Drilling Begins at Bravada's Wind Mountain Gold-Silver Project in
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/18/12 -- Bravada
Gold Corporation (TSX VENTURE:BVA)(FRANKFURT:BRT) ("Bravada")
announced today that drilling has commenced at the Wind Mountain
gold/silver property, located in northwestern Nevada. A program of
seven to ten reverse-circulation holes are planned for a total of
1200 to 1500 meters, which should take approximately two months
including receipt of assays.
Bravada has delineated a NI-43-101 resource at Wind Mountain of
570,000 ounces of gold and 14.7 million ounces of silver in the
Indicated category and an additional 354,000 ounces of gold and 10.1
million ounces of silver in the Inferred category (see NR-06-12,
dated April 11, 2011). The current program is an initial test of two
large exploration targets that could significantly add to the
resource and is based on mapping and 2011 drilling by Bravada. The
targets, hidden beneath shallow alluvial cover, are the undrilled
Zephyr target and the down-dip extension of shallow oxide
mineralization that Bravada drilled at the North Hill target during
2011. For example, previously announced WM11-038 at North Hill
intersected 6.1m of 0.619g/t Au and 17.9g/t Ag beginning at surface.
The program is being funded by Argonaut Gold Inc. (AR.T, "Argonaut").
Argonaut can fund staged expenditures totalling US$7.5million over a
three-year period to earn the option to purchase the project by
paying Bravada a price of $30 per ounce of gold-equivalent contained
within Measured and Indicated resource categories as determined by
independent Qualified Persons. Further details of the agreement can
be found in Bravada's news release of September 18, 2012 (NR-11-12).
About Wind Mountain
The past-producing Wind Mountain gold/silver project is located
approximately 160km northeast of Reno, Nevada in a sparsely populated
region with excellent logistics, including county-maintained road
access and a power line to the property. A Technical Report for an
independent Preliminary Economic Assessment (PEA) and resource
estimate was conducted by Mine Development Associates (MDA) of Reno
and has been posted on SEDAR, as previously reported (see NR-07-12
dated May 1, 2012).
Mine Development Associates compiled the technical report. 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.
About Bravada Gold Corporation
Bravada is a member of the Manex Resource Group of companies with an
exploration office in Reno, from which it is exploring its extensive
Carlin-type and low-sulfidation-type gold holdings strategically
located within numerous productive gold trends in Nevada. Homestake
Resource Corporation owns 10.19% of Bravada's 114,834,282 outstanding
Joseph Anthony Kizis, Jr. (AIPG CPG-11513, Wyoming PG-2576) is the
Qualified Person responsible for reviewing the technical results in
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis Jr., Director, President
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.
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.
Bravada Gold Corporation
604.641.2773 or Toll Free: 1.888.456.1112
Press spacebar to pause and continue. Press esc to stop.