Bravura Ventures Corp. (CSE: BVQ) (OTC: BRVVF) (FRA: 23B) wishes to announce it has entered into a LOI dated August 9, 2017 to acquire 100% of the approximately 1200 hectare Kahuna Cobalt-Silver Property located 37km south of Cobalt, Ontario.
“This transaction increases our land position in an important mining camp and also achieves two objectives. First, we have established a meaningful land position that specifically focuses on rich cobalt deposits. Second, we have improved the overall quality of cobalt showings in our portfolio.”
About the Kahuna Cobalt Property:
The Kahuna Cobalt property is located 14 km northeast of the town of Temagami and 37km south of the town of Cobalt near the eastern border of Ontario. The district is mining friendly having a rich history of cobalt and silver production.The epicentre of past producing cobalt mines in Ontario.
Property Status and Configuration
The Kahuna Cobalt property is comprised of 77 claim units and covers approximately 1,200 ha.
Access and Infrastructure
The Property is accessible by boat from Lorrain Lake which is accessed by 12 km of well maintained gravel surface roads off of leaving a major paved highway connecting the nearby town of Temagami and New Liskeard. The property is located 12 km from rail and power distribution lines.
Cobalt and silver mineralization occurs in calcite veins within the Nipissing Diabase as erythrite and native silver.
Friday Mines Limited operated the property in the 1920’s sinking a shaft and drifting on a 10 inch wide calcite vein with cobalt mineralization producing cobalt ore. In the 1960’s, Gibson Mines Limited explored the property and found cobalt and silver mineralization. More recently, in 1998 a portion of the property was staked a small soil survey reported anomalous cobalt and gold in the soil.
Bravura plans to acquire 100 per cent of the Kahuna property in a share exchange agreement in consideration for:
“The Ontario Cobalt area, we feel is the most prolific Cobalt area in all of Canada. We look to focus our resources and make further acquisitions, while developing existing assets to increase our shareholder value focused in this region.”
Mike Waldegger, P.Geo, is the qualified person as defined in NI 43-101, that has reviewed and approved the contents of this press release.
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