Bravo Drilling at South Lone Mtn and Signal; Other Projects Updatedadmin
Bravo Venture Group, Inc. said today mud-rotary drilling is underway at the company’s South Lone Mountain project and reverse-circulation drilling continues at its Signal project, after an unanticipated delay. These are two of the company’s 13 projects (approximately 65 sq.mi.) in the Battle-Mountain/Eureka (Cortez) gold trend.
The first of four mud-rotary holes at South Lone Mountain is currently at a depth of 470 metres, with drilling interrupted by the US Thanksgiving Holiday weekend. The hole is located approximately 335 metres southwest of the historic oil well with gold-bearing chips (see news release dated February 15, 2005). Bravo’s current hole intersected what is believed to be Lone Mountain dolomite below gravel at a depth of 456 metres. This unit is part of the Lower Plate carbonate sequence, stratigraphically above the prospective Roberts Mountains formation. The mud-rotary holes are primarily designed to evaluate a previously untested, northwesterly trending fault. Detailed gravity, supported by seismic and soil geochemistry, indicate that this fault continues northwestward onto the company’s adjacent South Gold Bar property, where at least one mud-rotary hole (minimum of 460 metres) is planned.
Assays are still pending for the company’s first five holes at its Signal property. The company’s sixth hole of a planned fifteen hole program is underway at a depth of 78 metres at the Bisoni target, which is located approximately 2,200 metres to the southeast of the Main Signal target area. The Bisoni target is an area of brecciated jasperoid float and subcrop within a vegetation “kill” area, formed at the intersection of N70W and N-S high-angle fault zones. Grab samples from this undrilled target contain 100′s ppb to 3.0 g/t Au and strongly anomalous pathfinder elements.
One mud-rotary hole was completed to 427 metres at the company’s HO project in the Battle Mountain trend. The hole intersected gravel, lake sediments, and ended in unaltered tuffaceous sandstone.
No assays have yet been received from Phase II drilling at the Homestake Ridge property in northwestern British Columbia, where this season the company completed 28 holes for a total of 6,531.5 metres (see news releases dated August 28th & September 18th, 2006 for assay results from Phase I). Assays are pending for twelve holes completed in Phase II.
Bravo can earn a 100% interest in the Homestake Ridge project, from Teck Cominco Limited and private interests. Teck Cominco Limited may re-acquire a 60% interest in the property by spending two times Bravo Venture expenditures and can earn up to an additional 10% by sole funding a feasibility study and arranging production financing and construction guarantees.
Mechanical trenching of auriferous quartz veins began mid November at the Company’s Woewodski Island project in southeast Alaska, attempting to follow up surface samples containing multi-ounce gold values reported earlier (see news release dated August 17th, 2006). The program has been suspended temporarily as a result of unseasonal deep-snow conditions. Current plans are to resume as soon as weather conditions permit.
Joseph Kizis Jr. (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President
Bravo Venture Group Inc.
We seek safe harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
Jay Oness Bravo Venture Group Inc. (604) 684-9384 or 1-888-456-1112 Email: email@example.com
Source: Bravo Venture Group Inc.