Thursday, October 28, 2010

Gold in Canada: Bravo Gold drills 9.6 m of 5.9 g/t Au at Homestake bvg.c, bva.v, tnr.v,,,, ktn.v, gbn.v,, mgn, asm.v, sgc.v,, btt.v,, nem, fcx, bvn, auy, abx,

  So far our interaction with Bravo Gold was a total disaster, even spin out of Bravada Gold did not make this stock fly like others with higher gold prices. We have a very small position and are wondering now whether it is time to accumulate this ugly duckling in total distress? The company just recently raised more than 3 mil in flow through financing at 0.2CAD and the property is under drill now with first results coming out. Everything with discount of 15%-20% to the flow through pricing will be interesting - means that in the range of 0.17CAD - 0.16CAD this story could be entertaining again.

GoldLetter International - take this one with a grain of salt with target price of 0.4CAD, but it gives you a good overview of the company.

Bravo Gold Corp. is a well-financed Canadian based exploration company committed to increasing shareholder value with an experienced management team that has successfully demonstrated the ability to identify, explore and develop gold/silver properties within North America.

The company’s major asset, encompassing 2, 5851 hectares, is the 100% owned Homestake Ridge project in B.C., a gold-rich epithermal/VMS-related vein system hosted within Eskay Creek equivalent stratigraphy that is rapidly advancing with excellent drill results. Since initial acquisition in 2003, Bravo has moved the project from grass-roots discovery to delineation of the high-grade mineral resources to further discovery of what may evolve into a substantial gold district in north-western British Columbia.

Bravo also has a 100% option on the Silver basin Project which is located 14km southeast of the Homestake Ridge Project. The Silver Basin project consists of a single amalgamated claim of 760 hectares, Hazelton volcanic and sedimentary rocks underlie the project, which is the same package of rocks that host the bonanza-grade Eskay Creek mine farther north.
The company’s holdings, strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada have been spun-out to Bravada Gold Corp. in which Bravo holds 34 percent shareholding interest.

The Homestake Ridge project is being advanced as a potential high-grade underground mining operation. Since 2003, Bravo has completed over 40,800 meters in exploration and delineation drilling and in 2010 reported a NI43-101 compliant mineral resource estimate for the project of 191,000 ozs gold and 1,350,000 ozs silver plus an inferred resource of 348,000 ozs gold and 7,990,0000 ozs silver at a 3.0 g/t AuEq. cut-off in two separate deposits (1). Multiple exploration targets identified through surface exploration and a recently acquired +630 line kilometre airborne geophysical survey remain to be tested on the property and highlight the “district-scale” potential of the project.

Bravo continues to move the Homestake Project through preparatory stages to facilitate the ultimate development of the project. The company has assembled a group of exploration and mining professionals to advise and advance non-exploration related aspects of the program including data acquisition and QAQC protocols, resource modelling and preliminary engineering, economic assessment, ore metallurgy, road access and permitting.
The project is located on Nisga’a Lisims Treaty Land. Bravo has and continues to develop an integration policy that engages and incorporates local people and economic interests into the exploration and development programs.

Bravo Gold Corp. is affiliated with Manex Resource Group, a private company comprised of an exceptional multi-disciplinary team of professionals, with specific expertise in all the areas of exploration, development and public company administration.

2010-10-28 16:02 ET - News Release
Mr. Joseph Kizis Jr. reports
Bravo Gold Corp. has extended mineralization above a three-gram-per-tonne-gold-equivalent cut-off in multiple horizons at the Homestake silver deposit on its 100-per-cent-owned Homestake Ridge project located in northwest British Columbia.
The company provided results on a further 10 drill holes from the 2010 exploration program, including HR10-198, which returned a 0.6-metre interval averaging 56.3 grams per tonne (g/t) gold and 48.3 g/t silver within a broader 9.6-metre interval averaging 5.9 g/t gold and six g/t silver. Drill hole HR10-198, together with holes HR10-197 and HR10-192, define coherent gold-enriched mineralized horizons in the upper volcanic stratigraphy that extend the Homestake silver deposit an additional 200 metres along strike and to the northwest of the 2009 drill-defined limits. Assays are pending for 14 holes that offset this mineralization, which could further expand the potential resources of this deposit.
Drilling in the Fox Reef and Vanguard copper zones returned thick intervals (greater than 100 metres) of strongly anomalous gold (greater than 0.1 part per million), copper and pathfinder elements such as Mo and Bi, which may indicate proximity to large intrusion-related mineral systems, which remain viable targets for future exploration on the property.
Bravo has now completed the 2010 drilling program at the Homestake Ridge project, and crews are in the process of demobilization. A total of 48 core holes have been drilled on the property for approximately 17,924 metres during this year's program. Assays from 20 of these drill holes are pending. Twenty-six drill holes totalling 11,972 metres tested the Homestake silver deposit while 22 drill holes totalling 5,952 metres were completed in six other targets on the property.
An updated long section of the 2010 drill plan and a full compilation of the 2010 assay summaries are available on
Bravo's website."

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