Big Ridge Gold – Phase 1 Drilling And Improved Project Metrics Leading Towards Key Update To Hope Brook Resource Estimate
Mike Bandrowski, President and CEO of Big Ridge Gold (TSX.V:BRAU – OTCQB:ALVLF), joins us to outline how the Phase 1 drilling and improved metrics are leading towards a key update to the Resource Estimate at the Hope Brook Project, in Newfoundland. The maiden resource was last updated in 2014, but with gold price assumptions at $1200 and, at that time, not including any of the copper. By using a gold price closer to $1600, it will allow for a lower cutoff, and should positively impact the resource, in addition to the inclusion of near 20,000 meters of drilling completed during the Phase 1 exploration program. Factoring in the copper reported back in assays are meaningful for the eventual Project economics and could help offset many of the input costs.
Next, we discussed the 16 remaining holes yet to report from the drilling near Hope Brook, and that those will be released over the balance of the year. We wrapped up discussing the completion in September of the Phase One 51% earn-in on their option from First Mining at the Hope Brooke Gold Project. 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. There are 10 holes to report soon from the Destiny project.
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.