Bravada Gold (BVA.V) has received the approval for an amendment to its existing drill permit for the Wind Mountain gold-silver project in Nevada. Five additional drill sites have now been permitted allowing for Bravada Gold to (once again) drill-test the higher grade vein system that is believed to be hidden in the Feeder target zone. As you may remember, the company followed up on this drill target in 2021 but the four RC holes that were drilled didn’t reach the target and the new drill sites should help the company to intersect the vein zone from a better angle. In the press release, CEO Kizis elaborated on why he thinks the Feeder target isn’t dead yet.
Due to COVID-related delays all across the mining sector (the Wind Mountain drill permit took much longer than anticipated), the resource update at Wind Mountain has been delayed as well and is now expected to be completed at the end of Q2 or early Q3. Bravada Gold reiterated its expectations to see a higher average grade in combination with a low strip ratio which should confirm Wind Mountain to be a viable heap leach gold oxide project. We think that’s where the main value and definitely the near-term value will come from. Although the Feeder target remains interesting, moving forward with a PEA and PFS on the oxide areas of Wind Mountain could hopefully put the project on the map as a more advance stage Nevada exploration play.
Disclosure: The author has a long position in Bravada Gold. Bravada is a sponsor of the website. Please read our disclaimer.
