NR drilling updateBravo Venture expands Homestake Ridge drill program
Bravo Venture Group Inc (C:BVG)
Shares Issued 91,233,174
Last Close 10/6/2008 $0.33
Tuesday October 07 2008 - News Release
Mr. Joseph Kizis Jr. reports
BRAVO EXPANDS DRILLING PROGRAM AT HOMESTAKE RIDGE
Bravo Venture Group Inc. is expanding the current drilling program at the Homestake Ridge project to include two additional drill holes which are designed to offset mineralization in drill hole HR08-87 which returned a 73-metre, downhole intercept (approximate 52-metre true width) averaging 20.99 grams per tonne (g/t) gold (Au) and included a downhole, 7.65-metre bonanza intercept averaging 181.58 g/t Au.
The company stated that the two additional drill holes will test 25 metre lateral and vertical offsets of the mineralization in hole HR08-87 to help delineate the extents of the higher grade zones. One drill hole will test the vertical continuity between higher grade intercepts of holes HR06-30 and HR08-87. A second hole will test the sub-horizonatal projection of shallow (less than 100m depth) mineralization that extends laterally to the northwest of the HR08-87 intecept.
The company awaits assay results from several other holes that have been completed in this extension of the deposit, as well as assay results from holes drilled at other portions of the Homestake Ridge property.
Bravo has now completed, in the 2008 exploration program, over 7,800 metres of drilling in 38 core holes over the entire property. To date, 31 drill holes have been completed at the Main Homestake Ridge target, three drill holes have been completed at the Homestake Silver target, and two holes completed on each of the Vanguard Gold and Vanguard Copper targets.
The company also reported today that it has granted 1.685 million incentive stock options to directors, officers, employees and consultants, each exercisable at $0.33 per share, being the closing price on the TSX.Venture Exchange on October 06/08, and for a period of five years.
The granting of the stock options is subject to regulatory approval.