- Bravada Gold Corp (TSXV:BVA) has closed a non-brokered private placement for a total of C$664,400 in gross proceeds and resumed exploration work in Nevada
- The company offered up 8.3 million units at eight cents each, with each unit made up of one common share of the company and one common share purchase warrant
- Each warrant contains a common share at an exercise price of 15 cents for a period of three years
- Announced alongside placement, Bravada’s venture partner OceanaGold US has resumed exploration at the companies’ joint Highland project in Nevada
- Bravada Gold Corp (BVA) is up 4.7 per cent and is trading at 12 cents per share
Bravada Gold Corp (TSXV:BVA) has closed a non-brokered private placement for a total of C$664,400, and resumed exploration in Nevada
The company offered up 8.3 million units at eight cents each, with each unit made up of one common share of the company and one common share purchase warrant. Each warrant contains a common share at an exercise price of 15 cents for a period of three years
The company has stated the funds will be used for capital costs, which include the sustaining fees for the company’s Nevada claims.
On those claims, the company’s Highland project exploration program is now underway.
The funding for the exploration work is coming from the company’s joint venture partner in the project, OceanaGold US.
Bravada has completed some additional field work to firm up drilling targets and is working on securing permits for 12 drilling sites across two mineral targets.
President of Bravada, Joe Kizis said exploration in Nevada had come a long with since heading out with a burro and a gold pan. He went on to outline some of the techniques being incorporated into the program.
“Advances in geochemistry, geophysics and 3D modelling combined with a fuller understanding of geological processed that create ore provide modern explorers with tools to find deposits that do not stick out of the ground.
“The Eastern Graben area of the Highland project is uniquely suited for this type of study due to extensive preservation of sinter over several square kilometres,” he said.
Bravada Gold Corp (BVA) is up 4.7 per cent and is trading at 12 cents per share at 12:01am EDT.
