Bravada's Proof-of-concept Drilling Provides Vector to Feeder Zone at Wind Mountain Au-Ag Property, Nevada
Bravada's Proof-of-concept Drilling Provides Vector to
Feeder Zone at Wind Mountain Au-Ag Property, Nevada
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2018) -
Bravada Gold Corporation
(TSXV: BVA) (OTCQB:
BGAVF) (FSE: BRTN) (the "Company" or "Bravada") reports that two proof-of-concept holes were completed in December and
early January at the Company's 100% owned low-sulfidation
Wind Mountain pro
ject
, a past-producing gold/silver property in
northwestern Nevada. The reverse-circulation holes were drilled approximately 1,500m apart. Alteration and geochemistry
indicate that the southerly hole intersected mineralization with characteristics of being up-dip from a feeder zone and the
northerly hole intersected characteristics of being down-dip from a feeder zone, indicating the feeder lies between these holes
(see figure below). Each hole intersected a low-angle fault that separates the Tertiary volcanic and sedimentary host rocks from
Mesozoic metamorphosed basement rocks.
Wind Mtn - 3D View - 2017/18 Drilling
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Hole WM17-097 (-75, 135 degrees, TD= 401m) was drilled close to the South End Inferred Resource and intersected strongly
clay-altered sediments and tuffs within the lower Pyramid volcanic sequence. Anomalous gold (50-699ppb) and mercury
(+1ppm) occur in this rock sequence before passing into unaltered Mesozoic basement rocks at 279m depth (see cross section
below).
Wind Mtn - South End Target - WM17-097
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Hole WM17-098 (-75, 135 degrees, TD=634m) was drilled from the bottom of the Wind Mountain open pit and drilled through a
portion of the previously defined resource, where assays in hole -098 returned 0-40m averaging 0.343g/t Au (0.510g/t Au-eq
using a 70Ag:1Au ratio) as expected. Alteration, gold and pathfinder elements decreased to background levels and continued at
these low levels down hole to 524m, below which assays are not expected until mid-February. Unaltered Mesozoic basement
was intersected at 617m depth. Pyramid sediments are much less altered than similar sediments intersected in hole -097 (see
cross section below, note change in scale from WM17-097 section).
Wind Mtn - Wind Pit Target - WM17-098
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President Joe Kizis commented, "
The two proof-of-concept holes in combination with existing data provide us with clear
vectors to the likely feeder zone, also called the upwelling zone in low-sulfidation gold deposits. Evidence is overwhelming for
large-scale
lateral movement
of the gold-depositing fluids that formed the known gold/silver deposit, which makes zeroing in
on the suspected high-grade feeder difficult. However, the difference in alteration is striking within similar volcanic-sediments
above basement rocks; those in hole -098 appear to be essentially unaltered, even though they underlie the thickest portion
of the shallow mineralization, whereas those volcanic-sediments in hole -097 have alteration and mineralization that is typical
of being distal from an upwelling zone. The challenge now is to determine where the feeder zone(s) lies within this area of
approximately 1km by 0.5km. IP or another geophysical technique should assist in refining drill targets to be drilled in the
second quarter 2018, subject to rig availability."
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
About 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
.
Contact Information:
Jay Oness
VP Investor Corporate Development
Tel: 604-641-2759
Email:
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.