NewsBravo Ventures drills 0.7 m of 49 g/t Au at Homestake
2009-10-06 11:30 ET - News Release
Mr. Joseph Kizis reports
BRAVO ENCOUNTERS 49.0G/T AU AND 9,027G/T AG OVER 0.7 METRES AT HOMESTAKE RIDGE
Bravo Venture Group Inc. has intersected bonanza-grade gold and silver mineralization in a second hole at the Homestake silver zone and has continued to return strongly anomalous gold assays in drill holes at the Main Homestake zone on its 100-per-cent-owned Homestake Ridge project located in northwest British Columbia.
Homestake silver zone
The company said that drill hole HR09-146 intersected a 0.7-metre interval averaging 49 grams per tonne (g/t) gold and 9,027 g/t silver within a 3.6-metre interval of higher grade averaging 10.6 g/t gold and 1,689.6 g/t silver which form part of an overall 22.6-metre interval averaging 2.1 g/t gold and 294.3 g/t silver. This mineralized intercept is an approximately 70-metre lateral and down-dip offset from previously reported high-grade mineralization in hole HR09-137 (4.1 metres of 6.9 g/t gold and 193.5 g/t silver) and represents the expansion of this newly identified gold-enriched area of mineralization within the Homestake silver zone. Additional portions of drill hole HR09-146, both above and below the reported intercept, are strongly silicified with associated sulphides, mainly pyrite. Assays from these intervals are pending.
The company also reported that additional assays from drill hole HR09-137 have expanded an earlier reported mineralized interval to 26.8 metres grading 1.4 g/t gold and 51.3 g/t silver and have identified a deeper silver-enriched interval which returned 3.5 metres grading 0.25 g/t gold and 162.9 g/t silver. All intervals are reported as estimated true thickness.
The company continues to aggressively drill-test the Homestake silver zone. Eight holes have now been completed to target depth and up to 2,000 additional metres of drilling are planned for the remainder of the season.
Main Homestake zone
Assays have been received from two drill holes at the northwestern margin of the Main Homestake zone and two drill holes that tested base-metal rich mineralization deeper in the deposit. Higher-grade assays of 9.2 g/t gold over a 1.1-metre interval and five g/t gold over a 1.5-metre interval were returned from drill hole HR09-129, which extended this portion of the deposit 75 metres to the northwest of the deposit boundary delineated by 2008 drilling.
Drilling in the northeastern part of the deposit returned a 23.8-metre interval averaging 1.7 g/t gold and 1.5 g/t silver from drill hole HR09-143 and a 0.9-metre interval grading 11.4 g/t gold and 15.2 g/t silver from HR09-141. Mineralization in both of these holes is spatially associated with higher than average copper values in the form of chlorite-pyrite-quartz stockworks with locally semimassive to massive chalcopyrite. Individual veins vary from several to 10-plus centimetres in thickness and return greater than 1 per cent copper over 0.4-metre to 0.9-metre intervals. Similarly, a single 10-plus-centimetre-thick sphalerite-galena vein, when averaged over a 0.42-metre interval, returned 15 per cent lead, 18.1 per cent zinc and 1.1 per cent copper. These holes offset mineralization from drill holes HR06-41 and HR07-51 and provide further definition to the distribution of mineralization in the lower parts of the deposit.
The company said it has now completed 34 holes (seven of which were lost prior to target depth) for approximately 8,500 metres in the 2009 program and is awaiting assays for 20 holes. Ten holes have been drilled in Homestake silver zone (two lost), 20 holes in the Main Homestake zone and four holes tested other targets on the claim group. An updated long section of the 2009 drill plan and a full compilation of the 2009 assay summaries are available on Bravo's website.
Compilation of surface mapping and recently acquired airborne geophysical data has identified several significant targets through the central and northern part of the property, with drill testing of one or more of these targets planned for this latest phase of drilling, in addition to further drilling planned for the Homestake silver zone.
President Joe Kizis commented: "The discovery of bonanza-grade gold and silver at the essentially 'blind' Homestake silver zone was the result of good prospecting and persistence by our geologic staff and consultants over the past few years. We have always believed that deposits such as the Main Homestake discovery occur in groups and that assimilation of geologic data and persistence would reward us with additional discoveries. Recognition of the strong correlation of gold mineralization with potassic alteration suggested to us that radiometric geophysics could identify new target areas. Results of that survey define the Main Homestake zone surprisingly accurately, and suggest that our previous drilling at the Homestake silver zone tested only the northern margin of a large region of potassic alteration with sizeable on-strike potential. There are other similar anomalies on the property, and they are being field checked at this time. We intend to drill one of these targets this season, the north dome, where a strongly bleached felsic volcanic dome contains strong veining by pyrite."
Rob Macdonald (PGeo) is the qualified person responsible for reviewing the technical results in this release.
We seek Safe Harbor.