VANCOUVER, Oct. 25, 2017 /CNW/ - Bravura Ventures Corp. (CSE: BVQ;OTC: BRVVF; FRA: 23B) ("Bravura" or the "Company") wishes to announce it has mobilized field crews to carry out first pass exploration on the recently acquired Kahuna and Rabbit Lake cobalt-silver properties located in eastern Ontario centered approximately 45 km south of Cobalt Ontario, collectively, the "Cobalt Properties" or the "Properties").
The preliminary work Programs will consist of prospecting, geologic mapping, geochemical surveying and sampling to locate and delineate mineralized structures. Field crews will also utilize portable XRF and a beep mat to focus exploration. Commercial accommodation in Temagami will be utilized and the programs will be boat supported.
Greg Burns CEO, commented "The company is excited to begin systematic exploration of our Ontario cobalt land package and are looking forward to see the exploration potential of these properties."
About the Kahuna Cobalt Property:
The Kahuna Cobalt property is located 14 km northeast of the town of Temagami and 37km south of the town of Cobalt near the eastern border of Ontario. The district is mining friendly having a rich history of cobalt and silver production. The epicentre of past producing cobalt mines in Ontario.
Property Status and Configuration
The Kahuna Cobalt property is comprised of 77 claim units and covers approximately 1,200 hectares.
Access and Infrastructure
The Property is accessible by boat from Lorrain Lake which is accessed by 12 km of well maintained gravel surface roads off of leaving a major paved highway connecting the nearby town of Temagami and New Liskeard. The property is located 12 km from rail and power distribution lines.
Cobalt and silver mineralization occurs in calcite veins within the Nipissing Diabase as erythrite and native silver. The grade of 5 tonnes of material collected during past production was reported to be 22% Cobalt, and an assay of 20 oz/t Silver was reportedly obtained from a vein on the property.
Friday Mines Limited operated the property in the 1920's sinking a shaft and drifting on a 10 inch wide calcite vein with cobalt mineralization. 5 tonnes of cobalt mineralization was produced with a grade of 22% Co. In the 1960's, Gibson Mines Limited explored the property and found cobalt and silver mineralization. An assay of 20 oz/t silver was reportedly obtained from a vein as well. More recently, in 1998 a portion of the property was staked and a small soil survey reported cobalt in soil up to 440 ppm as well as gold-in-soil anomalies.
The historical information for the Kahuna Cobalt Property provided in Mineralization and History was obtained from the Mineral Deposit Inventory Report MDI31M04SE00035. The details of which are presented to provide a mineral potential and historical work perspective, and any sampling, analytical or test data underlying the information or opinions have not been verified by a Qualified Person. The Company intends to include check sampling during the current exploration phase.
About the Rabbit Lake Cobalt Property:
The Rabbit Cobalt property is located 14 km southeast of the town of Temagami and 55km south of the town of Cobalt near the eastern border of Ontario.
Property Status and Configuration
The approximately 1,040 ha Rabbit Cobalt property is comprised of 65 claim units.
Access and Infrastructure
The Property is accessible via Rabbit Lake which is accessed by 7 km of well-maintained gravel surface road leaving highway 11, 3.5 km south of the town of Temagami. The property is located 10 km from rail and 5 km from power distribution lines.
Cobalt, gold and nickel mineralization is hosted within a fracture zone in diabase approximately 18 inches in width. The fracture is described as being at the contact between the mafic intrusive and the Gowganda Formation. A grab sample collected by A.G. Burrows returned an assay of 8.76% Cobalt, and 6.56% Nickel. The grab samples are selective samples, and are not necessarily representative of the mineralization hosted on the property.
The town of Cobalt, Ontario is located along the Quebec border, near Temiskaming Shores in Northern Ontario. The town sprang up to serve as its hub during the cobalt silver rush. Sporadic exploration of the property has occurred since at least 1955 with minimal focus on cobalt mineralization in more recent years. In 2002 JML Resources flew airborne geophysics over several prospects in the area looking for diamondiferous kimberlites and partially covered the property. Tres-Or Resources in 2005 was also exploring the area for diamondiferous kimberlites.
The historical information for the Rabbit Lake Cobalt Property provided in Mineralization was obtained from the Mineral Deposit Inventory Report MDI31L13NE00004. The details of which are presented to provide a mineral potential and historical work perspective, and any sampling, analytical or test data underlying the information or opinions have not been verified by a Qualified Person. The Company intends to include check sampling during the current exploration phase.
Michael Waldegger, P.Geo, is the qualified person as defined in NI 43-101, that has reviewed and approved the contents of this press release.
BRAVURA VENTURES CORP.
ON BEHALF OF THE BOARD OF DIRECTORS OF BRAVURA VENTURES CORP.
Greg Burns, Director
Disclaimer for Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws, including statements that address capital costs, recovery, grade, and timing of work or plans at the Company's mineral projects. Forward-looking information may be, but not always, identified by the use of words such as "seek", "anticipate", "plan", "planned", "continue", "expect", "thought to", "project", "predict", "potential", "targeting", "intends", "believe", "opportunity", "further" and others, or which describes a goal or action, event or result such as "may", "should", "could", "would", "might" or "will" be undertaken, occur or achieved. Forward-looking information in this press release includes, but is not limited to, statements regarding expectations of management regarding the acquisition of the Property and includes that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion of mineralization, potential type(s) of mining, potential grades as well as to the Company's ability to fund ongoing expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades, favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which may cause the actual results to materially differ, and/or any future results expressed or implied by such forward-looking information. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the Company may not have the funds necessary to make its payments pursuant to the Agreement, that the CSE may not approve the transaction, and other factors beyond the control of the Company.
Additional information on risks and uncertainties can be found within Financial Statements and other materials found on the Company's SEDAR profile at www.sedar.com. Although Bravura has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Bravura withholds any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.
SOURCE Bravura Ventures Corp.
For further information: 800 - 1199 West Hastings Street, Vancouver, British Columbia, V6E 3T5, Tel.: 604.283.1722 / Fax: 1.888.241.5996