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Be the first with the news that moves the market- Exploration company Bravada Gold (BVA) has received final approval for a drill program at its Highland gold-silver project in Nevada
- The permit allows for drilling on 12 sites over a period of two years, which may be extended
- Two drill holes have been planned at the Big Hammer target in the eastern portion of the project, with a drill rig expected to arrive by mid-August
- The exploration program is funded by OceanaGold US, a wholly owned subsidiary of OceanaGold, which has an option to earn up to a 75 per cent interest in the Highland project
- Bravada Gold (BVA) is currently steady at C$0.17 per share
Exploration company Bravada Gold (BVA) has received final approval for a drill program at its Highland gold-silver project in Nevada.
Located in the prolific Walker Lane gold trend, the low-sulfidation-type project covers a total of approximately 1,070 hectares and consists of 102 Federal lode claims.
Previous drilling efforts at the Highland project by the company’s US-based subsidiary intersected vein zones with high-grade intercepts, including 1.5 metres at 66.9 grams per tonne of gold and 397.7 grams per tonne of silver.
The recently received permit allows for drilling on 12 sites over a period of two years, although this may be extended.
Two core holes have been planned for the Big Hammer target, which sits on the eastern portion of the property, and a drill rig is expected to arrive in early to mid-August.
The exploration program is fully funded by Bravada’s joint venture partner, OceanaGold US, a wholly owned subsidiary of OceanaGold, which may earn up to a 75 per cent interest in the Highland project by assuming a total of C$13.51 million in exploration expenses.
Separately, Bravada announced that it has evaluated a number of next-step techniques to further refine the Feeder target at its wholly owned Wind Mountain project roughly 160 kilometres northeast of Reno.
As such, it has been decided that a fence of angled reverse-circulation drill holes across the centre of the target area would be the most cost-effective.
It’s expected that 3D modelling will be completed in the near future with Bravada’s existing permit to be modified to include the new drill sites. This work has been planned for later this year.
Bravada Gold (BVA) is currently steady at 17 cents per share at 2:43pm EDT.
