Drills Mobilizing as Additional 200K Gold-Oz Found
Gold Bull Resources (TSX-V: GBRC)(OTC: BLSSF) – currently trading at approximately C$0.50 per share – has announced a very substantial 60% resource expansion at its flagship Sandman Gold Project, Nevada, from 309,000 gold ounces to 494,000 gold ounces — all before a single turn-of-the-drill by the company.
Highlights from the newly-released resource estimate include:
- Sandman NI 43-101 resource estimate increased by 60 per cent from the 2007 estimate;
- 21.8 million tonnes at 0.7 g/t gold, comprising:
- Indicated resource of 18.55 million t at 0.73 g/t gold for 433,000 oz of gold;
- Inferred resource of 3,246,000 t at 0.58 g/t gold for 61,000 oz of gold.
- Resource extension potential -- several resources remain open in multiple directions;
- Majority of mineralization less than 100 m from surface.
Acquired in-full, last year, from industry leader Newmont Corp. (NYSE: NEM), exploration work completed at Sandman to-date has resulted in the discovery of four gold deposits and the identification of several other target areas open for exploration.
Gold Bull is making final preparations to get the drills turning on a Phase-1, 8,000-meter program at Sandman with 42 drill-targets already identified.
Gold Bull CEO, Cherie Leeden – whom you’ll be hearing more from in just a moment – commented via press release:
“This resource estimate incorporated the additional drilling that has been completed at the project since the 2007 resource estimate which totalled 309,000 ounces. Since acquiring the project from Newmont in December 2020, it is a fantastic outcome to have grown our resource base to 494,000 ounces of gold (comprised of 433,000 ounces of Indicated plus 61,000 ounces of Inferred) before we even commence our drill program! Future resource estimates may also consider silver, which tends to be associated with the gold at a ratio of about 10:1 and has not been adequately investigated yet.”
If you’ve been following our updates, you already know that Gold Bull is aiming for a very sizable resource inventory of 5 million gold ounces by year-end via a combination of strategic acquisition and exploration/drilling success.
As part of that process, and in addition to the flagship, the company has secured two high-potential US gold projects:
Big Balds Gold Project – Nevada: Drill ready with targets based on compelling 3D geophysical anomalies and located within the prolific Carlin and Bida Gold Trends.
Coyote Gold-Silver Project – Utah: Early-stage gold and silver exploration project with limited previous systematic exploration; surface samples of up to 12 grams per tonne gold and over 5,000 grams per tonne silver.
Above and beyond advancing Sandman, Big Balds, and Coyote, speculators can reasonably expect the company to acquire multiple accretive gold projects in safe mining jurisdictions this year as part of its stated resource expansion mandate — making Gold Bull one-to-watch in the junior gold space.
Our own Gerardo Del Real of Junior Resource Monthly sat down with Gold Bull CEO, Cherie Leeden, to discuss the updated resource estimate, the upcoming drill program, and the plan and process for attaining its goal of 5 million gold ounces by year-end. You can listen to the interview here.
Yours in profits,
Editor, Resource Stock Digest
Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.