SEPTEMBER 21, 2006 - 17:24 ET
CORRECTION FROM SOURCE/Bravo Venture Group Inc.: Four Nevada Projects Permitted for Drilling
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 21, 2006) - The following corrects and replaces the release sent out on September 21, 2006 at 15:08 ET titled; "Bravo Venture Group Inc.: Three Nevada Projects Permitted for Drilling". The South Lone Mountain paragraph has been added in the release.
Bravo Venture Group Inc. (TSX VENTURE:BVG)(FWB:B6I) said today the company plans drill programs on four of its 13 projects (approximately 65 sq.mi.) in the Battle-Mountain/Eureka (Cortez) gold trend. The company also is advancing several other Cortez projects to the drilling ready stage and expects JV partner, Placer Dome US/Barrick, to drill test the Pete Hanson project in 2007.
Nevada Projects
- Signal (100 percent Bravo) - A drill permit and bond are in place for a first-phase 3,500 metre reverse-circulation drilling program initially scheduled to begin in August. The program has been delayed due to lack of availability of a track-rig. Targets include north-trending normal faults near thick zones of anomalous gold drilled by previous operators and undrilled breccia bodies that contain 100's ppm to 3 g/t Au in surface grab samples. The project adjoins the western boundary of Barrick Gold's Ruby Hill property where the Archimedes mine is being readied for production.
- South Lone Mountain (100 percent Bravo) - The BLM has approved a permit, subject to posting of a bond, for a second-phase drill program that will primarily evaluate an untested northwesterly trending fault projected to have a three kilometer strike length along which it should cut several important Lower Plate host rocks. The fault may have been the source of gold intersected in oil well chips (see news release dated February 15, 2005).
- Shoshone Pediment (Earn-in by Bravo from Placer Dome US Inc./Barrick) - A drill permit and bond are in place for a mud-rotary or reverse-circulation hole to determine basement lithology, alteration, and possible mineralization. The project is along the northwestern projection of gold mineralization hosted in Upper Plate rocks at White Knight's Slaven Canyon property. Geologic mapping suggests prospective Lower Plate rocks may underlie thin gravel cover at Shoshone Pediment.
- HO (100 percent Bravo) - A drill permit and bond are in place for a mud-rotary or reverse-circulation hole to determine basement lithology, alteration, and possible mineralization based on Bravo's detailed surface geochemistry, detailed gravity, and lineament study for this pediment-covered project. Although covered by pediment, HO is adjacent to exposed Lower Plate rock with gold at Red Hills.
- Pete Hanson (Placer Dome US Inc./Barrick earn in) - Follow-up detailed mapping and rock-chip sampling of exposed Lower Plate rocks is expected to bring this project to the drill-ready stage in 2007. Barrick is wholly funding the work and is operator.
- Granite Mountain (100 percent Bravo) - Agnico-Eagle has notified Bravo that it will not continue to explore the Granite Mountain property. Agnico-Eagle was not able to complete a deep reverse-circulation hole to the planned depth of 730 metres due to stuck drill pipe; the hole targeted high-grade gold hosted by Lower Plate carbonates such as occurs in the nearby Cortez deposits. The hole was lost at 524 metres and a second hole was drilled to 293 metres to complete its drill commitment. Both holes remained in Upper Plate rocks, but at least two different types of altered Tertiary porphyry dikes were encountered in the deep hole. Pathfinder geochemistry is typical for a Carlin-style gold system, and concentrations of gold and arsenic increase down hole from background levels of less than 20 ppb to approximately 60 ppb Au with individual 3 metre intervals of +100 ppb Au and background levels of less than 50 ppm As increasing to approximately 150 ppm As. Bravo currently is evaluating the drill data in detail.
- Other Nevada Projects (all 100 percent Bravo) - Targeting has been completed at Gabel, Three Bar, and South Gold Bar, and permitting will begin. Detailed surface sampling has been completed at SF, with evaluation in progress. Compilation of historic drilling and additional field work is planned for Temple and Shiva as time permits. Soil sampling is planned at the alluvial-covered North Lone Mountain for the spring of 2007.
In other News, core drilling is expected to resume this week at the Homestake Ridge Property in northwestern British Columbia where the company earlier reported highlight intercepts of 14.8 metres of 15.7 g/t Au in HR 06-24 and 8.5 metres of 25.3 g/t Au, including 4.0 metres of 48.3 g/t Au in hole HR 06-27, a 70-metre offset to hole HR 06-24 (see news releases dated August 28th & September 18th, 2006) from its epithermal/VMS-related system hosted by Eskay Creek/Silbak-Premier stratigraphy. Assays from all core holes are slowly being received from the lab and will be the subject of separate news releases.
Surface work continues at the Company's Woewodski Project in southeast Alaska, following up surface samples containing multi-ounce gold values reported earlier (see news release dated August 17th, 2006). The property hosts both precious and base metal-rich massive sulphides and gold-rich orogenic quartz veins. Mechanical trenching is planned as soon as a modified permit has been received.
Joseph Kizis Jr. (P.Geo.) is the Qualified Persons 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.
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