- Optimized Sandman Preliminary Economic Assessment (PEA) underway targeting >35,000 ounces of gold per annum operation over 10 year mine life.
- Exploration work program revealed at Sandman focused on new Sleeper style discoveries via low-cost exploration.
- Merger and Acquisition (M&A) discussions and due diligence ongoing.
Further Optimized Scoping Study – Focused on the Existing Gold Resources
Engineering work is underway via an optimized PEA also referred to as a Scoping Study (“Study"). The new Study is focused on extracting the entire gold resource at Sandman. On
Gold Bull CEO,
Our Phase 1 PEA illustrated that Sandman represents a low-cost near term mine scenario in the tier 1 mining jurisdiction of
In addition to our current gold resource, is the immense exploration potential of this world class gold district which remains severely under explored especially given the prolific gold endowment located along the Sandman-Sleeper trend. Our team is working up some very exciting new exploration targets for testing.
2023 Exploration Program – Targeting New Multi-Million-Ounce Gold Discoveries
The exploration field program for 2023 will include low-cost technical field studies used by major gold mining companies (such as Newmont, Barrick,
In 2022, the Gold Bull geology team were focused on “Brownfields” drilling within and close to previously identified gold resources. In 2023, the geology team will focus its exploration program in search of a new “Greenfields” gold discovery within the large Sandman land package, which is already fully permitted under the existing Plan of Operation (refer to Figure 1). Gold Bull will apply cost effective spectral mineralogy analysis to search for a mineral called “buddingtonite”, which is considered a close proximity indicator of the Sleeper high grade gold vein and other high grade
Figure 1. Sandman gold bearing Northwest and North Trends depicted over a processed gravity image defining these trends. Existing gold resources are shown in red, and fully permitted Plan of Operations boundary in black.
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Figure 1 is a processed gravity image indicating the basin boundaries relative to Sandman deposits and the Northwest and North structural trends to be tested for a new deposit discovery. Understanding the basin morphology is important as they indicate areas of sag basin tectonism and potential gold bearing structures in which the basins have formed. The Northwest and North Trends are both gold bearing corridors on the Sandman property hosting the North Hill and
Field studies shall include evaluation of the prior reverse circulation drill chips and drill core as well as outcrops on the
Figure 2. Regional location map of the Sandman Property,
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The former Sleeper gold mine is located 25km north of Sandman’s northern claim boundary.
Another exploration tool which proved successful at
Figure 3. Northwest exploration target trend (white broken lines) depicted over processed gravity data, illustrating the significant extent of the under explored (barely drilled) structural corridor away from the defined deposits.
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Figure 3 depicts a processed gravity image (residual bouguer gravity total horizontal distance processing) which highlights the Northwest Trend in which the North Hill and
There is limited drilling along the North-West and North Trends at Sandman (referred to as the Northwest Exploration Target Trend). These trends are mineralized with existing deposits and align to the regional
Further evaluation of the historical Sandman surface hyperspectral data will also be conducted and compared to the surface spectral technology field results in search of an additional deposit targeting volcanic hosted structural deposits similar to North Hill and
The Sleeper-Sandman corridor is a highly endowed and underexplored terrain given the
It should be noted, it took Sleeper thirty-four (34) step out drill holes to discover the high grade gold vein system with the discovery hole returning 102m of silicified breccia that averaged 28 g/t gold and 62 g/t silver. A very persistent exploration methodology was applied by our, Technical Advisor,
There remains further opportunity to discover more high-grade ounces along the same north-south trend within the Sandman property.
M&A Activity update
The Company has executed numerous active Confidentiality Agreements concerning potential win-win mergers and/or acquisitions. The current focus is on undervalued gold properties located in
ABOUT SANDMAN
In
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The technical information in this news release has been reviewed and approved by Mr.
ABOUT
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
Gold Bull’s core asset is the
Gold Bull is driven by its core values and purpose which includes a commitment to safety, communication & transparency, environmental responsibility, community, and integrity.
President and CEO,
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Cautionary Note Regarding Forward-Looking Statements
Neither the
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 planned activities at the
Figure 1
Sandman gold bearing Northwest and North Trends depicted over a processed gravity image defining these trends. Existing gold resources are shown in red, and fully permitted Plan of Operations boundary in black.Figure 1 is a processed gravity image indicating the basin boundaries relative to Sandman deposits and the Northwest and North structural trends to be tested for a new deposit discovery. Understanding the basin morphology is important as they indicate areas of sag basin tectonism and potential gold bearing structures in which the basins have formed. The Northwest and North Trends are both gold bearing corridors on the Sandman property hosting the North Hill and Silica Ridge deposits and Southeast pediment and Abel Knoll deposits. Very little exploration has been conducted historically along these trends.
Figure 2
Regional location map of the Sandman Property, Nevada, USA relative to nearby town Winnemucca and other surrounding significant gold projects, active and historical.
Figure 3
Northwest exploration target trend (white broken lines) depicted over processed gravity data, illustrating the significant extent of the under explored (barely drilled) structural corridor away from the defined deposits. Figure 3 depicts a processed gravity image (residual bouguer gravity total horizontal distance processing) which highlights the Northwest Trend in which the North Hill and Silica Ridge deposits are located, the target polygon to the west in which Adularia Hill is located, may form a western basin graben along a tectonic trend, which is largely untested by drilling, and not previously targeted. Further detailed assessments are required for this part of the Northwest Trend at the Sandman property to discover another gold deposit at Sandman.
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