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Bravo Announces a $3 Million 2008 Exploration Program on Its Homestake Ridge Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2008) - Bravo Venture Group Inc. ("Bravo") (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that Teck Cominco Limited ("Teck Cominco") has not delivered to Bravo a notice exercising its Back In right to earn a 60% interest in the Property and the period of time to do so has expired. Bravo accordingly retains a 100% interest in the Property, subject to royalties as set out below.

Bravo's President Joseph Kizis said, "The fact that we now hold a 100% interest, with no back in rights to third parties, affords us the opportunity to aggressively explore and develop the Homestake Ridge Property to its full potential, including the ability to secure senior financing on commercial terms as may be needed to further develop the Property. Bravo has on hand sufficient capital to fund the commencement of the 2008 exploration program scheduled to begin in July 2008."

The Homestake Ridge project, located 32 km southeast of Stewart, B.C., consists of Mineral Title and Crown Grant claims totaling 2,725 ha. In the 2008 exploration season Bravo plans an aggressive drilling program of approximately 7,500 metres designed to further expand and evaluate the existing resource and to develop resources at several exploration areas discussed below.

In March 2007 Bravo announced an Inferred Resource estimate at the Main Homestake zone of 903,231 ounces of gold and 5,745,746 ounces of silver contained within 11.9 million tonnes with an average grade of 2.36 g/t Au and 15.0 g/t Ag using a cut-off grade of 0.5 g/t gold (see NR-04-07). (1) Drilling through 2007 has tested a 600 metre strike length of the mineralized horizon to depths of over 600 metres. The deposit remains open down dip and along strike to the southeast and northwest. A long section showing the location of completed drill holes has been posted on the company's website www.bravoventuregroup.com.

Drilling in 2008 will test extensions of the deposit, particularly to the northwest. Several holes will also explore for possible bonanza-grade feeder faults beneath the known stratabound mineralization.

In addition to the Main Homestake zone, additional targets have been identified along the mineralized horizon for over 3,000 metres of strike length. Two such targets, the Homestake Silver and Vanguard Gold zones, returned encouraging results from initial drilling during 2007 and will be further tested by drilling in 2008.

At the Vanguard Gold zone, located 2,200 metres to the southeast of the Main Homestake zone, 2007 drill results returned encouraging assays including a 1.05 metre interval grading 5.21 g/t Au within a broader 38.88 metre interval grading 0.60 g/t Au. Similar values were reported from Bravo's initial drilling at the Main Homestake zone in 2003, suggesting potential to develop another significant near-surface lens of mineralization at the Vanguard Gold zone.

Highlights from 2007 holes at the Homestake Silver zone, located only 400 metres southeast of the Main Homestake zone, include: a 0.69 metre interval grading 2.4 g/t Au and 891.8 g/t Ag within a broader 17.9 metre interval grading 0.27 g/t Au and 66.4 g/t Ag in drill hole HR07-78 and three mineralized intervals from drill hole HR07-76 grading 24.5 g/t Ag over 6.6 metres, 63.6 g/t Ag over 10.5 metres and 15.9 g/t Ag over 10.5 metres, which all occur within a 101.1 metre interval grading 14.5 g/t Ag. All intercepts are reported as estimated true thicknesses.

The Vanguard Gold zone, the Homestake Silver zone and the northwest extension of the Main zone are significant as they highlight the district-wide mineral potential of the Homestake Ridge project. Several other target zones have been identified, including the Vanguard Copper zone, where historical sampling of high-grade surface exposures in altered volcanic rock returned assays from chip and channel samples grading from 4.4% to 13.4% copper, 119 g/t to 296 g/t silver and 0.2 g/t to 3.8 g/t gold (2). An initial drill test of this zone is planned during the 2008 season.

The property consists of located mineral claims and Crown Grant mineral claims in which a 100% interest was earned by Bravo from Teck Cominco and a private Optionor, respectively. On portions of the located mineral claims there is a 2% NSR royalty in favour of Teck Cominco and on other portions of the located mineral claims there is a 2% NSR royalty in favour of the original Optionor. Bravo has the right to purchase 1% of the Teck Cominco royalty for $1 million and 1% of the original Optionor's royalty for $1 million. The balance of the Property consisting of Crown Granted mineral claims in which Bravo has earned a 100% interest, subject to a 2% NSR royalty.

About Bravo Venture Group Inc.

Bravo Venture Group Inc. is focused on exploring precious and base metal-rich projects within North America, currently with properties in Nevada, Alaska, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. The Woewodski Island project in southeast Alaska hosts both precious and base metal-rich massive sulphides and gold-rich orogenic quartz veins. The Homestake Ridge project is a gold-rich epithermal/VMS-related vein system within Eskay Creek/Silbak-Premier stratigraphy.

To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/0403bvg.jpg

Rob Macdonald (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.

(1) An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Due to the uncertainty which may attach to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred Mineral Resources must be excluded from estimates forming the basis of feasibility or other economic studies (43-101CP, CIM, 2001).

(2) Assays from the Vanguard Copper zone are from historical sampling on the property by Teck Cominco Ltd. prior to the Bravo option. Bravo has not independently verified these assay results, but has no reason to doubt the reliability of the data.

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 new
Bravo Announces a $3 Million 2008 Exploration Program on Its Homestake Ridge Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2008) - Bravo Venture Group Inc. ("Bravo") (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that Teck Cominco Limited ("Teck Cominco") has not delivered to Bravo a notice exercising its Back In right to earn a 60% interest in the Property and the period of time to do so has expired. Bravo accordingly retains a 100% interest in the Property, subject to royalties as set out below.

Bravo's President Joseph Kizis said, "The fact that we now hold a 100% interest, with no back in rights to third parties, affords us the opportunity to aggressively explore and develop the Homestake Ridge Property to its full potential, including the ability to secure senior financing on commercial terms as may be needed to further develop the Property. Bravo has on hand sufficient capital to fund the commencement of the 2008 exploration program scheduled to begin in July 2008."

The Homestake Ridge project, located 32 km southeast of Stewart, B.C., consists of Mineral Title and Crown Grant claims totaling 2,725 ha. In the 2008 exploration season Bravo plans an aggressive drilling program of approximately 7,500 metres designed to further expand and evaluate the existing resource and to develop resources at several exploration areas discussed below.

In March 2007 Bravo announced an Inferred Resource estimate at the Main Homestake zone of 903,231 ounces of gold and 5,745,746 ounces of silver contained within 11.9 million tonnes with an average grade of 2.36 g/t Au and 15.0 g/t Ag using a cut-off grade of 0.5 g/t gold (see NR-04-07). (1) Drilling through 2007 has tested a 600 metre strike length of the mineralized horizon to depths of over 600 metres. The deposit remains open down dip and along strike to the southeast and northwest. A long section showing the location of completed drill holes has been posted on the company's website www.bravoventuregroup.com.

Drilling in 2008 will test extensions of the deposit, particularly to the northwest. Several holes will also explore for possible bonanza-grade feeder faults beneath the known stratabound mineralization.

In addition to the Main Homestake zone, additional targets have been identified along the mineralized horizon for over 3,000 metres of strike length. Two such targets, the Homestake Silver and Vanguard Gold zones, returned encouraging results from initial drilling during 2007 and will be further tested by drilling in 2008.

At the Vanguard Gold zone, located 2,200 metres to the southeast of the Main Homestake zone, 2007 drill results returned encouraging assays including a 1.05 metre interval grading 5.21 g/t Au within a broader 38.88 metre interval grading 0.60 g/t Au. Similar values were reported from Bravo's initial drilling at the Main Homestake zone in 2003, suggesting potential to develop another significant near-surface lens of mineralization at the Vanguard Gold zone.

Highlights from 2007 holes at the Homestake Silver zone, located only 400 metres southeast of the Main Homestake zone, include: a 0.69 metre interval grading 2.4 g/t Au and 891.8 g/t Ag within a broader 17.9 metre interval grading 0.27 g/t Au and 66.4 g/t Ag in drill hole HR07-78 and three mineralized intervals from drill hole HR07-76 grading 24.5 g/t Ag over 6.6 metres, 63.6 g/t Ag over 10.5 metres and 15.9 g/t Ag over 10.5 metres, which all occur within a 101.1 metre interval grading 14.5 g/t Ag. All intercepts are reported as estimated true thicknesses.

The Vanguard Gold zone, the Homestake Silver zone and the northwest extension of the Main zone are significant as they highlight the district-wide mineral potential of the Homestake Ridge project. Several other target zones have been identified, including the Vanguard Copper zone, where historical sampling of high-grade surface exposures in altered volcanic rock returned assays from chip and channel samples grading from 4.4% to 13.4% copper, 119 g/t to 296 g/t silver and 0.2 g/t to 3.8 g/t gold (2). An initial drill test of this zone is planned during the 2008 season.

The property consists of located mineral claims and Crown Grant mineral claims in which a 100% interest was earned by Bravo from Teck Cominco and a private Optionor, respectively. On portions of the located mineral claims there is a 2% NSR royalty in favour of Teck Cominco and on other portions of the located mineral claims there is a 2% NSR royalty in favour of the original Optionor. Bravo has the right to purchase 1% of the Teck Cominco royalty for $1 million and 1% of the original Optionor's royalty for $1 million. The balance of the Property consisting of Crown Granted mineral claims in which Bravo has earned a 100% interest, subject to a 2% NSR royalty.

About Bravo Venture Group Inc.

Bravo Venture Group Inc. is focused on exploring precious and base metal-rich projects within North America, currently with properties in Nevada, Alaska, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. The Woewodski Island project in southeast Alaska hosts both precious and base metal-rich massive sulphides and gold-rich orogenic quartz veins. The Homestake Ridge project is a gold-rich epithermal/VMS-related vein system within Eskay Creek/Silbak-Premier stratigraphy.

To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/0403bvg.jpg

Rob Macdonald (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.

(1) An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Due to the uncertainty which may attach to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred Mineral Resources must be excluded from estimates forming the basis of feasibility or other economic studies (43-101CP, CIM, 2001).

(2) Assays from the Vanguard Copper zone are from historical sampling on the property by Teck Cominco Ltd. prior to the Bravo option. Bravo has not independently verified these assay results, but has no reason to doubt the reliability of the data.

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.

For more information, please contact
Bravo Venture Group Inc.
Jay Oness
1-888-456-1112 or (604) 684-9384
Email: corpdev@mnxltd.com
Website: www.bravoventuregroup.com
Click here to see all recent news from this company
s release, which has been prepared by management.

For more information, please contact
Bravo Venture Group Inc.
Jay Oness
1-888-456-1112 or (604) 684-9384
Email: corpdev@mnxltd.com
Website: www.bravoventuregroup.com
Click here to see all recent news from this company
 

 

auf ein gute beobachtung..........  

Das Konzessionsgebiet Homestake Ridge umfasst nun insgesamt 3.617 Hektar, während das Projekt Kinskuch nun eine Fläche von 64.590 Hektar einnimmt. Im Rahmen des umfassenden Explorationsprogramms 2013, dessen Planungen in den kommenden Wochen abgeschlossen werden, werden bei den neuen Claims bei Kinskuch Explorationsarbeiten durchgeführt werden.  

Homestake RidgeProjekt Kinskuch
Homestake Resource Corporation
Homestake Resource Corporation ist ein kanadisches Explorationsunternehmen, das sich der Steigerung seines Unternehmenswerts mithilfe einer erfahrenen Unternehmensleitung, die ihre Fähigkeit, Gold- und Silberkonzessionsgebiete zu identifizieren, zu explorieren und zu erschließen, erfolgreich bewiesen hat, verschrieben hat.

Das wichtigste Projekt des Unternehmens, das eine Fläche von 2.585 Hektar umfasst, ist das zu 100% unternehmenseigene Projekt Homestake Ridge  in British Columbia, ein goldreiches epithermales Adersystem des VMS-Typs innerhalb der Eskay Creek-Stratigraphie, das aufgrund von hervorragenden Bohrergebnissen rasch voranschreitet. Seit 2003 hat Homestake Resource Erkundungs- und Abgrenzungsbohrungen mit einer Gesamtlänge von über 58.736 Metern beim Konzessionsgebiet niedergebracht. 2011 hat das Unternehmen bei einem Cutoff-Gehalt von 3,0 g/t Goldäquivalent in zwei separaten Lagerstätten eine aktualisierte NI 43-101-konforme Ressourcenschätzung mit 191.000 Unzen Gold und 1.350.000 Unzen Silber in der angezeigten Kategorie sowie 530.000 Unzen Gold und 13.470.000 Unzen Silber in der abgeleiteten Kategorie gemeldet(1).

Vor kurzem hat das Unternehmen seinen Grundbesitz in dieser Region durch den Erwerb des Projekts Kinskuch, das eine Fläche von 59.600 ha in direkter Nachbarschaft zum Projekt Homestake Ridge einnimmt, wesentlich vergrößert. Das Projekt umfasst mehrere höchst aussichtsreiche Explorations- und Bohrziele, die in einer ähnlichen stratigraphischen Schicht wie das Projekt Homestake Ridge liegen. Homestake Resource beabsichtigt, im Laufe von 2011 bei einigen dieser Ziele ein offensives geophysikalisches Oberflächenexplorations- und Bohrprogramm durchzuführen.

Homestake Resource Corporation verfügt ebenfalls über eine hundertprozentige Beteiligung am Projekt Silver Basin, welches 14 km südöstlich des Projekts Homestake Ridge liegt. Das Projekt Silver Basin besteht aus einem einzelnen zusammengeschlossenen Claim mit einer Fläche von 760 Hektar. Dem Projekt liegen Vulkan- und Sedimentgesteine der Hazelton-Gruppe zugrunde, welche dasselbe aussichtsreiche stratigraphische Schichtenprofil aufweisen, das die überaus reichhaltige Mine Eskay Creek weiter im Norden beherbergt.

Die Projekte des Unternehmens in Nevada, die strategisch innerhalb der Goldtrends Battle-Mountain/Eureka, Walker Lane, Northern Nevada Rift, Austin und Kings River Rift gelegen sind, wurden in Bravada Gold Corp. ausgegliedert. Homestake Resource Corporation hält eine Beteiligung von 9.76 Prozent an Bravada Gold Corp.

Homestake Resource Corporation gehört zur Manex Resource Group, einem privaten Unternehmen. Die Manex Resource Group verfügt über ein ungewöhnliches, interdisziplinäres Team an Experten mit besonderen Fachkenntnissen in allen Bereichen der Exploration, Erschließung und Unternehmensleitung.

(1)    Die aktuelle Schätzung für die Lagerstätte Homestake Silver wurde unter Anwendung eines 2D-Blockmodells, das sich aus Blöcken mit Ausmaßen von 10 m mal 10 m zusammensetzt, die wiederum als vertikale Längsfortsätze ausgerichtet sind, angefertigt. Es wurden Modelle für neun individuelle, parallel verlaufende Zonen angefertigt, die jeweils einen erkennbaren erzführenden Horizont innerhalb der Lagerstätte Homestake Silver darstellen. Die Menge des angehäuften Metalls (Gehalt mal Mächtigkeit) für Gold und Silber sowie die wahre Mächtigkeit wurden anhand der ?Inverse Distance to Third Power (ID3)?-Gewichtung in die Blöcke eingerechnet. Die Gold- und Silbergehalte wurden mittels der Division der geschätzten Menge des angehäuften Metalls in den Blöcken durch die geschätzte wahre Mächtigkeit zurückberechnet. Die Interpolationen wurden in zwei Arbeitsgängen ausgeführt; der erste wandte eine Maximalsuchweite von 100 m mit einer Mindestanforderung von 2 Bohrlöcher an, während der zweite Arbeitsgang eine Reichweite von 75 m und mindestens ein Bohrloch ansetzte. Das Volumen der Blöcke wurde anhand der Multiplikation der Fläche (z.B. 100 m2) mit der geschätzten wahren Mächtigkeit berechnet. Die Rohdichten beruhen auf insgesamt 821 Messungen, die vom Homestake Resource Corporation-Personal vor Ort bei den erzführenden Zonen durchgeführt wurden. An Stellen, wo ausreichend Messungen vorlagen, wurde die Durchschnittsdichte für die individuellen Zonen berechnet. Diese Werte reichten von 2,60 t/m3 bis 2,81 t/ m3. Bei Zonen, für die nur unzureichend Messungen zur Bestimmung eines verlässlichen arithmetischen Mittels vorlagen, wurde eine Dichte von 2,75 t/m3 ? der Durchschnitt des gesamten Datenbestands ? verwendet. Hochhaltige Untersuchungsergebnisse wurden bei 50 g/t Au und 1.500 g/t Ag vor der Datenzusammensetzung gekappt. Die Schätzung für die Lagerstätte Homestake Silver fällt komplett in die abgeleitete Ressourcenkategorie. Blöcke wurden als abgeleitet qualifiziert, wenn sie innerhalb von 75 m eines Bohrabschnitts lagen. Für die Lagerstätte in der Zone Main Homestake wurde keine aktualisierte Schätzung der Ressource von 2010 angefertigt. Für detaillierte Parameter konsultieren Sie bitte die Pressemitteilung NR-10-05  

Hoffen wir mal das BESTE!!  

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/02/14 -- Homestake Resource Corporation (TSX VENTURE: HSR)(FRANKFURT: B6IH) ("Homestake" or the "Company") is pleased to announce the appointment of Jeff Tindale as a director. Mr. Tindale has extensive experience in raising capital in North America and Europe, corporate development, project acquisitions, and strategic planning. Mr. Tindale has been Managing Partner of a private consulting group providing advisory services to numerous private and public companies since 2006. He has a diversified background including founding successful private enterprises and over eight years in the exploration field, exploring for diamonds and precious metals where he was a part of major economic discoveries.

Mr. Tindale has filled a vacancy on the board of directors created by the resignation of Nazlin Rahemtulla. Homestake thanks Ms. Rahemtulla for her service as a director and wishes her well in her future endeavours.

Homestake Ridge Project Update

Camp mobilization continues toward the start of the 2014 Exploration Program on the Company's 100% owned Homestake Ridge property in Northwestern BC. The program is expected to include +7,500 meters of core drilling and is budgeted at a cost of $3 million. Camp construction is nearly complete and drilling is expected to commence in early July.

Agnico Eagle Mines Limited ("Agnico Eagle") can earn up to 65% interest in the project with staged expenditures of $25.3 million at the Homestake Ridge Property. Agnico Eagle is in the third year of the six year option having spent approximately $4.3 million to date.

Drilling will start on a newly discovered mineralized zone called the Slide target, first identified in 2013 and located southeast of the Homestake Silver deposit (see news release NR-10-13, November 25, 2013). Agnico Eagle plans an initial six drill holes on the Slide target (see Figure 1) which will test areas along strike and down dip of hole HR13-253, which as reported in NR-10-13 contains a 18.6 metre interval averaging 101g/t silver, including a 0.5 metre interval averaging 1,675g/t silver from 364.4 to 383.0 metres down hole (the true thickness has not been determined yet).

Figure 1: Longitudinal section showing approximate targeting for the first six proposed drill holes on the Slide target at the Homestake Ridge property. http://media3.marketwire.com/docs/955294e.pdf.

Further drilling is also anticipated on several other targets throughout the property including up to two holes to test "Eskay-equivalent" stratigraphy in the upper Hazelton Group exposed to the east and south of the Homestake Silver deposit.

Kinskuch Project Update

At the Kinskuch property this season, the Company is planning to drill three or four holes at the Illiance River target in order to extend high-grade silver and base metal mineralization encountered on surface and in drilling by the Company during the 2011 field season. Field work also is planned to develop sites for drill tests of several other targets. The 100% optioned Kinskuch Property (62,500ha) lies south of, and partially contiguous with, the Homestake Ridge property.

About Homestake Resource Corporation

Homestake owns a 100 percent interest in the Homestake Ridge project, located in the Kitsault Mineral district in northwestern British Columbia, subject to various royalty interests held by vendors. The project is being advanced as a potential high-grade underground mining operation. At an $85 NSR cut-off value and based on drilling completed through 2012, the project contains an estimated Indicated Resource of 124,000oz gold and 939,000oz silver (141,000oz AuEq @ 7.3g/t AuEq grade) plus an Inferred Resource of 911,000oz gold and 20,366,000oz silver (1,225,785oz AuEq @ 5.6g/t AuEq grade) in three deposits(1). Visit the Company website to read how the Homestake Ridge resource estimate compares to gold deposits worldwide, as ranked by Natural Resource Holdings (June 2012).

To date, 262 holes were drilled for a total of 74,973 metres, and multiple exploration targets remain to be tested on the large 3,617-hectare property. Agnico Eagle Mines Limited has assumed project management since January 2013 under the option agreement to fund exploration and development costs on the property.


1.  The current estimate was prepared by Roscoe Postle Associates Inc.
   (RPA). Mineral Resources utilize three separate block models constrained
   by 3D wireframes of the mineralized zones. Mineral Resources were
   constrained using a 2g/t AuEq grade shell and CIM definitions were
   followed for Mineral Resources. The block models are comprised of an
   array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, Cu,
   AuEq and NSR values interpolated using ID3 weighting. The models
   identified an indicated resource of 604,000 tonnes averaging 6.4g/t Au,
   48.3g/t Ag and 0.18% Cu and a cumulative inferred resource of 6,765,000
   tonnes averaging 4.2g/t Au, 93.6g/t Ag, 0.11% Cu. Mineral Resources are
   estimated using an average long-term gold price of US$1,500 per ounce
   Au, US$27 per ounce Ag, and US$3.50 per pound Cu, with an exchange rate
   of C$1.00=US$1.00. NSR and Gold equivalence were calculated using Au, Ag
   and Cu metallurgical recoveries of 92% Au, 88% Ag and 88% Cu in blocks
   where Cu%greater than 0.1%; and where calculated using just Au and Ag
   recoveries in blocks with less than 0.1% Cu.

   David Rennie (P. Eng.) is the Principal Geologist for Roscoe Postle
   Associates Inc. and is the Independent Qualified Person responsible for
   preparation and review of the Mineral Resource Estimate.

   Homestake Resource Corporation is unaware of any legal, political,
   environmental or other risks that could materially affect the potential
   development of the mineral resource.

Robert Macdonald, MSc., PGeo., is Homestake's Vice President of Exploration and is the Qualified Person responsible for the supervision and preparation of the technical information in this disclosure.

On behalf of the Board of Directors,

Joseph Anthony Kizis, Jr., President & Director, Homestake Resource Corporation

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Homestake Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

Contacts:
Homestake Resource Corporation
Joseph Anthony Kizis, Jr.
President & Director
604-684-9384
info@mnxltd.com
www.homestakeresource.com
 

Die Zeichen stehen auf grün !  

Man sollte die Ressourcen und schätze dieser Unternehmung nicht unterschätzen ;)  

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/21/14 -- Homestake Resource Corporation (TSX VENTURE: HSR)(FRANKFURT: B6IH) ("Homestake" or the "Company") reported today that drilling has commenced on the Company's 100% owned Homestake Ridge property in Northwestern BC. The 2014 exploration program is being conducted by Agnico Eagle Mines Limited (TSX: AEM)(NYSE: AEM) ("Agnico Eagle") and is expected to include +7,500 meters of core drilling budgeted at a cost of $3 million. Agnico Eagle has assumed project management under an option agreement to fund exploration and development costs of $25.3 million by December 31, 2017 to earn a 65% interest in the property. Agnico Eagle is in the third year of the six year option.

Drilling is underway on a newly discovered mineralized zone called the Slide target, first identified in 2013 and located southeast of the Homestake Silver deposit (see news release NR-10-13, November 25, 2013). An initial six drill hole program is planned on the Slide target, which will test areas along strike and down dip of hole HR13-253 (see Figure 1).

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/0721HSR.pdf

President Joe Kizis commented, "We look forward to an aggressive drilling campaign at Homestake Ridge this field season. It follows up on a new mineralized zone discovered last year, as well as includes significant step outs from our known deposits that could potentially add to the current NI 43-101-compliant resource. Having a strategic partner like Agnico Eagle in these difficult times allows the company to aggressively advance our project to create additional shareholder value."

The Homestake Ridge project is being advanced as a potential high-grade underground mining operation. The project contains an estimated Inferred Resource of 911,000oz gold and 20,366,000oz silver (1,225,785oz AuEq @ 5.6g/t AuEq grade) and an estimated Indicated Resource of 124,000oz gold and 939,000oz silver (141,000oz AuEq @ 7.3g/t AuEq grade).(1)

To date, 262 holes have been drilled for a total of 74,973 metres, including the project's highlight intercept from the 2008 drill hole HR08-87, which returned an estimated true width intercept of 52.5 metres averaging 20.99 g/t gold and 11.60 g/t silver (See Oct. 02, 2008 press release).

Corporate Update

Homestake plans to issue up to 15,000,000 units in a non-flow-through private placement at a price of $0.05 per unit for gross proceeds of $750,000. Each unit consists of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share at an exercise price of $0.05 for a period of 3 years. The Company will pay finders' fees on a portion of the financing. The securities will be subject to a hold period of four months from date of closing.

The net proceeds from this private placement will be used for the continued exploration of the Kinskuch Project and for general working capital purposes. The proposed financing is subject to the approval of the TSX Venture Exchange.

For further information, please visit the company's website at www.homestakeresource.com.

Robert Macdonald, MSc., PGeo., is Homestake's Vice President of Exploration and is the Qualified Person responsible for the supervision and preparation of the technical information in this disclosure.

On behalf of the Board of Directors,

Joseph Anthony Kizis, Jr., President & Director, Homestake Resource Corporation

About Homestake Resource Corporation

Homestake Resource Corp. is a Canadian-based exploration company which operates two major projects totaling 661 sq. km in the emerging Kitsault Mineral District. The primary asset is the Homestake Ridge Project, a gold-rich epithermal/VMS-related vein system containing NI 43-101 compliant resource estimates. The Company has entered into an option with Agnico Eagle Mines Limited to fund exploration and development costs of $25.3 million by December 31, 2017 to earn a 65% interest in the property. Homestake Resource Corp. is affiliated with Manex Resource Group, a private company comprised of an exceptional multi-disciplinary team of professionals, with specific expertise in all the areas of exploration, development and public company administration.


1.  The current estimate was prepared by Roscoe Postle Associates Inc. (RPA)
   utilizing three separate block models constrained by 3D wireframes of
   the mineralized zones. Mineral Resources were constrained using a 2g/t
   AuEq grade shell and CIM definitions were followed for Mineral
   Resources. The block models are comprised of an array of blocks
   measuring 5 m x 5 m x 5 m, with grades for Au, Ag, Cu, AuEq and NSR
   values interpolated using ID3 weighting. The models identified an
   indicated resource of 604,000 tonnes averaging 6.4g/t Au, 48.3g/t Ag and
   0.18% Cu and a cumulative inferred resource of 6,765,000 tonnes
   averaging 4.2g/t Au, 93.6g/t Ag, 0.11% Cu. Mineral Resources are
   estimated using an average long-term gold price of US$1,500 per ounce
   Au, US$27 per ounce Ag, and US$3.50 per pound Cu, with an exchange rate
   of C$1.00=US$1.00. NSR and Gold equivalence were calculated using Au, Ag
   and Cu metallurgical recoveries of 92% Au, 88% Ag and 88% Cu in blocks
   where Cu%greater than 0.1%; and where calculated using just Au and Ag
   recoveries in blocks with less than 0.1% Cu.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Homestake Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

Contacts:
Homestake Resource Corporation
Joseph Anthony Kizis, Jr.
President & Director
+1 (604) 684-9384
+1 (604) 688-4670 (FAX)
info@mnxltd.com
www.homestakeresource.com
 

 

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