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Bravada Announces Increase to Equity Financing

 

 

 

 

 

Bravada Gold Corporation (TSX-V: BVA) (OTCQB: BGAVF) announces that it is increasing the recently announced private placement from $500,000 to $800,000. The Company now plans to issue up to 8,000,000 units in the non-brokered private placement at a price of $0.10 per Unit to raise $800,000. Each Unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.15 per share.

 

 

Net proceeds from the private placement will be used: a) to drill 2-3 proof-of-concept holes at the Wind Mountain property to test for high-grade “Hishikari-type” gold-silver mineralization at the unconformity between Mesozoic metasediments & Tertiary volcanic rocks; and b) for working capital. Bravada will make a provision for an over-allotment option (Greenshoe) to allow a purchase of up to 10% additional units beyond the number of units in this Offering. Finders’ fees and commissions may be paid by the Company in relation to the units sold in this Offering.

 

 

About Wind Mountain

 

 

The Wind Mountain Property is in northwestern Nevada approximately 160km northeast of Reno in a sparsely populated region with excellent logistics, including county-maintained road access and a power line to the property. It is an historic past-producing, bulk-tonnage gold-silver mine. An independent resource estimate and Preliminary Economic Evaluation for Wind Mountain commissioned by Bravada in 2012 reported:

 

  • 570,000 ounces of gold and 14.7 million ounces of silver in the Indicated category, and
  • 354,000 ounces of gold and 10.1 million ounces of silver in the Inferred category.

 

 

See the table below and news release NR-06-12 dated April 11, 2012 for details of the resource update. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be classified as mineral reserves. There is no assurance that any part of the resources will ultimately be converted to mineral reserves.

 

 

 

  Tons oz Au/T oz Ag/T Tonnes gms Au/T gms Ag/T oz Au oz Ag
Indicated resource              
Oxide at 0.005 oz Au/ton cut off            
  58,816,000 0.010 0.25 53,372,051 0.343 8.6 564,600 14,539,000
Mixed/Sulfide at 0.01 oz Au/ton cut off            
  498,000 0.012 0.40 451,906 0.411 13.7 5,900 197,000
Total 59,314,000     53,823,956     570,500 14,736,000
 
Inferred resource              
Oxide at 0.005 oz Au/ton cut off            
  19,866,000 0.006 0.17 18,027,223 0.206 5.8 125,200 3,443,000
Mixed/Sulfide at 0.01 oz Au/ton cut off            
  14,595,000 0.016 0.46 13,244,102 0.549 15.8 229,100 6,672,000
Total 34,461,000     31,271,325     354,300 10,115,000

 

 

 

 

Mine Development Associates compiled the Technical Report and PEA. Thomas Dyer, P.E. is a Senior Engineer for MDA and is responsible for sections of the Technical Report involving mine designs and the economic evaluation, and Steven Ristorcelli, C.P.G., is a Principal Geologist for MDA and is responsible for the sections involving the Mineral Resource estimate. These are the Qualified Persons of the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Economic Analyses of Mineral Projects. Details of the PEA produced by Mine Development Associates (MDA) of Reno can be found on SEDAR, as previously reported (see NR-07-12 dated May 1, 2012). Note that although the PEA was encouraging, it is preliminary in nature, it includes Inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized.

 

 

About Bravada

 

 

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. During the past 12 years the Company has successfully identified and advanced properties that have the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Currently, four of its Nevada properties are being funded by partners.

 

 

For more information on the Company and to request documents for the offering, please visit the link below:

 

http://issuer.direct/projects/bravada-gold/

 

Posted November 2, 2017

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Bravada Announces Increase to Equity Financing | Prospector News
Uncategorized

Bravada Announces Increase to Equity Financing

 

 

 

 

 

Bravada Gold Corporation (TSX-V: BVA) (OTCQB: BGAVF) announces that it is increasing the recently announced private placement from $500,000 to $800,000. The Company now plans to issue up to 8,000,000 units in the non-brokered private placement at a price of $0.10 per Unit to raise $800,000. Each Unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.15 per share.

 

 

Net proceeds from the private placement will be used: a) to drill 2-3 proof-of-concept holes at the Wind Mountain property to test for high-grade “Hishikari-type” gold-silver mineralization at the unconformity between Mesozoic metasediments & Tertiary volcanic rocks; and b) for working capital. Bravada will make a provision for an over-allotment option (Greenshoe) to allow a purchase of up to 10% additional units beyond the number of units in this Offering. Finders’ fees and commissions may be paid by the Company in relation to the units sold in this Offering.

 

 

About Wind Mountain

 

 

The Wind Mountain Property is in northwestern Nevada approximately 160km northeast of Reno in a sparsely populated region with excellent logistics, including county-maintained road access and a power line to the property. It is an historic past-producing, bulk-tonnage gold-silver mine. An independent resource estimate and Preliminary Economic Evaluation for Wind Mountain commissioned by Bravada in 2012 reported:

 

  • 570,000 ounces of gold and 14.7 million ounces of silver in the Indicated category, and
  • 354,000 ounces of gold and 10.1 million ounces of silver in the Inferred category.

 

 

See the table below and news release NR-06-12 dated April 11, 2012 for details of the resource update. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be classified as mineral reserves. There is no assurance that any part of the resources will ultimately be converted to mineral reserves.

 

 

 

  Tons oz Au/T oz Ag/T Tonnes gms Au/T gms Ag/T oz Au oz Ag
Indicated resource              
Oxide at 0.005 oz Au/ton cut off            
  58,816,000 0.010 0.25 53,372,051 0.343 8.6 564,600 14,539,000
Mixed/Sulfide at 0.01 oz Au/ton cut off            
  498,000 0.012 0.40 451,906 0.411 13.7 5,900 197,000
Total 59,314,000     53,823,956     570,500 14,736,000
 
Inferred resource              
Oxide at 0.005 oz Au/ton cut off            
  19,866,000 0.006 0.17 18,027,223 0.206 5.8 125,200 3,443,000
Mixed/Sulfide at 0.01 oz Au/ton cut off            
  14,595,000 0.016 0.46 13,244,102 0.549 15.8 229,100 6,672,000
Total 34,461,000     31,271,325     354,300 10,115,000

 

 

 

 

Mine Development Associates compiled the Technical Report and PEA. Thomas Dyer, P.E. is a Senior Engineer for MDA and is responsible for sections of the Technical Report involving mine designs and the economic evaluation, and Steven Ristorcelli, C.P.G., is a Principal Geologist for MDA and is responsible for the sections involving the Mineral Resource estimate. These are the Qualified Persons of the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Economic Analyses of Mineral Projects. Details of the PEA produced by Mine Development Associates (MDA) of Reno can be found on SEDAR, as previously reported (see NR-07-12 dated May 1, 2012). Note that although the PEA was encouraging, it is preliminary in nature, it includes Inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized.

 

 

About Bravada

 

 

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. During the past 12 years the Company has successfully identified and advanced properties that have the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Currently, four of its Nevada properties are being funded by partners.

 

 

For more information on the Company and to request documents for the offering, please visit the link below:

 

http://issuer.direct/projects/bravada-gold/

 

Posted November 2, 2017

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