Vancouver — Long and high-grade gold intercepts at Bravo Venture Group’s (BVG-V) Homestake Ridge property, 35 km southeast of Stewart, B. C., are providing insight into where the company should drill in 2009.
The latest batch of results includes 70 metres grading 6.1 grams gold per tonne and 15.3 grams silver starting at 53 metres depth in hole 120. The highest grades came from a 7-metre interval that graded 27.9 grams gold and 37.2 grams silver starting 107 metres down-hole.
The high-grade zone, projecting northwest into an essentially untested area, has been encountered in other holes. For instance, hole 87 hit 15 metres grading 69.2 grams gold, hole 30 cut 6 metres of 10.8 grams gold and hole 118 returned 9 metres at 30.3 grams gold.
Those results have Bravo eyeing the northwest as a priority target for 2009.
So far, the company has outlined a 900,000 oz. gold inferred resource at Homestake and is working on an updated resource estimate.
Apart from drill results, fall has been fruitful financially for Bravo.
Buoyed by high-grade drill results in October that included 62 metres grading 6.1 grams gold, Bravo arranged two non-brokered private placements in November worth about $1.5 million combined.
The first netted Bravo $1.3 million in exchange for 3.6 million units at 35¢. Each unit was worth one common share and a purchase warrant exercisable over two years at 40¢. The second returned about $200,000 to Bravo under the same terms.
Bravo holds a 100% interest in the 27-sq.-km property.
On news of the drill results, Bravo’s share price held even at 49¢.
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