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VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 21, 2011) – Bravo Gold Corp (TSX VENTURE:BVG)(FRANKFURT:B6I) (“Bravo”) reported today it has discovered new high-grade gold mineralization in drilling at the South Reef zone of the Homestake Ridge project, located in northwestern British Columbia. The South Reef zone, which is located 750 metres to the southwest of the Homestake Silver deposit, represents a previously undrilled area which is open along strike for over 750 metres and at depth.
Assays from two of three core holes that intersected the target structure have been received. Highlights from these holes include:
Drill hole 11HR-234 also intersected a copper-rich massive sulphide lens in the upper part of the hole, which returned a 1.95 metre down hole interval averaging 4.5g/t gold, 44.0g/t silver and 2.0% copper within a 6.3 metre interval averaging 3.4g/t gold, 15.7g/t silver and0.6% copper. All intercepts are reported as down hole intervals.
The mineralized structure occurs along the eastern margin of a strong IP geophysical anomaly that can be traced through much of the central part of the Homestake property. Gold mineralization within the structure is associated with chalcopyrite in a strongly quartz-chlorite altered volcanic host. The mineralized structure occurs near the stratigraphic base of the host volcanic stratigraphy and is similar in appearance to the basal gold zone of the Main Homestake deposit. Drill hole 11HR-234 has tested the zone to 240 metres below surface and remains open at depth. The zone is open for 300 metres to the northwest where it projects into the area of the 2010 Fox Reef drilling and for 450 metres to the southeast where surface gold-in-soil anomalies (>100ppb Au) are associated with the projection of the geophysical signature.
Assays from a third hole, which tested the target structure approximately 50 metres along strike from drill hole 11HR-234, are pending.
To view Figure 1: Location of the New South Reef discovery, Homestake Ridge Project, please visit the following link:http://media3.marketwire.com/docs/754569_figure.pdf
The upper massive sulphide interval is similar in appearance to a gold and copper enriched massive sulphide lens located at surface 2.0 kilometres to the southeast at the Vanguard Copper occurrence. These may represent significant hangingwall lenses that could guide future exploration for additional new deposits.
