- Published: 04 December 2008
- Written by Editor
Bravo Reports 69.7 Metres of 6.1 g/t Gold in Offset Hole at Homestake Ridge; 7.1 Metre Interval of 27.9 g/t Gold Projects Into Untested Open Area
Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that high-grade gold and silver values have been returned from drill hole HR08-120 on its 100 percent owned Homestake Ridge project in NW British Columbia.
Significant intercepts from hole HR08-120 include:
- a 69.7 metre interval (est. true thickness) averaging 6.1g/t Au and 15.3g/t Ag
- including a 7.1 metre interval grading 27.9 g/t Au and 37.2g/t Ag.
- and a second interval of 14.2 metres grading 8.5g/t Au and 6.3g/t Ag.
Gold mineralization in drill hole HR08-120 occurs as three main intervals and is associated with strong silicification and chloritization of the host rock. The hole, which was drilled from the same pad as hole HR08-118, cross-cuts to the northeast the projection of drill hole HR08-87. Mineralized intervals within HR08-120 show strong lateral continuity between similar intervals within the adjacent drill holes. The higher grade mineralization is open to the northwest, projecting into an area largely untested by drilling.
Table I: Summaries of New Assays from the Homestake Ridge Project
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Collar Data
------------------ Est. True
AZ DIP Depth From To Interval Thickness Au Ag
Hole No. Deg Deg (m) m m m m g/t g/t
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HR08-120 160.9 -55.0 194.2 52.9 147.0 94.2 69.7 6.1 15.3
inc. 52.9 57.8 5.0 3.7 6.2 139.8
and 107.7 117.3 9.6 7.1 27.9 37.2
and 122.7 141.9 19.3 14.2 8.5 6.3
inc. 137.0 141.9 5.0 3.7 17.7 12.3
inc. 137.0 138.5 1.6 1.1 33.3 20.4
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HR08-103 222.9 -45.0 125.9 77.1 95.4 18.3 15.3 1.5 5.3
inc. 90.9 94.7 3.8 3.1 3.1 14.0
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HR08-119 219.9 -46.0 99.7 29.1 46.1 17.0 14.6 0.8 10.8
and 62.3 73.9 11.6 10.0 1.4 5.0
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Analyzed by FA-ES / ICP by Acme Analytical Labs, Vancouver BC; Samples
greater than 34g/t Au re-assayed with FA-Grav - check assays are pending;
Silver overlimits (greater than 100g/t Ag) re-assayed with FA-Grav.
The company also reported that additional assays from drill holes HR08-119 and HR08-103 returned +14 metre intervals (est. true thickness) of strongly anomalous gold mineralization that correlate with previously reported higher grade assays in the upper parts of drill holes HR06-50 (4.9m of 14.3g/t Au), HR08-120 (5.0m of 6.2g/t Au) and HR08-118 (5.8m of 13.4g/t Au) and HR08-97 (4.5m of 3.6g/t Au). These mineralized intervals form a moderately plunging northwest-trending horizon of +130 metre strike length which is open to the northwest.
The company noted that similarly, and more significantly, the extension of the higher grade mineralized horizons that occur deeper in holes HR08-87 (15.1m of 69.2g/t Au), HR06-30 (5.9m of 10.8g/t Au), HR08-118 (8.6m of 30.3g/t Au) and HR08-120 (7.1m of 27.89g/t Au) project to the northwest into an area down-dip of drill holes HR08-119 and HR08-103, leaving some of the highest grade portions of the Main Homestake zone open to the northwest, projecting into an area largely untested by drilling and which will become one of several high priority target areas of the 2009 drill program.
About Homestake Ridge
The property consists of Mineral Title claims and Crown Grant claims in which a 100% interest was earned by Bravo from Teck Cominco and a private Optionor, respectively. There is a 2% NSR royalty in favour of Teck Cominco and on other portions of the located mineral claims there is a 2% NSR royalty in favour of the original Optionor. Bravo has the right to purchase 1% of the Teck Cominco royalty for $1 million and 1% of the original Optionor's royalty for $1 million. The Crown Granted mineral claims also are subject to a 2% NSR royalty.
In March 2007 Bravo announced an Inferred Resource estimate at the Main Homestake zone of 903,231 ounces of gold and 5,745,746 ounces of silver contained within 11.9 million tonnes with an average grade of 2.36 g/t Au and 15.0 g/t Ag using a cut-off grade of 0.5 g/t gold (see NR-04-07). (1) The deposit remains open down dip and along strike to the southeast and northwest. A long section showing the location of completed drill holes on the Homestake Main zone has been posted on the company's website www.bravoventuregroup.com.
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, Alaska, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. The Woewodski Island project in southeast Alaska hosts both precious and base metal-rich massive sulphides and gold-rich orogenic quartz veins. 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., Director, President, Bravo Venture Group Inc.
(1) An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Due to the uncertainty which may attach to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred Mineral Resources must be excluded from estimates forming the basis of feasibility or other economic studies (43-101CP, CIM, 2001).
SOURCE: Bravo Venture Group Inc.
Bravo Venture Group Inc. Jay Oness 1-888-456-1112 or (604) 684-9384 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.bravoventuregroup.com
