Beginning on April 16, the company will trade on a post-consolidation basis under its new name and trading symbol "HSR".

Approval was given for the consolidation of the issued common shares of the company on a basis of one post-consolidation common share for every 10 pre-consolidation common shares.

"Our new corporate name and ticker symbol will emphasize the company’s major asset, the Homestake Ridge property, and better reflect the growing importance of silver, copper, lead, and zinc in addition to gold being discovered at the company’s Homestake and Kinskuch properties,” said Bravo president Joe Kizis.

"And with these corporate changes, we look forward to continuing to expand the resource base at our Homestake Ridge and Kinskuch properties to become the next major gold-silver district in British Columbia."

The company said it believes it will benefit from greater investor interest as a result of the share consolidation, as well as improved trading liquidity, and an ability to raise additional capital at a higher price per share.

Bravo said that the change in the number of issued and outstanding shares that will result from the move will “cause no change in the capital attributable to the common shares and will not materially affect any shareholder's percentage ownership in the company.”

Ownership, however, will be represented by a smaller number of shares.

As of today, the company has a total of around 215.4 million shares issued and outstanding, and after the consolidation of shares is completed, it is expected to have around 21.5 million issued and outstanding.

Bravo said it plans an aggressive 2012 exploration and development program on the Homestake Ridge and Kinskuch properties, located in northwestern British Columbia, which will concentrate on the drill delineation of the newly discovered South Reef deposit at Homestake Ridge.

The program will also see extensive drilling of a potential mineral deposit at Kinskuch, discovered in the 2011 exploration season.

In addition, the program will include exploration drilling, ground geophysics and further evaluation of several other encouraging exploration targets, said the company.

A defined resource at South Reef and possibly at Kinskuch, together with any new discoveries, will add to the NI 43-101 compliant resources at the two deposits already discovered and delineated by Bravo at the Homestake Ridge property.

Mineralization at South Reef is open at depth and along the full strike-length of the target horizon, which is equal to the cumulative strike-length of the previously delineated main Homestake and Homestake Silver deposits, the company said.

Combined, the Main Homestake and Homestake Silver deposits contain a current NI 43-101 compliant indicated resource, at a 3.0 g/t gold equivalent cut-off, of 191,000 ounces of gold and 1.35 million ounces silver, plus an inferred resource of 530,000 ounces gold and 13.4 million ounces silver.

Meanwhile, exploration on the Kinskuch project this year will focus on offset drilling of the silver-rich, polymetallic VMS-style mineralization intersected by Bravo in 2011 at the Illiance River trend located in the eastern part of the property.

Approval was given for the consolidation of the issued common shares of the company on a basis of one post-consolidation common share for every 10 pre-consolidation common shares.

The company said it believes it will benefit from greater investor interest as a result of the share consolidation, as well as improved trading liquidity, and an ability to raise additional capital at a higher price per share.

The change in the number of issued and outstanding shares that will result from the move will "cause no change in the capital attributable to the common shares and will not materially affect any shareholder's percentage ownership in the company", Bravo Gold said.

Ownership, however, will be represented by a smaller number of shares.

As of today, the company has a total of around 215.4 million shares issued and outstanding, and after the consolidation of shares is completed, it is expected to have around 21.5 million issued and outstanding.

The completion of the share consolidation is subject to the approval of the TSX Venture Exchange.

Separately, Ken Thorsen has retired from the company's board at the annual general meeting, and Fred Sveinson has been elected as a new director.

The company also gave a 2012 exploration update for its Homestake Ridge and Kinskuch properties located in northwestern British Columbia. The program will focus on the drill delineation of the newly discovered South Reef deposit at Homestake Ridge and follow-up drilling of a potential mineral deposit at Kinskuch.

The campaign is expected to include additional exploration drilling, ground geophysics and further evaluation of several other "encouraging" exploration targets, Bravo Gold added.

A defined resource at South Reef and possibly at Kinskuch, plus any new discoveries will be accretive to the NI 43-101 compliant resources at the two deposits already delineated by Bravo at the Homestake Ridge property.

The planned holes at Homestake Ridge this year will offset three holes from the 2011 program that tested a 75 metre strike-length of the mineralized trend to depths of 260 metres and intersected  more than 30 g/t gold in each hole, including a 3.1 metre interval averaging 30.8g/t gold and 3.3g/t silver.

Mineralization at South Reef is open at depth and along the full strike-length of the target horizon, which is equal to the cumulative strike-length of the previously delineated Main Homestake and Homestake Silver deposits, the company said.

Combined, the Main Homestake and Homestake Silver deposits contain a current NI 43-101 compliant indicated resource, at a 3.0 g/t gold equivalent cut-off, of 191,000 ounces of gold and 1,350,000 ounces silver plus an inferred resource of 530,000 ounces gold and 13,470,000 ounces silver.

Meanwhile, exploration on the Kinskuch project this year will focus on offset drilling of the silver-rich, polymetallic VMS-style mineralization intersected by Bravo in 2011 at the Illiance River trend located in the eastern part of the property.

The Illiance River trend is a five kilometre strike length of strongly altered volcanic stratigraphy.  Initial drilling will target a 700 metre strike length of this trend where 2011 drilling returned a 2.8 metre interval averaging 318g/t silver, 0.4g/t gold, 2.2% lead and 6.5% zinc from drill hole KN11-02.

The survey, which used Fugro's DighemV-DSP electromagnetic system, totaled 3,821 line-kilometres flown at a nominal 100 metre spacing, which included 364 line-kilometres of tie lines at 1,000 metre spacing, and was completed from August 1st to September 14th, 2011.

The survey coverd about 60 percent of the total project area, was completed from the company's base of operations at Alice Arm at the southern margin of the survey block.

The goals of the survey were met, the company said, with the data allowing for the mapping and delineation of controlling gold structures, as well as the identification of areas with anomalous conductivity, which suggest the presence of sulphide mineralization.

Bravo said several zones of anomalous conductivity have been identified within key target areas throughout the project.

The Illiance River trend, which was a target of the company's 2011 exploration efforts, showed up in the survey as both a broad magnetic low and an electro-magnetic high (conductive zone suggesting the presence of sulphides) extending over a five kilometre strike length of strongly altered volcanic stratigraphy - an important host at the nearby Homestake Ridge project.

The target in this area is high-grade silver-enriched polymetallic mineralization within a series of sub-vertical structures occurring along the altered trend. Only a 2.5 kilometre strike length of this geophysical trend was mapped and sampled by Bravo during 2011, it said.

Bravo also completed four drill holes within the Illiance River trend in 2011, three of which returned what it called "encouraging" assay results including a 2.8 metre interval averaging 318 grams per tonne (g/t) silver, 0.4g/t gold, 2.2% lead and 6.5% zinc from drill hole KN11-02; and a 3.9 metre interval averaging 268 g/t silver, 0.2g/t gold, 3.4% lead and 6.5% zinc from drill hole KN11-03.

The holes were drilled from two set-ups, 500 metres apart. Mineralization remains open at depth and to the north and south, Bravo added.

The company also said that a program of geological prospecting, sampling and ground geophysics is being recommended to further delineate the conductive zones and to identify disseminated sulphides, which could indicate anomalous silver and gold mineralization.

Follow-up exploration will be carried out within an expanded 2012 exploration program on the project, which is planned to include an "aggressive surface exploration program" and up to 10,000 metres of diamond drilling on the Illiance River trend, as well as other targets throughout the property.

In other news Tuesday, Bravo said it has closed the final tranche of a previously-reported, non-brokered private placement financing, by issuing 1.065 million units at a price of 7 cents each for gross proceeds of $74,550,00.

Together with the first tranche closing on December 30, 2011 and the second tranche closing on January 4, 2012, Bravo has raised a total of $884,119.95.

The company has a 100 percent interest in the Homestake Ridge project, which has a current NI43-101 compliant indicated resource, at a 3.0 g/t gold equivalent cut-off, of 191,000 ounces gold and 1,350,000 ounces silver plus an inferred resource of 530,000 ounces gold and 13,470,000 silver ounces.

Two deposits have been delineated to date, with a third, South Reef, discovered late in 2011.

Bravo also has an option to acquire the 596-square-kilometre Kinskuch project located adjacent to, and to the southeast of its Homestake Ridge project.

Highlights from the latest drilling include a 2.8 metre interval averaging 318 grams per tonne (g/t) of silver, 0.4 g/t gold, 2.2% lead, and 6.5% zinc, which includes a 0.7 metre interval grading 735 g/t silver, 0.82 g/t gold, 3.5% lead, and 11.3% zinc from drill hole KN11-002.

Junior miner Focus Metals (CVE:FMS) has appointed professional geoscientist Marc-André Bernier to its board of directors effective immediately, the company said Thursday.

Selwyn Resources (CVE:SWN) said Thursday it has commissioned a helicopter-borne electromagnetic (VTEM) geophysical survey to test its large mineral claim holdings in Nova Scotia.

The survey will cover key areas known to contain historic mine production of both zinc and lead, as well as gold, silver, copper and barite, the company said.

Latin American Minerals (CVE:LAT)(OTCQX:LATNF) Thursday said it began operations at its Pilot Plant facility, located at the Paso Yobai gold project in Paraguay.

Following two weeks of trial operation in January, the company suspended an inauguration ceremony to avoid potentially violent confrontations with demonstrating illegal miners.

Curis Resources (CVE:CUV) has announced the promotions and appointments of Don Johnson, Stephen Hodgson and Megan Fuller for its flagship Florence Copper project in Arizona, the company said Thursday.

Sunridge Gold Corp. (CVE:SGC)(OTCQX:SGCNF) said Thursday that it has started an exploration drilling program on several prospective targets at its Asmara project in Eritrea, sending shares up over nine percent.

One reverse circulation drill has started on gold exploration targets located on the Medrizien license, the company said, with one diamond drill expected to start drilling on the Adi Rassi target in the southern part of the Debarwa license within three weeks.

Western Canadian junior oil and gas company Aroway Energy (CVE:ARW) said Thursday that it has started field work on a 55 square kilometre 3D seismic program, together with its  joint venture partner, a privately-held Calgary-based business.

The 3D data acquisition will shoot over a portion of Aroway lands recently acquired at crown land sales, and lands acquired through acquisitions, the company said.

The Illiance River trend is the first of several high-priority areas to be drill-tested by Bravo on the large 59,600 hectare property located adjacent to its Homestake Ridge project.

Highlights from the latest drilling include a 2.8 metre interval averaging 318 grams per tonne (g/t) of silver, 0.4 g/t gold, 2.2% lead, and 6.5% zinc, which includes a 0.7 metre interval grading 735 g/t silver, 0.82 g/t gold, 3.5% lead, and 11.3% zinc from drill hole KN11-002.

Hole KN11-003 returned a 3.9 metre interval averaging 268 g/t silver, 0.2 g/t gold, 1.3% lead, and 6.5% zinc, which includes a 0.9 metre interval grading 584 g/t silver, 0.3 g/t gold, 3.4% lead, and 17.7% zinc from drill hole KN11-003.

In addition, the company hit a 9.7 metre interval averaging 77 g/t silver, 0.1% copper, 1.4% lead and 3.9% zinc, which includes a 1.6 metre interval averaging 338 g/t silver, 0.2 g/t gold, 0.6% copper, 5.0% lead, and 15.9% zinc from drill hole KN11-004.

The company drilled four holes on the Illiance River trend after mapping and sampling early in last year's exploration season provided encouragement, it said.

Silver and base-metal mineralization is exposed in a series of surface outcrops and hand-dug trenches along a 2.5 kilometre, northerly-trending zone of the same stratigraphic host rocks as mineralization at the nearby Homestake Ridge project, the company added.

Mineralization remains open at depth as well as to the south and north.

Bravo said that results from this initial program suggest that a resource can be delineated with further drilling, which is planned for the 2012 season.

Most of the 2.5 kilometre trend has not yet been explored by drilling as only shallow portions of three of the six known mineral occurrences were drill tested during the 2011 program, leaving significant strike length for future exploration.

In addition to the Illiance River trend, several other targets have been identified throughout the Kinskuch project that are yet to be tested, Bravo said.

The goal of the Kinskuch project is to add to Bravo's existing mineral resources and maximize the engineering and design efficiencies of the Homestake Ridge project.

Bravo Gold 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 NI 43-101 compliant indicated resource, at a 3.0 g/t gold equivalent cut-off, of 191,000 ounces gold and 1.35 million ounces silver plus an inferred resource of 530,000 ounces of gold and 13.47 million ounces silver.

Two deposits have been delineated to date, with a third, South Reef, discovered late in 2011.

The company holds an option to acquire the 596-square-kilometre Kinskuch project located adjacent to, and to the southeast of, Homestake.

The South Reef discovery was made last year, and is located 750 metres to the southwest of the two previously discovered deposits on the Homestake Ridge project, which is located in northwestern British Columbia.

Two important zones of mineralization have been identified in drilling at South Reef, a shallow copper-rich sulfide zone and a deeper gold-rich zone.

Three holes have now tested the gold-rich zone, the company said, with all three intersecting over 30 grams per tonne (g/t) of gold mineralization.

A fourth hole only tested the shallow, copper-rich sulfide zone.

Bravo said assays from core hole HR11-235 tested the gold-rich zone deeper than previously reported hole HR11-234, and approximately 70 metres along strike to the northwest of hole HR11-234.

HR11-235 intersected several intervals of gold mineralization including: a 1.5 metre interval averaging 41.3g/t gold and 14.6g/t silver within a 2.5 metre interval averaging 25.2g/t gold and 9.6g/t silver; a 0.8 metre interval of 46.5g/t gold and 12.3g/t silver; and a 3.7 metre interval of copper-enriched massive sulphide mineralization averaging 2.4g/t gold, 13.0g/t silver and 0.7% copper.

The shallow, sulphide-rich zone was also intersected in drill hole HR11-236, a 15 metre down-dip offset from hole HR11-235, and returned a 1.55 metre interval averaging 0.81g/t gold, 51.3g/t silver, 0.8% copper, 2.1% lead and 4.0% zinc.

The company said that similar gold- and copper-enriched massive sulphide mineralization was identified in prior drill hole HR11-234, and on surface two kilometres to the southeast at the Vanguard Copper occurrence.

"These may represent significant hangingwall lenses that could guide future exploration for additional new gold deposits within a 2 kilometre long trend on the Homestake Ridge property that currently has not been tested with drilling," Bravo Gold said in a statement.

Hole HR11-232 is considered the discovery hole at South Reef, with a reported 3.1 metre interval averaging 30.8g/t gold within an 8.7 mrytr interval averaging 11.3g/t gold beginning at 157.6m depth.

To date, the company has received assays from portions of 17 of this season's 23 holes on the Homestake Ridge property. All assays from the South Reef zone have now been received, it added.

Results from five additional holes from the southeast margin of the Homestake Silver deposit are still pending.

Bravo Gold 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 NI 43-101 compliant indicated resource, at a 3.0 g/t gold equivalent cut-off, of 191,000 ounces gold and 1.35 million ounces silver, plus an inferred resource of 530,000 ounces gold and 13.47 million ounces silver.

Two deposits have been identified to date, and multiple exploration targets remain to be tested on the large 2,585 hectare property.

Bravo also holds an option to acquire the 596-square-kilometre Kinskuch project located adjacent to, and to the southeast of, Bravo's Homestake Ridge project.

Monday afternoon, shares of the North America-focused explorer rose 20 percent to $0.06.

Among the highlights of the sampling include a 2.2 metre interval averaging 530 grams per tonne (g/t) silver, 5.5 percent lead and 4.2 percent zinc (807 g/t silver equivalent), including 0.55 metres of 1503 g/t silver, 16.9 percent lead and 8.8 percent zinc (2,235 g/t silver equivalent) from trench KNTR-015.

The company said it also encountered a 1.1 metre interval at trench KNTR-018, averaging 285 g/t silver, 4.3 percent lead and 3.1 percent zinc (512 g/t silver equivalent).

And at trench KNTR-004, the company returned 1.9 metres averaging 373 g/t silver, 7.8 percent lead and 5.2 percent zinc (743 g/t silver equivalent), including a 0.6 metre interval averaging 898 g/t silver, 16.0 percent lead and 10.4 percent zinc (1,648 g/t silver equivalent).

Bravo Gold said 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 company added.

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 from earlier this year, the company said.

Bravo Gold said that this phase of surface exploration confirms the presence of a 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, Bravo Gold said.

The results, which were intended to target and test a variety of prospects on the property, including the Connector Zone between the Main Homestake and Homestake Silver deposits, have extended the southeast margin of the Homestake Silver deposit.

Testing a 100-metre long stretch of the Homestake Silver deposit, hole HR11-228 intersected 14.2 metres grading 338 g/t silver and 1.2 g/t gold, including four metres at 1,024 g/t silver and 3.7 g/t gold.

Similarly, hole HR11-226 returned 3.1 metres grading 262 g/t silver and 0.2 g/t gold, while hole HR11-227 hit 10.3 metres at 118 g/t silver and 0.4 g/t gold.

These results successfully extended the high-grade silver mineralization on the Homestake Silver deposit, Bravo said.

"With its 2011 drill program, Bravo continues to grow the resource potential of the Homestake Ridge project through the expansion of the known mineral deposits on the property and the identification of new target areas that may ultimately add to the existing resource base," commented president Joe Kizis.

"Assay results received to date and results expected from the remaining core that is currently being assayed will provide data for the preparation of an updated resource calculation, which will be incorporated into the ongoing Engineering studies of the overall project."

From the Connector Zone, hole HR11-218 intersected 1.4 metres grading 49 g/t silver and 0.8 g/t gold, while hole HR11-221 hit 5.7 metres at 97 g/t silver, including 1.2 metres at 332 g/t silver and 0.1 g/t gold.

These results, together with hole HR11-223, which intersected 10.2 metres grading 43 g/t silver and 0.1 g/t gold, including 1.5 metres at 153 g/t silver and 0.1 g/t gold, extended the projection of silver mineralization through this zone, which links the Main Homestake and Homestake Silver deposits.

So far, Bravo said it has received assays for 13 of its 23 drill holes completed on the Homestake Ridge property. It is currently awaiting assay results from five holes completed on the southeast margin of the Homestake Silver deposit, four holes completed on the previously untested South Reef Zone, which is located 750 metres southwest of the Homestake Silver deposit, and one hole from a peripheral target.

In other news, Bravo also reported its plans for two non-brokered private placements, which would raise a total of $1.4 million.

The first financing will see the issuance of 14.0 million flow-through units, sold at $0.07 per unit, for total consideration of $980,000.

Each unit will consist of one common share of Bravo stock, and one half of a common share purchase warrant. Each full purchase warrant entitles the holder to purchase one common share of the company at $0.10 each.

Bravo said it intends to use the proceeds from this placement for exploration expenses related to its 2011 - 2012 exploration program at its projects in British Columbia.

The company is also proposing to sell six million units at $0.07 each, for gross proceeds of $420,000. Each unit consists of one common share of Bravo stock, and one half of a common share purchase warrant. Again, each full warrant entitles the holder to purchase one share of Bravo stock for $0.10 each.

These proceeds will be used for the company's working capital needs.

The private placements are still subject to regulatory approvals.

The large, 2,585 hectare Homestake project is being advanced as a potential high-grade underground mining operation, with a current NI 43-101 compliant indicated resource, at a 3.0 grams per tonne (g/t) gold equivalent cut-off, of 191,000 ounces gold and 1.35 million ounces of silver, plus an inferred resource of 530,000 ounces of gold and 13.47 million ounces of silver.

Aside from its BC projects, Bravo also holds an 11.7 percent interest in Bravada Gold Corporation (CVE:BVA), which is exploring 22 projects in Nevada.

On the TSX-Venture Exchange, shares of the company traded flat at $0.065, as of 3:28 pm EDT.

At Homestake, a total of 23 core holes were drilled on the property during this year's program, for a total of 7,364 metres. Surface IP geophysics totaling approximately 15 line-kilometres was completed over the Main Homestake deposit, the Homestake Silver deposit and several additional target areas on the property, with channel and surface sampling also carried out, the company said.

Bravo said drilling initially focused on two hanging-wall structures to the Homestake Silver deposit, and the connecting area between the Main and Homestake silver targets.

In addition, eight drill holes also tested the southeastern extension of Homestake Silver, where alteration and base metal mineralization were "visually encouraging", the company said, while IP geophysics directed drilling 350 metres to the southeast of the Fox Reef zone, in an area now called the South Reef zone.

Four holes were drilled into the new target, with each containing significant alteration and base metal mineralization in three distinct mineralized intervals, Bravo said. Mineralization has only been tested to a depth of 160 metres, and the geophysical signature can be traced for over 800 metres along the projected strike. Assays from channel sampling and all 23 drill holes are pending.

The large, 2,585 hectare Homestake project is being advanced as a potential high-grade underground mining operation, with a current NI 43-101 compliant indicated resource, at a 3.0 grams per tonne (g/t) gold equivalent cut-off, of 191,000 ounces gold and 1.35 million ounces of silver, plus an inferred resource of 530,000 ounces of gold and 13.47 million ounces of silver.

At the 595 square kilometre Kinskuch, located to the southeast of Homestake Ridge, exploration in 2011 included a 3,820 line-kilometre airborne survey over much of the project area, surface exploration of the main mineralized trends, and 855 metres of diamond drilling in four holes.

Drilling targeted the Illiance River Trend, which includes multiple mineral occurrences along an eight kilometre-long belt, and was designed to confirm historic high grade silver intercepts over a 1.6 kilometre portion of the trend, and more recent chip and grab sampling.

Assays received from 54 rock samples taken by Bravo along the 1.6 kilometre trend averaged 415 grams per tonne (g/t) silver, 0.49% copper, 2.78% lead and 3.18% zinc, confirming historic mineralization.

Highlights from this program include a one metre true width sample containing 5227 g/t silver, 4.67% lead and 8.44% zinc from a trench at the Silver Bar North occurrence, located in the northern part of the trend, the company said. In addition, Bravo also found a 0.5 metre sample containing 383 g/t silver, 7.76% lead and 26.67% zinc in the United Metals zone, at the southern end. Drill hole assays are also still pending due to lab delays.

Aside from its BC projects, Bravo also holds an 11.7 percent interest in Bravada Gold Corporation (CVE:BVA), which is exploring 22 projects in Nevada.

The company is currently advancing the property as a potential high-grade underground mining operation and, since 2003, has spent $30 million on the project, resulting in the discovery and delineation of two significant mineral deposits.

The basis for the engineering work is Bravo's NI 43-101 compliant indicated resource, using a of 191,000 ounces of gold and 1.35 million ounces of silver, at a 3.0 g/t gold equivalent cutoff. In addition, the project also hosts an inferred resource of 530,000 ounces of gold and 13.47 million ounces of silver.

"The company's initial goal is annual production of 100,000 ounces of gold-equivalent per year from a processing plant with a capacity of 2,000 tonnes per day over a 10-year mine life," said Fred Sveninson, who is directing in-house scoping work for the property.

"The engineering studies are being directed to such an annual production and the current drilling program is designed to increase the existing resource in order to attain this goal."

Consulting firm Knight Piesold has also developed preliminary alternatives for providing power to the site, including connecting to the main power grid at two possible locations, developing run-of-river power, and rejuvenating historic hydro power in the area.

The firm is as well determining the best location for plant and tailings facilities and associated costs.

With regards to metallurgical testing, a total of 77  kilograms of individual samples were sent to the lab in June and combined to form a representative composite sample grading 3.43 grams per tonne of gold and 119 g/t silver. Mineralized intersections comprised of quartered core from eight diamond drill holes from the 2010 drill program.

Preliminary testing of the composite sample, using conventional gravity and flotation processes, indicated that an overall gold recovery of 85% to 90% can be consistently obtained, Bravo said, with a silver recovery of 83% to 87%.

In addition, an exploratory IP survey of 15-line kilometres has been completed, with results included into the targeting for the current drill program, particularly encouraging in the area to the southeast of the Homestake Silver deposit, Bravo said.

Eleven core holes totaling 2,765 metres of a planned 5,000 metre program have been completed, with assays pending.
Drilling is currently testing offsets of previously reported holes from the 2010 program, both located along the southeast margin of the Homestake Silver deposit where an IP anomaly has been identified.

The program will continue through the month of September, when drilling efforts will shift to the adjacent Kinskuch project, the company said.

Bravo also holds a 13 percent equity interest in Bravada Gold Corporation, which is exploring 22 projects in Nevada and developing its 100% owned Wind Mountain mine.

Bravo Gold Corp (CVE:BVG) announced Thursday it has begun its 25-hole, 5,000-metres diamond drill program on its wholly owned, 2,535 hectare Homestake Ridge Project, located in northwestern British Columbia.

Drilling, which will follow a surface IP geophysical survey currently being conducted on the property, is intended to focus on the 215 target, a silver-enriched mineralization located 150 metres northeast of the Homestake silver deposit.

The 215 zone was intersected during a 2010 exploration program and was found to contain up to 40 grams per tonne (g/t) silver, as well as other pathfinder elements, like arsenic and antimony.

Additional drilling will focus on the southeastern extension of the Homestake silver deposit, the lateral extensions of the Fox zone, which was first tested in 2010, and the connector area between the main and silver deposits at Homestake Ridge.

To date, one hole has been completed on the Homestake Ridge project, which has indicated resources of 191,000 ounces of gold and 1.35 million ounces of silver, plus 530,000 ounces of gold and 13.5 million ounces of silver in the inferred category.

The Vancouver, B.C.-based company also said a 3,800 kilometre airborne IDGHEM survey is underway at its 59,600 hectare Kinskuch property, adjacent to the south of the Homestake Ridge property in British Columbia.

A 2,000 metre drill program on the Kinskuch project is scheduled to begin in the middle of September 2011.

In other news, Bravo announces the closure of the second tranche of its non-brokered private placement.

The company issued 15.6 million units at $0.13 each, for gross proceeds of $2.03 million.

Each unit consists of one common share of Bravo and one half of one common share purchase warrant. One full warrant is exercisable for one common share, at a price of 20-cents.

The first tranche was closed in early June 2011, which saw Bravo issue 23.1 million units.

Proceeds from the private placement now total $5.03 million, and will fund exploration programs on Bravo's Homestake Ridge, Kinskuch, and Silver Basin properties in British Columbia.

During the offering, 23.1 million flow through units were issued, with each unit consisting of one flow through share and one half share purchase warrant. Each whole warrant entitles the holder to purchase a non-flow through common share at a price of $0.20 each, for a period of two years.

The company said proceeds from the private placement will be used to fund exploration programs on its Homestake Ridge, Kinskuch and Silver Basin properties in British Columbia.

An updated NI 43-101 compliant report by Roscoe Postle Associates indicates the deposit now has a 2.9 million tonne inferred resource of 346,000 ounces of gold at a grade of 3.7 g/t, and 11.6 million ounces of silver, at a grade of 123 g/t. The cut-off grade for the estimate was 3.0 g/t of gold equivalent.

This represents a rough 100% increase over the previous estimate from 2010, which delineated 164,000 ounces of gold and 6.12 million ounces of silver.

For both the Main Homestake and Homestake Silver deposits, the combined indicated resource now stands at 888,000 tonnes of 191,000 ounces of gold at a grade of 6.7 g/t and 1.35 million ounces of silver at a grade of 47 g/t. The inferred resource is 4.06 million tonnes of 530,000 ounces of gold at a grade of 4.1 g/t, and 13.47 million ounces of silver and a grade of 103 g/t.

Permitting and planning for the upcoming field season are now underway, with several targets at Homestake still remaining. The company also plans on testing the newly acquired 596 square kilometre Kinskuch project, which is located adjacent and southeast of Homestake Ridge.

"We are confident that additional deposits will be found on our Homestake Ridge property and on our recently acquired Kinskuch property, located within the same precious-metal rich district," said president Joe Kizis.

Bravo's shares were up more than 53% as of 10:46am EST at $0.115.

Most recently, Sveinson was president and CEO of Merit Mining Corp, a Vancouver-based company with two advanced stage mining projects, including underground operations and a mill at Greenwood, British Columbia.

In 2005, he was president and CEO of Gold City Industries, where he helped in acquiring the Bissett gold mining assets in Manitoba and merging the joint venture partners into San Gold Corp.

Sveninson has also held senior positions at Echo Bay, Tonto Mining and Dynatec Mining.

"I am pleased to add Mr. Sveinson’s expertise to our Homestake Ridge project team as it develops the project towards the potential high-grade underground mine contemplated in Scott Wilson Roscoe Postle’s 2010 report," said Bravo Gold president Joe Kizis.

Homestake has a current NI 43-101 compliant indicated Resource of 191,000 ounces of gold and 1.35 million ounces of silver, plus an inferred resource of 348,000 ounces of gold and 7.99 million ounces of silver.

Two deposits have been indentified to date, with multiple exploration targets remaining on the 2585 hectare property. 

Highlights from the batch of results include 29.6 metres averaging 2.7 g/t gold and 5.6 g/t silver, which includes a 3.6 metres interval averaging 5.3 g/t gold and 25.5 g/t silver in hole HR10-214.

Meanwhile, hole HR10-213 intersected a 33.7 metre interval averaging 1.2 g/t gold and 45.7 g/t silver, which includes a 2.6 metre interval averaging 5.0 g/t gold and 198.3 g/t silver.

The company said these two holes were drilled up and down dip of previously reported mineralization in hole HR10-199 and HR09-165.

The 2010 exploration program significantly expanded the overall footprint of the Homestake Silver deposit, which now measures 620 metres strike and 480 metres down-dip.

Drilling at the Fox Reef zone, located 600 metres to the southwest of the Homestake silver deposit, also continued to return silver-enriched lead-zinc mineralization, including 0.6 metres averaging 0.3 g/t gold, 10 g/t silver, 0.7% lead and 3.6% zinc from hole HR10-202.

Bravo Gold had initially planned to drill 12,000 meters at the project this year, but recently decided to increase the campaign to 15,000 meters.

The company is proposing to place up to 15 million units priced at 20 cents per share. Each unit consists of one flow-through common share and one-half non flow-through share purchase warrant. Each whole share purchase warrant is exercisable to purchase one additional non flow-through common share at a price of 25 cents for a period of two years.

At Homestake Ridge Bravo Gold has already defined a NI43-101 compliant indicated and inferred resource of 539,000 ounces of gold and 9.34 million ounces of silver (using a 3 gram per tonne gold equivalent cut-off)

The junior gold and silver explorer has set out multiple goals for the drill program, which will be completed with two drill rigs.  One drill rig will be focused on testing both lateral and down-dip extensions of the Homestake Silver deposit.  The first hole of the program will be drilled as an offset of hole HR09-165 completed in the previous drill campaign which intersected a very encouraging shallow interval of 14.5 meters grading 4.8 grams per tonne gold and 2.1 grams per tonne silver plus a deeper interval of 24.4 meters averaging an impressive 12.1 grams per tonne gold and 6.8 grams per tonne silver.

The second drill rig will focus on testing a number of exploration targets identified by Brave Gold’s geologist from previous geochemical and geophysical test work.  The rig will first drill three holes approximately 1 kilometre east of the Main Homestake deposit.  Previous surface mapping on the ‘East Valley’ target highlighted anomalous previous and pathfinder minerals.

Homestake Ridge currently hosts a NI43-101 indicated resource of 0.191 million ounces of gold and 1.35 million ounces of silver, plus and inferred resources of 0.348 million ounces of gold and 7.99 million ounces of silver, using a 3 gram per tonne gold equivalent cut-off.

The drill program is expected to cost approximately CDN$6 million.

Scott Wilson Roscoe Postle Associates (“Scott Wilson”) made several recommendations to Bravo Gold, including the postponement of a Preliminary Economic Assessment (“PEA”) on the two deposits until the company had fully delineated the Homestake Silver deposit and tested six additional high priority targets.  The engineering group also suggested that the two deposits are more amenable to an underground mining operation, and that Bravo Gold should pursue the definition of more ounces and upgrading the current resource to achieve this.

The inferred resource at Main Homestake now stands at approximately 1.14 million tonnes grading 5 grams per tonne gold, 51 grams per tonne silver and 0.25% copper, or 184,000 ounces of gold, 1.87 million ounces of silver and 6.3 million pounds of copper.   Meanwhile the indicated resource is now 0.888 million tonnes grading 6.7 grams per tonne gold, 47 grams per tonne silver and 0.15% copper for 191,000 ounces of gold, 1.35 million ounces of silver and just over 3 million pounds of copper.

The Homestake Silver deposit, which contains higher silver content – as the name suggests – now hosts 1.2 million tonnes grading 4.25 grams per tonne gold (164,000 ounces), 158 grams per tonne silver (6.12 million ounces) and 0.02% copper (661,000 pounds of copper).

All of the resource estimates were based on a cut-off of 3 grams per tonne gold equivalent.

"We now have clear guidance from Scott Wilson RPA's work that the best economic path for Homestake will be via underground mining, which requires higher grades than an open pit, but which also requires far less surface disturbance,” President Joe Kizis commented.

“Although the total number of ounces was not what we had hoped for at this stage, we do have a substantial resource at underground-mineable grades that is open for expansion with further drilling. For example, one of our last holes of the 2009 season was also our best hole to date at the Homestake Silver deposit. That hole is HR09-165 and included 24 metres of 12.1 grams gold per tonne. The mineralization is open down dip, up dip, and along strike to the northwest towards the Main Homestake deposit. Expansion of the Homestake Silver deposit and initial exploration of six newly identified targets will be the major focus of our 2010 program."

The junior exploration and development company is planning to drill six high priority targets this year as part of a wider 12,000 meter drill program, which is expected to start in June.

Drilling at Homestake Silver last year delivered many highly encouraging assay results for the junior precious metals exploration company, including 24.4 metres @ 12.1 grams per tonne (g/t) gold (Au) and 6.8 g/t silver (Ag), including a bonanza grade 2.4 metres @ 87 g/t Au and 22.1 g/t Ag.  The same hole (HR09-165) also intercepted an additional 14.5 metre interval @ 4.8 g/t Au and 2.1 g/t Ag, which included a higher grade 2.5 metres @ 10.4 g/t Au and 3.3 g/t Ag.

This week Bravo Gold released the final results from the 2009 drill season.  The final few holes focused on an area above Homestake Silver and other untested targets.   Two drill holes completed above Homestake Silver returned anomalous intervals of gold and silver, including 3.1 meters averaging 1 gram per tonne gold and 33.7 gram per tonne silver.  The mineralization was encountered in the fringe of a north-northwest plunging lens of gold mineralization within Homestake Silver.  The lens, which is still open to the north-west and at depth, with be targeted in the 2010 drill program. Meanwhile, drill hole HR09-162 intersected a deep portion of the south-eastern extension of Homestake Silver, returning low values of precious metals.

Bravo Gold also turned its attention to several other yet untested targets, including North Dome, which sits approximately 3200 meters north of Homestake Silver.   Only one hole was drilled, but it returned elevated concentrations of silver, plus intervals of primarily lead and zinc.  Bravo Gold was encouraged by this result, as similar geochemistry was noted above the Homestake Silver deposit, suggesting that additional drill holes at depth could be rewarding.

Looking ahead for the rest of 2010, Bravo is planning to report a resource estimate for the project, which is being completed by Scott Wilson, Roscoe, Postle Associates. The resource will incorporate both the Main Homestake and Homestake Silver deposits.

Additional metallurgical testwork is also underway – on the ‘Silver Cap’ portion of the Main Zone – with results expected to be “completed soon”.  

Ahead of a planned 12,000 meter, CDN$6 million drill program this year, Bravo Gold has commenced permitting, planning and other associated works.  Drilling will be multi-focused on testing six high priority exploration targets, expanding Homestake Silver and testing the zone between Homestake Silver and Main Homestake.

Bravo Venture Group can earn 100% by paying Agnico-Eagle Mines 300,000 shares upon signing and exchange approval, and by spending US$2 million over a maximum of six years. Once Bravo Venture Group completes the earn-in, Agnico-Eagle Mines has 60 days to either accept a 2% NSR, of which 1% NSR can be purchased for $1 million, or elect to earn back 60% interest by spending $4 million over a four-year period and producing a bankable feasibility document.  Agnico-Eagle Mines will also have the option to earn a further 10% by either providing or arranging financing for Bravo Venture Group’s share of the capital required for mine development.

"The Cortez district hosts a major percentage of the gold discovered to date along the prolific Battle Mountain-Eureka Gold trend in central Nevada, and we are pleased to add such a significant property position within this important district to our existing portfolio of twelve properties along the trend. We plan to use this property position as a starting point to further expand our involvement in this exciting district," commented President Joe Kizis.

Previous data compiled on the NSR property, including soil and rock geochemistry, geophysical surveys and historical drill data and data from five reverse-circulation (RC) drill holes completed by Agnico-Eagle Mines have been provided to Bravo Venture Group. The junior gold explorer has also conducted its own rock chip sampling at NRS which confirmed anomalous gold up to 1 gram per tonne in “typical Carlin-style pathfinder geochemistry”.

“Historic drilling indicates that several areas contain accumulations of strongly anomalous gold; however, historic drilling cannot be confirmed to have been conducted to NI-43-101 standards and cannot be relied upon to define any possible resource,” the company noted.

Bravo Venture Group also highlighted that the previous vertical drilling on the property may have missed ‘Upper Plate’ rocks which tend to occur in vertical structures.  Additionally, the more desirable ‘Lower Plate’ host-rocks had yet to be encountered on the property. “Compilation of existing data, 3D geologic modeling, and additional geophysical surveys are expected to identify several attractive drill targets.”

The test work including combinations of gravity separation, floatation, whole ore cyanidation and concentrate cyanidation. Gravity separation recovered 35% of the gold and 20% of the silver into a gravity concentrate. 

Lock-cycle flotation tests on gravity tails recovered 85%, 84% and 95% of gold, silver and copper respectively, while direct cyanidation of gravity tails yielded gold and silver extractions of 87% and 49% respectively. 

Bravo further reported that rougher flotation of gravity tails yielded 92% gold and silver recoveries to a rougher floatation concentrate. Cyanidation of the rougher flotation concentrate yielded gold and silver extractions of 88% and 60% respectively.  The overall gold recoveries ranged from 87% to 92% and 59% to 70% for silver.

The metallurgical test work was conducted on Composite 'HR', a blend of three sub-composites from the Main Homestake deposit, which was chosen to test both significant head-grade and to approximate the average mineralogical properties of much of the Main Homestake deposit, Bravo reported.

"We are pleased that our initial metallurgical test work has verified our belief that metal recovery should be quite attractive,” President Joe Kizis commented, “Further optimization is necessary, of course, but several acceptable recovery options are available. Metallurgical test work continues, particularly on the Hangingwall Silver horizon portion of the Main Homestake deposit, and we are planning to initiate test work on our new discovery, the Homestake Silver deposit."

All four process flowsheets incorporated the use of gravity recovery, as the gold at Homestake Ridge contains a significant amount of ‘free gold’ – gold as free particles. Bravo noted that it had observed gold grains up to 150 microns in size. 

Homestake Ridge is a gold-rich epithermal/VMS related system.

“Thick intervals of high-grade gold mineralization in drill holes HR09-164 and HR09-165 have significantly increased both the thickness and lateral extent of this gold-enriched portion of the Homestake Silver zone,” Bravo stated. “Both holes are significant step outs of at least 100 metres from prior mineralized intercepts and are entirely open along strike to the northwest and at depth. Drilling at the Homestake Silver deposit from 2007 to 2009 has identified high-grade silver and gold mineralization, sometimes in multiple horizons, over +500 metres of strike and 400 metres of dip. Mineralization remains open down-dip along this full strike-length. “

Bravo additionally reported that mineralization intersected in drill hole HR09-164, which had been previously reported, had been expanded to 33.2 metres averaging 1.5g/t gold and 5.1g/t silver, which included a 3.6 metre interval averaging 7.9g/t gold and 37.5g/t silver.

Shares in Bravo jumped nearly 9% on the news.

The highlight of the results today was a 10 meter interval in drill hole HR09-164 which retunred 4.4 grams per tonne (g/t) gold (Au) and 31.6 g/t silver (Ag). The 10 meter section included a 1.2 meter interval grading 12.7 g/t Au and 96.1 g/t Ag plus 7.3% lead and 7% zinc. Assays are still pending from portions of the drill hole below the reported intercept which are silicified and associated with sulphides, including pyrite, sphalerite, galena and trace chalcopyrite, Bravo noted. Drill hole HR09-164 is the deepest test of this mineralized zone reported to date.

Bravo also reported that additional assays on drill hole HR09-161 had expanded the mineralized zone to 41.1 meters @ 4 g/t Au and 176.6 g/t Ag.

“These results have significantly extended both the thickness and lateral extent of this newly identified, gold-enriched lens of mineralization within the Homestake Silver zone which now projects an additional 100 metres to the northwest,” Bravo commented. “Drilling at the Homestake Silver zone from 2007-09 has identified high-grade silver and gold mineralization, in sometimes multiple veins over a 350 metre strike-length and 400 metre down-dip extension.”

Mineralization remains open down-dip along this full strike-length.

The two most significant drilling results from exploration holes HR09-156 and HR09-150n extend the gold-silver strike. From the first of two drill holes, Bravo reports that lateral and down-dip testing of the primary target vein returned a 2.1 metre interval averaging 7 grams per tonne gold and 835 grams per tonne silver. In the second a 4.07 metre interval of 2.1 grams per tonne gold and 95.7 grams per tonne silver, which contains a higher concentrated mineralization of 1.2 metres averaging 5.2grams per tonne gold and 209 grams per tonne silver.

Bravo state that these most recent results are direct offsets from previously reported intervals in drill holes that define a 180 metre strike-length and 120 metre down-dip projection of the primary vein. Mineralization is open along strike and down-dip.

The Company also reported that additional assays from veins in the footwall and hangingwall of the primary high-grade structure have been received. These assays include three intervals of between 0.6m and 1.6m with average grading ranging form 1.25 - 4.1 grams per tonne gold and between 278-332 grams per tonne silver.

Bravo identified high-grade silver mineralization in two other exploration holes which were separate from the other zones. Exploration hole HR09-132 is located in the intervening area between the Homestake Silver and the Main Homestake zones, where drilling revealed a 1.5 metre interval averaging 605.7grams per tonne silver. Additionally exploration hole HR09-153 returned a 2.4 metre interval averaging 177.5 grams per tonne silver in an intercept located over 200 metres to the southeast of the primary high-grade structure.

The relationship of these intercepts and the primary high-grade structure is uncertain at this time. Further veins occur in drill holes HR09-153 and HR09-156 above and below the reported high-grade intercepts. Assays from these intervals are pending and may help develop continuity between vein intercepts peripheral to the main higher-grade structure. All intervals are reported as estimated true thickness.

Bravo continues to aggressively drill-test the Homestake Silver zone, maintaining a nominal 100 metre spacing between adjacent holes. Fourteen drill holes have now been completed to target depth on this zone. A total of 44 holes have been drilled on the property in 2009 for over 12,500 metres.

Assays from 21 holes are pending, with two additional holes currently being drilled. Up to 2,000 metres of drilling in six drill holes is planned for the remainder of the 2009 exploration program.

The program includes a single hole targeting a separate and previously untested geophysical and geochemical anomaly located on the eastern slopes of the Kitsault Valley, approximately 1,000 metres to the east of the Main Homestake zone.