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Bravada's Drill Permit Approved for the Quito Gold Property, Nevada
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2018) - Bravada Gold Corporation (TSX...
About this update from Bravada Gold Corporation
[{"type":"text","content":"Bravada's Drill Permit Approved for the Quito Gold Property, NevadaVancouver, British Columbia--(Newsfile Corp. - March 2, 2018) - Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) (FSE: BRTN) (the \"Company\" or \"Bravada\") has received, subject to posting a reclamation bond, approval of its drilling permit from the U.S. Forest Service for the Company's Quito Gold property, which is located along the Austin Gold trend in central Nevada. The permit allows four sites to be drilled at the Quito Extension target in 2018. Multiple holes can be drilled from these sites. The Quito Extension target was developed by 3D computer modeling of historic drill-hole assays and surviving blast-hole data. The model shows a strong southeasterly plunge to the highest-grade gold mineralization, much of which assayed 15g/t Au in the Quito pit and in limited underground workings. The Company plans to drill 4 to 6 holes for a total of 1,600m beginning in the third quarter of 2018 with the intent to test the down-plunge extension of the high-grade mineralization, which occurs at the intersection of two mineralized faults. Other targets were also advanced to a drill-ready stage and are being prepared for permitting.Quito Extension Target - Rotated ViewCannot view this image of the Quito Extension Target - Rotated View? Please visit [http://orders.newsfilecorp.com/files/5343/33274_a1520014718508_41.jpg] to view this imageThe geological setting at Quito resembles many of Nevada's largest and richest Carlin-style gold deposits. Mineralization is concentrated in Paleozoic-age carbonate sediments, with the highest grades being associated with fault intersections along the axis of a property-scale anticline. The property consisting of 342 lode claims (~2,700 hectares), and from 1986 through 1989, Quito reportedly produced 174,460 ounces of gold at a grade of 5.92 grams per ton (g/t) from a deposit consisting of 1.7 million short tons at an average gold grade of 6.34 g/t. Note that Bravada has not independently confirmed either the past production or any possible remaining resources, and these historic figures should not be relied upon.Bravada can earn a 70% interest in the Quito project by conducting US$2.5MM in work expenditures by 2020, of which approximately 50% has been spent to date and with additional work expenditures not becoming due until 2019. Wi...