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Bravada Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants and Updates Wind Mountain Program
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2022) - Bravada Gold Corporation (TSXV...
About this update from Bravada Gold Corporation
[{"type":"text","content":"Bravada Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants and Updates Wind Mountain ProgramVancouver, British Columbia--(Newsfile Corp. - June 30, 2022) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the \"Company\" or \"Bravada\") reports that the Company will be extending the exercise period of a total of 6,434,000 share purchase warrants, all of which are exercisable at $0.12 per share (collectively, the \"Warrants\"). The Warrants were issued on July 23, 2018, pursuant to a private placement (see news release NR-07-18) and are scheduled to expire on July 23, 2022. The Company proposes to extend the expiry by one (1) year, and accordingly, the new expiry date for the warrants will be July 23, 2023.All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.Wind Mountain Program UpdateBravada's two-pronged approach to adding value at its wholly owned Wind Mountain gold/silver project in Nevada is progressing as planned after minor delays due to contractor availability.Thirteen reverse-circulation (RC) holes were drilled during 2021 to in-fill a shallow, under-drilled portion of the existing resource with results successfully demonstrating higher-grade concentrations of gold and silver. A resource update is underway and will form the basis of a Preliminary Economic Assessment (PEA) for a Phase 1 \"Starter Pit\" with studies to be released in early Q3 2022. This part of the program should upgrade the quality of shallow mineralization already discovered.Renewed RC drilling at Wind Mountain is expected to begin on July 5th or 6th. Three or four holes, approximately 4,000' (1,200m), are planned from newly permitted drill sites to test beneath a zone of banded quartz veins intersected in December 2020 and followed up along strike in mid-2021. The vein zone is interpreted as a potentially important zone of upwelling, referred to as a feeder zone. Evidence includes the first banded quartz veins intersected in hole WM20-102, which intersected 1.5 metres of 269.0g/t Ag and 0.404g/t Au within a thicker interval of banded quartz veining together with anomalous gold and silver. Four 2021 holes traced the banded vein zone beneath mine waste and gravel cover for approximately 330 metres, but the holes shallow...