Salty Mining Legend Directing the Drill-Bit in Nevada at 500K Gold Oz & Counting

Gold Bull Resources (TSX-V: GBRC)(OTC: GBRCF) — currently trading around C$0.22 per share — has announced a new set of high-priority, multi-million ounce gold targets for its upcoming Q4 drill program at the flagship, 100%-owned Sandman Gold Project, Nevada, which currently boasts a gold resource of approximately 500,000 ounces.

The newly-enhanced exploration model is being directed, in part, by way of Gold Bull’s burgeoning relationship with legendary Nevada geologist and mine-finder, John Wood, who’s credited with the discovery of the prolific Sleeper gold deposit situated just 30 km to the north of Sandman.

A bit of history… the Sleeper open pit mine was among Nevada’s highest grade gold deposits, producing more than 1.6 million ounces of gold and over 2.3 million ounces of silver between 1986 and 1996 at an average cash cost of just US$158 per ounce gold.

Of course, way back then, gold traded at a paltry $300-$400 an ounce… and even at those depressed levels, the Sleeper deposit was still considered a major gold discovery for its time. Thus, one can only imagine the value of a gold find of that magnitude at today’s gold price of nearly $1,760 an ounce.

As is always the case in mining, the truth machines will have the final say. Yet, the new targeting model, without a doubt, has excitement written all over it for Q4. And I suspect the Gold Bull team will have Mr. Wood onsite, lending his expertise in the optimization and orientation of specific drill targets.

Gold Bull CEO, Cherie Leeden, had this to say via press release:

“To have globally renowned Advisors, locally available to us here in Nevada, such as John Wood, combined with a Sandman database worth circa $25 million dollars to replicate, is such a gift to Gold Bull. This new target horizon at the geological contact is super exciting. If there is another Sleeper deposit laying just beneath the surface at Sandman, after this next round of drilling, we should know about it.”

And advising geologist, John Wood, added:

“The size of the Sandman surface gold anomaly, at least, 15 km in length, and the apparent elevation control of the gold deposits and adularia “cap” rocks are direct indications that a very large gold-bearing hydrothermal system was active at Sandman. At the Sleeper deposit and regionally at other deposits, bonanza grade gold often occurs at the pre-Tertiary contact where gold-bearing fluids depressurize quickly and deposit high-grade gold. This horizon is not well tested at Sandman and offers an opportunity to target bonanza grade structures, essentially feeder zones to the known deposits. The target here is for relatively small but very high-grade structures like the Sleeper vein and at this stage, could reflect multi-million-ounce potential.”

On a personal note, I’ve spent a ton of time in the field in Nevada, starting as a teenager working with my father in the Carlin trend. And I can attest to the immense — if not immeasurable — benefit of having salty mining legends, like John Wood, with their decades upon decades of expertise in the local geology, directing the drill-bit.

I won’t go too much into the specifics of the new targeting model because our own Gerardo Del Real of Junior Resource Monthly caught up, in person, with Gold Bull CEO, Cherie Leeden, at last week’s Beaver Creek Precious Metals Summit for an exclusive video interview you can watch here.

Inside, Cherie details John’s almost cryptic and ongoing contributions to the company’s nuanced exploration model that’s now leading to deeper drill targets at Sandman designed to test the contact between the Tertiary volcanic rocks, which outcrop at surface, and the underlying metamorphosed Triassic basement rocks where a possible feeder zone may exist.  

Naturally, Gerardo will be hot on it as always as the drills start spinning at Sandman. Click here for a short video clip where Gerardo goes over a few of the key advantages his subscribers enjoy monthly — including specific buy-sell signals and upcoming catalysts across a variety of metals — and why he believes Q4 is shaping up to be one of the most profitable quarters he’s seen in the junior resource space.

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Also click here for our feature report on Gold Bull Resources.

Yours in profits,

 

Mike Fagan

Mike Fagan
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 readers.


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