Hitting High-Grade at Prior-Owned Newmont Gold Project
by Mike Fagan
Gold Bull Resources (TSX-V: GBRC)(OTC: BLSSF) — currently trading below C$0.50 per share — has released assay results from four RC holes at the North Hill target of its flagship Sandman Gold Project, Nevada, highlighted by 10.95 grams per tonne (g/t) gold over 13.7 meters.
Gold Bull acquired the Sandman project in-full last year from industry-leader Newmont Corp. (NYSE: NEM) and has systematically increased the resource from 309,000 to 494,000 gold ounces.
The four holes referenced above are part of a phase-one, 17-hole program across multiple targets at Sandman totaling approximately 3,000 meters. Phase-two will immediately follow and is slated for 5,000 meters.
As noted, today’s results are from the North Hill target. Last week, the company reported an initial intercept from the Abel Knoll target of 1.67 grams per tonne (g/t) gold over 144.8 meters including shorter, higher-grade intervals of 2.23 g/t gold over 97.5 meters and 10.75 g/t gold over 6.1 meters.
Gold Bull CEO, Cherie Leeden — whom you’ll be hearing more from in just a moment — commented on the results via press release:
“North Hill is a particularly important oxide zone within our Sandman Mineral Resource. The recent drill holes have confirmed several sweet spots (such as these recent shallow drill hits of 1.5m@55g/t Au and 4.6m @ 9.53g/t Au). These recent drill holes have also confirmed the extent and continuity of the high-grade positions that are relatively shallow dipping and parallel to the stratigraphy. These results increase our confidence in high grade zones that will form a focus in a future economic study of the project.”
The Gold Bull team is focused on drilling as many gold ounces as possible at Sandman this year before moving into feasibility studies next year.
The company is also advancing its Big Balds Gold Project in Nevada and its Coyote Gold-Silver Project in Utah and is actively seeking out additional accretive acquisitions in other tier-1 mining jurisdictions.
Our own Gerardo Del Real of Junior Resource Monthly sat down with Gold Bull CEO, Cherie Leeden, for an update on the current drill program at Sandman. You can listen in to that interview here.
Be sure to also click here for our new report on Gold Bull Resources.
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.