VANCOUVER, Aug. 10, 2017 /CNW/ - Bravura Ventures Corp.
(CSE: BVQ; OTC: BRVVF; FRA: 23B) ("Bravura" or the "Company") wishes to announce it has entered into a LOI dated
August 9, 2017 to acquire 100% of the approximately 1200 hectare Kahuna Cobalt-Silver Property
(collectively, the "Kahuna Property" or the "Property"), located 37km south of Cobalt,
Ontario.
"This transaction increases our land position in an important mining camp and also achieves two objectives. First, we have
established a meaningful land position that specifically focuses on rich cobalt deposits. Second, we have improved the overall
quality of cobalt showings in our portfolio."
About the Kahuna Cobalt Property:
Location
The Kahuna Cobalt property is located 14 km northeast of the town of Temagami and
37km south of the town of Cobalt near the eastern border of Ontario. The district is mining friendly having a rich history of cobalt and silver production.The epicentre
of past producing cobalt mines in Ontario.
Property Status and Configuration
The Kahuna Cobalt property is comprised of 77 claim units and covers approximately 1,200 ha.
Access and Infrastructure
The Property is accessible by boat from Lorrain Lake which is accessed by 12 km of well
maintained gravel surface roads off of leaving a major paved highway connecting the nearby town of Temagami and New Liskeard. The property is located 12 km from rail and
power distribution lines.
Mineralization
Cobalt and silver mineralization occurs in calcite veins within the Nipissing Diabase
as erythrite and native silver.
History
Friday Mines Limited operated the property in the 1920's sinking a shaft and drifting on a 10 inch wide calcite vein
with cobalt mineralization producing cobalt ore. In the 1960's, Gibson Mines Limited explored the property and found cobalt and
silver mineralization. More recently, in 1998 a portion of the property was staked a small soil survey reported anomalous cobalt
and gold in the soil.
Agreement terms
Bravura plans to acquire 100 per cent of the Kahuna property in a share exchange agreement in consideration for:
- Payment for an amount of $300,000 and the issuance of one million common shares to be paid
upon closing.
"The Ontario Cobalt area, we feel is the most prolific Cobalt area in all of Canada. We look to focus our resources and make further acquisitions, while developing existing assets to
increase our shareholder value focused in this region."
Qualified Person
Mike Waldegger, P.Geo, is the qualified person as defined in NI 43-101, that has
reviewed and approved the contents of this press release.
BRAVURA VENTURES CORP.
ON BEHALF OF THE BOARD OF DIRECTORS OF BRAVURA VENTURES CORP.
"Greg Burns"
______________________
Greg Burns, Director
Disclaimer for Forward-Looking Information
Historical data for the prospects were performed under supervision of a Professional Engineer or a geologist, and believed
to be of good quality, with drill core and underground sampling results from fire assay analyses by B.C. Certified Assayers.
However, under NI43-101 policy historical information included in this release has not been verified by a QP, and as such cannot
be relied upon and must be treated as historical in nature.
This press release contains "forward-looking information" within the meaning of applicable securities laws, including
statements that address capital costs, recovery, grade, and timing of work or plans at the Company's mineral projects.
Forward-looking information may be, but not always, identified by the use of words such as "seek", "anticipate", "plan",
"planned", "continue", "expect", "thought to", "project", "predict", "potential", "targeting", "intends", "believe",
"opportunity", "further" and others, or which describes a goal or action, event or result such as "may", "should", "could",
"would", "might" or "will" be undertaken, occur or achieved. Forward-looking information in this press release includes,
but is not limited to, statements regarding expectations of management regarding the acquisition of the Property and
includes that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential
expansion of mineralization, potential type(s) of mining, potential grades as well as to the Company's ability to fund ongoing
expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades,
favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles,
licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources,
anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of the Company
and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which
may cause the actual results to materially differ, and/or any future results expressed or implied by such forward-looking
information. Although the Company believes that the expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking information is
subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those
contained in the statements including, without limitation, the risks that the Company may not have the funds necessary to make
its payments pursuant to the Agreement, that the CSE may not approve the transaction, and other factors beyond the control of the
Company.
Additional information on risks and uncertainties can be found within Financial Statements and other materials found on the
Company's SEDAR profile at www.sedar.com. Although Bravura has
attempted to identify important factors that could cause actual actions, events or results to differ materially from those
described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual
results and future events could differ materially from those anticipated in such statements. Bravura withholds any obligation to
update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless
required by law.
SOURCE Bravura Ventures Corp.
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