Gold Bull Resources Corp. reported an update on its ongoing mine economic studies and exploration program at its 100% owned Sandman Project located in Humboldt County, Nevada, USA. Engineering work is underway via an optimized PEA also referred to as a Scoping Study.

The new Study is focused on extracting the entire gold resource at Sandman. On October 27th 2022, the Company released details of a PEA which focused on an accelerated mine scenario via only extracting the gold resources located above the water table over five years. This prior PEA excluded approximately half of the known gold ounces, which are located below the water table.

The updated PEA in progress will analyze the economics of the entire resource and is focused on a ten year mine life to produce circa 35,000 ounces of gold per annum. The optimized PEA is expected to be received in early Second Quarter 2023. The exploration field program for 2023 will include low-cost technical field studies used by major gold mining companies to test for a new gold discovery at the Sandman Project.

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. 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 Nevada gold deposits.

This approach has not previously been applied at Sandman however comes recommended via, Technical Advisor, John Wood who discovered the Sleeper deposit.