February 21, 2008
Bravo Intersects High-Grade Silver at Homestake Ridge
Bravo Venture Group Inc. reported today that additional assay results have confirmed high-grade silver mineralization at the Homestake Silver zone, which is located southeast of the Main Homestake zone at the company’s Homestake Ridge project in the “Eskay Creek” region of northwestern British Columbia.
The company reports that assay results have now been received for the final two of three core drill holes, totaling 687.7 metres, that were completed on the Homestake Silver zone in 2007. These holes represent the first drill testing of this target, which is located about 400 metres along strike from the most southeastern extent of drilling on the Main Homestake zone. Drilling tested a 100 metre strike-length of a 500 metre long silver-in-soil anomaly (open to the south) identified from surface sampling in 2004.
Highlights from these holes include: a 0.69 metre interval grading 2.4 g/t Au and 891.8 g/t Ag within a broader 17.9 metre interval grading 0.27 g/t Au and 66.4 g/t Ag in drill hole HR07-78. In addition, three mineralized intervals from drill hole HR07-76 reported 24.5 g/t Ag over 6.6 metres, 63.6 g/t Ag over 10.5 metres and 15.9 g/t Ag over 10.5 metres, which all occur within a 101.1 metre interval grading 14.5 g/t Ag. All intercepts are reported as estimated true thicknesses. These most recent results complement an earlier reported assay result from the Homestake Silver zone (HR07-75), which returned a 14.0 metre interval grading 19.3 g/t silver (see NR-02-08; February 17th, 2008) .
Table of Results - click here for a PDF file
These mineralized intercepts occur within the upper parts of the target stratigraphy and are comparable in location and style to high-grade silver mineralization from the upper stratigraphy of the Main Homestake zone. Previously released results from the 2006 drill program, which tested this high-grade silver zone at the Main Homestake zone include: 3.0 metres grading 1.2 g/t Au and 845 g/t Ag from hole HR06-26; 1.7 metres grading 18.6 g/t Au and 1108 g/t Ag from hole HR06-13 and 1.2 metres grading 35.7 g/t Au and 3176.5 g/t Ag from hole HR06-14.
These early results from the Homestake Silver zone highlight not only the on-strike potential of the target stratigraphy, which is open down-dip and to the southeast, but also to the potential of stacked mineralized lenses deeper within the stratigraphy, as demonstrated by the distribution of mineralization within the Main Homestake zone. In addition, mineralization in the Homestake Silver zone is spatially associated with an abrupt thickening of a hangingwall debris flow unit, which may be related to sub-basin development similar to that observed at the Main Homestake zone and which is partially responsible of the localization of high-grade mineralization.
Main Homestake Zone
Drilling on the Main Homestake zone has now tested a 600 metre strike-length of the mineralized horizon to depths of over 600 metres. The deposit remains open down-dip and along strike to the southeast and northwest, as evidenced by intervals of locally intense alteration and base-metal (+/- precious-metal) mineralization that were intersected along strike and down-dip of the previously identified mineralized zone. An updated long section showing the location of completed drill holes has been posted on the company’s website www.bravoventuregroup.com.
Vanguard Gold Zone
At the Vanguard Gold zone, located 2,200 metres to the southeast of the Main Homestake zone, previously reported drill results returned encouraging assays results including a 1.05 metre interval grading 5.21 g/t Au within a broader 38.88 metre interval grading 0.60 g/t Au. Similar values were reported from Bravo’s initial drilling on the Main Homestake zone in 2003 and suggest the potential to develop another significant near-surface lens of mineralization.
Results from the Vanguard Gold zone, the Homestake Silver zone and the northwest extension of the Main zone are significant in highlighting the district-wide mineral potential of the Homestake Ridge project.
Bravo has commissioned an update to its independent NI 43-101 compliant report, adding 2007 results to the results from the 2006 and earlier programs. In March 2007, Bravo announced an Inferred Resource of 903,231 ounces of gold and 5,745,746 ounces of silver contained within 11.9 million tonnes with an average grade of 2.36 g/t Au and 15.0 g/t Ag, using a cut-off grade of 0.5 g/t gold (see NR-04-07). (1) The deposit remains open both along strike and at depth.
Homestake Ridge Project
The Homestake Ridge project, located 32km southeast of Stewart, B.C., consists of Mineral Title and Crown Grant claims totaling 2,725 ha.
Bravo earned a 100% interest in the Homestake Ridge mineral claims from Teck Cominco Limited (“Teck Cominco”) by issuing 200,000 shares to Teck Cominco and spending in excess of $3.0 million on exploration and development work on the claims. Bravo has provided notice to Teck Cominco that it has spent in excess of a minimum of $5.0 million (to a maximum of $8.0 million) on exploration and development work. Teck Cominco now may elect to back-in within ninety days after receiving the expenditure notice from Bravo (delivered December 27, 2007 – see NR-01-08) at which time Teck Cominco can elect to earn a 60% interest by expending 200% of Bravo’s expenditures, in scheduled yearly increments at a minimum annual expenditure of 20%, on continued exploration and development work on the mineral claims. Teck Cominco can also earn up to an additional 10% by sole funding a feasibility study and arranging production financing and construction guarantees.
About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring precious and base metal-rich projects within North America, currently with properties in Nevada, Alaska, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada. The Woewodski Island project in southeast Alaska hosts both precious and base metal-rich massive sulphides and gold-rich orogenic quartz veins. The Homestake Ridge project is a gold-rich epithermal/VMS-related vein system within Eskay Creek/Silbak-Premier stratigraphy.
Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release.
On behalf of the Board of Directors
“Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President, Bravo Venture Group Inc. -----------
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