Proactiveinvestors recommends
Additional Information
Market: TSX-V
Sector: Gold Mining
EPIC: HSR
Latest Price: 0.07  (8.33% Ascending)
52-week High: 0.45
52-week Low: 0.06
Market Cap: 2.49M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Homestake Resource
www.homestakeresource.com

Homestake Resource Corporation is 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.

Full Homestake Resource profile here
Pdf

Bravo Venture Group acquires Agnico-Eagle property in Cortez Mining District

4th Feb 2010, 9:27 pm
Bravo Venture Group acquires Agnico-Eagle property in Cortez Mining District

Junior gold exploration outfit Bravo Venture Group (TSX-V: BVG, FSE: B6I) has inked a deal with the U.S subsidiary of Agnico-Eagle Mines (TSX-AEM) to acquire the ‘NSR’ property which lies within the highly prospective Cortez Mining District in central Nevada. The property covers approximately 1,300 hectares in two irregular blocks.


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.”

No investment advice


Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".


You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.


You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.


From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.


You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here