www.bravoventuregroup.com
Bravo Venture Group Inc. 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 that exhibit potential for discovery.
Bravo’s exploration activities are focused in N.W. British Columbia and Nevada. The company’s 100% owned VMS/Epithermal Homestake Ridge gold/silver Project in British Columbia is rapidly advancing with excellent drill results. Bravo also has the 100% owned Silver Basin Project which is located 14km southeast of Bravo’s Homestake Ridge project.
Bravo Gold’s Homestake better suited to underground mining techniques
Bravo Gold (TSX-V:BVG) reported an updated resource for both the Homestake Silver deposit and Main Homestake deposit and confirmed that a preliminary engineering study recommended pursuing an underground mine development.
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.
