Zurück
Neue Bohrergebnisse
Bravo Venture Group Inc.: Battle Mountain/Eureka Trend Update
VANCOUVER, BRITISH COLUMBIA, Mar 6, 2006 (CCNMatthews via COMTEX) --
Bravo Venture Group Inc. (TSX VENTURE:BVG)(FWB:B6I) today provided an exploration update on the company's 13 project, 75-square-mile holdings in Nevada's Battle Mountain/Eureka trend. Three projects are subject to exploration agreements with major mining companies, one is an earn-in being funded by Bravo, and nine are being advanced by Bravo for potential farm-out to majors.
South Lone Mountain Project (Placer Dome U.S. earn-in)
Bravo reported it has now received results from a nine-hole, 3514 metre reverse-circulation and mud-rotary drilling program at the South Lone Mountain project. Two areas were tested within the 45-square-mile, strategically located claim block. This property is 100% owned by the company and is being explored under an option agreement by Placer Dome U.S. which has recently been acquired by Barrick Gold Corporation. Thirty two sites were permitted and bonded by Placer Dome; however, planned follow up drilling is pending an evaluation by Barrick of all joint-venture exploration projects held by Placer Dome, including the South Lone Mountain.
The company said low-level gold values and anomalous pathfinder elements that are often associated with Carlin type gold systems were encountered in an intercept of Roberts Mountains formation, the major host rock for gold deposits in the region.
Bravo said additional drilling is warranted, particularly along possible feeder faults, and the company is awaiting advice from its funding partner regarding the next phase of exploration. A detailed summary and analysis of the recently completed program follow in the " Technical Review" section of this update.
Pete Hanson Project (Placer Dome U.S. earn-in)
This 190-claim (1538 ha) project rapidly is advancing to the drill ready stage. 2005 project work included detailed mapping and rock-chip sampling, soil and gas geochemistry, magnetics and gravity geophysics, and staking additional claims. Minor follow-up sampling and detailed mapping is planned as soon as snow conditions permit, with drill permitting planned shortly thereafter.
Granite Mtn Project (Agnico-Eagle earn-in)
A deep hole (+/-750m) is anticipated to begin in April on this 129 hectare prospect located on private fee land, some 10 km north of the Pipeline (Cortez) mine. Agnico-Eagle can earn a 60 percent interest by spending US$2.5Million over five years. The primary target is high-grade gold hosted by Lower Plate carbonates, such as occur in the Cortez deposits.
3-Bar Project (100% Bravo)
The 145-claim (1174 ha) 3-Bar prospect surrounds Tone Resources' Gold Bar North project. Tone reports that recent drilling encountered encouraging alteration within Lower Plate rocks on their ground near our property boundary; however, assays are pending (see Tone Resources news release dated February 27, 2006). The collar of Tone's hole is approximately 220 meters east of Bravo's property boundary, with the hole angled towards Bravo's property.
Signal Project (100% Bravo)
The company plans an aggressive exploration program at the Signal Project, which abuts the western boundary of Barrick's Ruby Hill mine property. Historic drilling at Signal concentrated on shallow, oxide gold mineralization along the unconformity at the top of Lower Plate carbonates. Bravo intends to drill test northerly trending faults that could host high-grade gold mineralization, as well as potentially favorable lower stratigraphic horizons within the Lower Plate carbonates. Recent staking has increased the number of claims to 193 (1562 ha).
Shoshone Project (Placer Dome U.S. earn-in by Bravo)
Bravo is continuing geologic mapping and sampling as weather permits. Soil geochemistry is planned this spring, with drilling possible this summer.
Other Projects (100% Bravo)
Exploration will continue on the Company's seven other projects in order to advance them to potential J/V agreements with other companies.
South Lone Mountain Technical Review
Two areas were drilled in late 2005/early 2006 as part of an earn-in agreement with Placer Dome (now Barrick). These areas are discussed below.
Bedrock Shelf Area
All three holes completed to target depth on the bedrock shelf intersected portions of the Roberts Mountains formation; one hole was lost in gravel. Mud-rotary drill hole PSLM0601 intersected a 12-meter interval beginning at 456 meters depth with low-level gold (up to a maximum of 65 ppm Au) and anomalous pathfinder elements that are often associated with Carlin-type gold systems. Arsenic (up to 239 ppm), antimony (up to 2.7 ppm), and thallium (up to 0.35 ppm) are distinctively elevated in the interval relative to background. Base metals are not anomalous. Bedrock was intersected at 427 meters and consists of dolomitized Roberts Mountains formation with minor to common dolomite veinlets. Caving of overlying gravel was a significant problem in this particular hole, so the possibility cannot be ruled out that mineralized fragments within the gravel contributed gold to the interval; however, 62 meters of gravel immediately overlying bedrock was assayed every 1.5 meters and contains a maximum of 10 ppb Au. Consequently, the contamination may have diluted values within the interval.
Hole PSLM0601 is located approximately 15 meters in a N40W direction from the oil well that contained a 15-meter composite sample assaying 2.36 g/t gold immediately above bedrock (see news release February 15, 2005). Gravel immediately above bedrock in PSLM0601 contains minor chips of jasperoid and friable sandstone, but does not contain anomalous gold, indicating the distribution of gold at the bedrock contact is erratic.
Hole PSLM0505 was drilled approximately 168 meters east of the oil well and contains a maximum of 31 ppb gold (see news release January 11, 2006). The Roberts Mountains formation and other bedrock formations are generally unaltered, with weakly anomalous pathfinder elements.
Hole PSLM0602 was located on a separate target, approximately 1.5 kilometers to the southeast of the oil well. It contains weakly anomalous gold, a maximum of 19 ppb in Lone Mountain dolomite, and no anomalous gold in the Roberts Mountains formation.
Lone Mountain Pediment Area
Three holes successfully tested the Bartine member of the McColley Canyon formation on the northwestern margin of Lone Mountain, two holes were lost in deeper than expected gravel. The holes contain no anomalous gold values in bedrock, but do contain up to 784 ppm zinc, 4.2 ppm mercury, 3.2 ppm selenium, and 2960 ppm barium.
Interpretation
On the bedrock shelf, the company is encouraged by the presence of distinctly anomalous gold with pathfinder elements typically associated with Carlin-style mineralization within the Roberts Mountains formation, the major host rock for gold deposits in the region. The source of higher gold concentrations encountered in the oil well remains problematic. Seismic profiles and gravity trends indicate that bedrock generally becomes shallower to the east of the oil well; however, current drilling indicates the opposite in the immediate area of the oil well. Such local variations in bedrock topography are beyond the sensitivity of these geophysical techniques, complicating interpretation of possible source areas of the gold. One possible source is a northwesterly trending fault located 370 meters southwest of the oil well, as inferred from seismic and gravity data; faults with similar orientations are important mineralized structures elsewhere along the Battle Mountain-Eureka trend. Additional drilling is warranted along this possible feeder fault.
Anomalous geochemistry encountered in drill holes at the Lone Mountain pediment may be related to an older base-metal system, such as exposed nearby at the historic Lone Mountain zinc mine. Importantly, older mineralized structures may guide younger gold mineralization; therefore, further evaluation is warranted.
Joseph Anthony Kizis, Jr., President and Director of the company, is the Qualified Person, as defined in NI 43-101, who is responsible for the technical information contained in this release. Assays are standard 30-gram fire assay/AA finish by American Assay Labs, with check assays and multi-element ICP analyses by ALS Chemex. Blanks, standards, and repeats were included as part of the program.
On behalf of the Board of Directors
Joseph A. Kizis, Jr., Director, President, Bravo Venture Group Inc.
We seek safe harbor.
SOURCE: Bravo Venture Group Inc.
Bravo Venture Group Inc. Jay Oness 1-888-456-1112 or (604) 684-9384 (604) 688-4670 (FAX) corpdev@mnxltd.com www.bravoventuregroup.com
Copyright (C) 2006 CCNMatthews. All rights reserved.
< < Previous | Index | Next > >
DOW 11,021.6 -3.9 NASDAQ 2,302.6 EVEN NYSE
Bravo Venture Group Inc.: Battle Mountain/Eureka Trend Update
VANCOUVER, BRITISH COLUMBIA, Mar 6, 2006 (CCNMatthews via COMTEX) --
Bravo Venture Group Inc. (TSX VENTURE:BVG)(FWB:B6I) today provided an exploration update on the company's 13 project, 75-square-mile holdings in Nevada's Battle Mountain/Eureka trend. Three projects are subject to exploration agreements with major mining companies, one is an earn-in being funded by Bravo, and nine are being advanced by Bravo for potential farm-out to majors.
South Lone Mountain Project (Placer Dome U.S. earn-in)
Bravo reported it has now received results from a nine-hole, 3514 metre reverse-circulation and mud-rotary drilling program at the South Lone Mountain project. Two areas were tested within the 45-square-mile, strategically located claim block. This property is 100% owned by the company and is being explored under an option agreement by Placer Dome U.S. which has recently been acquired by Barrick Gold Corporation. Thirty two sites were permitted and bonded by Placer Dome; however, planned follow up drilling is pending an evaluation by Barrick of all joint-venture exploration projects held by Placer Dome, including the South Lone Mountain.
The company said low-level gold values and anomalous pathfinder elements that are often associated with Carlin type gold systems were encountered in an intercept of Roberts Mountains formation, the major host rock for gold deposits in the region.
Bravo said additional drilling is warranted, particularly along possible feeder faults, and the company is awaiting advice from its funding partner regarding the next phase of exploration. A detailed summary and analysis of the recently completed program follow in the " Technical Review" section of this update.
Pete Hanson Project (Placer Dome U.S. earn-in)
This 190-claim (1538 ha) project rapidly is advancing to the drill ready stage. 2005 project work included detailed mapping and rock-chip sampling, soil and gas geochemistry, magnetics and gravity geophysics, and staking additional claims. Minor follow-up sampling and detailed mapping is planned as soon as snow conditions permit, with drill permitting planned shortly thereafter.
Granite Mtn Project (Agnico-Eagle earn-in)
A deep hole (+/-750m) is anticipated to begin in April on this 129 hectare prospect located on private fee land, some 10 km north of the Pipeline (Cortez) mine. Agnico-Eagle can earn a 60 percent interest by spending US$2.5Million over five years. The primary target is high-grade gold hosted by Lower Plate carbonates, such as occur in the Cortez deposits.
3-Bar Project (100% Bravo)
The 145-claim (1174 ha) 3-Bar prospect surrounds Tone Resources' Gold Bar North project. Tone reports that recent drilling encountered encouraging alteration within Lower Plate rocks on their ground near our property boundary; however, assays are pending (see Tone Resources news release dated February 27, 2006). The collar of Tone's hole is approximately 220 meters east of Bravo's property boundary, with the hole angled towards Bravo's property.
Signal Project (100% Bravo)
The company plans an aggressive exploration program at the Signal Project, which abuts the western boundary of Barrick's Ruby Hill mine property. Historic drilling at Signal concentrated on shallow, oxide gold mineralization along the unconformity at the top of Lower Plate carbonates. Bravo intends to drill test northerly trending faults that could host high-grade gold mineralization, as well as potentially favorable lower stratigraphic horizons within the Lower Plate carbonates. Recent staking has increased the number of claims to 193 (1562 ha).
Shoshone Project (Placer Dome U.S. earn-in by Bravo)
Bravo is continuing geologic mapping and sampling as weather permits. Soil geochemistry is planned this spring, with drilling possible this summer.
Other Projects (100% Bravo)
Exploration will continue on the Company's seven other projects in order to advance them to potential J/V agreements with other companies.
South Lone Mountain Technical Review
Two areas were drilled in late 2005/early 2006 as part of an earn-in agreement with Placer Dome (now Barrick). These areas are discussed below.
Bedrock Shelf Area
All three holes completed to target depth on the bedrock shelf intersected portions of the Roberts Mountains formation; one hole was lost in gravel. Mud-rotary drill hole PSLM0601 intersected a 12-meter interval beginning at 456 meters depth with low-level gold (up to a maximum of 65 ppm Au) and anomalous pathfinder elements that are often associated with Carlin-type gold systems. Arsenic (up to 239 ppm), antimony (up to 2.7 ppm), and thallium (up to 0.35 ppm) are distinctively elevated in the interval relative to background. Base metals are not anomalous. Bedrock was intersected at 427 meters and consists of dolomitized Roberts Mountains formation with minor to common dolomite veinlets. Caving of overlying gravel was a significant problem in this particular hole, so the possibility cannot be ruled out that mineralized fragments within the gravel contributed gold to the interval; however, 62 meters of gravel immediately overlying bedrock was assayed every 1.5 meters and contains a maximum of 10 ppb Au. Consequently, the contamination may have diluted values within the interval.
Hole PSLM0601 is located approximately 15 meters in a N40W direction from the oil well that contained a 15-meter composite sample assaying 2.36 g/t gold immediately above bedrock (see news release February 15, 2005). Gravel immediately above bedrock in PSLM0601 contains minor chips of jasperoid and friable sandstone, but does not contain anomalous gold, indicating the distribution of gold at the bedrock contact is erratic.
Hole PSLM0505 was drilled approximately 168 meters east of the oil well and contains a maximum of 31 ppb gold (see news release January 11, 2006). The Roberts Mountains formation and other bedrock formations are generally unaltered, with weakly anomalous pathfinder elements.
Hole PSLM0602 was located on a separate target, approximately 1.5 kilometers to the southeast of the oil well. It contains weakly anomalous gold, a maximum of 19 ppb in Lone Mountain dolomite, and no anomalous gold in the Roberts Mountains formation.
Lone Mountain Pediment Area
Three holes successfully tested the Bartine member of the McColley Canyon formation on the northwestern margin of Lone Mountain, two holes were lost in deeper than expected gravel. The holes contain no anomalous gold values in bedrock, but do contain up to 784 ppm zinc, 4.2 ppm mercury, 3.2 ppm selenium, and 2960 ppm barium.
Interpretation
On the bedrock shelf, the company is encouraged by the presence of distinctly anomalous gold with pathfinder elements typically associated with Carlin-style mineralization within the Roberts Mountains formation, the major host rock for gold deposits in the region. The source of higher gold concentrations encountered in the oil well remains problematic. Seismic profiles and gravity trends indicate that bedrock generally becomes shallower to the east of the oil well; however, current drilling indicates the opposite in the immediate area of the oil well. Such local variations in bedrock topography are beyond the sensitivity of these geophysical techniques, complicating interpretation of possible source areas of the gold. One possible source is a northwesterly trending fault located 370 meters southwest of the oil well, as inferred from seismic and gravity data; faults with similar orientations are important mineralized structures elsewhere along the Battle Mountain-Eureka trend. Additional drilling is warranted along this possible feeder fault.
Anomalous geochemistry encountered in drill holes at the Lone Mountain pediment may be related to an older base-metal system, such as exposed nearby at the historic Lone Mountain zinc mine. Importantly, older mineralized structures may guide younger gold mineralization; therefore, further evaluation is warranted.
Joseph Anthony Kizis, Jr., President and Director of the company, is the Qualified Person, as defined in NI 43-101, who is responsible for the technical information contained in this release. Assays are standard 30-gram fire assay/AA finish by American Assay Labs, with check assays and multi-element ICP analyses by ALS Chemex. Blanks, standards, and repeats were included as part of the program.
On behalf of the Board of Directors
Joseph A. Kizis, Jr., Director, President, Bravo Venture Group Inc.
We seek safe harbor.
SOURCE: Bravo Venture Group Inc.
Bravo Venture Group Inc. Jay Oness 1-888-456-1112 or (604) 684-9384 (604) 688-4670 (FAX) corpdev@mnxltd.com www.bravoventuregroup.com
Copyright (C) 2006 CCNMatthews. All rights reserved.
< < Previous | Index | Next > >
DOW 11,021.6 -3.9 NASDAQ 2,302.6 EVEN NYSE
