Bravada Summarizes Recent Drill Results at Wind Mountain Au-Ag Property, Nevada
Bravada Summarizes Recent Drill Results at Wind
Mountain Au-Ag Property, Nevada
Vancouver, British Columbia--(Newsfile Corp. - February 14, 2018) -
Bravada Gold Corporation
(TSXV: BVA) (OTCQB:
BGAVF) (FSE: BRTN) (the "Company" or "Bravada") reports that remaining assays have been received for the two reverse-
circulation holes completed recently at the Company's 100% owned low-sulfidation
Wind Mountain pro
ject
, a past-producing
gold/silver property located in northwestern Nevada. Previous work by Bravada outlined a large, shallow oxide resource hosted
by permeable sediments of the Truckee Fm (see resource and PEA details below in About Wind Mountain). The two recent
holes were drilled in search of feeder zones within underlying Pyramid volcanic rocks that would be the roots of the blanket-like
mineralization. Hole WM17-097 is located near the southern end of the property, where an Inferred gold resource at the South
End deposit occurs near the base of the Truckee Fm. Hole WM17-098 is located about 1,500 metres north of -097 and is in the
bottom of the Wind Pit, close to where disseminate gold mineralization is thickest within the Truckee Fm.
Significant conclusions based on the drilling program and a subsequent review of existing data are listed below. A more
detailed discussion can be found in a technical memo posted on the Company's website
(
http://www.bravadagold.com/uploads/projects/18windmtn_summaryreport_feb07.pdf
).
As previously announced, hole WM17-097 intersected significant low-grade gold and anomalous mercury in a thick
package of tuffaceous sediments in the lower Pyramid Fm, which was previously thought to consist of a thick section of
volcanic flows with only minor sediments based on published mapping to the east. The sediments are a potentially new
host rock for gold at Wind Mtn.
As previously announced, hole WM17-098 drilled through mineralized Truckee Fm within previously defined resource
blocks and then intersected essentially fresh Pyramid Fm volcanic flows followed by a thick section of unaltered tuffaceous
sediments. Previously pending assays from the bottom of this hole confirm the lack of mineralization, indicating significant
lateral migration of ore fluids within the Truckee Fm from its feeder zone in the underlying Pyramid Fm.
The lower Pyramid sediments are fresh in hole -098, but strongly altered to clay with anomalous gold, silver, and mercury in
-097. This indicates that a feeder zone is closer to -097.
Two prominent northeast-trending post-mineral faults were crossed in hole -098. No anomalous metal values were
intersected, indicating these faults are not reactivated feeder faults, as suggested by the dramatic thickening of gold
mineralization within the Truckee Fm in this area.
Gold and silver mineralization is older than previously thought (+4.8Ma) and was deposited under a different stress regime
than currently exists. Northwest- and north-trending faults appear to have been open structures during gold mineralization,
in contrast to northeast-trending faults, which are the faults most recently open. Open fault orientations should host the
strongest feeder mineralization.
Several prominent calcite +/- quartz veins with variable amounts of gold and silver crop out at surface north of -097, and the
veins form a sigmoidal pattern of north to northwest -trending veins (see figure below). Detailed structural mapping and
sampling are planned and should provide vectors to feeder zones in the lower Pyramid Fm. Existing holes in the target
area are shallow, ending in Truckee Fm or volcanic flows of the upper Pyramid Fm, and were not deep enough to test the
feeder target.
A thick section of permeable sediments in the lower Pyramid Fm lies directly above Mesozoic-age impermable
metasediments along a low-angle fault. Mineralizing fluids passing from confined structures within metasediments into
overlying permeable sediments should spread outward to form a funnel-like body instead of narrow veins that would be
expected when confined within volcanic flows. A funnel-like body will be easier to test from the surface.
President Joe Kizis commented
,
"
Nev
ada is
one of the world's best
regions for discovery and production of gold,
and a new
high-grade discovery there will richly reward
Bravada's
shareholders. E
xploration
in
Nevada
is at a mature stage
, r
equir
ing
conceptual
'out of the box'
thinking
if we are to discover major new deposits rather than
to
simply add
marginally
to
previously
known deposits.
Our recent drill holes provided critical information that caused us to
re-think what a feeder zone
will
look like at Wind Mountain
and to
re-evaluate
existing data within
the
target
area
,
now
reduced to
approximately 1km by 0.5km.
Although we were aware
of anomalous gold and silver
concentrations
in shallow drill holes
in that area
,
t
he discovery that
a potential new host rock
lies
beneath Pyramid volcanic flows makes
a feeder in
this area
very
excit
ing. Detailed structure mapping and sampling, and
possibly
additional
geophysical
surveys
,
should
assist in refining
drill
targets
t
o be drilled in the second
or third
quarter
of
2018, subject to
funding and
rig availability
.
"
Wind Mountain - Open Pit
To view an enhanced version of this image, please visit:
http://orders.newsfilecorp.com/files/5343/32795_a1518556458360_36.jpg
About Wind Mountain
The Wind Mountain Property is in northwestern Nevada approximately 160km northeast of Reno in a sparsely populated region
with excellent logistics, including county-maintained road access and a power line to the property. It is an historic past-producing,
bulk-tonnage gold-silver mine. An independent resource estimate and Preliminary Economic Evaluation for Wind Mountain
commissioned by Bravada in 2012 reported:
570,000 ounces of gold and 14.7 million ounces of silver in the Indicated category, and
354,000 ounces of gold and 10.1 million ounces of silver in the Inferred category.
See the table below and news release NR-06-12 dated April 11, 2012 for details of the resource update. Mineral resources that
are not mineral reserves do not have demonstrated economic viability. Inferred resources are considered too speculative
geologically to have economic considerations applied to them that would enable them to be classified as mineral reserves.
There is no assurance that any part of the resources will ultimately be converted to mineral reserves.
Mine Development Associates compiled the Technical Report and PEA. Thomas Dyer, P.E. is a Senior Engineer for MDA and
is responsible for sections of the Technical Report involving mine designs and the economic evaluation, and Steven Ristorcelli,
C.P.G., is a Principal Geologist for MDA and is responsible for the sections involving the Mineral Resource estimate. These are
the Qualified Persons of the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Economic
Analyses of Mineral Projects. Details of the PEA produced by Mine Development Associates (MDA) of Reno can be found on
SEDAR, as previously reported (see NR-07-12 dated May 1, 2012). Note that although the PEA was encouraging, it is
preliminary in nature, it includes Inferred mineral resources that are considered too speculative geologically to have economic
considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the
PEA will be realized.
Tons
oz Au/T
oz Ag/T
Tonnes
gms Au/T
gms Ag/T
oz Au
oz Ag
Indicated resource
Oxide at 0.005 oz Au/ton cut off
58,816,000
0.010
0.25
53,372,051
0.343
8.6
564,600
14,539,000
Mixed/Sulfide at 0.01 oz Au/ton cut off
498,000
0.012
0.40
451,906
0.411
13.7
5,900
197,000
Total
59,314,000
53,823,956
570,500
14,736,000
Inferred resource
Oxide at 0.005 oz Au/ton cut off
19,866,000
0.006
0.17
18,027,223
0.206
5.8
125,200
3,443,000
Mixed/Sulfide at 0.01 oz Au/ton cut off
14,595,000
0.016
0.46
13,244,102
0.549
15.8
229,100
6,672,000
Total
34,461,000
31,271,325
354,300
10,115,000
A
bout Bravada
Bravada is an exploration company with a portfolio of 11 high-quality properties in Nevada, one of the best mining jurisdictions in
the world. During the past 12 years the Company has successfully identified and advanced properties that have the potential to
host high-margin deposits while successfully attracting partners to fund later stages of project development. Currently,
exploration expenses on three of its Nevada properties are being funded by partners. Seven of the Company's properties have
been developed through exploration by Bravada and are drill-ready or close to being so with exploration to continue throughout
2018 subject to funding availability.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513, Wyoming PG-2576) is the Qualified Person responsible for reviewing and
preparing the technical data presented in this release and has approved its disclosure.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at
bravadagold.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are
based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions,
interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of
financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ
materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing
and receipt of government and regulatory approvals, and continued availability of capital and financing and general
economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by
applicable law.