Gold Bull Resources (TSX-V: GBRC)(OTC: BLSSF) CEO Cherie Leeden on Near-Surface, High-Grade Gold Intercepts from North Hill Target at Flagship Sandman Gold Project, Nevada

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Gold Bull Resources — Ms. Cherie Leeden. Cherie, how are you this morning?

Cherie Leeden: Very well, thank you. Good morning.

Gerardo Del Real: Good morning. The last time you and I chatted was back... it was actually just a week ago. It seems like so long ago, right? But we talked last time about the 144.8 meter intercept of 1.67 grams per tonne gold that included a 6.1 meter intercept of 10.75 grams per ton gold. 

This morning… more exciting news! You drilled several shallow, high-grade intercepts including a 13.7 meter intercept of 10.95 grams per tonne gold. And it's important to note that it's from near-surface; it's from 41.1 meters. 

I'll let you provide the context. But, obviously, congratulations are in order — you are off to an excellent start with the drilling campaign at the Sandman Project in Nevada!

Cherie Leeden: Thank you very much! So these recent drill holes come from our North Hill prospect; so still within Sandman but a different project than we last spoke about, which was Abel Knoll. 

So we drilled four holes at North Hill. And the point of these holes was to increase our resource competence and our resource size at North Hill. At North Hill, we already have about 100,000 ounces of indicated resource and about 20,000 ounces of oxide on top of that. 

So we're looking for more. And the fact that these extremely high-grade numbers are so close to surface give me great confidence that these could be included in a pit constrained resource estimate.

Gerardo Del Real: And mineralization remains open in multiple directions, correct?

Cherie Leeden: It does. I really like this project area because of that fact. And in addition to this oxide mineralization remaining open, nobody historically has really explored for the source of this mineralization. 

So our geophysics team led by David Johnson is really looking for the source of this gold. And we completed a geophysical survey that's defined a few compelling drill targets. So we're really hoping we can extend this mineralization and find more.

Gerardo Del Real: You have to feel confident with the data set that you've been able to access given the fact that these holes were designed to confirm historic drilling. And, obviously, it's doing that, right?

Cherie Leeden: Yeah, it's doing more than that. These numbers are actually better than we were anticipating. So we're really happy with these grades. And to have intervals such as the 13.7 meters – it's at almost 11 grams a tonne from 40 meters – it’s just begging to be extracted. 

It's hard to keep focused and not look at feasibility studies. But right now, our focus is on adding more ounces this year. And we're going to stick to that focus of adding more ounces in 2021 and looking at feasibility study options next year.

Gerardo Del Real: It's funny. You kind of answered my next question. I noticed you mentioned in the release, there's a quote that says,
"These results increase our confidence in high-grade zones that will form a focus in a future economic study of the project.”
And that was going to be my next question. In what form are you considering that? Would it be a PEA type of scenario or a more advanced study?

Cherie Leeden: Yeah, again, we really do need to add ounces this year because there's no point in us commencing a feasibility study now, and then for argument's sake, we find another million ounces. And then the feasibility study we did on the half a million ounces we already have and goes out the window. 

So we are confident that we have the potential to find more ounces this year. So we will be deferring the feasibility-like studies, the PEAs, until we've had a good chance at a couple of drill programs this year. And then, the level of detail we've got already from the previous explorers, I think we could go directly to feasibility study quite quickly.

Gerardo Del Real: The goal that you set out when you and I spoke initially about helping tell this story was to take the resource space from the half a million or so ounces to five million ounces by the end of 2021. How is the drill campaign coming along thus far in your eyes and your experience, obviously, which is substantial?

Cherie Leeden: So that goal incorporates new acquisitions as well. And on that front, I'm still very actively negotiating a number of new possible acquisitions. And our exploration team is focused on adding ounces at our current project — and particularly Sandman. 

So I think we're certainly striving to that goal. We’re talking about adding ounces on every meeting that the team gets together and talking about where those ounces are going to come from first. But we're certainly striving towards the goal of adding more ounces and becoming a significant gold player in Nevada.

Gerardo Del Real: Fantastic! I'm looking forward to it, Cherie. Congratulations again, and we'll chat again soon, okay?

Cherie Leeden: Thank you, Gerardo. Have a great day!

Gerardo Del Real: All right, thank you. Bye now.

Cherie Leeden: Bye.

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