Big Ridge Gold – Key Takeaways From The Recent Acquisition of Gold Island And General Exploration Strategy For 2023
Mike Bandrowski, President and CEO of Big Ridge Gold (TSX.V:BRAU – OTCQB:ALVLF), joins us to unpack the key takeaways from the recent acquisition of Gold Island Inc, creating a premier Newfoundland-based exploration Company, with significant defined gold & copper resources.
This transaction adds 3 new exploration projects to the company’s growing pipeline of exploration targets and also adds approximately CAD$4.0 million in working capital. Additionally, this brings in several strategic shareholders, including Eric Sprott, The PowerOne Capital Group, Shawn Ryan, and a number of leading and highly sophisticated financial institutional shareholders, and high net worth investors. We have Mike outline the prospectivity of these new exploration properties as well as any minimum spending or work requirements.
Next we honed in on the flagship Hope Brook Project, located in southwestern Newfoundland, where the Project has a Global Mineral Resource Estimate showing 1.2 Million Ounces grading 2.32 g/t Au in Indicated and 231,000 Ounces grading 3.24 g/t Au in Inferred categories. This underpins the value of the company with an overall 1.4 million ounces of gold in all categories. While the majority of the indicated resources have be defined at the Main Zone, the exploration team still feels there are plenty of drill targets around the 240 Zone and the for a growing underground mining scenario, beyond the 1 million ounces now in the open-pit resources. In addition, there are 13 exploration targets the their team has identified for exploring for additional open pits that could be brought into a future mine plan, and 4 regional targets in particular that will likely get some work this year looking to make a new discovery.
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.