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Bravada Gold, Projects Overview/Update; Applies to Extend Closing of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 31, 2023) - Bravada Gold Corporation ...
About this update from Bravada Gold Corporation
[{"type":"text","content":"Bravada Gold, Projects Overview/Update; Applies to Extend Closing of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 31, 2023) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the \"Company\" or \"Bravada\") reports that the Company has requested a 30-day extension, subject to Exchange approval, to close the previously announced non-brokered private placement Projects Update/OverviewBravada is a junior exploration company focusing on gold, and to a lesser extent, silver in Nevada, one of the most attractive jurisdictions in which to explore, develop, and mine in the world. Five of the Company's 10 Nevada projects are reviewed below.Baxter Au/Ag Project - Earn-in Option Agreement Signed with Endeavour SilverEndeavour Silver owns the adjacent Bruner past-producing gold property and will need to complete $4,000,000 in work to earn into Bravada's Baxter property, which should further delineate a shallow oxide gold deposit on the property and could potentially form an add-on to Endeavour Silver's Bruner project. In addition, Bravada will be carried to production, with payback from its percentage of production, essentially eliminating much of the risk of being a minority JV partner.Wind Mountain Au/Ag Project - 2022 PEA for a Phase I operation demonstrated positive economicsFigure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5343/179155_a2a7641534c40b46_001full.jpgWe feel that our Wind Mountain project is near the upper part of value curve (requiring more specialized input from engineering, metallurgy, permitting, and financing) to the Company and that shifting our exploration expenditures to our other projects, while investigating a possible partnership or sale with an established mining company, would minimize the typical risk-related trough in value and accelerate the Company's longer upturn in value. There is certainly more exploration to do at Wind Mountain, so our preference is to find a partner that would begin the phased mining approach that our recent PEA demonstrated would be a relatively small, but high-margin gold mining operation. Despite the uncertainty in the economy and downturn in market conditions, we continue to have discussions with a number of groups that have the appropriate skill sets to put Wind M...