|
|
|---|
Wednesday, January 6, 2010
Gold in Canada: Bravo Drills 12.1g/t Au Over 24.4 Metres, Expanding Homestake Silver Deposit BVG.v, GG, NEM, ABX, HUI, XAU, GDX, FCX, RGLD, AUY,
Posted by andre at 12:12 PM
Here we should talk about one Macro Event, which will be crucial for all our Micro Caps, we are writing here about: Burst of the Treasury Bubble. Governments, Institutions and people are holding them now exactly for the wrong reason: To Be Safe. It was important last year, when everybody moved into Treasuries for safety to eliminate Agency problem with collapsing banks, now when all governments back stop banking system Elvis moment for Treasuries is gone.
According to Jim Puplava next year U.S. Treasury will have to roll out 2 Trillion dollars of debt in maturity and finance another estimated 2 Trillion dollars of budget deficit in 2010. When more and more paper is coming into the market, prices are going down. Puru Saxena talks with Jim Puplava this week about FED buying 82-85% of all newly issued treasuries - we do not know, but will not be surprised. Once Treasury market Bubble will start bursting, where all these money will go?
Inflation is a function of printing press, credit expansion. Higher prices will come as a result of created money chasing the same amount of goods. Here is our Gold and Silver play as a store of value."
According to Jim Puplava next year U.S. Treasury will have to roll out 2 Trillion dollars of debt in maturity and finance another estimated 2 Trillion dollars of budget deficit in 2010. When more and more paper is coming into the market, prices are going down. Puru Saxena talks with Jim Puplava this week about FED buying 82-85% of all newly issued treasuries - we do not know, but will not be surprised. Once Treasury market Bubble will start bursting, where all these money will go?
Inflation is a function of printing press, credit expansion. Higher prices will come as a result of created money chasing the same amount of goods. Here is our Gold and Silver play as a store of value."
It is getting serious: with this kind of intersections and recent increase of the landholding at Homestake - exploration target is getting more important and deposit is shaping up with its potential high grade Gold core.
- $8.6 million financing closing- Multi-rig, +40-hole, 8,500 metre drill program expanded by 2,000 metres
- New gold zone discovered at the Homestake Silver Zone
- Initial mine and metallurgical studies as well as preliminary baseline studies underway
- 2008 Bonanza drill results (73 m averaging 20.99 g/t Au, incl. 7.65 m of 181.58 g/t Au.)
- Nevada Projects to be spun-out re Plan of Arrangement to Bravada Gold Corp."
Bravo Drills 12.1g/t Au Over 24.4 Metres, Expanding Homestake Silver Deposit
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 01/06/10) - Bravo Venture Group Inc. (TSX-V:BVG - News)(Frankfurt:B6I - News) reported today that high-grade gold intercepts from two major 100 metre step-out drill holes continue to expand the width and lateral dimensions of the mineralization in the Homestake Silver deposit on its 100 percent owned Homestake Ridge Project, located in NW British Columbia. Homestake Silver is believed to be a separate, second deposit on the Homestake Ridge property, located approximately 700 metres to the southeast of the Main Homestake deposit.
The Company reported multiple high-grade gold intercepts of significant thickness in drill hole HR09-165. Highlights of three of these intercepts, all estimated true thicknesses, include:
- a 24.4 metre interval averaging 12.1g/t gold and 6.8g/t silver, which included a higher-grade 2.4 metre interval averaging 87.0g/t gold and 22.1g/t silver.
- a 14.5 metre interval averaging 4.8g/t gold and 2.1g/t silver, which included a higher-grade 2.5 metre interval averaging 10.4g/t gold and 3.3g/t silver.
- and a 2.7 metre interval averaging 10.0g/t gold and 134.3g/t silver.
The Company also reported that newly received assays have expanded a second mineralized zone in drill hole HR09-164 from a previously reported 0.4 metre interval averaging 7.1g/t gold and 148.0g/t silver to 33.2 metres averaging 1.5g/t gold and 5.1g/t silver, which included a 3.6 metre interval averaging 7.9g/t gold and 37.5g/t silver.
To view Figure 1, please click on the following link: http://us.lrd.yahoo.com/_ylt=AjqSyroAQUW.bMQyDWeWONqtcq9_;_ylu=X3oDMTE2OWh2ZWsxBHBvcwMxBHNlYwNuZXdzYXJ0Ym9keQRzbGsDaHR0cG1lZGlhM21h/SIG=11lstengp/**http%3A//media3.marketwire.com/docs/BVGfig1106.jpg
Results were also received from drill hole HR09-163 and included a 3.5 metre interval averaging 2.9g/t gold and 155.7g/t silver within a 40.4 metre interval averaging 0.3g/t gold and 49.8g/t silver. Anomalous, but generally lower grade silver values were returned from several holes that tested the southeastern extension of the mineralized zone. All intervals are reported as estimated true thickness.
Thick intervals of high-grade gold mineralization in drill holes HR09-164 and HR09-165 have significantly increased both the thickness and lateral extent of this gold-enriched portion of the Homestake Silver zone. Both holes are significant step outs of at least 100 metres from prior mineralized intercepts and are entirely open along strike to the northwest and at depth. Drilling at the Homestake Silver deposit from 2007 to 2009 has identified high-grade silver and gold mineralization, sometimes in multiple horizons, over +500 metres of strike and 400 metres of dip. Mineralization remains open down-dip along this full strike-length.
Homestake Ridge Project
Bravo has completed drilling for the season at the Homestake Ridge Project and crews are in the process of demobilization. A total of 48 holes have been cored on the property for 13,436 metres during this year's program. Assays from 5 drill holes are pending.
Twenty-two holes have been drilled in Homestake Silver deposit (two lost), 22 holes in the Main Homestake deposit (four lost), and six holes tested other targets on the claim group (one lost). An updated long section of the 2009 drill plan and a full compilation of the 2009 assay summaries are available on Bravo's website at bravoventuregroup.com.
About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Pursuant to the recently announced "Plan of Arrangement", Bravada Gold Corp. will focus on exploring Bravo's extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada.
Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President
Bravo Venture Group Inc.
We seek safe harbor."
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment