Bravura Clarifies Resource Estimate
(firmenpresse) - Bravura Clarifies Resource Estimate
September 7, 2016, Vancouver, British Columbia - Bravura Ventures Corp. (CSE: BVQ) (Bravura or the Company) would like to clarify the news release dated September 6th, 2016 with respect to the acquisition of the Musgrove Creek Property.
The Company wishes to clarify that it views the Inferred Resource Estimate for the Musgrove Creek gold exploration project located in Lemhi County, Idaho to be historical in nature, as insufficient work has been conducted on the property by a qualified person to verify the mineral resource and to classify this as a current mineral resource.
The historical inferred mineral estimate of 8 million tonnes at 1.22 g/t Au (0.036 oz/ton) at a gold cut-off of 0.8 g/t (0.023 oz/ton), equivalent to 9,761 kg (313,822 oz) of gold at zero dilution was calculated by Mr. David Makepeace, P. Eng. Of Geospectrum Engineering, and detailed in the Technical Report on the Musgrove Creek Gold Project, by Gruenwald W. and Makepeace, D. for Wave Exploration Corp (Feb., 25, 2004). The estimation methods employed by Mr. Makepeace included a detailed, systematic review and reclassification of drilling by Newmont in 1993 and Meridian Gold in 1996, the former having provided the initial resource calculation of the property of 11.9 million tonnes (13.2 million tons), grading 0.89 g/t Au (0.026 oz/T) at a cut-off grade of 0.34 g/t (0.01 oz/T) (Arkell and Krasowski, 1995). In his review of the data, it was determined by Mr. Makepeace that a higher cut-off grade of 0.8 g/t Au was more realistic for the new estimate, and he concluded that the updated estimate compared well with the previous estimation, and re-classified the estimate as an Inferred Resource based on the CIM definitions. Drilling on the property since the release of the Inferred Resource estimate has not focused on the area defined by the previous drilling, and additional in-fill drilling is required to upgrade the status of this preliminary resource estimate to classify the historical estimate as a current mineral resource.
The Company is not treating this historical estimate as a current mineral resource or reserve, and should not be relied upon until verified and supported by a compliant 43-101 technical report.
Qualified Person - David Hladky, P. Geo., is the Qualified Person as defined in National Instrument 43-101, that has reviewed and approved the contents of this press release.
BRAVURA VENTURES CORP.
Greg Burns
_______________________
Greg Burns, Director
Contact Information:
800 - 1199 West Hastings Street
Vancouver, British Columbia
V6E 3T5
Tel.: 604.283.1722 / Fax: 1.888.241.5996
Forward-Looking Information This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Bravura Ventures Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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