VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2011) - Bravada Gold Corporation (TSX VENTURE:BVA)(FRANKFURT:BRT) ("the Company") is pleased to report assays from five new reverse-circulation holes, all drilled within the existing resource in order to test areas given low or no value due to a lack of previous drilling. Hole WM11-063 is particularly encouraging, having intersected 54.9 metres from surface averaging 0.456g/t Au and 18.0g/t Ag (0.712g/t Au-eq @ 70Ag:1Au), with the uppermost 27.4m averaging 0.600 g/t Au and 21.0 g/t Ag (0.901g/t Au-eq).
Bravada has now drilled 50 holes for a total of 4108.5 metres, completing this phase of drilling. Metallurgical, geological, and archaeological studies will continue over the next few months. Assays for 13 additional holes are still pending. An updated resource and Preliminary Economic Assessment are expected to be completed during the first quarter of 2012.
President Joe Kizis commented, "We have completed the minimum drilling program necessary to accomplish our goals for this phase. Those goals were to discover additional shallow oxide mineralization, to test for extensions of mineralization adjacent to the open pit modelled during our previous PEA, and to test portions of the existing resource that were not given significant grades due to a lack of drilling. Our success in this program combined with increased precious metal prices indicates that we will see a significant increase in our resource and a much improved PEA."
The program was successful in discovering shallow oxide mineralization at the South End, the North Hill, and the South Wind Pit exploration targets (see accompanying map). Results for the North Breeze Pit exploration target are pending. New mineralization was discovered within the existing resource area adjacent to the south-eastern and southern margins of the Wind Pit and internal to the existing resource. Results of in-fill drilling within the Breeze portion of the existing resource are pending.
| 2011 Wind Mountain Drill Intercepts |
| Hole # | Orientation | T.D. (m) | From (m) | To (m) |
Interval (m) | Au (g/t) | Ag (g/t) | Au-eq (70:1) | Comments | |
| Wind Pit - Resource Infill | ||||||||||
| WM11-060 | -90 | 91.4 | 0.0 | 33.5 | 33.5 | 0.254 | 8.8 | 0.379 | ||
| 47.2 | 76.2 | 29.0 | 0.280 | 10.8 | 0.435 | |||||
| WM11-061 | -90 | 91.4 | 9.1 | 12.2 | 3.0 | 0.320 | 7.3 | 0.424 | ||
| 39.6 | 74.7 | 35.1 | 0.268 | 8.9 | 0.394 | |||||
| WM11-062 | -90 | 91.4 | 0.0 | 71.6 | 71.6 | 0.336 | 12.0 | 0.507 | ||
| WM11-063 | -90 | 182.9 | 0.0 | 54.9 | 54.9 | 0.456 | 18.0 | 0.712 | 0-27.4m=0.600g/t Au, 21.0g/t Ag, 0.901g/t Au-eq | |
| 70.1 | 109.7 | 39.6 | 0.250 | 13.3 | 0.440 | |||||
| WM11-064 | -80, 260 | 161.5 | 0.0 | 65.5 | 65.5 | 0.269 | 8.5 | 0.391 | ||
| 88.4 | 97.5 | 9.1 | 0.161 | 13.2 | 0.349 | |||||
| Intercepts calculated +0.2g/t Au &/or +10g/t Ag combined, intervals of +0.3g/t Au-eq reported. Nothing above or below intercept included if <0.3 Au-eq & no barren intervals >6m included internally. |
| True thicknesses are estimated to be 70-90% in bedding replacement; however, geometry uncertain adjacent to high-angle faults. |
| A ratio of 70Ag:1Au is used to reflect expected lower recoveries of Ag relative to Au, although detailed metallurgy has not been completed. |
To view the map associated with this press release, please visit: http://media3.marketwire.com/docs/bva-0921-map1.pdf.
About Bravada Gold Corporation
Bravada Gold Corporation is a member of the Manex Resource Group of companies with an exploration office in Reno, Nevada from which it is exploring its extensive (22 properties covering over 20,000 hectares) Carlin-type and low-sulfidation-type gold holdings strategically located within numerous productive gold trends in Nevada. The Company has several projects available for joint venture with qualified groups.
Joseph Anthony Kizis, Jr. (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis Jr., Director, President, Bravada Gold Corporation
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. Bravada Gold 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.
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.
Contact Information:
Liana Shahinian
604.641.2773 or Toll free at 1.888.456.1112
liana@mnxltd.com
www.bravadagold.com