gsfl
12 years ago
Bravo Gold to Change Name to Homestake Resource Corporation (HSR) and Complete Share Consolidation on April 16, 2012
Bravo Gold Corp. (TSX.V - BVG) (“Bravo” or the “Company”) announces that the TSX Venture
Exchange has approved the Company’s share consolidation on the basis of one (1) post-consolidation
common share for every ten (10) pre-consolidation Common Shares. The TSX Venture Exchange has
also approved a corporate name change to “Homestake Resource Corporation” and its ticker symbol
to “HSR”. Commencing on April 16, 2012, the Company’s common shares will trade on a post-
consolidation basis under its new name Homestake Resource Corporation, trading symbol HSR.
"Our new corporate name and ticker symbol will emphasize the Company’s major asset, the Homestake Ridge
property, and better reflect the growing importance of silver, copper, lead, and zinc in addition to gold being
discovered at the Company’s Homestake and Kinskuch properties," said Joe Kizis, President of Bravo Gold
Corp. "And with these corporate changes, we look forward to continuing to expand the resource base at our
Homestake Ridge and Kinskuch properties to become the next major gold-silver district in British Columbia."
The company plans an aggressive 2012 exploration and development program on the Homestake Ridge
and Kinskuch properties located in northwestern British Columbia that will concentrate on the drill
delineation of the newly discovered South Reef deposit at Homestake Ridge and extensive drilling of a
potential mineral deposit at Kinskuch discovered in the 2011 exploration season. In addition, the
program will include additional exploration drilling, ground geophysics and further evaluation of
several other encouraging exploration targets. A defined resource at South Reef and possibly at
Kinskuch, together with any new discoveries, will be accretive to the NI43-101 compliant resources at
the two deposits already discovered and delineated by Bravo at the Homestake Ridge property, which
should significantly enhance the potential development of this strongly mineralized district.
Letters of transmittal with respect to the consolidation will be mailed out to the Company's
shareholders after the effective date. Shareholders will be required to send their certificates
representing pre-consolidation common shares with a properly executed letter of transmittal to the
Company's transfer agent, Computershare Investor Services Inc. Additional copies of the letter of
transmittal can be obtained by contacting Computershare Investor Services Inc., Shareholders Services
Department, at 1-800-564-6253. All shareholders who duly complete letters of transmittal and submit
their pre-consolidation common share certificates to Computershare will receive new share certificates
1
representing the number of post-consolidation common shares to which they are entitled to pursuant
to the terms of the consolidation. No fractional shares will be issued and any fraction of a share will be
rounded down to the nearest whole number of common shares. The Company currently has
215,411,092 common shares issued and outstanding. Upon completion of the share consolidation, there
will be 21,541,109 Common Shares issued and outstanding.
The Company's current outstanding warrants and stock options will be adjusted on the same basis as
the share consolidation. There are currently 36,953,889 Share Purchase Warrants and 3,924,504 Agent’s
Options (the “Warrants”) issued and outstanding with exercise prices ranging from $0.10 to $0.48 per
share and which are exercisable in September 2012, June and December 2013 and February 2014. Upon
completion of the share consolidation there will be an aggregate of 4,087,839 Warrants with exercise
Destinator
12 years ago
Why Precious Metals will rise.
Why the U.S. was downgraded:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385
Got It ?????
OK now Lesson # 2:
Here's another way to look at the Debt Ceiling:
Let's say, You come home from work and find there has been a sewer backup in your neighborhood....and your home has sewage all the way up
to your ceilings.
What do you think you should do ......
Raise the ceilings, or pump out the sh!t?
And while I'm at it.... what do you guys think of the USA cancelling the pipeline project to supply Canadian oil to the US refineries on the Gulf coast?.... I figure if our oil isn't needed/wanted "at home" we should just sell it to China.... I'm sure the USA won't mind buying all their oil from the Middle East....
gsfl
12 years ago
Bravo Drills New Mineralization at Homestake and Confirms
Mineralization at Kinskuch
Bravo Gold Corp (TSX.V - BVG) (“Bravo”) reported today that it has identified and partially drill- tested several areas of mineralization at both the Homestake Ridge Project and the Kinskuch Project over the course of the 2011 exploration program. The season’s program consisted of diamond drilling; surface soil and rock-chip sampling, and geophysics at both projects and crews are now in the process of de-mobilization. Engineering and metallurgical work continues. Assay results for most the drilling program have not been received yet due to lab delays.
Homestake Project
A total of 23 core holes were drilled on the Homestake property for approximately 7364 metres during this year’s program. Surface IP geophysics totaling approximately 15 line-kilometres was completed over the Main Homestake deposit, the Homestake Silver deposit and several additional target areas on the property.
Channel sampling was completed in historic trenches over the Main Homestake deposit, and soil sampling was completed over the lines cut for surface geophysics.
Drilling initially focused on two hangingwall structures to the Homestake Silver deposit and the connecting area between the Main Homestake and Homestake Silver deposits. A total of 9 holes for 2172 metres were completed in these target areas. Eight drill holes (one lost) tested the southeastern extension of the Homestake Silver deposit, where alteration and base-metal mineralization are visually encouraging.
IP geophysics was used to direct drilling 350 metres to the southeast of the Fox Reef zone in an area that is now called the South Reef zone. Four holes were drilled into this target and each contained significant alteration and base-metal mineralization in three distinct mineralized intervals. Mineralization has only been tested to a depth of 160 metres and the geophysical signature can be traced for over 800 metres along the projected strike.
Assays of samples from the channel sampling and all 23 drill holes are pending owing to a combination of a delayed start to drilling caused by a late snow melt and unusually high sample volumes experienced by the assays laboratories.
1
Kinskuch Project
The Kinskuch project is a strategic acquisition that contains much of the access road to Homestake Ridge and several highly prospective areas that had not been explored with modern technology.
Exploration on the property during the 2011 field season included a 3820 line-kilometre DIGHEM airborne survey over much of the project area, aggressive surface exploration of the main mineralized trends throughout the property, and 855 metres of diamond drilling in four holes.
Drilling targeted the Illiance River Trend, which includes multiple mineral occurrences along an eight kilometre-long belt of altered and mineralized felsic volcanics. Drilling during the late 1980’s within a 1.6 kilometre-long portion of this trend returned several high-grade silver intercepts of up to 1.8 metres of 297g/t Ag, 2.89% Pb and 9.56% Zn(1). More recent chip and grab sampling in the area returned assays of up to 11,485g/t Ag, 5.34% Pb and 24.6% Zn(1).
Bravo’s 2011 field exploration program was successful in confirming these surface occurrences. Assays received from 54 rock samples taken along the 1.6km trend average 415g/t Ag, 0.49% Cu, 2.78% Pb and 3.18% Zn. Highlights from this program include a 1m true width sample containing 5227g/t Ag, 4.67% Pb and 8.44% Zn from a trench at the Silver Bar North occurrence, located in the northern part of the trend, and a 0.5m sample containing 383g/t Ag, 7.76% Pb and 26.67% Zn in the United Metals zone, located at the southern end of the trend. Channel sampling is ongoing in this area and assays are pending.
One drill hole was completed at the Silver Bar North occurrence and three holes were completed at the United Metals occurrence. All three holes in the United Metals zone returned thick intervals of altered host rock and visible base-metal sulphides. Assays for these holes are also pending.
About Bravo
Bravo Gold Corp has a 100 percent interest in the Homestake Ridge project, which is located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant Indicated Resource, at a 3.0 g/t AuEq. cut-off, of 191,000 oz gold and 1,350,000 oz silver plus an Inferred Resource of 530,000 oz gold and 13,470,000 oz silver(2). Two deposits have been identified to date and multiple exploration targets remain to be tested on the large 2585 hectare property. Bravo recently acquired an option to acquire the 596-square-kilometre Kinskuch project located adjacent to, and to the southeast of, Bravo’s Homestake Ridge project. Bravo also holds an 11.7 percent interest in Bravada Gold Corporation (TSX.V-BVA), which is exploring 22 projects in Nevada.
-30-
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors “Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp.
For further information, please visit the company’s website at bravogoldcorp.com or contact Liana Shahinian at either 1-888-456-1112 or 604-641-2773 or by email at liana@mnxltd.com.
2
(1) Bravo advises that grades, thicknesses and tonnages are from historic records, primarily BC ARIS Assessment Reports, and remain unverified; thus, should not be relied upon. Grab and select chip samples may not be representative of all mineralization on the property
(2) The current estimate was prepared by Roscoe Postle Associates Inc. (RPA). Mineral Resources on the Main Homestake deposit were estimated previously in 2010 using a block model constrained by 3D wireframes of the mineralized zones. Mineral Resources on the Homestake Silver deposit were estimated in 2011 using a block model constrained by pierce points projected to 2D surfaces. The Main Homestake block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, and Cu interpolated using ID3 weighting. The Homestake Silver block model comprised an array of blocks measuring 10 m x 10 m. At a 3.0g/t AuEq. cut-off, the models identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and a cumulative inferred resource of 4,060,000 tonnes averaging 4.3g/t Au, 158g/t Ag.
gsfl
13 years ago
Bravo Plans Extensive Exploration Program in 2011 at Kinskuch Project Near Homestake Ridge
May 3, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Bravo Gold Corp. (TSX VENTURE:BVG)(FRANKFURT:B6I) ("Bravo") reported today on plans to explore its newly acquired 596 square-kilometre Kinskuch project located adjacent to, and to the southeast of, Bravo's Homestake Ridge project in northern British Columbia. The Kinskuch property provides Bravo with several near-term drill targets and much attractive and highly prospective ground in this strongly mineralized district. Any discoveries will be accretive to the two deposits already discovered by Bravo at the adjacent Homestake Ridge property which have a current NI43-101 compliant Indicated Resource, at a 3.0 g/t AuEq. cut-off, of 191,000 oz gold and 1,350,000 oz silver plus an Inferred Resource of 530,000 oz gold and 13,470,000 oz silver(1). Initial exploration on the Kinskuch property will focus on two areas in the same stratigraphic section as the Homestake Ridge deposits and a third area in the northern part of the claim group.
The Kinskuch project is a strategic acquisition which contains much of the access road to Homestake Ridge and several highly prospective areas that have not been explored with modern technology. Current exploration plans include an airborne V-TEM survey over much of the project area, aggressive surface exploration of the main mineralized trends throughout the property and an anticipated 2000 metres of diamond drilling on several targets identified through detailed data review and compilation.
Bravo has developed five priority target areas for the 2011 field season. Two of the targets lie along the access road between Homestake Ridge and Bravo's logistical center at Alice Arm; success at either of these targets could positively affect near-term economics of Bravo's property in the district.
Esperanza Mine
Situated just north of Alice Arm, this target offers excellent accessibility for exploration, drilling, and if successful, potential mine development. Five documented mineral occurrences are located within this area where exploration dates back to the early 1900s. The Esperanza Mine is a small-scale past producer with 4,660 tonnes mined between 1911 and 1948 at an average grade of 994g/t Ag, 1.8g/t Au and 0.14% Pb (2).
Chip sampling of narrow veins (0.05 to 0.5 metres) in the historic workings contain multiple assays between 111g/t and 1,913g/t Ag and between 1.5g/t and 159g/t Au. Sampling of historic drill core from 1969 assayed up to 5,583g/t Ag and 6.0g/t Au over a 0.25 metre interval (2).
The historic work at the Esperanza Mine provides an excellent basis for fast-tracking targeting for drilling during the 2011 season. In addition, gold-in-soil anomalies (>40ppb) in recent reconnaissance soil sampling extend the area of interest about 1.5 kilometres to the north of the Esperanza mine.
To view the map accompanying this press release please visit the following link: http://media3.marketwire.com/docs/Bravomap53.pdf
Road North Anomaly
The Road North Anomaly is an underexplored area located on trend to the north of the Esperanza Mine and also along the access road to the Homestake Ridge staging area. Two known historic mineral occurrences are located in this area. Soil sampling in 2007/08 identified multiple gold-in-soil anomalies (up to 170ppb Au) along this +4 kilometre long mineralized trend, which is the southern extension of the same stratigraphic section that hosts the Homestake Ridge deposits. This area received sporadic historical exploration. Airborne geophysics, field mapping, and sampling are planned to delineate drill targets.
Illiance River Trend
This trend includes multiple mineral occurrences that occur along an 8 kilometre belt of altered and mineralized felsic volcanics and is located about 15 kilometres east-northeast of Alice Arm. Drilling in the late 1980's within a 1.6 kilometre long portion of this trend returned several high-grade silver-enriched intercepts of up to 1.8 metres of 297g/t Ag, 2.89% Pb and 9.56% Zn(2). More recent chip and grab samples in the area returned assays of up to 11,485g/t Ag, 5.34% Pb and 24.6% Zn(2). Airborne geophysics, mapping, and sampling are expected to provide highly prospective drill targets for follow-up during 2011.
Goldstream Area
This area lies to the north of the Illiance River along the banks of Lahte Creek, approximately 20 kilometres northeast of Alice Arm. Recent detailed soil sampling has outlined a 900 by 300 metre multi-element soil anomaly with individual Au values of up to 1,550ppb, making this an attractive drill target. Other historic surface sampling returned assays of up to 3oz/t Ag and 1-2% Pb and Zn(2) in this area. Field confirmation is planned prior to selection of drill sites for 2011 exploration.
RTH Anomaly
The RTH Anomaly (also referred to as Round the Hill) comprises two clusters of surface samples with anomalous precious metals in the area north of Kinskuch Lake and southeast of Jade Lake. They represent two of the several early-stage prospective areas on the property, which will require additional mapping and surface sampling in preparation for drill targeting.
About Bravo
Bravo Gold Corp. has a 100 percent interest in the Homestake Ridge project, which is located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant Indicated Resource, at a 3.0 g/t AuEq. cut-off, of 191,000 oz gold and 1,350,000 oz silver plus an Inferred Resource of 530,000 oz gold and 13,470,000 oz silver(1). Two deposits have been identified to date and multiple exploration targets remain to be tested on the large 2585 hectare property. Bravo recently acquired an option to acquire the 596-square-kilometre Kinskuch project located adjacent to, and to the southeast of, Bravo's Homestake Ridge project. Bravo also holds a 13 percent interest in Bravada Gold Corporation (TSX VENTURE:BVA), which is exploring 22 projects in Nevada.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp.
The current estimate was prepared by Roscoe Postle Associates Inc. (RPA). Mineral Resources on the Main Homestake deposit were estimated previously in 2010 using a block model constrained by 3D wireframes of the mineralized zones. Mineral Resources on the Homestake Silver deposit were estimated in 2011 using a block model constrained by pierce points projected to 2D surfaces. The Main Homestake block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, and Cu interpolated using ID3 weighting. The Homestake Silver block model comprised an array of blocks measuring 10 m x 10 m. At a 3.0g/t AuEq. cut-off, the models identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and a cumulative inferred resource of 4,060,000 tonnes averaging 4.3g/t Au, 158g/t Ag.
Bravo advises that grades, thicknesses and tonnages are from historic records, primarily BC ARIS Assessment Reports, and remain unverified; thus, should not be relied upon. Grab and select chip samples may not be representative of all mineralization on the property
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. Bravo Gold Corp. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.
Bravo Gold Corp.
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.bravogoldcorp.com
gsfl
13 years ago
Bravo plans extensive exploration program in 2011 at Kinskuch Project near Homestake Ridge
Bravo Gold Corp (TSX.V - BVG) (“Bravo”) reported today on plans to explore its newly acquired 596 square-kilometre Kinskuch project located adjacent to, and to the southeast of, Bravo’s Homestake Ridge project in northern British Columbia. The Kinskuch property provides Bravo with several near- term drill targets and much attractive and highly prospective ground in this strongly mineralized district. Any discoveries will be accretive to the two deposits already discovered by Bravo at the adjacent Homestake Ridge property which have a current NI43-101 compliant Indicated Resource, at a 3.0 g/t AuEq. cut-off, of 191,000 oz gold and 1,350,000 oz silver plus an Inferred Resource of 530,000 oz gold and 13,470,000 oz silver(1). Initial exploration on the Kinskuch property will focus on two areas in the same stratigraphic section as the Homestake Ridge deposits and a third area in the northern part of the claim group.
The Kinskuch project is a strategic acquisition which contains much of the access road to Homestake Ridge and several highly prospective areas that have not been explored with modern technology. Current exploration plans include an airborne V-TEM survey over much of the project area, aggressive surface exploration of the main mineralized trends throughout the property and an anticipated 2000 metres of diamond drilling on several targets identified through detailed data review and compilation.
Bravo has developed five priority target areas for the 2011 field season. Two of the targets lie along the access road between Homestake Ridge and Bravo’s logistical center at Alice Arm; success at either of these targets could positively affect near-term economics of Bravo’s property in the district.
Esperanza Mine
Situated just north of Alice Arm, this target offers excellent accessibility for exploration, drilling, and if successful, potential mine development. Five documented mineral occurrences are located within this area where exploration dates back to the early 1900s. The Esperanza Mine is a small-scale past producer with 4,660 tonnes mined between 1911 and 1948 at an average grade of 994g/t Ag, 1.8g/t Au and 0.14% Pb (2).
Chip sampling of narrow veins (0.05 to 0.5 metres) in the historic workings contain multiple assays between 111g/t and 1,913g/t Ag and between 1.5g/t and 159g/t Au. Sampling of historic drill core from 1969 assayed up to 5,583g/t Ag and 6.0g/t Au over a 0.25 metre interval (2).
1.The historic work at the Esperanza Mine provides an excellent basis for fast-tracking targeting for drilling during the 2011 season. In addition, gold-in-soil anomalies (>40ppb) in recent reconnaissance soil sampling extend the area of interest about 1.5 kilometres to the north of the Esperanza mine.
Road North Anomaly
The Road North Anomaly is an underexplored area located on trend to the north of the Esperanza Mine and also along the access road to the Homestake Ridge staging area. Two known historic mineral occurrences are located in this area. Soil sampling in 2007/08 identified multiple gold-in-soil anomalies (up to 170ppb Au) along this +4 kilometre long mineralized trend, which is the southern extension of the same stratigraphic section that hosts the Homestake Ridge deposits. This area received sporadic historical exploration. Airborne geophysics, field mapping, and sampling are planned to delineate drill targets.
2. Illiance River Trend
This trend includes multiple mineral occurrences that occur along an 8 kilometre belt of altered and mineralized felsic volcanics and is located about 15 kilometres east-northeast of Alice Arm. Drilling in the late 1980’s within a 1.6 kilometre long portion of this trend returned several high-grade silver- enriched intercepts of up to 1.8 metres of 297g/t Ag, 2.89% Pb and 9.56% Zn(2). More recent chip and grab samples in the area returned assays of up to 11,485g/t Ag, 5.34% Pb and 24.6% Zn(2). Airborne geophysics, mapping, and sampling are expected to provide highly prospective drill targets for follow- up during 2011.
Goldstream Area
This area lies to the north of the Illiance River along the banks of Lahte Creek, approximately 20 kilometres northeast of Alice Arm. Recent detailed soil sampling has outlined a 900 by 300 metre multi- element soil anomaly with individual Au values of up to 1,550ppb, making this an attractive drill target. Other historic surface sampling returned assays of up to 3oz/t Ag and 1-2% Pb and Zn(2) in this area. Field confirmation is planned prior to selection of drill sites for 2011 exploration.
RTH Anomaly
The RTH Anomaly (also referred to as Round the Hill) comprises two clusters of surface samples with anomalous precious metals in the area north of Kinskuch Lake and southeast of Jade Lake. They represent two of the several early-stage prospective areas on the property, which will require additional mapping and surface sampling in preparation for drill targeting.
About Bravo
Bravo Gold Corp has a 100 percent interest in the Homestake Ridge project, which is located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant Indicated Resource, at a 3.0 g/t AuEq. cut-off, of 191,000 oz gold and 1,350,000 oz silver plus an Inferred Resource of 530,000 oz gold and 13,470,000 oz silver(1). Two deposits have been identified to date and multiple exploration targets remain to be tested on the large 2585 hectare property. Bravo recently acquired an option to acquire the 596-square-kilometre Kinskuch project located adjacent to, and to the southeast of, Bravo’s Homestake Ridge project. Bravo also holds a 13 percent interest in Bravada Gold Corporation (TSX.V- BVA), which is exploring 22 projects in Nevada.
-30-
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors “Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp. For further information, please visit the company’s website at bravogoldcorp.com or contact Liana
Shahinian at either 1-888-456-1112 or 604-641-2773 or by email at liana@mnxltd.com.
(1) The current estimate was prepared by Roscoe Postle Associates Inc. (RPA). Mineral Resources on the Main Homestake deposit were estimated previously in 2010 using a block
3
model constrained by 3D wireframes of the mineralized zones. Mineral Resources on the Homestake Silver deposit were estimated in 2011 using a block model constrained by pierce points projected to 2D surfaces. The Main Homestake block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, and Cu interpolated using ID3 weighting. The Homestake Silver block model comprised an array of blocks measuring 10 m x 10 m. At a 3.0g/t AuEq. cut-off, the models identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and a cumulative inferred resource of 4,060,000 tonnes averaging 4.3g/t Au, 158g/t Ag.
(2) Bravo advises that grades, thicknesses and tonnages are from historic records, primarily BC ARIS Assessment Reports, and remain unverified; thus, should not be relied upon. Grab and select chip samples may not be representative of all mineralization on the property
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. Bravo Gold Corp. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.
gsfl
13 years ago
Bravo Options 600-Square-Kilometer Kinskuch Project in the Homestake Ridge District
Bravo Gold Corp (TSX.V - BVG) ("Bravo") reports today that it has acquired an option from a private vendor to acquire up to 100% interest in the 596-square-kilometre Kinskuch Project located adjacent to, and to the southeast of, Bravo's Homestake Ridge project in northern British Columbia. The Kinskuch Project contains over 37 documented precious- and base-metal mineral occurrences(1), many of which are hosted in the same rocks as those hosting the Homestake Ridge VMS/vein deposits, in addition to several occurrences exhibiting potential for copper and gold porphyry hosted mineralization.
Terms of the option include an initial payment to optionors of C$60,000 and a first-year work commitment of $750,000, which is currently proposed to include airborne geophysics, geologic mapping, sampling, and drilling. Bravo can earn an 85% interest by making Advanced Minimum Royalty payments totaling $580,000 and spending $3,000,000 in work on the property during the next four years. Bravo can purchase the remaining 15% interest by paying the Optionor $2,000,000 and granting a 2% NSR royalty, of which 1% may be purchased for $1,000,000.
President Joe Kizis commented "Our Homestake Ridge project is in a well-recognized precious metal-rich district where we believe many other deposits still remain to be discovered, so we are very pleased to acquire such prospective ground under reasonable terms. In addition, we shall soon receive our updated resource calculation for the Homestake Silver deposit from Roscoe Postle Associates Inc. on the basis of which our consulting mining engineer Mr. Sveinson will proceed with evaluating economic parameters for future production feasibility. Additional deposits which may be discovered in the adjacent Kinskuch holdings district would be accretive to the already defined resources that we have discovered to date at Homestake Ridge."
Initial exploration on the Kinskuch property will focus on two areas in the same geological setting as the Homestake Ridge deposits: the area bordering the access road from Bravo's logistical base in Alice Arm, where preliminary soil sampling returned gold values ranging to 660 ppb; and Illiance Valley, where multiple Ag-Au-Pb-Zn enriched mineral occurrences occur along a 8 kilometer long trend of felsic tuff and intrusive rocks. Selected chip and grab samples taken by Teck Cominco Ltd in 2001 at several occurrences along the Illiance River trend returned values of up to 3761g/t Ag , 7.6% Pb and 17.0%Zn (2) with several samples containing in excess of one gram per tonne gold. Limited soil sampling at the Gold Stream target by the Kinskuch optionor outlined a 300 metre x 900 metre gold-in-soil anomaly, the limits of which remain to be defined yet represents a potential drill target for the upcoming 2011 exploration program. Airborne geophysics will assist with geologic mapping and targeting in this area of very poor exposure.
gsfl
13 years ago
Bravo Retains Consulting Mining Engineer for Homestake Ridge
Project
Bravo Gold Corp. (TSX.V - BVG) (“Bravo”) reports today that it has retained Fred Sveinson, P.Eng. in the role of Consulting Mining Engineer for the Homestake Ridge project. Mr. Sveinson brings extensive experience in mine development, financing and operations to complement Bravo’s geological and corporate development teams. He is a professional mining engineer with more than 40 years experience in all stages of mine development at operations ranging in size from 100 to 2,000 tonnes per day in Canada, the US, South America and Africa.
His experience includes permitting and regulatory governmental dealing and involvement with First Nations negotiations in British Columbia as well as finance negotiations for exploration and mine development on a national and international level.
His senior positions have included General Manager of Echo Bay's Lupin and Sunnyside operations, and Vice-President of Tonto Mining and Dynatec Mining. Most recently, from 2004 to 2010, he was President and CEO of Merit Mining Corp., a Vancouver-based company with two advanced-stage mining projects, including underground operations and a mill at Greenwood, BC. In 2005, as President and CEO of Gold City Industries Ltd., he was instrumental in acquiring the Bissett gold mining assets in Manitoba and merging the JV partners into San Gold Corporation, which now has a market capitalization of over one billion dollars.
President Joe Kizis commented, “I am pleased to add Mr. Sveinson’s expertise to our Homestage Ridge project team as it develops the project towards the potential high-grade underground mine contemplated in Scott Wilson Roscoe Postle’s 2010 report.”
About Bravo
Bravo Gold Corp. has a 100 percent interest in the Homestake Ridge project located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant Indicated Resource, at a 3.0 g/t AuEq. cut-off, of 191,000 oz gold and 1,350,000 oz silver plus an Inferred Resource of 348,000 oz gold and 7,990,000 oz silver(1). Two deposits have been indentified to date and multiple exploration targets remain to be tested on the large, 2585 hectare property. Bravo also holds a 17 percent interest in Bravada Gold Corp. (TSX.V-BVA), which is exploring 22 projects in Nevada.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors “Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp. For further information, please visit the company’s website at bravogoldcorp.com or contact Liana Shahinian at either 1-888-
456-1112 or 604-641-2773 or by email at liana@mnxltd.com.
(1) The current estimate, as reported in NR-07-10, was prepared by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) and carried out using a block model constrained by 3D wireframes of the mineralized zones. The block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, Cu, Pb, and Zn interpolated using Inverse Distance to the Third Power (ID3) weighting. At a 3.0g/t AuEq. cut-off, the model identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and an inferred resource of 2,340,000 tonnes averaging 4.6g/t Au, 105.5g/t Ag and 0.13% Cu.
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. Bravo Gold Corp. 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. We seek safe harbor.
gsfl
13 years ago
Bravo Gold Corp. acquires shares of Bravada Gold Corporation
Bravo Gold Corp. (the “Company”) reports that on January 7, 2011 it acquired, through an amalgamation, 11,147,687 Common shares of Bravada Gold Corporation (“Amalco”). As a result of the amalgamation, the Company owns 17.02% of the issued and outstanding Common shares of Amalco.
The Company’s current intentions are that it acquired the 11,147,687 Common shares for investment purposes, but may, from time to time, reconsider its holdings in Amalco and, as circumstances dictate, may increase or decrease its position in Amalco.
The Company further advises that a report relating to these matters is being filed with the British Columbia Securities Commission and can be obtained from sedar.com.
-30-
On behalf of the Board of Directors “Lawrence Page, Q.C.”
Lawrence Page, Q.C., Director and Chairman, Bravo Gold Corp.
basserdan
13 years ago
Bravo Drills 45.5 Metres of 2.1g/t Gold at Homestake Ridge
Mon Nov 22, 9:30 AM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2010) - Bravo Gold Corp. (TSX VENTURE:BVG.V; OTC:BVGIF)(FRANKFURT:B6I) reported today that it continues to extend mineralization at the Homestake Silver deposit, located on its 100 percent owned Homestake Ridge Project in NW British Columbia.
The company provided results on an additional four drill holes from the 2010 exploration program, including HR10-199, which returned a 45.5 metre interval averaging 2.1g/t gold and 16.5g/t silver, including a 2.1 metre interval averaging 7.9g/t gold with 52.8g/t silver and a 4.4 metre interval averaging 3.4g/t gold with 38.5g/t silver. Hole HR10-199 was cored 60 metres up-section from high- grade mineralization in drill hole HR09-165 (24 metres grading 12.1g/t gold) and effectively fills a gap in the deposit outlined by the 2009 drilling. All intervals are reported as estimated true thickness.
High-grade gold-silver mineralization from drill hole HR10-203 includes a 2.5 metre interval of 0.9g/t gold and 484.9g/t silver, which extends up-dip from mineralization first reported in drill hole HR10-198 (9.6m grading 5.9g/t gold and 6.0g/t silver) and continues to define coherent gold and silver enriched mineralization in the upper volcanic stratigraphy.
Bravo also reported that hole HR10-200 from the Fox Reef zone has returned narrow, but high-grade and silver-enriched, copper-lead-zinc mineralization including 0.7 metres (down hole thickness) averaging 0.7g/t gold, 64.4g/t silver, 1.9% copper, 12.5% zinc and 5.3% lead, which extends mineralization an additional 70 metres down-dip and along strike to the northwest from hole HR10-183 in this newly discovered zone of mineralization.
Assays are pending for 11 holes that offset mineralization and could further expand the mineral resources of the Homestake Silver deposit and the Fox Reef zone.
Bravo has now completed the 2010 drilling program at the Homestake Ridge Project. All drill core from the 2010 program has been moved to warehouse facilities in Prince Rupert, where logging and sampling of the remaining drill holes continues. A total of 48 core holes have been drilled on the property for approximately 17,924 metres during this year's program. Assays from 15 of these drill holes are pending. Twenty-six drill holes totaling 11,972 metres tested the Homestake Silver deposit while twenty-two drill holes totaling 5,952 metres were completed in six other targets on the property.
An updated long section of the 2010 drill plan and a full compilation of the 2010 assay summaries are available on Bravo's website at http://www.bravogoldcorp.com.
To view Figure 1, please click on the following link: http://media3.marketwire.com/docs/bravo1122figure1.pdf.
Table 1: Select Assays from 2010 Drilling at the Homestake Silver Deposit
Collar Data Inter- Est.
Az Dip Depth From To val Tr. Au Ag
Hole # Deg Deg (m) (m) (m) (m) Thck (g/t) (g/t) Comments
----------------------------------------------------------------------------
HR10-199 232.0 -49.0 444.1 265.7 268.9 3.2 2.4 1.7 48.4
and 311.0 370.9 59.9 45.5 2.1 16.5
inc. 311.0 325.9 14.9 11.3 3.4 20.0
inc. 323.2 325.9 2.7 2.1 7.9 52.8
and 365.0 370.9 5.9 4.4 3.4 38.5
----------------------------------------------------------------------------
HR10-201 243.0 -46.0 438.0 30.0 31.1 1.1 0.8 0.0 326.5
and 265.8 272.9 7.2 5.3 1.8 41.96%
Dilution
at 0.5
g/t
cutoff
inc. 270.3 272.9 2.7 2.0 4.3 8.4
inc. 271.8 272.9 1.2 0.9 9.1 12.9
and 283.3 295.6 12.4 9.2 2.0 6.2 36%
Dilution
inc. 291.6 294.3 2.8 2.0 5.3 11.6
----------------------------------------------------------------------------
HR10-203 206.0 -47.0 422.8 183.9 187.2 3.4 2.6 0.1 188.1
inc. 183.9 184.3 0.4 0.3 0.2 1390.0
and 225.5 228.7 3.2 2.5 0.9 484.9
----------------------------------------------------------------------------
Fox Reef Zone:
----------------------------------------------------------------------------
Collar Data Inter- Est.
Az Dip Depth From To val Tr. Au Ag
Hole # Deg Deg (m) (m) (m) (m) Thck (g/t) (g/t) Comments
----------------------------------------------------------------------------
HR10-200 183.9 -51.0 319.1 202.1 204.2 2.1 0.4 22.4 1.68% Pb
4.5% Zn
inc. 202.1 202.8 0.7 0.7 64.4 1.9% Cu,
5.3% Pb,
12.5% Zn
and 237.0 237.6 0.7 0.7 38.1 2.54% Pb
4.87% Zn
----------------------------------------------------------------------------
Analyzed by FA-ES/AA for gold and ICP-MS by Acme Labs, Vancouver BC; Samples
greater than 10g/t Au re-assayed with FA-Grav - check assays are pending;
Silver overlimits (greater than 100g/t Ag) re-assayed with FA-Grav.
greater than 0.5g/t Au or 15g/t Ag cut-off used for compositing intervals,
less than 25% internal dilution unless otherwise indicated
About Bravo
Bravo Gold Corp. has a 100 percent interest in the Homestake Ridge project located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant indicated resource, at a 3.0 g/t AuEq. cut-off, of 191,000 ozs gold and 1,350,000 ozs silver plus an inferred resource of 348,000 ozs gold and 7,990,000 ozs silver (1). Two deposits have been indentified to date and multiple exploration targets remain to be tested on the large, 2585ha property. Bravo also holds a 34 percent interest in Bravada Gold Corp. (TSX VENTURE: BVA.V), which is exploring 13 projects in the Battle Mountain-Eureka Gold trend in Nevada.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp.
(1) The current estimate, as reported in NR-07-10, was prepared by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) and carried out using a block model constrained by 3D wireframes of the mineralized zones. The block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, Cu, Pb, and Zn interpolated using Inverse Distance to the Third Power (ID(3)) weighting. At a 3.0g/t AuEq. cut-off, the model identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and an inferred resource of 2,340,000 tonnes averaging 4.6g/t Au, 105.5g/t Ag and 0.13% Cu.
Contacts
Liana Shahinian
Bravo Gold Corp.
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
http://www.bravogoldcorp.com
http://ca.news.finance.yahoo.com/s/22112010/28/link-f-ccnmatthews-bravo-drills-45-5-metres-2-1g-t.html
basserdan
14 years ago
Bravada 'Spin-out' Approved by Bravo's Shareholders
Friday February 12, 2010, 9:30 am
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 12, 2010) - Bravo Venture Group Inc. (TSX VENTURE:BVG - OTC:BVGIF; FRANKFURT:B6I - News; "Bravo") announced today that shareholders have approved the proposed terms of an Arrangement whereunder Bravo will transfer its U.S. properties in the State of Nevada currently held by its wholly owned operating subsidiary, Bravo Alaska Inc., to a new British Columbia company, Bravada Gold Corporation ("Bravada"). Bravada is in the process of application to list its shares on the TSX-V Exchange.
The Plan of Arrangement, also referred to as a 'spin-out', provides an opportunity for shareholders to benefit from the extensive and highly prospective properties acquired by Bravo in the Battle Mountain-Eureka Gold trend without additional share dilution of Bravo through continuing exploration and development work funded and carried out by Bravada, while Bravo focuses on further exploration and development of its core asset, gold/silver/base metal deposits at its Homestake Ridge project in NW British Columbia. Bravo will maintain a non-controlling interest in the Nevada properties through its retained equity position in Bravada.
President Joe Kizis commented, "The Battle Mountain-Eureka Gold trend contains many large gold deposits and, while currently far less intensely explored, we believe it may ultimately rival the famous Carlin Gold trend. Important new discoveries continue to be made along both trends, demonstrating that persistent and disciplined exploration can be very rewarding. Bravada has an initial portfolio of 13 properties (approx. 9,000 hectares, or approximately 35 square miles), one of the largest land holdings of any junior in the BM-E trend. Drill targets have already been identified at six of the properties, with permitting either complete or in progress. Other property acquisitions are being considered that could further enhance exploration success." More detailed descriptions of the Nevada properties can be found on Bravo's website http://www.bravoventuregroup.com and in Bravo News Release NR-23-09 (dated September 22, 2009), with a description of the recently acquired NSR property, which is located along the BM-E trend within the Cortez district, in Bravo News Release NR-04-10 (dated February 4, 2010).
Terms of the Arrangement:
Bravo Shareholders of record on December 31, 2009 will receive shares of Bravada. 24,119,217 Bravada shares will be issued to Bravo under the Arrangement and in addition, Bravo will subscribe for 1.5 million shares of Bravada for payment of $1.5 million, for total holdings of 25,619,217. Bravo will retain 11,147,687 shares for investment purposes and will distribute 14,471,530 shares to its shareholders on the basis of one Bravada share for each ten Bravo shares held by a shareholder on December 31, 2009.
The Plan of Arrangement has received approval of the Supreme Court of British Columbia, and all conditions to completion of the Plan of Arrangement have been satisfied.
Annual Meeting:
Shareholders have approved all items proposed at the Annual General Meeting including the 2010 Rolling Stock Option Plan.
Name Change:
Bravo will change its name to "BRAVO GOLD CORPORATION" to more fully identify the Company with its developing Homestake Ridge gold deposits. The company will continue to trade under the symbol "BVG".
About Bravo Venture Group Inc. and Bravada Gold Corp.
Bravo Venture Group Inc. is well financed to continue exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Bravo is planning an aggressive 2010 exploration program at Homestake Ridge, with an expected budget of $6 million for +12,000 metres of drilling, which will offset open-ended mineralization at the newly discovered Homestake Silver Deposit and drill-test six exploration targets identified primarily by last season's airborne geophysical survey. Additional metallurgy and permitting will also be included in the program. Currently, the Company is working with Scott Wilson, Roscoe, Postle Associates Inc. to update a resource for the property and to prepare for a Preliminary Assessment of potential economics of the property.
Bravada Gold Corp. will explore its extensive Carlin-type gold holdings, strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. Bravada is planning a 2010 budget of $1,000,000, which will consist of approximately 2,000 metres of drilling in order to test identified targets at two or more of its properties. In addition, the program will include extensive geologic, geochemical, and geophysical work in order to identify drill targets at its newest holding, the NSR property, located in the prolific Cortez Mining district.
Directors and Officers elected and appointed
The Bravo Board of Directors elected at the Annual General meeting and Officers appointed at the following Directors' meeting are:
Joseph A. Kizis, Jr. Director and President
Lawrence Page, Q.C. Director and Chairman
Robert Swenarchuk, Director and Senior Vice President, Corporate Development
Stephen Beardslee, Director and Audit Committee member
Terrence Eyton, Director and Audit Committee member
Scott Hean, Director and Audit Committee member
Ken Thorsen, Director
Declan J. Costelloe, Director
Stacey Bligh, Corporate Secretary
Officers and Directors of Bravada appointed at its initial Directors meeting are:
Lawrence Page, Q.C. Director & Officer: Chairman
Joseph A. Kizis, Jr. Director & Officer: President
Paul Dircksen, Director & Audit Committee member
Ross McDonald, Director & Audit Committee member
John R. Kerr, Director & Audit Committee member
Scott Hean, Director
Robert Ingram, Chief Financial OfficerArie Page Corporate Secretary
On behalf of the Board of Directors
Joseph A. Kizis, Jr., Director, President, Bravo Venture Group Inc.
http://finance.yahoo.com/news/Bravada-Spinout-Approved-by-ccn-2218294200.html?x=0&.v=1
goldisking3000
14 years ago
January 11, 2010
Bravo Reports Gold Recoveries from 87% to 92% in Metallurgical Test Work at Homestake Ridge
Bravo Venture Group Inc. announced today that calculated gold recoveries ranging from 87% to 92% were returned from initial metallurgical testing on composite samples from its Homestake Ridge Project, NW British Columbia.
The company reported that the test work, which was conducted on a blend of composites from three different areas in the Main Homestake deposit, involved combinations of gravity separation, flotation, whole ore cyanidation and concentrate cyanidation to derive four separate process flowsheets. These resulted in calculated recoveries of 87% to 92% for gold and 59% to 70% for silver.
Gravity recovered 35% of the gold and 20% of the silver into a gravity concentrate. Lock-cycle flotation tests on gravity tails yielded gold, silver and copper recoveries of 85%, 84% and 95%, respectively, while direct cyanidation of gravity tails yielded gold and silver extractions of 87% and 49%, respectively.
Rougher flotation of gravity tails yielded 92% gold and silver recoveries into a rougher flotation concentrate. Cyanidation of reground rougher flotation concentrate yielded gold and silver extractions of 88% and 60%, respectively.
Metallurgical work is being conducted at SGS Lakefield Research Limited under the supervision of Melis Engineering Ltd. of Saskatoon, Saskatchewan.
President Joe Kizis comments, “We are pleased that our initial metallurgical test work has verified our belief that metal recovery should be quite attractive. Further optimization is necessary, of course, but several acceptable recovery options are available. Metallurgical test work continues, particularly on the Hangingwall Silver horizon portion of the Main Homestake deposit, and we are planning to initiate test work on our new discovery, the Homestake Silver deposit.”
Detailed Discussion of Results
Composite ‘HR’
Test work was conducted on Composite ‘HR’, a blend of three sub-composites from the Main Homestake deposit, which was chosen to test both significant head-grade and to approximate the average mineralogical properties of much of the Main Homestake deposit. The sub-composites, which sampled over 235 metres of mineralized interval, represented higher-grade sulphide-rich mineralization from two different areas of the deposit and shallow, lower-grade siliceous mineralization from a third area of the deposit. The analyzed head grade for Composite HR was 6.24 g/t gold 12.7 g/t silver and 0.14% copper.
Mineralogical work on samples from Composite HR, which included Scanning Electron Microscopy, revealed that the samples consists mainly of potassium feldspar (35.2%), quartz (27.5%), and moderate amounts of calcite/dolomite (7.8%), sulphides (<8.0%), clays (3.2%), chlorite (2.4%), and other minor components. Chalcopyrite, which accounts for most of the copper in the sample, is a minor component at 0.5%. Trace amounts of other sulphides, such as sphalerite, galena, arsenopyrite and pyrrhotite, are also present. Pyrite makes up 92.3% of the sulphides.
Gold is present as free particles, and attached or locked in particles of pyrite and silicate minerals. Numerous gold grains, some as large as 100 to 150 microns, were observed.
Silver is present as native silver, electrum, krustelite, hessite, silver tetrahedrite, acanthite, pyrargyrite, and as an alloy with antimony.
Process Options
The test work considered four process flowsheets, all incorporating gravity recovery at the front end of the circuit. These included:
Option 1 – gravity recovery then flotation of gravity tails to produce a gold/silver concentrate with low copper values for sale to a smelter
Option 2 – gravity recovery then on-site dore smelting of gravity concentrate and flotation of gravity tails to produce a gold/silver concentrate with low copper values for sale to a smelter,
Option 3 - gravity then whole-ore cyanidation and dore production on site,
Option 4 - gravity then flotation of rougher concentrate and cyanidation of gravity and rougher concentrate and Dore production on site.
Metallurgical Efficiencies
Gravity recovery yielded 35% of the gold and 20% of the silver into a gravity concentrate representing approximately 0.05% of the feed weight. Gravity tails thus contained 65% of the gold and 80% of the silver.
Lock-cycle flotation tests on gravity tails yielded gold, silver and copper unit recoveries of 85%, 84% and 95%, respectively, into a concentrate representing 4.5% of the feed weight. The overall gross recovery of a gravity/flotation circuit was thus estimated at 90% for gold, 87% for silver and 95% for copper.
Direct cyanidation of gravity tails yielded gold and silver extractions of 87% and 49%, respectively, representing overall gross recoveries of 92% for gold and 59% for silver for a gravity/cyanidation circuit.
Rougher flotation of gravity tails yielded 92% gold and silver recoveries into a rougher flotation concentrate representing 20% of the feed weight. Cyanidation of reground rougher flotation concentrate yielded gold and silver extractions of 88% and 60%, respectively, representing gross overall recovery values of 88% for gold and 64% for silver for a gravity/flotation/ cyanidation circuit.
Flowsheet Comparison
Based on the metallurgical test results and a composite head grade of 6.24 g/t gold, 12.7 g/t silver and 0.14% copper, the estimated recoveries for each of the four process options are summarized as follows. Note that recoveries listed in Options 1 and 2 assume that the concentrate is marketable (an assessment of potential smelters will form part of the on-going work for the project) and include deductions for typical copper concentrate smelter payment terms to make the values comparable to recoveries from cyanidation.
Option 1 – Recoveries listed include deductions for typical copper concentrate smelter payment terms for gold, silver and copper assuming the combined concentrate is saleable, based on a combined concentrate representing 4.5% of the feed weight and a calculated concentrate grade of 125 g/t gold, 245 g/t silver and 3.0% copper. These recovery values do not include any deduction for concentrate treatment charges, penalty charges or transportation costs.
Option 2 - Recoveries listed include deductions for typical copper concentrate smelter payment terms for gold, silver and copper assuming the flotation concentrate is saleable, based on a flotation concentrate representing 4.5% of the feed weight and a calculated concentrate grade of 70 g/t gold, 175 g/t silver and 3.0% copper. These recovery values do not include any deduction for concentrate treatment charges, penalty charges or transportation costs.
Test work Composite HR is essentially complete except for some tailings analyses and a detailed concentrate analysis, which is due in early 2010.
Composite ‘SZ’
Test work was also begun on Composite ‘SZ’, a fourth and mineralogically distinct sub-composite of samples from the Hangingwall Silver horizon of the Main Homestake deposit, and will be completed in early 2010. It will include lock-cycle testing to quantify flotation recoveries under conditions approaching steady state, and mineralogical examination of the composite to determine the mode of occurrence of silver and gold. The assay for this composite is 12.4 g/t gold, 1,366 g/t silver, 0.07% copper, 0.4% lead and 0.91% zinc.
The mineralogy of Composite SZ is similar to mineralization identified in the newly discovered Homestake Silver deposit, which is located approximately 700 metres to the southeast of the Main Homestake deposit and was the focus of recent drilling by Bravo at the Homestake Ridge Project.
About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Pursuant to the recently announced “Plan of Arrangement”, Bravada Gold Corp. will focus on exploring Bravo’s extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada.
Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors
“Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President,
Bravo Venture Group Inc.
For further information, please visit the company’s website at www.bravoventuregroup.com or contact Jeff Stuart or Ran Davidson at either 1-888-456-1112 or 604-684-9384 or by email at corpdev@mnxltd.com.
goldisking3000
14 years ago
January 8, 2010
Bravo Receives $1.7 million in Warrant Exercises
Bravo Venture Group reported today that warrant exercises during the month of December amounted to a total of 3,381,750 new common shares being issued for a total of $1,742,200. At December 31 the company's cash position was $9,650,000 and shares outstanding stood at 144,715,300.
The company said that the exercise includes 2,000,000 at $0.60 per share; 1,181,750 at $0.40 per share; 190,000 at $0.35 per share, and option exercises of 10,000 at $0.30 per share.
Bravo also reported today is has granted 2.6 million incentive stock options to directors, officers, employees and consultants, each exercisable at $0.45 per share for a period of five years. The granting of the stock options is subject to regulatory approval.
About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Pursuant to the recently announced “Plan of Arrangement”, Bravada Gold Corp. will focus on exploring Bravo’s extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada.
Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors
“Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President,
Bravo Venture Group Inc.
goldisking3000
14 years ago
January 6, 2010
Bravo Drills 12.1g/t Au Over 24.4 Metres, Expanding Homestake Silver Deposit
Bravo Venture Group Inc. reported today that high-grade gold intercepts from two major 100 metre step-out drill holes continue to expand the width and lateral dimensions of the mineralization in the Homestake Silver deposit on its 100 percent owned Homestake Ridge Project, located in NW British Columbia. Homestake Silver is believed to be a separate, second deposit on the Homestake Ridge property, located approximately 700 metres to the southeast of the Main Homestake deposit.
The Company reported multiple high-grade gold intercepts of significant thickness in drill hole HR09-165. Highlights of three of these intercepts, all estimated true thicknesses, include:
• a 24.4 metre interval averaging 12.1g/t gold and 6.8g/t silver, which included a higher-grade 2.4 metre interval averaging 87.0g/t gold and 22.1g/t silver.
• a 14.5 metre interval averaging 4.8g/t gold and 2.1g/t silver, which included a higher-grade 2.5 metre interval averaging 10.4g/t gold and 3.3g/t silver.
• and a 2.7 metre interval averaging 10.0g/t gold and 134.3g/t silver.
The Company also reported that newly received assays have expanded a second mineralized zone in drill hole HR09-164 from a previously reported 0.4 metre interval averaging 7.1g/t gold and 148.0g/t silver to 33.2 metres averaging 1.5g/t gold and 5.1g/t silver, which included a 3.6 metre interval averaging 7.9g/t gold and 37.5g/t silver.
Figure 1: Longitudinal section of the Homestake Silver Deposit
Results were also received from drill hole HR09-163 and included a 3.5 metre interval averaging 2.9g/t gold and 155.7g/t silver within a 40.4 metre interval averaging 0.3g/t gold and 49.8g/t silver. Anomalous, but generally lower grade silver values were returned from several holes that tested the southeastern extension of the mineralized zone. All intervals are reported as estimated true thickness.
Thick intervals of high-grade gold mineralization in drill holes HR09-164 and HR09-165 have significantly increased both the thickness and lateral extent of this gold-enriched portion of the Homestake Silver zone. Both holes are significant step outs of at least 100 metres from prior mineralized intercepts and are entirely open along strike to the northwest and at depth. Drilling at the Homestake Silver deposit from 2007 to 2009 has identified high-grade silver and gold mineralization, sometimes in multiple horizons, over +500 metres of strike and 400 metres of dip. Mineralization remains open down-dip along this full strike-length.
Table 1: Summaries of Selected Assays from the Homestake Ridge Project
Analyzed by FA-ES/AA for gold and ICP-MS by Acme Labs, Vancouver BC; Samples >10g/t Au re-assayed with FA-Grav – check assays are pending; Silver overlimits (>100g/t Ag) re-assayed with FA-Grav. >0.2g/t Au and 20g/t Ag cut-off used for compositing intervals, <20% internal dilution unless otherwise indicated
Click here for a PDF of Table 1
Homestake Ridge Project
Bravo has completed drilling for the season at the Homestake Ridge Project and crews are in the process of demobilization. A total of 48 holes have been cored on the property for 13,436 metres during this year’s program. Assays from 5 drill holes are pending.
Twenty-two holes have been drilled in Homestake Silver deposit (two lost), 22 holes in the Main Homestake deposit (four lost), and six holes tested other targets on the claim group (one lost). An updated long section of the 2009 drill plan and a full compilation of the 2009 assay summaries are available on Bravo’s website at bravoventuregroup.com.
About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Pursuant to the recently announced “Plan of Arrangement”, Bravada Gold Corp. will focus on exploring Bravo’s extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada.
Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors
“Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President,
Bravo Venture Group Inc.
basserdan
15 years ago
Bravo Venture Group Inc. reports high-grade gold mineralization in an offset hole to HR08-87 at the Main Homestake zone at its 100 percent owned Homestake Ridge Project located in NW British Columbia.
Offset to Hole -87 at Bravo’s Homestake Ridge Project Returns 13.0g/t Au and 19.5g/t Ag over 11.9m within 42.4m of 6.1g/t Au
The company (BVG.V~BVGIF) said that drill hole HR09-152 intersected an 11.9 metre interval averaging 13.0g/t gold and 19.5g/t silver within a 42.4 metre interval of 6.1g/t gold and 11.3g/t silver. The hole, located 35 metres to the southeast of hole HR08-87, tested a previously undrilled 65 metre interval between drill holes HR09-87 (15.1 metres of 69.2g/t gold and 29.4g/t silver; see NR-22-08) and HR05-17 (7.6 metres of 10.6g/t gold and 21.8g/t silver; see NR-20-05), and confirms continuity of significant grade and thickness within this strongly mineralized structure. All mineralized intervals are reported as estimated true thickness.
Table 1: Summaries of Selected Assays from the Main Homestake Zone
Analyzed by FA-ES/AA for gold and ICP-MS by Acme Labs, Vancouver BC; Samples >10g/t Au re-assayed with FA-Grav – check assays are pending; Silver overlimits (>100g/t Ag) re-assayed with FA-Grav. >0.2g/t Au or 15g/t Ag cut-off used for compositing intervals, <20% internal dilution on +10 metre intervals.
The company also reports that drill hole HR09-133 returned a 1.1 metre interval averaging 8.1g/t gold and 3.3 g/t silver within a 9.3 metre interval averaging 1.8g/t gold and 1.6g/t silver. This hole represents a 60 metre lateral offset to the northwest of previously reported mineralization at the Main Homestake zone.
The company said that 44 holes (eight of which were lost prior to target depth) have been drilled or are in progress for approximately 11,100 metres in the 2009 program and assays are awaited for 22 holes. Sixteen holes have been drilled in the Homestake Silver zone (three lost), 22 holes (four lost) in the Main Homestake zone and six holes in other targets on the claim group (one lost).
The company continues to aggressively drill-test the Homestake Silver zone and up to 1500 additional metres of drilling are planned for the remainder of the season.
An updated long section of the 2009 drill plan and a full compilation of the 2009 assay summaries are available on Bravo’s website at www.bravoventuregroup.com.
About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Pursuant to the recently announced “Plan of Arrangement”, Bravada Gold Corp. will focus on exploring Bravo’s extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada.
Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors
“Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President,
Bravo Venture Group Inc.
For further information, please visit the company’s website at http://www.bravoventuregroup.com
http://www.bravoventuregroup.com/en/index.php?page=news&newsid=167
NYBob
15 years ago
Bravo Reports Progress at Homestake Ridge
Bravo Venture Group Inc. reports today on exploration progress at its 100 percent owned Homestake Ridge Project located in NW British Columbia. The company said that nine drill holes have been completed to date for a total of 1480 metres. The initial three drill holes were abandoned short of the target due to drilling difficulties. These drill holes were repositioned and successfully re-drilled to target depth. The 2009 exploration program started with two drill rigs on the Main Homestake zone, which focused on delineating vertical and lateral extensions of high-grade mineralization encountered in drill hole HR08-87 (52.5 metres grading 21.0g/t Au and 11.6g/t Ag including 7.7 metres of 181.6g/t Au). Drilling with one rig will continue to test the northwest lateral extension of the Main Homestake zone for an additional +300 metres.
The second rig has now been moved to the southeast of the Main Homestake zone and has begun testing the 600 metre strike-length between the Main Homestake and Homestake Silver zones. Drilling during the 2008 season at the Homestake Silver zone returned high-grade values of up to 587g/t Ag and 1.0g/t Au over 3.5 metres from drill hole HR08-98. Soil geochemistry suggests the Homestake Silver zone is an extension of silver-rich, upper portions of the Main Homestake zone, where, for example, hole HR09-99 intersected 29.2 metres averaging 8.4g/t Au and 345.6g/t Ag including 9.4 metres of 24.9g/t Au and 1042.9g/t Ag.
The company also reports that a 630 line-kilometre AeroTEM III airborne geophysical survey has been completed over the property. Processing of the survey is currently underway and will provide detailed magnetic, EM and radiometric information to assist mapping and identification of possible additional targets on the property.
Bravo plans an aggressive +$5.0 million drilling program for the 2009 exploration season, consisting of approximately 8,500 metres in up to 40 drill holes. Bravo anticipates an approximate 70-day field season, which should conclude in October.
Woewodski Island
The company also reports that it has received drill results from its recent drilling program at the Woewodski Island project. The results were not encouraging, and the company has returned the property to its vendor.
In Other News
Bravo also said today the company has received $526,788 through the exercise of 1,524,377 share purchase warrants, up to August 12, 2009.
About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring precious and base metal-rich projects within North America, currently with properties in Nevada, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada. The Homestake Ridge project is a gold-rich epithermal/VMS-related vein system within Eskay Creek/Silbak-Premier stratigraphy.
Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release.
On behalf of the Board of Directors
“Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President, Bravo Venture Group Inc.
For further information, please visit the company’s website at www.bravoventuregroup.com or contact Jay Oness at either 1-888-456-1112 or 604-684-9384 or by email at corpdev@mnxltd.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. We seek safe harbor.
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