Categories: Precious Metals
Topics: General Precious Metals

Gold Bull Resources (TSX-V: GBRC)(OTC: GBRCF) CEO Cherie Leeden on Upcoming Resource Upgrade at Flagship Sandman Gold Project, Nevada, as Phase-2 Drilling & Assaying Continues

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 today?

Cherie Leeden: Very well. How are you, Gerardo?

Gerardo Del Real: I am great. Thank you for asking. It's great to have you back on. The last time that you and I spoke, you were waiting for assays that had been delayed, and then you had to submit some new samples. 

And now it looks like not only are we getting those assays in but you're hitting and you've also just kicked off a 5,000 meter RC Phase-2 drill program as well. So a lot to cover there. 

Can we talk about the news this morning? You reported those drill holes at North Hill and the Silica Ridge sections. And, again, you hit mineralization outside of the current resource which bodes well for that very ambitious goal of 5 million ounces by year end, right?

Cherie Leeden: Yeah, we're working on it. The results are excellent. We've got mineralization well and truly outside of our current resource. So it's looking optimistic that the resource will be growing somewhat at Sandman. 

Obviously, too early to know what that number is going to look like. But we'll complete this year’s program and then hand the assay results over to our resource geologist towards the end of this year. He can then crunch those numbers to see what the revised resource is looking like at the end of this 5,000 meter drill program.

Gerardo Del Real: You now have identified — and, again, you continue to hit on both two mineralization styles and targets at Sandman — can you explain that to the audience that may not be familiar with the project… how you're approaching the current drill program and what you've learned from the assays that have come into the company thus far?

Cherie Leeden: So we have learned that we've perfected our laboratory analysis technique in preparation for coarse gold. And we've gone back and forth to the lab that many times that we've now got a perfect technique for our geology. So that's all been resolved and our samples are now flowing through. 

We're expecting assay results about every 10 days moving forward until we get the remainder of this drill program collected. And the results are exactly what we want to see with the two targets, or two styles of mineralization, at Sandman. 

There's the high-grade narrow vein mineralization. There's also the broader low-grade — sort of half-gram to one-gram a tonne — mineralization that’s typically amenable to open pit mining. And that's what we've been targeting in these holes.

It's relatively shallow and close to known resources. And it's where we think we have the best chance of extending the known mineralization. Something like 30% was on the resource extension, which are these holes. And the other 70% or so is on greenfields exploration — predominantly geophysical targets. We're still drilling those ones and really looking for some of those higher-risk holes.

Gerardo Del Real: On the Phase-2, 5,000 meter RC program, it looks like 12 holes have been completed. Is that correct?

Cherie Leeden: That's correct, yeah. They’ve been a combo of the resource extension on the greenfields exploration holes. We're still waiting for the bulk of those results to come in. They're anticipated in the next two weeks or so.

Gerardo Del Real: Fantastic! Cherie, I know you're on the road. I want to thank you for the update. Anything else you'd like to add to that?

Cherie Leeden: Just looking forward to these assay results that we'll be sending through the lab over the next couple of weeks. So it should be a very telling couple of weeks and months for the company as we get all of these assay results in.

Gerardo Del Real: Well, I'm looking forward to having you back on. Thanks again for your time today.

Cherie Leeden: I appreciate it. Thank you.

Gerardo Del Real: Alright, cheers!