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Bravo Announces Mobilization to Homestake Ridge
7/13/2009 2:36:12 PM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jul 13, 2009 (Marketwire via COMTEX News Network) --
BravoVenture Group Inc. ("Bravo") (TSX VENTURE:BVG)(FRANKFURT:B6I) reportedtoday that field crews have mobilized to the Alice Arm camp inpreparation for the start of drilling at its wholly owned HomestakeRidge Au-Ag-Cu deposit located 32km southeast of Stewart, within the"Eskay Creek" region of northwestern British Columbia.
Bravoplans an aggressive +$5.0 million drilling program consisting ofapproximately 8,500 metres in up to 40 drill holes. The 2009 programwill also include a 630 line-kilometer airborne geophysical survey tobe followed by surface exploration.
Initial drilling will testvertical and lateral extensions of high-grade mineralizationencountered in drill holes HR08-87 (52.5 metres grading 21.0g/t Au and11.6g/t Ag including 7.7 metres of 181.6g/t Au), HR08-118 (62.5 metresaveraging 6.1g/t Au and 11.3g/t Ag including 8.5 metres grading 30.3g/tAu) and HR08-120 (69.7 metres averaging 6.1g/t Au and 15.3g/t Agincluding 7.1 metres grading 27.9g/t Au and 37.2g/t Ag) and explore forpossible bonanza-grade feeder faults beneath the known strataboundmineralization. All mineralized intervals are reported as estimatedtrue thickness.
Additional drilling will test the NW extensionsof the Main Homestake zone and the continuity of mineralization betweenthe Main Homestake zone and the Homestake Silver zone, located 600metres to the southeast. Drilling during the 2008 season at theHomestake Silver zone returned high-grade values of up to 587g/t Ag and1.0g/t Au over 3.5 metres from drill hole HR08-98 and in drill holeHR08-99, 29.2 metres averaging 8.4g/t Au and 345.6g/t Ag including 9.4metres of 24.9g/t Au and 1042.9g/t Ag and 1.4 metres of 152.5g/t Au and6075.7g/t Ag. Two drill rigs are on route to the project and both arescheduled to start drilling on the Main Homestake zone in mid-July.
Bravo anticipates an approximate 70-day field season, which should conclude in October.
Metallurgical Studies
Compositesamples of quartered core representing mineral styles from fiveseparate zones through the deposit have been submitted to SGSlaboratories in Lakefield, Ontario for metallurgical studies. Initialwork will focus on determining the metallurgical properties of a singlerepresentative composite from the Homestake Main zone before moredetailed work proceeds on the five individual composites. Results fromthis initial phase of work are anticipated in 4 to 6 weeks.
The metallurgical program is being conducted under the supervision of Melis Engineering Ltd.
Appointment of Engineering Firm
Bravoalso reported that it has retained Scott Wilson Roscoe PostleAssociates Inc. (Scott Wilson RPA) to consult in the development of theHomestake Ridge Project. Scott Wilson RPA will initiate an internalreview of all historical data from the project and planned programs,including resource estimates and modeling, QAQC protocols, engineeringstudies and metallurgical studies. The Scott Wilson Mining Group,including Scott Wilson Roscoe Postle Associates Inc., is based inToronto with offices in Canada, the United Kingdom, China, and Zambia.The Mining Group consults to major mining companies, junior mining andexploration companies, financial institutions, governments, law firmsand individual investors on all aspects of mining development andoperation.
Woewodski Island Drilling
The Company alsoreported that it has completed drilling at its Woewodski Islandprecious-metal rich VMS project in southeastern Alaska. Three holeswere completed for a total of 862 metres, which targeted severalgeophysical anomalies and prospective stratigraphy in the East Lake"paleo-basin". Sampling of drill holes has been completed and submittedto the ALS Chemex for analyses. Assay results are pending.
About Bravo Venture Group Inc.
Bravo'sexploration activities are focused within North America, specificallyin N.W. British Columbia, Nevada, and S.E. Alaska. The VMS/Epithermalgold/silver Homestake Ridge project in British Columbia is advancingwith excellent drill results and a NI43-101 compliant technicalevaluation which reported an inferred resource of 903,231 ounces ofgold and 5,745,746 ounces of silver contained within 11.9 milliontonnes with an average grade of 2.36 g/t Au and 15.0 g/t Ag using acut-off grade of 0.5 g/t gold(1) . The 2008 exploration programconsisted of an extensive 42-hole, 8,400 metre multi-rig drill programthat demonstrated continuity of mineralization that remains open downdip and along strike to the southeast and northwest. The WoewodskiIsland prospect in S.E. Alaska is a precious-metal rich VMS target,which lies within a mineralized trend that hosts both the Greens Creekand Windy Craggy VMS deposits. The company also has a substantial landpackage consisting of twelve properties located in the BattleMountain/Eureka trend, Nevada.
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 forwhich quantity and grade or quality can be estimated on the basis ofgeological evidence and limited sampling and reasonably assumed, butnot verified, geological and grade continuity. The estimate is based onlimited information and sampling gathered through appropriatetechniques from locations such as outcrops, trenches, pits, workingsand drill holes. Due to the uncertainty which may attach to InferredMineral Resources, it cannot be assumed that all or any part of anInferred Mineral Resource will be upgraded to an Indicated or MeasuredMineral Resource as a result of continued exploration. Confidence inthe estimate is insufficient to allow the meaningful application oftechnical and economic parameters or to enable an evaluation ofeconomic viability worthy of public disclosure. Inferred MineralResources must be excluded from estimates forming the basis offeasibility or other economic studies (43-101CP, CIM, 2001).
We seek safe harbor.
SOURCE: Bravo Venture Group Inc.
Bravo Venture Group Inc. Jay Oness 1-888-456-1112 or 604-684-9384 corpdev@mnxltd.com www.bravoventuregroup.com
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