Gold Bull

Gold Bull intersects 83.8m at 1.5 g/t Au from surface, including 3m at 14.67g/t Au, defining significant extension of higher-grade oxide zone within the Silica Ridge deposit at Sandman

Gold Bull Resources Corp. (TSX-V: GBRC) (“Gold Bull” or the “Company”) is pleased to report excellent reverse circulation (RC) drill results from its 100% owned Sandman Project, located in Humboldt County, Nevada USA. Two drill holes were completed at Silica Ridge (Figure 1), and both holes successfully hit high-grade gold intersections. The recent drill results returned 83.8m (275 ft) @ 1.50 g/t gold (Au) from 0m/surface in hole SA-0052 and 47.2m (155 ft) @ 1.54 g/t Au from 1.5m (5 ft) in hole SA-0044. Of note, a high-grade intersection of 3m @ 14.67 g/t Au from only 1.5m below the surface was successfully hit. These results demonstrate the significant extent of gold mineralization from surface at the Sandman gold project and provide confidence for the Company to initiate a Scoping Study that will investigate the economic viability of various near-term production scenarios at Sandman upon completion of the current drill program.

Highlights & Update:

  • Targeted structures returned significant drill intersections of 83.8m of gold mineralization grading 1.50g/t Au from surface (0m) including very high-grade interval of 3m @ 14.67 g/t Au from 1.5m in hole SA-0052
  • Hole SA-0044 returned 47.2m of gold mineralization grading 1.54g/t Au from 1.5mincluding 6.1m @ 8.01g/t Au from 3m
  • Gold-bearing fault structures were targeted, and further drilling is warranted to further define the geometry of these mineralized faults
  • The depths and grades for a potential open-pit extraction method remain encouraging with mineralization from surface and this will be investigated via a Scoping Study in Q3, 2022
  • Drilling is ongoing and the Company remains fully funded

Gold Bull CEO, Cherie Leeden commented:

The consistency of high-grade oxide mineralization over tens of meters at Silica Ridge is very encouraging and is reason to investigate near-term production scenarios at Sandman. The high-grade intervals in these two holes, such as 3m at 14.67 g/t Au in one hole and 6.1m @ 8.01 g/t Au in the other hole - both within the top 10m from the surface indicates sweet spots that will be investigated in a Scoping Study for potential mine start-ups. Both holes hit zones grading 8 g/t gold over 6-meter widths! I feel that Gold Bull is significantly undervalued given the quality of the Sandman gold project which continues to deliver via our ongoing drill program.

Background

Drill hole SA-0052 was planned with a twofold objective of testing interpreted mineralizing fluid conduits at depth near the Tertiary unconformity for high-grade veins and providing improved definition of a high-grade zone within the current Mineral Resource Estimate. The high-grade zone had been intersected by SA-0044, which returned 47.2 m (155 ft) @ 1.54 g/t Au from 1.5 m (5 ft), including 6.1m (20 ft) @ 8.01 g/t Au from 3m (10 ft) and 1.5 m (5 ft) @ 1.15 g/t from 24.4m (80 ft), as well as 1.5 m (5 ft) @ 0.21 g/t Au from 114.3 m (375 ft). Drill hole SA-0052 extended this zone, returning 83.8 m (275 ft) @ 1.50 g/t Au from 0 m (0 ft), including 13.7 m (45 ft) @ 4.52 g/t Au from 0 m (0 ft), which includes 3 m (10 ft) @ 14.67 g/t Au from 1.5 m (5 ft), and 1.5m (5ft) @ 15.53 g/t Au from 1.5m (5 ft), as well as 3 m (10 ft) @ 2.75 g/t Au from 36.6 m (120 ft), 16.8 m (55 ft) @ 3.05 g/t Au from 65.5 m (215 ft), and 6.1 m (20 ft) @ 8.24 g/t Au from 71.6 m (235 ft).

Below these high-grade intersections in hole SA-0052 are numerous narrow, low-grade mineralized intersections within a zone extending over most of the lower part of the drill hole, into the Triassic basement rocks (refer to the cross-section in Figure 2). This broad zone of gold mineralization supports our belief that high-grade feeder structures exist below the current Mineral Resource estimate close to this drill hole. Further drilling is needed to define these structures, particularly below the current Mineral Resource Estimate.

Figure 1. Silica Ridge drill hole collar location plan for SA-0044 and SA-0052 as well as 2021 Resource Outline surface projection, interpreted faults and drill collars.
https://www.globenewswire.com/NewsRoom/AttachmentNg/410e8a4a-1e0c-4e69-ae19-e06c890a7a68

Figure 2. Cross-section showing drill hole SA-0044 and SA-0052 gold intercepts. Mineralization in hole SA-0052 extends beneath the existing resource outline to the basement contact at 192m hole depth.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ebb9ef7c-099e-4a29-93d6-c0518c579c34

Table 1 Significant intercepts from SA-0044 and SA-0052

Hole IDFrom
(m)
To
(m)
Width
(m)
From
(ft)
To
(ft)
Width
(ft)
Gold grade
g/t
SA-0052083.883.802752751.5
including013.713.7045454.52
Including1.54.535151014.67
and36.639.63120130102.75
and65.582.316.8215270553.05
and71.677.76.1235255208.24
SA-0052112.8115.83370380100.27
SA-0052134.1135.61.544044550.53
SA-0052140.2141.71.546046550.23
SA-0052160161.51.552553050.22
SA-0052166.1169.23545555100.30
SA-0052170.7172.21.556056550.32
SA-0052189190.51.562062550.21
SA-00441.548.747.251601551.54
including39.16.11030208.01
and24.425.91.5808551.15
SA-0044114.3115.8115.837538050.21

Figure 3. Sandman project location map showing location of Silica Ridge deposit and results from recently drilled holes SA-0044 and SA-0052.
https://www.globenewswire.com/NewsRoom/AttachmentNg/acaa6c49-2f63-423a-a603-f904bad3c47a

Next steps

  • The current 5,000 m drilling program at Sandman is ongoing. Assays will be received over the next several months and the deposits will be re-evaluated for additional ounces.
  • Upon receipt of all
  • the assay results, the Company intends to commence a Scoping/Concept Study that will investigate the economic viability of various near term production scenarios, with the aim of providing a focussed approach for a PEA and/or PFS.

About Sandman

In December 2020, Gold Bull purchased the Sandman Project from Newmont. Gold mineralization was first discovered at Sandman in 1987 by Kennecott and the project has been intermittently explored since then. There are four known pit constrained gold resources located within the Sandman Project, consisting of 21.8Mt at 0.7g/t gold for 494,000 ounces of gold; comprising of an Indicated Resource of 18,550kt at 0.73g/t gold for 433kozs of gold plus an Inferred Resource of 3,246kt at 0.58g/t gold for 61kozs of gold. Several of the resources remain open in multiple directions and the bulk of the historical drilling has been conducted to a depth of less than 100m. Sandman is conveniently located circa 25-30 km northwest of the mining town of Winnemucca, Nevada.

Qualified Person

Cherie Leeden, B. Sc Applied Geology (Honors), MAIG, a “Qualified Person” as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company’s Chief Executive Officer. Cherie Leeden relied on resource information contained within the Technical Report on the Sandman Gold Project, prepared by Steven Olsen, a Qualified Person under NI 43-101, who is a Qualified Persons as defined by the National Instrument NI 43-101. Mr. Olsen is an independent consultant and has no affiliations with Gold Bull except that of an independent consultant/client relationship. Mr. Olsen is a member of the Australian Institute of Geoscientists (AIG) and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects.

Quality Assurance – Quality Control

Samples are submitted to American Assay Laboratories’ analytical facility in Sparks, Nevada for preparation and analysis. The AAL facility is ISO-17025 accredited by IAS. The entire sample is dried, weighed and crushed, with 70% passing -10 mesh, then riffle split to 250 g aliquots, which are fine pulverized with 90% passing -150mesh. Analysis for gold is by 30 g fire assay lead collection with Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES) finish with a lower limit of 0.003 ppm. Samples were also analyzed using a 36 multi-element geochemical package by 5-acid digestion, followed by Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES) for the 36 elements.

About Gold Bull Resources Corp.

Gold Bull’s mission is to grow into a US-focused mid-tier gold development Company via rapidly discovering and acquiring additional ounces. The Company’s exploration hub is based in Nevada, USA, a top-tier mineral district that contains significant historical production, existing mining infrastructure and established mining culture. Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success.

Gold Bull’s core asset is the Sandman Project, located in Nevada which has a 494,000 oz gold resource as per the 2021 43-101 Resource Estimate. Sandman is located 23 km south of the Sleeper Mine and boasts excellent large-scale exploration potential. Drilling at Sandman is currently underway.

Gold Bull is driven by its core values and purpose which include a commitment to safety, communication & transparency, environmental responsibility, community, and integrity.

Cherie Leeden
President and CEO, Gold Bull Resources Corp.

For further information regarding Gold Bull Resources Corp., please visit our website at www.goldbull.ca or email adminatgoldbull.ca.

Phone: 778.899.3050

Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.


Click here to connect with Gold Bull Resources Corp. (TSX-V: GBRC) to receive an Investor Presentation

Source

GBRC:CA
The Conversation (0)

The Power Play by The Market Herald Releases Interviews With Datametrex and Gold Bull Resources Corp.

The Power Play by The Market Herald has announced the release of new interviews with Datametrex and Gold Bull Resources Corp. on their latest news

The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company's latest press release through exclusive insights and interviews with company executives.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Gold Bull update - Sandman drill program going well

Gold Bull update - Sandman drill program going well

Gold Bull Resources Corp. (TSX-V: GBRC) (" Gold Bull " or the " Company ") is pleased to report that the drilling program is progressing as planned at its 100% owned Sandman Project (" Sandman " or the " Project ") located in Humboldt County, Nevada, USA. Assays from the initial batch of samples submitted to the laboratory are anticipated to be received in March.

HIGHLIGHTS & UPDATE:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Outback Goldfields Welcomes George Salamis as Strategic Advisor

Outback Goldfields Welcomes George Salamis as Strategic Advisor

Outback Goldfields Corp. (TSXV: OZ) (OTC Pink: OZBKF) (the "Company" or "Outback") is pleased to announce that, further to its announcement of the Letter of Intent to acquire S2 Resources' gold assets located in the Central Lapland district of Finland (see March 1, 2024 news release), Mr. George Salamis has agreed join Outback as a strategic and technical advisor.

Mr. Salamis offers a wealth of technical and strategic expertise in the Central Lapland district, having worked as Vice President of Riddarhyttan Resources AB and advancing what is now known as the Kittilä Mine until its sale to Agnico Eagle in 2006. The Kittila mine is Europe's largest producing gold mine, originally discovered by the Finish Geological Survey (GTK) in the late 1990's and then sold to Riddarhyttan as a small, shallow resource of less than 300,000 ounces of gold1. Riddarhyttan conducted extensive drilling and engineering studies on the project, growing it to over 2.8 million ounces of contained gold by 20041. Agnico went on to acquire Riddarhyttan in 2005 and since then, has identified over 7.9 million ounces of gold resources on the project1. In 2023, the Kittila mine produced 234,402 ounces of gold, and is expected to produce 230,000 ounces in 20242.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Kestrel Gold - Grants Centerra Gold the Option to Earn a 75% Interest in the QCM Gold Property

Kestrel Gold Inc. ("Kestrel" or the "Corporation,"(TSXV:KGC) is pleased to announce the signing of an option agreement ("Agreement") with Thompson Creek Metals Inc. a wholly owned subsidiary of Centerra Gold Inc. ("Centerra"), whereby Centerra is granted the option to earn a 75% interest in the QCM gold property ("QCM") located in the in the Manson-Germanson area of central British Columbia

Rob Solinger, President and CEO of Kestrel, states: "We are pleased to have signed this Agreement which will see QCM advanced by a well funded and technically strong option partner. Positive results from previous reverse circulation drilling by the Corporation at QCM, combined with continued strength in the price of gold and Centerra's decision to enter into this Agreement reinforces Kestrel's belief in QCM."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Titan Minerals

More High-Grade Gold & Silver Confirmed at Dynasty Project

Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide an update on the Company’s 100% held Dynasty Gold Project (Dynasty) in southern Ecuador, where it has been conducting extensive field based exploration including mapping and surface geochemical sampling.

Keep reading...Show less
  Iceni Gold Limited

Spectacular Vein Gold Discovery Expands Christmas Gift Shear

Iceni Gold Limited (ASX: ICL)(Iceni or the Company) is pleased to provide an exploration update on the recent work conducted on the 14 Mile Well Gold Project.

Keep reading...Show less
Many Peaks

Cote d’Ivoire Acquisition Completes

Many Peaks Minerals Limited (Many Peaks or the Company) (ASX: MPK) is pleased to advise that it has completed its acquisition of 100% ownership of CDI Holdings (Guernsey) Ltd from Turaco Gold Ltd (‘Turaco’) and Predictive Discovery Ltd (‘Predictive’), which holds the right to acquire an 85% interest in four mineral permits in Cote d’Ivoire, with recent gold discoveries and over US$4 million in prior exploration expenditure.

Keep reading...Show less
Spartan Resources

Surface Drilling Continues to Unlock High-Grade Underground Potential

Latest high-grade assays include the deepest-ever result from the Dalgaranga Project; Spartan set to develop underground exploration drill drive; High-grade resource growth potential multiplied as new Pepper discovery grows

Spartan Resources Limited (Spartan or Company) (ASX:SPR) is pleased to provide an update on exploration and development activities at its 100%-owned Dalgaranga Gold Project (“DGP”), located in the Murchison region of Western Australia.

Keep reading...Show less

Latest Press Releases

Related News

×