|
| ||||||||||||||
October 2, 2008
Bravo Reports 73m of 20.99 Grams Gold Per Tonne at Homestake Ridge Including an Intercept of 7.65m of 181.58 Grams Gold Per TonneBravo Venture Group Inc. reported today it has received additional assays from its 100 percent-owned Homestake Ridge project in NW British Columbia, including what it considers to be the richest and most significant gold intercept yet recorded from the project. The company said certified assays from hole HR08-87 include a 73 metre down-hole intercept (approximate 52 metre true width) averaging 20.99 g/t Au. The extensive intercept includes a down-hole 7.65 metre bonanza intercept averaging 181.58 g/t Au.
Bravo president, Joe Kizis, said the mineralized interval begins at a relatively shallow downhole depth of 64.6 metres and is believed to be related to high-grade mineralization encountered in previously completed nearby holes HR-07-30 (5.93 metres averaging 10.79 g/t Au within 66.75 metres averaging 2.4 g/t Au) and HR-07-50 (4.96 metres averaging 14.3 g/t Au within a 45.3 metre interval averaging 2.6 g/t Au). All intervals are true thicknesses.
The upper portion of the intercept contains grades that are similar to the “blanket” style mineralization that is widespread in the Main Homestake deposit. The lower zone of bonanza-grade mineralization is less well geologically understood and may reflect proximity to a “feeder” structure. Visual examination of the mineralized interval does not reveal a particular structure, but the entire zone is strongly silicified.
Said Kizis, "Although we don’t yet fully understand the geometry of the extremely high-grade mineralization, we believe it is related to zones of mineral-fluid upwelling or ‘feeder’ zones. Hole 87 validates that the Main Homestake zone is an important new gold discovery with an enviable shallow zone of “blanket” mineralization with a fairly consistent grade, as well as important zones of very high-grade mineralization. The full impact of hole 87 is still being evaluated, but its shallow location should significantly boost project economics.”
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. 
Analyzed by FA-ES / ICP by Acme Analytical Labs, Vancouver BC; Samples >34g/t Au re-assayed with FA-Grav – check assays are pending
Bravo has now completed, in the 2008 exploration program, 36 core holes totaling more than 7,400 metres of drilling at Homestake Ridge. Bravo anticipates completing the remaining planned holes at the Main Homestake zone by the end of October. To date, 29 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. 
A long section showing the location of completed drill holes on the Homestake Main zone is shown above.
Private Placement Update
Bravo also announced today that is has closed the first tranche of a previously announced private placement (August 14/08) of 2.4 million units at a price of $0.25 per unit. The company said it has issued 700,000 units for gross proceeds of $175,000 and states it will not proceed with the balance of the proposed financing.
Each unit is comprised of one common share and one share purchase warrant exercisable to purchase one additional common share at an exercise price of C$0.30 per share for a period of eighteen months from the closing date. All the common shares issued pursuant to this offering carry a legend restricting the shares from trading for a period of four months until January 13th, 2009.
|
| Wertung | Antworten | Thema | Verfasser | letzter Verfasser | letzter Beitrag | |
| 4 | 25 | Es kommt Bewegung auf. | Figur44 | Figur44 | 25.04.21 13:25 | |
| 71 | Bravo Gold - Long-Holders Thread | PSchwammerl | wahrsager123 | 14.01.14 11:12 | ||
| 52 | 3.412 | Bravo Venture kaufen | Cincinnati | Ghost013a | 08.02.12 08:01 | |
| 7 | canada hatte die news am freitag schon | TrendBox | Golden_Years | 17.05.10 13:45 | ||
| 2 | 6 | Analystin | minesfan | 09.06.08 12:57 |