Woewodski drilling nearly complete

Spending about $250,000 on its first phase of drilling this year, Bravo Venture Group hit the ground mid-May with a core drill to test three prospects on the Woewodski Island property in Southeast Alaska about 18 miles southwest of Petersburg.

The 3,000 meter drill program will be completed mid-June, according to Jay Oness, vice president of investor relations for the Canadian junior, part of the Manex Group of mineral exploration companies.

"We might increase that (drill work)," Oness told Mining News June 7. "We're getting some excellent results - some nice material at both the Mad Dog and Lost Lake deposits." Crews punched four holes at the Mad Dog prospect then moved the drill rig to the Lost Lake prospect, where three holes were drilled. Average depth of the holes is 200 to 300 meters, Oness said.

The third prospect, Crab Bay, will receive the remaining drill footage in this first phase of exploration at Woewodski, a polymetallic deposit containing gold, silver, zinc, lead and copper.

"We feel we've got a tremendous opportunity to advance a massive sulfide deposit on the island," Oness said. "We're hoping Mother Nature is kind to us and assay results will reflect that."

Depending on results from this early summer exploration program, Bravo Venture could return to Woewodski later this year for more work, Oness said.

"We might be doing another financing," he said. "We raised $1.4 million in Bravo, so we have the funds available for the different properties."

In April 2003, Bravo Venture optioned the Woewodski Island claims from Olympic Resources, a Southeast Alaska-based privately held exploration company, providing access to nearly the entire four-by-five mile island. Terms of the acquisition agreement allow Bravo to earn a 100 percent interest in the property over a five-year period by spending $2 million on exploration and development, issuing 400,000 shares to the property owners and carrying the holding costs of the claims.

Similar to Greens Creek volcanic massive sulfide

Following a successful initial exploration program in 2003, which included rock sampling and limited core drilling on the Lost Lake prospect, Bravo staked three additional claims on the island.

"Bravo is encouraged by the early returns from the property," the company said, in a November 2003 press release announcing some high-grade surface samples. "Precious-metal-rich sulfides identified in the 2003 surface sampling and confirmed in several exploratory 'winkie' drill holes together with the newly acquired historical data supports a Greens Creek type exploration model," the company said.

About 110 miles north of Woewodski Island, Greens Creek produces gold, silver, zinc, lead and copper from its underground mine near Juneau. More than 10 different synergetic volcanic massive sulfide and gold quartz vein targets are located on the Woewodski property, according to Bravo's website.

In addition to drilling, historical grids have been re-established and orientation soil sampling has been conducted at the Brushy Creek, Boulder Point, Crab Bay and Lost Lake prospects, according to the company's May 13 press release. New sulfide discoveries have been identified at Goose Cove, Hattie and West Brushy Creek. Soil lines have tested mineralized zones along Butterworth Island and in the Mad Dog South area. Results are pending from 58 rocks and 91 soil samples gathered on the property.

2003 exploration identifies geophysical targets

Based on historical work, including Hydra-Wink drilling and surface sampling, the property contains a geological inventory of 500,000 tons, with grades of 8.1 percent zinc, 0.6 percent lead and 2.3 ounces of silver per ton of rock at the Lost Lake prospect, and 8.9 percent zinc, 2.2 percent lead and 8.1 ounces of silver per ton of rock at the Mad Dog prospect.

"Detailed evaluation of newly acquired airborne geophysical data covering Woewodski Island has identified 93 different geophysical targets of which 26 anomalies are considered high priority for 'conductive' massive sulfide type targets," Bravo said on its website.

In 2003, the company completed 1,402 feet of scout diamond drilling at Lost Lake prospect where high-grade massive sulfides intersected in past winkie drilling confirms previous drill results. One of those holes produced a 1.8 meter (5.9 foot) intercept, grading 222 grams of silver (7.1 ounces) per ton of rock, 6.34 percent lead and 16.15 percent zinc.