Homestake Ridge - British Columbia
In 2011, Homestake Resource reported an updated mineral resource estimate, (NI43-101 compliant) of 191,000oz gold and 1,350,000oz silver indicated plus 530,000oz gold and 13,470,000oz silver inferred at a 3.0 g/t AuEq. cut-off in two separate deposits.
Message: Options Barite Rights to Baker Hughes
| April 16, 2009 |
| Bravo Options Barite Rights to Baker Hughes |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2009) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that the company has signed an option agreement with Baker Hughes Drilling Fluids, a division of Baker Hughes OilField Operations, Inc., whereby Baker Hughes can acquire 100% of any barite ore at the company's Shoshone Pediment gold project in the Battle Mountain-Eureka Gold trend in central Nevada. Bravo will retain all other mineral rights, including gold. Baker Hughes will make annual payments to Bravo of US$25,000 and will pay claim maintenance fees during the option period and during any subsequent barite mining. Baker Hughes can exercise the option by making a US$150,000 payment to Bravo anytime within the six-year option period. Bravo will receive a quarterly royalty payment of US$1 per ton of barite ore on any production greater than 150,000 tons of barite ore. In addition, Bravo will receive a split of any samples drilled by Baker Hughes. Should there be a discovery of both barite and other metals, each company would have the right to mine their respective minerals while stockpiling minerals belonging to the other party. President Joe Kizis said, "This agreement benefits both parties. Baker Hughes plans to produce barite from adjacent properties and any addition from Bravo's property may positively affect their mining economics. Bravo will be able to continue exploring for gold by utilizing splits of samples drilled by Baker Hughes. Shoshone Pediment lies along the northwesterly projection of a linear cluster of small gold deposits hosted in Upper Plate rocks along Slaven Canyon. Low-level surface gold anomolies are widespread on the Shoshone Pediment property, and two potential gold targets exist; one being a prominent limestone horizon located directly beneath the barite beds in Upper Plate rocks, and one being the Lower Plate carbonates, which are prolific hosts to Nevada's largest gold deposits." 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. About Baker Hughes Baker Hughes is a global oilfield service company with operations in over 90 countries, providing advanced products and services to help customers drill, evaluate, complete and produce oil and gas wells. The company currently mines and processes barite from its operations located approximately 20 kilometres east of Battle Mountain, Nevada. Barite is a relatively inert mineral used to add density to drill fluids, primarily in the oil and gas industries. On behalf of the Board of Directors Joseph A. Kizis Jr., Director, President, Bravo Venture Group Inc. |
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