by Mike Fagan
Gold Bull Resources (TSX-V: GBRC)(OTC: GBRCF) — currently trading around C$0.45 per share — is reporting improved gold grades from drill hole re-assays from the North Hill and Abel Knoll targets at the flagship Sandman Gold Project, Nevada.
Gold Bull made the decision to re-assay certain high-grade samples associated with coarse gold to ensure repeatable assay results suitable for inclusion in the company’s forthcoming mineral resource estimate for Sandman.
Results thus far have been favorable; hole SA-0004 at North Hill returned 19.76 grams per tonne gold over 13.7 meters after previously returning a grade of about half that at 10.95 g/t.
Gold Bull CEO, Cherie Leeden — whom you’ll be hearing more from momentarily — commented via
press release:
“After observing visible gold in RC chips, and reviewing the repeatability of some field duplicate samples, it became apparent that the Company needed to investigate our laboratory technique. By improving the quality of our laboratory technique to suit our coarse gold geology at Sandman, we have an opportunity to include mineralization in the mineral resource estimate that might otherwise have been excluded, while also improving the accuracy of data used in the mineral resource estimate. The re-analysis with this different lab technique is indicating a significant increase in gold values in most samples which leads me to believe, some of the coarse-grained gold may have been getting missed in our original laboratory technique. Additional re-assaying is currently underway to rectify this, and we will report the new results to the market as we receive them.”
Kudos to the Gold Bull team for their efforts in seeking out proper geochemical analysis for its samples and for taking the additional lab time necessary to produce assay results the industry, market, and GBRC/GBRCF shareholders can rely upon.
With that crucial information now in-hand, Gold Bull is moving straight into the next 5,000 meters of drilling at its 100%-owned Sandman Gold Project — acquired last year from industry-leader Newmont Corp. (NYSE: NEM) — with full confidence in the assaying process.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Gold Bull CEO, Cherie Leeden, to discuss the improved lab techniques, the upcoming phase-two drill program, and a brief update from the M&A front.
Be sure to also click here for our feature report on Gold Bull Resources.
Yours in profits,
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 and Hard Asset Digest readers.