Big Ridge Gold – Phase One 51% Earn-In At The Hope Brook Gold Project And Exploration Update
Mike Bandrowski, President and CEO of Big Ridge Gold (TSX.V:BRAU – OTCQB:ALVLF), joins us to outline the Phase One 51% earn-in on their option from First Mining at the Hope Brooke Gold Project in Newfoundland, as well as an exploration update. They are 2 years ahead of schedule on earning into this project, so they now have until 2026 to complete the Phase Two earn-in taking them up to 80% ownership.
Around 60 holes that have been drilled, so far from the Phase 1, 25,000 meter drill program, with 31 of 33 holes intersecting gold mineralization, and another 30+ holes to still report over the next 2 months. We discussed the grade, widths of recent and prior intercepts, and some of the deeper drilling underway working on connecting the Main Zone and 240 Zone. Another area outlined by Mike was the copper grades showing up in drill assays, and pointing to how there were copper credit when the mine at the Main Zone was in historic production.
After all the drill results from Phase 1 have been released, then the Company will be working on updating their resource estimate for the beginning of 2023, and then after that working on the Preliminary Economic Assessment (PEA). We discuss some of the ongoing work the company will be engaged with along with the work the engineering firm will completing to get things in place for that economic study to be released the middle of next year.
If you have any follow up questions for Mike regarding the Big Ridge Gold, then please email us at Fleck@kereport.com and Shad@kereport.com.