Bravo Samples 2.2m of 530g/t Ag, 5.5% Pb and 4.2% Zn in Channel Samples at Kinskuch
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/19/11 -- Bravo Gold Corp. (TSX VENTURE: BVG)(FRANKFURT: B6I) ('Bravo') reported today results from surface channel samples taken from the Kinskuch property, a 59,600 hectare claim package located adjacent to and south of Bravo's Homestake Ridge project in northwestern British Columbia.
Highlights of the sampling include:
-- a 2.2 metre interval averaging 530g/t silver, 5.5% lead and 4.2% zinc
(807g/t AgEq), including 0.55 metres of 1503g/t silver, 16.9% lead and
8.8% zinc (2235g/t AgEq) from trench KNTR-015;
-- a 1.1 metre interval averaging 285g/t silver, 4.3% lead and 3.1% zinc
(512g/t AgEq) from trench KNTR-018; and
-- a 1.9 metres averaging 373g/t silver, 7.8% lead and 5.2% zinc (743g/t
AgEq), including a 0.6 metre interval averaging 898g/t silver, 16.0%
lead and 10.4% zinc (1648g/t AgEq) from trench KNTR-004.
The saw-cut channel samples were collected from surface exposures and hand-dug trenches covering a 2.5 kilometre strike-length of the Illiance River trend. The sampling focused on a strongly altered, north-south-trending zone of silver and base-metal occurrences hosted by the same volcanic stratigraphy that is an important host at the Homestake Ridge project. The trend extends for over five kilometres on the eastern side of the Kinskuch property and is open to the north and south.
The channel sampling is consistent with high-grade values from historic sampling throughout the trend and surface chip sampling by Bravo earlier this year (see the table and summary below). The sampling was limited to surface outcrops and historic trenches and likely does not reflect the full width of any given mineral occurrence.
This phase of surface exploration confirms the presence of a strongly precious-metal enriched mineralizing system over a 2.5 kilometre strike-length within the same stratigraphic section as the Homestake Ridge deposits and which has been only minimally explored. Analyses from four core holes, totaling 856 metres, drilled toward the end of the 2011 exploration season are expected in January 2012. Only three of the six known mineral occurrences were drill tested with shallow holes, leaving a significant strike-length of the trend remaining for future exploration. Numerous other targets remain to be investigated throughout the Kinskuch project and will be the subject of an aggressive exploration program in 2012.
For more information on this and Bravo's other projects please visit www.bravogoldcorp.com.
Table 1: Composited saw-cut channel samples from the Illiance River
Trend, Kinskuch property
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Length Ag Au Cu Pb Zn AgEq
Channel No. (m) (g/t) (g/t) (%) (%) (%) (g/t)
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KNTR-001 0.3 46 0.0 0.9 0.1 0.8 159
KNTR-002 0.3 39 0.1 1.3 0.1 0.5 177
KNTR-003 0.7 443 0.5 0.2 8.4 10.6 997
KNTR-004 1.9 373 0.1 0.2 7.8 5.2 743
inc. 0.6 898 0.1 0.4 16.0 10.4 1648
KNTR-005 0.7 173 0.0 0.1 0.9 2.2 264
KNTR-006 0.5 691 0.1 0.1 11.8 6.3 1194
KNTR-007 0.6 173 0.0 0.1 3.2 4.1 379
KNTR-008 1.1 91 0.2 0.1 1.9 0.7 179
KNTR-009 0.8 128 0.1 0.4 0.4 0.3 189
KNTR-010 0.5 364 0.1 1.2 0.7 0.9 529
KNTR-011 1.3 348 0.1 0.2 0.9 0.8 419
KNTR-012 1.7 254 0.1 0.1 2.5 1.3 368
KNTR-013 1.6 10 0.0 0.0 0.1 0.1 17
KNTR-014 1.1 10 0.0 0.0 0.0 0.0 13
KNTR-015 2.2 530 0.1 0.1 5.5 4.2 807
inc. 0.6 1503 0.2 0.3 16.9 8.8 2235
KNTR-016 0.9 478 0.1 0.1 2.9 3.0 652
KNTR-017 0.9 4 0.0 0.0 0.1 0.3 16
KNTR-018 1.1 285 0.2 0.2 4.3 3.1 512
KNTR-019A 1.9 77 0.1 0.1 2.1 13.1 494
KNTR-019B 0.8 13 0.0 0.0 0.4 0.4 37
KNTR-020 1.8 56 0.1 0.0 0.3 1.6 113
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Analyzed by FA-ES/AA for gold and ICP-MS by Acme Labs, Vancouver BC; Silver
overlimits (greater than 100g/t Ag) re-assayed with FA-Grav. AgEq - is
calculated using the approximate three year trailing average for the
precious and base metals. Ag-$23, Au-$1205,-Cu-$3.15, Pb-$0.9 and Zn-$0.9.
The AgEq calculation does not account for relative metal recoveries.
About Kinskuch
The Kinskuch project is a strategic acquisition which incorporates much of the access road to Homestake Ridge gold and silver deposits together with several highly prospective areas which will be the target of further exploration in 2012 with the intent of adding to Bravo's existing mineral resources and maximizing the engineering and design efficiencies of the Homestake Ridge project.
Exploration on the property during the 2011 field season included a 3600 line-kilometre DIGHEM airborne survey over approximately 60% of the project area, aggressive surface exploration of the main mineralized trends throughout the property, and 856 metres of diamond drilling in four drill holes targeting the Illiance River Trend, which includes multiple mineral occurrences that occur along a five kilometre belt of altered and mineralized volcanic stratigraphy.
To view Figure 1, visit the following link: http://media3.marketwire.com/docs/bvgFigure1.jpg
The 2011 field exploration program was successful in confirming high-grade values through the trend. Assays have now been received from 103 rock samples taken from along the whole trend. These samples averaged 317g/t Ag, 0.53% Cu, 2.12% Pb and 2.68% Zn. Highlights from this sampling program include a 1 metre true width sample containing 5227g/t Ag, 4.67% Pb and 8.44% Zn from a trench at the Silver Bar North occurrence in the northern part of the trend and a 0.5m sample containing 383g/t Ag, 7.76% Pb and 26.67% Zn in the United Metals zone at the southern end of the trend.
About Bravo
Bravo Gold Corp has a 100 percent interest in the Homestake Ridge project, which is located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant Indicated Resource, at a 3.0g/t AuEq cut-off, of 191,000 oz gold and 1,350,000 oz silver (215,500 oz AuEq) plus an Inferred Resource of 530,000 oz gold and 13,470,000 oz silver (775,900 oz AuEq)(1). Two deposits have been identified to date and multiple exploration targets remain to be tested on the large 2585 hectare property. Bravo holds an option to acquire the 596-square-kilometre Kinskuch project located adjacent to, and to the southeast of, Bravo's Homestake Ridge project. Bravo holds a 9.76 percent interest in Bravada Gold Corporation (TSX VENTURE: BVA), which is exploring 21 projects in Nevada.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp.
(1) The current estimate was prepared by Roscoe Postle Associates Inc. (RPA). Mineral Resources on the Main Homestake deposit were estimated previously in 2010 using a block model constrained by 3D wireframes of the mineralized zones. Mineral Resources on the Homestake Silver deposit were estimated in 2011 using a block model constrained by pierce points projected to 2D surfaces. The Main Homestake block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, and Cu interpolated using ID3 weighting. The Homestake Silver block model comprised an array of blocks measuring 10 m x 10 m. At a 3.0g/t AuEq. cut-off, the models identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and a cumulative inferred resource of 4,060,000 tonnes averaging 4.3g/t Au, 158g/t Ag.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravo Gold Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
We seek safe harbor.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bravo Gold Corp.
Liana Shahinian
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.bravogoldcorp.com
