Homestake Res.(ehem.Bravo Gold) / HSR (CVE)

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Bravo drills 4.0 m of 2.7 g/t Au at Homestake Ridge

2010-09-23 20:12 ET - News Release

Mr. Joseph Kizis Jr. reports
BRAVO ANNOUNCES POTENTIAL NEW DISCOVERY AT HOMESTAKE RIDGE

Bravo Gold Corp. has made a potentially new discovery at the Fox Reef
exploration target based on assays at its 100-per-cent-owned Homestake
Ridge project, located in northwestern British Columbia. In addition,
drilling continues to expand the Homestake silver deposit. Data from
other exploration drill targets are also being evaluated for possible
follow-up drilling. Bravo is conducting an aggressive $6.5-million-plus
drilling program and anticipates completing over 15,000 metres of
drilling in up to 50 drill holes before the end of the 2010 season.
Thirty-six drill holes, for a total of 13,141 metres, have been
completed to date. Complete assays have been received for 16 drill
holes. One hole was abandoned prior to intersecting the target.

Fox Reef exploration target

To date, Bravo has completed 18 drill holes in five exploration targets
on the property, including several areas identified using airborne
geophysics in 2009. Drilling at the Fox Reef exploration target has
intersected potentially economic mineralization at relatively shallow
depths.

Highlights from Fox Reef include (reported as a downhole thickness):

• 
  4.0 metres averaging 2.7 grams per tonne gold and 2.2 g/t silver in hole HR10-184;

• 3.0 metres averaging 3.4 g/t gold and 0.9 g/t silver, including 1.0 metre
  averaging 8.0 g/t gold and 1.7 g/t silver in hole HR10-189.

Mineralization at Fox Reef has been drilled in two separate areas
approximately 400 metres apart, which are located 700 metres to the
southwest of the Homestake silver zone. Identification of more than one
g/t gold in relatively shallow drill holes is comparable with initial
drilling on each of the Main Homestake and Homestake silver deposits,
both of which now contain 43-101-compliant mineral resources. Robust
base metal values were returned from several intervals, including a
1.2-metre (downhole) interval, which averaged 0.4 g/t gold, 1.1 per cent
copper, 2.54 per cent lead and 8.39 per cent zinc in HR10-183. Assays
are pending from four holes, and one drill rig is currently drilling
additional holes to further delineate mineralization.

Homestake silver deposit

In the 2010 exploration program, Bravo has completed 18 holes, for a
total of 8,260 metres, in the Homestake silver deposit and the northwest
toward the Main Homestake deposit. Assays have been received from eight
holes, which represent 70-metre to 100-metre-plus step-outs from 2009
drilling. One rig is continuing to delineate mineralization between the
Homestake silver and Main Homestake deposits.

Highlights from the 2010 holes include (all values are reported as estimated true thickness):

• 
  24.1 metres averaging 2.3 g/t gold and 3.6 g/t silver, including 7.1 metres
  averaging 4.4 g/t gold and 6.7 g/t silver from hole HR10-170;

• 15.4 metres averaging 2.2 g/t gold and 2.6 g/t silver, including 3.1 metres
  averaging 3.7 g/t gold and 2.1 g/t silver from hole HR10-175;

• 4.9 metres averaging 2.4 g/t gold and 174 g/t silver, including 0.8 metre
  averaging five g/t gold and 1,000.3 g/t silver from hole HR10-185.

Intervals of anomalous gold and silver occur in multiple drill holes and
establish the lateral continuity of individual mineralized horizons
within the deposit and continue to extend the boundaries of Homestake
silver deposit, particularly to the northwest toward the Main Homestake
deposit. As with previous results, mineralization located near the top
of the main host volcanic sequence is enriched in silver while
mineralization deeper in the volcanic stratigraphy is enriched in gold.

Only partial results are available from drill holes HR10-185 and
HR10-188, with assays still pending from the lower parts of these holes.
Alteration is present in all holes, and one drill rig is offsetting
those holes to delineate more fully mineralization.