Apr 25 2013
Bravada Gold Corporation ("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 ("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.