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Canada : Bravada Completes First Deep Test of Signal Project in Nevada.

Bravada Gold Corporation reports that it has now completed the first deep hole ever drilled on its wholly-owned Signal property, located along the Battle Mountain-Eureka Gold trend in Nevada. The 1125 hectare Carlin-type gold project is located in the northwestern portion of the Eureka District, which includes Barrick Gold Corp's Ruby Hill mine six kilometres to the east of Signal.

The first of two diamond/core holes (approximately 1,200 metres total) was completed to 613 metres. The hole intersected the unconformity at the base of Mississippian clastic rocks and the Devonian Devils Gate Limestone at 85 metres, which is the host for previously tested shallow gold mineralization. The hole continued in Devils Gate Limestone to 509 metres, where it passed through the projected low-angle fault into the Bartine Member of the McColley Canyon Formation, a major host rock for gold mineralization in the region. The hole cut 76 metres of this favourable hostrock, and then cut 28 metres of the underlying Kobeh Member before ending in unfavorable Beakon Peak Dolomite. Alteration encountered in the hole includes: decalcification, calcite-filled solution cavities, remobilized carbon vein fillings and commonly intense oxidation to hematite and goethite.

The second hole is underway approximately 350 metres to the north and is currently above the low-angle fault in Mississippian clastic rocks, which the Company's geologists believe could act as a "cap rock" by ponding mineralizing fluids beneath the low-angle fault at this location.

President Joe Kizis comments, "Experience has shown that Carlin-type mineral showings of any size, such as those already discovered near surface at Signal, can represent leakage haloes around much large multi-million ounce gold deposits. This is particularly true in highly productive mining districts such as the Eureka district. We are encouraged by the success of our reinterpreted geologic model of Signal, which is allowing us to test an entirely new host rock at Signal that has been productive elsewhere in the region. We are encouraged by the alteration ecountered, but caution that Carlin-style alteration is typically more widespread than the Carlin-type gold deposits they surround."

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Date:Jul 27, 2010
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