"Bravo finally released its long-awaited updated resource estimate for the Homestake Ridge project and, frankly, I would have had no problem waiting a bit longer for the news.
It seems that Scott Wilson Roscoe Postle Associates, the independent engineering company performing the resource estimate, concluded that Homestake Ridge could not be developed under any open pit scenario, and had to be considered as an underground-only mine. Thus, the economic cut-off grades had to be much higher under this higher-cost scenario, and raising the grade resulted in a much smaller resource, even after considering the last two years of drilling. As one would expect, Bravo's share price fell precipitously on the news.
. . .Frankly, given the precipitous fall in share price, the company is probably fairly valued considering the high-quality ounces it currently has, and considering the C$6 million, 12,000-meter drill program about to begin. Some may even consider it undervalued.
My conclusion is that Bravo is much more likely to rise from current levels than it is to fall further, thus I'll make it a hold for those who already own it, and a speculative buy for those who don't."
Chris Thompson, Haywood Securities
(01/19/10)
"Bravo's key Homestake Ridge project delivered strong results from the drill bit in 2009, as a result of its 13,500m drill program (48 holes). Highlights included 41.6m grading 6.1 g/t Au and 11.3 g/t Ag from the Homestake Main Zone, and 41.1m grading 4.0 g/t Au and 176.6 g/t Ag from the Homestake Silver Zone. Bravo continued to confirm and expand upon the gold exploration potential at Homestake early this year by tabling significant gold grades from the Homestake Silver Deposit: 24.4 metres grading 12.1 g/t An and 6.8 g/t Ag.
For 2010, look for results pending from the 2009 program at Homestake Ridge (five drill holes pending) and the return to drilling in the 2010 season, potentially in June. With roughly $9.7 million in cash, Bravo is well-financed to continue drill testing targets at its Homestake Ridge project in 2010."
Lawrence Roulston, Resource Opportunities
(01/15/10)
"Bravo Venture Group reported recoveries from initial metallurgical test-work at its Homestake Ridge gold-silver project in northwest British Columbia. Recoveries were between 87% to 92% from a combination of gravity separation, flotation and cyanidation. Metallurgical test-work is ongoing with test-work planned on other targets, including the Homestake Silver discovery area.
. . .Bravo announced plans to spin-out its Nevada gold properties into a new company that will be called Bravada Gold Corporation. The deal will help unlock shareholder value for the properties as Homestake Ridge takes the spotlight. The deal is subject to shareholder approval in February.
Drilling in 2009 was successful in better defining the mineralization at the Main Homestake deposit and led to the discovery of the Homestake Silver zone to the southeast. Building on previous results, Bravo is well position to expand on the existing resource."
Brien Lundin, Gold Newsletter
(01/11/10)
"Bravo Venture (BVG.V: C$0.41) has pulled more bonanza-grade intersections at the Homestake Silver and Main Homestake zones on its Homestake Ridge Project in northwestern British Columbia. At the Homestake Silver Zone, initial assays from Hole 161 averaged 51.9 g/t gold, 2,592 g/t silver, 2.8% lead and 3.0% zinc over 1.9 meters. That interval was within a longer, 7.0-meter section averaging 18.2 g/t gold and 946 g/t silver, which itself was within a 41.1-meter section running 4.0 g/t gold and 176.6 g/t silver.
In this program, Bravo has continued to hit more gold and silver and expand the broad outlines of the previously known zones. In addition, they've identified new, large-scale targets with similar geophysical and geochemical (potassium) signatures that will be aggressively explored in next season's program.
In short, Homestake Ridge is a valuable project with significant upside potential. But we'll have to be a bit more patient before realizing that potential and—unless the next dozen drill holes come up with big surprises—the winter offseason will likely provide some cheaper entry levels for those wanting to get into this play. Bravo is a hold for now."
Chris Thompson, Haywood Securities
(01/07/10)
"Bravo Venture has released more encouraging results from the Homestake Silver on its 100% owned Homestake Ridge project located within a VMS belt in northwest British Columbia, which hosts high-grade mineralization at the Eskay Creek, Premier and Snip mines.
Testing the Homestake Silver zone, Hole HR09-165 intersected 24.4 m averaging 12.1 g/t Au and 6.8 g/t Ag, including 2.4 m interval averaging 27.0 g/t Au and 22.1 g/t Ag, and 14.5 m averaging 4.8 g/t Au and 2.1 g/t Ag, including 1.8 m interval averaging 14.3 g/t Au and 2.9 g/t Ag.
. . .By delivering significant gold grades over good widths and expanding the lateral dimensions of gold mineralization (100m step-out holes) Bravo continues to demonstrate Homestake Silver's prospectivity to host gold mineralization in addition to that confirmed at Homestake Main. Additional blue sky is also presented by the testing of additional geophysical anomalies on the property."
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