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Bravo
Gold Corp. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that final 2010
drilling results have been received from its 100 per cent owned Homestake Ridge Project, located in northwestern British
Columbia.
Homestake Silver Deposit
Highlights from these remaining core drill holes at the Homestake
Silver deposit include (all values are reported as estimated true thickness):
-- a 29.6 metre
interval averaging 2.7g/t gold and 5.6g/t silver, which
includes a 3.6 metre interval averaging 5.3g/t gold and 25.5g/t silver
in hole HR10-214
-- and a 33.7 metre
interval averaging 1.2g/t gold and 45.7g/t silver,
which includes a 2.6
metre interval averaging 5.0g/t gold and 198.3g/t
silver in hole
HR10-213
Holes HR10-213 and -214 were drilled up-dip and down-dip respectively of
previously reported mineralization in HR10-199 (45.5 metres
grading 2.1g/t gold and 16.5g/t silver) and HR09-165 (24 metres
grading 12.1g/t gold) and similarly define broad intervals of strongly anomalous
gold mineralization.
Fox Reef Zone
The company also reported that drilling at the Fox Reef zone continues to
return silver-enriched lead-zinc mineralization including 0.6 metres averaging 0.3g/t gold, 10g/t silver and 0.7% lead
and 3.6% zinc from drill hole HR10-202. Several other holes that tested the
Fox Reef zone contain anomalous mineralization averaging +0.1g/t gold over
+100 metre intervals with locally narrower
intervals of more strongly enriched precious metals.
2010 Exploration Summary
The company reports that the 2010 exploration program was successful in:
-- significantly expanding the
overall "footprint" of the Homestake
Silver
deposit which now
measures 620 metres strike and 480 metres down-dip.
The deposit can be
traced northwest to within 200 metres of the
southeast extent of
the Main Homestake deposit. The Homestake
Silver
deposit remains open
down-dip and on strike to the northwest.
-- providing
better internal definition of the deposit geometry.
Preliminary modeling
the deposit (at a 2g/t cut-off), now including the
2010 data, has
defined a minimum of 12 sub-vertical, en-echelon lenses
and splays.
-- providing better definition of
the distribution of gold and silver
within the Homestake Silver deposit and the identification of a new
higher-grade lens of
mineralization on the northwestern margin of the
deposit and centered
around drill hole HR10-198 (9.6 metres grading
5.9g/t gold and
6.0g/t silver).
-- identifying
additional exploration potential down-dip of silver-enriched
veins to the
northeast, in the hangingwall of the Homestake Silver
deposit. Several of
these veins, intersected in drill holes, contain up
to 40g/t silver and
strongly anomalous pathfinders elements (arsenic-
antimony) and lie
too far to the east of the known deposit, suggesting
the veins may grade
downward into another deposit. Similar metal values
were identified in
the early stages of exploration above the Homestake
Silver deposit.
-- showing continued exploration
potential in a parallel structure at the
Fox Reef zone,
located 600m to the southwest of the Homestake
Silver
deposit, in the
North Dome area, in the area immediately northeast of
the Homestake Silver deposit and several other targets
identified
through surface
exploration following of the 2009 airborne geophysical
anomalies.
Results have now been reported from all 2010 drill holes on the Homestake Ridge Project, although minor in-fill sampling
continues on weakly altered portions of some holes. Data from these holes has
been incorporated into the geological model and an updated resource estimate
is underway, optimizing for higher grade values. The work, undertaken by
Scott Wilson, Roscoe, Postle Associates Inc., will
focus primarily on results from the Homestake
Silver deposit.
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 bravogoldcorp.com.
To view Figure 1, click on the following link: http://media3.marketwire.com/docs/0121BVGfig1.jpg
Table 1: Select Assays from 2010 Drilling at the Homestake
Silver Deposit
Homestake Silver Deposit:
---------------------------------------------------------------------------
Est.
Collar Data
Inter- Tr.
Az Dip Depth From To val
Thck Au Ag
Hole # Deg Deg (m) (m) (m) (m) (m) (g/t) (g/t) Comments
---------------------------------------------------------------------------
HR10- 240.0 -55.0 431.9 227.6 229.3 1.7 1.1 0.3 341.0
205
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 223.0 -45.0 352.7
NSV NSV
207
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 237.0 -64.0 453.2 287.8 298.3 10.5 5.9 1.7 2.9
208
inc.
289.1 294.6
5.5 3.1 2.4 3.4
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 213.0 -54.0 383.1 101.7 131.0 29.3 20.9 0.1 67.4 0.15% Pb
209
178.0 181.2
3.3 2.3 0.1 153.3
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 239.0 -45.0 366.4 59.1 64.8 5.7 4.4 0.1 45.4 0.19% Pb,
211
0.53%
Zn
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 237.0 -49.0 370.9 208.8 254.1 45.4 33.7 1.2 45.7 0.12% Zn
213
inc.
243.0 254.1 11.2 8.3 2.2 78.7 0.20% Pb,
0.36% Zn
inc.
249.6
253.0 3.5 2.6 5.0 198.3 0.61% Pb,
1.12% Zn
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 219.0 -45.0 733.7 516.0 552.1 36.2 29.6 2.7 5.6
214
inc.
537.3 549.2 11.9 9.7 4.0 11.4
inc.
544.8 549.2
4.5 3.6 5.3 25.5
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 261.0 -68.0 175.9 66.6 71.1 4.6 UNK 0.0 18.9 0.1% Mo
215
and
118.3 151.2
32.9 UNK 0.0 15.3
---------------------------------------------------------------------------
Fox Reef Zone:
---------------------------------------------------------------------------
Est.
Collar Data
Inter- Tr.
Az Dip Depth From To val
Thck Au Ag
Hole # Deg Deg (m) (m) (m) (m) (g/t)
(g/t) Comments
---------------------------------------------------------------------------
HR10- 215.0 -53.0 297.8 71.6 72.3 0.7 UNK 0.4 12.6 0.52% Pb,
202
1.74% Zn
and
107.2 107.9
0.8 UNK 0.8 15.2 0.13% Pb,
1.47% Zn
and
249.1 252.9
3.8 UNK 0.7 4.8 0.13% Pb,
0.59% Zn,
25%
Dilution
inc.
252.3 252.9
0.6 UNK 0.3 10.0 0.71% Pb,
3.61%
Zn
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 200.0 -48.0 279.5
UNK NSV NSV Entire
204
Drillhole
averages
0.1g/t Au
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 232.0 -47.0 279.5
UNK NSV NSV 133.7m of
206
0.17g/t
Au
from 109.6
and 243.2m
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 201.0 -64.0 380.5 116.5 122.4 5.9 UNK 0.1 20.8 0.11% Pb,
210
0.3% Zn,
(Diluted)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
HR10- 203.0 -54.0 136.3
UNK NSV NSV
212
---------------------------------------------------------------------------
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 17 percent interest
in Bravada Gold Corp. (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.
(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.
We seek safe harbor.
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.
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