Homestake Ridge - British Columbia
In 2011, Homestake Resource reported an updated mineral resource estimate, (NI43-101 compliant) of 191,000oz gold and 1,350,000oz silver indicated plus 530,000oz gold and 13,470,000oz silver inferred at a 3.0 g/t AuEq. cut-off in two separate deposits.
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Message: Additional High-Grade Silver From the Main Homestake and Homestake Silver Zones
| January 21, 2009 | |
| Bravo Reports Additional High-Grade Silver From the Main Homestake and Homestake Silver Zones | |
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2009) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today new bonanza-grade silver assays from two drill holes on its 100 percent owned Homestake Ridge project in NW British Columbia. One hole, which is located along the southeastern margin of the Main Homestake deposit, extends high-grade silver mineralization laterally to the southeast and toward the second drill hole, located an additional 600 metres to the southeast at the Homestake Silver zone. The bonanza-grade intercept from the Main Homestake deposit includes a 2.2 metre interval (estimated true thickness) averaging 3.9g/t Au and 2,118g/t Ag within a broader 15 metre interval grading 1.24g/t Au and 399g/t Ag from drill hole HR08-111. The mineralization in hole HR08-111 laterally offsets mineralization in holes HR08-114 (1.9m of 1.6g/t Au and 322.4g/t Ag) and HR06-28 (2.5m of 16.7g/t Au and 27.1g/t Ag), and continues to demonstrate both continuity within the hangingwall silver horizon of the Main Homestake deposit and the high-grade precious-metal potential along strike to the southeast of the deposit. The hangingwall silver horizon overlies the majority of the gold-rich mineralization at the Homestake deposit. The company also reported a bonanza-grade silver intercept from the Homestake Silver zone, where drill hole HR08-98 returned a 1.2 metre interval averaging 2.0g/t Au and 1,672g/t Ag within a strongly anomalous 51.6 metre thick interval averaging 0.2g/t Au and 72g/t Ag. Drill holes HR08-98 (Homestake Silver zone) and HR08-111 (Main Homestake zone) are 600 metres apart and are separated by an area largely untested by drilling. However, a strong southeast-trending silver-in-soil anomaly (values 8ppm to 30ppm Ag) from 2004 surface sampling and a coincident ground magnetic geophysical anomaly outline a mineralized trend which links the southeast extension of the Main Homestake deposit and the northwest margin of the Homestake Silver zone. High-grade silver mineralization occurs at roughly the same stratigraphic interval in both of these holes and demonstrates the potential for not only a significant lateral extension of the hangingwall silver zone towards the southeast, but also the potential for additional gold-enriched targets underlying the silver mineralization in the lower parts of the stratigraphy. Total cumulative strike-length of the combined Main Homestake and Homestake Silver zones now exceeds 1,400 metres. Bravo also reported that final assays have been received for drill hole HR08-83, from within the Main Homestake zone, and from four drill holes at the Vanguard Gold and Vanguard Copper zones. Drill hole HR08-83 intersected a broad interval of strongly siliceous alteration, which averaged 1.1g/t Au and 1.8g/t Ag over 20.8 metres (estimated true thickness). The style and grade of mineralization are consistent with those of adjacent drill holes and highlights the bulk tonnage potential of the upper part of the deposit. Assays from Vanguard Gold include a 3.6 metre interval averaging 1.3g/t Au and 1g/t Ag in hole HR08-107. Drilling this year was located to the east of the 2007 drilling and appears to have missed the mineralized zone due to structural complexities still being evaluated. Drilling at the Vanguard Copper zone intersected pyritic sulphides within a laminated argillite-tuff unit in the top portions of both drill holes, which may represent peripheral mineralization. Continued work within both the Vanguard Gold and Vanguard Copper zones are required to fully evaluate their potential. Bravo reports that all assays have been received from the Homestake Project. Final compilation, check assays and verification of the database is proceeding in preparation of an updated resource estimate that will incorporate new drilling results from the 2007 and 2008 exploration programs. The company anticipates that the new resource estimate will be ready for release in early March 2009. The firm of Melis Engineering Ltd. have been retained to design and oversee metallurgical studies on mineralized intervals from the Main Homestake deposit. Initial results from this work are expected during the second quarter of 2009. President Joe Kizis commented, "The high-quality work conducted over the past few years by our dedicated staff and consultants at Homestake have allowed us to identify several important geologic controls of mineralization. This resulted in many impressive intercepts during the season, significantly upgrading the quality of the deposit. On-going work at Homestake will focus on three fronts: 1) continuing to evaluate the geology and economics of the existing Main Homestake deposit, 2) extending mineralization adjacent to the deposit by drill-testing projections of the important high-grade mineralized structures; and 3) exploring for new separate lenses of mineralization. Exploration drilling along the largely untested 600m projection of the mineralized horizon between the Main Homestake deposit and the Homestake Silver zone will be a high priority in 2009." Table I: Summaries of new select interval from the Homestake Ridge Project
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Est.
Collar Data True
--------------------- Inte- Thick-
AZ DIP Depth From To rval ness Au Ag
Hole No. Deg Deg (m) m m m m g/t g/t
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HOMESTAKE MAIN
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HR08-83 121.0 -45.0 215.1 107.8 133.3 25.5 20.8 1.1 2
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HR08-111 207.85 -75.0 276.46 63.50 78.65 15.15 15.0 1.2 399
inc. 69.10 71.30 2.20 2.2 3.9 2118
and 114.20 151.85 37.65 37.2 0.9 4
and 252.47 253.47 1.00 1.0 3.2 6
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HR08-112 264.85 -63.0 361.8 NSV NSV NSV NSV NSV NSV
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HOMESTAKE SILVER
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HR08-98 235.85 -45.0 255.17 115.45 124.05 8.60 6.6 0.2 52
inc. 121.10 124.05 2.95 2.3 0.2 124
and 151.60 218.60 67.00 51.6 0.2 72
inc. 156.10 160.60 4.50 3.5 1.0 587
inc. 157.60 159.10 1.50 1.2 2.0 1672
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VANGUARD COPPER
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HR08-113 255.85 -46.0 143.55 NSV NSV NSV
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HR08-115 175.85 -47.0 114.9 NSV NSV NSV
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VANGUARD GOLD
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HR08-107 179.85 -47.0 211.45 12.85 17.35 4.50 3.6 1.3 1
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HR08-110 140.85 -45.0 169.8 NSV NSV NSV
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Analyzed by FA-ES / ICP by Acme Analytical Labs, Vancouver BC; Samples
greater than 34g/t Au re-assayed with FA-Grav - check assays are pending;
Silver overlimits (greater than 100g/t Ag) re-assayed with FA-Grav.
The property consists of Mineral Title claims and Crown Grant claims in which a 100% interest was earned by Bravo from Teck Cominco and a private Optionor, respectively. There is a 2% NSR royalty in favour of Teck Cominco and on other portions of the located mineral claims there is a 2% NSR royalty in favour of the original Optionor. Bravo has the right to purchase 1% of the Teck Cominco royalty for $1 million and 1% of the original Optionor's royalty for $1 million. The Crown Granted mineral claims also are subject to a 2% NSR royalty. In March 2007 Bravo announced an Inferred Resource estimate at the Main Homestake zone of 903,231 ounces of gold and 5,745,746 ounces of silver contained within 11.9 million tonnes with an average grade of 2.36 g/t Au and 15.0 g/t Ag using a cut-off grade of 0.5 g/t gold (see NR-04-07)(1). The deposit remains open down dip and along strike to the southeast and northwest. A long section showing the location of completed drill holes on the Homestake Main zone has been posted on the company's website www.bravoventuregroup.com. About Bravo Venture Group Inc. Bravo Venture Group Inc. is focused on exploring precious and base metal-rich projects within North America, currently with properties in Nevada, Alaska, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. The Woewodski Island project in southeast Alaska hosts both precious and base metal-rich massive sulphides and gold-rich orogenic quartz veins. The Homestake Ridge project is a gold-rich epithermal/VMS-related vein system within Eskay Creek/Silbak-Premier stratigraphy. Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release. On behalf of the Board of Directors Joseph A. Kizis Jr., Director, President, Bravo Venture Group Inc. For further information, please visit the company's website at www.bravoventuregroup.com. (1) An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Due to the uncertainty which may attach to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred Mineral Resources must be excluded from estimates forming the basis of feasibility or other economic studies (43-101CP, CIM, 2001). |
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