Work Programs Begin at Bravada's Highland and East Manhattan Projects in Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/24/13 -- Bravada Gold Corporation (TSX VENTURE: BVA)(FRANKFURT: BRT) ("Bravada") announced today that field work has begun at both the Highland and East Manhattan gold/silver properties, located in western and central Nevada, respectively. The work is being funded by Canterra Minerals Corporation (TSX VENTURE: CTM) ("Canterra") pursuant to an option agreement whereby Canterra may earn up to a 70 percent interest in each project (see news release NR-04-13 dated March 4, 2013). Bravada is the operator for both projects.
At Highland, a soil-sampling survey and a gravity geophysical survey have been completed, which will assist in further refining targets previously identified by extensive IP and magnetics geophysical data beneath a thin layer of gravel. Additional claims have been staked at the property and an initial drill permit application has been approved by the Bureau of Land Management for a Phase I reverse-circulation drilling program tentatively scheduled for this summer.
At East Manhattan, a detailed magnetics geophysical survey has been completed in order to further refine drill targets and to identify new targets. A previously submitted drill permit application is expected to be approved by the US Forest Service in June, with a Phase I reverse-circulation drilling tentatively scheduled to begin after receipt of the permit.
About Highland: The Highland low-sulfidation-type project consists of 99 Federal lode claims for a total of approximately 800 hectares and is located in the Walker Lane Gold trend. Previous drilling by Bravada's US subsidiary intersected vein zones with locally high-grade intercepts; the Company's best hole, H02013, intersected 1.5 meters (m) of 66.9 grams of gold per ton (g/t) and 397.7g/t silver within a 12.2m intercept of 9.5g/t gold and 109.4g/t silver, with true thicknesses estimated at 65% of the intervals. A complete table of assays for Bravada's drilling programs can be found on the Company's website. A thin layer of alluvial gravel covers much of the property and various geophysical methods have been employed to identify other targets, which to date have not been tested with drilling. Detailed ground magnetics, four lines of IP, and one line of AMT have been conducted at Highland.
About East Manhattan: The East Manhattan low-sulfidation-type project consists of 84 Federal lode claims for a total of approximately 680 hectares and is located at the eastern edge of the Manhattan Mining district, approximately 19km southeast of the giant low-sulfidation Round Mountain Gold mine complex. Bravada's US subsidiary conducted two drilling campaigns at the project, primarily along two of several mapped zones of auriferous veins. Shallow gold mineralization has been intersected along the primary vein zone for 425m of strike length. The Company's best drill hole, EM08-010, intersected an estimated true thickness of 11.25m of 2.868g/t Au at 91.4m depth followed by 11.25m of 0.805g/t Au at 118.9m depth. A complete table of assays for Bravada's drilling programs can be found on the Company's website. The vein zone projects along strike for another approximately 870m to the east under thin gravel cover.
About Bravada Gold Corporation
Bravada is a member of the Manex Resource Group of companies with an exploration office in Reno, from which it is exploring its extensive Carlin-type and low-sulfidation-type gold holdings strategically located within numerous productive gold trends in Nevada. Homestake Resource Corporation (TSX VENTURE: HSR) owns 10.19% of Bravada's 114,834,282 outstanding common shares.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513, Wyoming PG-2576) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's websites at bravadagold.com.
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. Bravada Gold Corporation 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bravada Gold Corporation
Liana Shahinian
604.641.2773 or toll free at 1.888.456.1112
liana@mnxltd.com
www.bravadagold.com
