Bravo Gold uncovers new mineralization at Homestake Ridge, BC

Bravo Gold Corp. (CVE:BVG) reported Thursday afternoon that it has identified new mineralization at its main Homestake Ridge project, and confirmed mineralization at its Kinskuch property, both located in northwestern British Columbia.
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.