Junior Firm Acquires Gold Project from Newmont & Hits on Very First Drill Hole
by Mike Fagan
Gold Bull Resources (TSX-V: GBRC)(OTC: BLSSF) closed Monday’s trading session up 17% at C$0.43 per share on strong trading volume following the release of assays from the first of seventeen planned reverse circulation (RC) holes at its flagship Sandman Gold Project, Nevada — highlighted by 1.67 grams per tonne (g/t) gold over 144.8 meters.
That highlight intercept also included shorter, higher-grade intervals of:
- 2.23 g/t gold over 97.5 meters
- 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 via press release:
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.
As noted above, phase-one drilling is off to an auspicious start and will consist of 17 RC holes totalling approximately 3,000 meters. A phase-two, 5,000 meter program will immediately follow and will be guided, in part, by assay results from phase one.
Gold Bull is aiming to build 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:
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.
If this first intercept from Sandman is any indicator of the type of widths and grades the company can reasonably expect going forward, speculators could be in for some exciting news flow over the coming weeks and months as momentum builds by way of the drill.
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 and the company’s unwavering commitment to ensuring quick turnaround times on assays. Join the conversation here (transcript is also available).
Also, click here for our brand 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.