The SF Property is located in Eureka County on the Battle Mountain Gold Trend. The Bullion and Cortez Mining Districts are within 40km of the property and have produced an estimated 10 million ounces of gold and contain another 20 million ounces of proven and probable reserves. The nearby Buckhorn Mine produced 109,422 ounces of gold and 409,887 ounces of silver and has proven and probable reserves of 130,000 ounces of gold.
The property consists of 102 unpatented mining claims, 66 of which are leased and 36 which were located by Bravada. Bravada can acquire a 100% interest in the leased claims by completing a series of annual payments totaling US$280,000. Should production occur from the property, a 1% NSR would be paid to the owner, one-half of which (0.5%) could be bought for US$3,000,000.
Weak gold mineralization exposed at the surface on the SF Property occurs in Paleozoic sedimentary rocks, and the characteristics of the mineralization are similar to the distal portions of numerous Carlin-type gold deposits. Three samples collected from silicified siltstone and chert float/subcrop on the east side of the SF group contain from 0.06g/t to 0.1g/t Au. Another sample of limestone float from the center of the property contains 0.057g/t Au.
Drilling on the HC claims by J-Pacific Gold Inc., within 200m of the eastern border of the SF Property, intersected narrow zones of +0.3 g/t Au associated with highly altered Tertiary(?) dikes in a down-dropped block of younger Paleozoic sediments than are exposed on the SF property. The mineralization in this drill hole may be distal leakage from the target that is recommended for testing on the SF Property.
The alteration and mineralization at the surface and in the drill hole are believed to be controlled by a northwest-trending, horst-bounding fault that is covered by gravel. The rocks exposed at the surface of the property are the Horse Canyon and Wenban Formations, important host rocks in the Cortez Mining District. The most favorable portions of these formations lie at depth beneath the areas of anomalous geochemistry and alteration.
Bravada also collected soil samples from lineaments that are interpreted as fault scarps in the pediment between, and to the south of, the exposed Paleozoic-age rocks. Anomalous gold values of 0.019 to 0.039g/t Au may delineate hidden mineralized structures beneath Quaternary alluvium. A total of five sites are permitted and bonded for drilling.
