HIGHLIGHTS & UPDATE:
- Drill hole SA-0004 intersected 10.7m @ 3.28 g/t Au from 19.8m and 13.7m @ 10.95 g/t Au from 41.1m, including:
- 3.0m @ 31.57 g/t Au from 44.2m
- Drill hole SA-0005 intersected 9.1m @ 4.94 g/t Au from 50.3m and 6.1m @ 0.55 g/t Au from 22.9m including:
- 4.6m @ 9.53 g/t Au from 53.3m
- Drill hole SA-0002 intersected 25.9m@ 4.48 g/t Au from the surface (0.0m)
- Including 1.5m @ 55.33 g/t Au from 22.86m and 12.2m @ 0.95 g/t Au from 32.0m
- These results extend gold mineralization to the west
- Mineralization remains open in several directions
- Drilling at Sandman is ongoing – more assay results expected soon
Gold Bull CEO,
“North Hill is a particularly important oxide zone within our Sandman Mineral Resource. The recent drill holes have confirmed several sweet spots (such as these recent shallow drill hits of 1.5m@55g/t Au and 4.6m @ 9.53g/t Au). These recent drill holes have also confirmed the extent and continuity of the high-grade positions that are relatively shallow dipping and parallel to the stratigraphy. These results increase our confidence in high grade zones that will form a focus in a future economic study of the project.”
Background
Gold mineralization at North Hill occurs in shallow dipping, bedding parallel domains. The higher concentrations and more extensively defined mineralized zones are associated with either the upper or lower contact position of a basalt unit, within the broader Tertiary felsic volcanic rocks.
All drill holes at North Hill have confirmed the interpretation and continuity of several shallow and high-grade positions within the Mineral Resource estimate. Of note, historic drill hole NSM-00189, which intersected 14.1m @ 6.76g/t from 19.1m and 11.4m @ 40.3g/t from 37m, was confirmed by drill hole SA-0004, which intersected the relatively flat lying extensions of both intersections for 10.28m @ 3.28g/t from 19.8m and 13.7m @ 10.95g/t from 41.1m respectively (see cross section Figure 1and plan view Figure 2). Adjacent historic hole NH06-0082 had intersected lower grade mineralization in the same domains, so the result from SA-0004 provides important confirmation of the high-grade intersections in NSM-00189.
Figure 1 Cross section showing results from recent holes SA-0003 and SA-0004 at North Hill:
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Figure 2 North Hill Mineral Resource domains with locations of recent drill holes and line of section shown in Figure 1 above:
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All gold mineralization at North Hill discovered to date is strata-bound in nature. The structure that formed a conduit for mineralizing fluids, which often contains bonanza grades in this deposit style, has not yet been located. Future drilling will focus on locating this target and lateral extensions to the North Hill deposit, which remains open in several directions.
Hole ID | From (m) | To (m) | Width (m) | Gold ppm (Au g/t) |
SA-0002 | 0.0 | 25.9 | 25.9 | 4.48 (using 0.2 g/t Au cut-off) |
SA-0002 | 32.0 | 44.2 | 12.2 | 0.95 (using 0.2 g/t Au cut-off) |
SA-0003 | 15.2 | 21.3 | 6.1 | 1.81 (using 0.2 g/t Au cut-off) |
SA-0003 | 36.6 | 39.6 | 3.0 | 0.77 (using 0.2 g/t cut-off) |
SA-0004 | 19.8 | 30.5 | 10.7 | 3.28 (using 0.2 g/t Au cut-off) |
SA-0004 | 41.1 | 54.9 | 13.7 | 10.95 (using 0.2 g/t Au cut-off) |
including | 44.2 | 47.2 | 3.0 | 31.57 (using 5 g/t Au cut-off) |
SA-0005 | 22.9 | 29.0 | 6.1 | 0.55 (using 0.2 g/t Au cut-off) |
SA-0005 | 50.3 | 59.4 | 9.1 | 4.94 (using 0.2 g/t Au cut-off) |
including | 53.3 | 57.9 | 4.6 | 9.53 (using 5 g/t Au cut-off) |
Table 1 Significant intercepts in drill holes
Hole ID | Total depth (m) | Easting | Northing | Elevation | Coordinate system | Azimuth collar | Dip collar |
SA-0002 | 76.2 | 414921 | 4548600 | 1368 | 90.3 | -59.9 | |
SA-0003 | 76.2 | 414900 | 4548581 | 1369 | 89.2 | -57.8 | |
SA-0004 | 76.2 | 414933 | 4548580 | 1372 | 90 | -60 | |
SA-0005 | 106.7 | 414903 | 4548538 | 1371 | 85.4 | -59.0 |
Table 2 Drill hole collar information for holes
Figure 3 Drill hole location for holes
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About Sandman
In
Qualified Person
Quality Assurance – Quality Control
Drilling was completed using Reverse Circulation (RC) drilling utilizing double wall drill pipe, interchange hammer and 4¾ inch hammer bits to drill and sample the rock formation. Samples were taken over 5 foot intervals (1.52m) and were collected after separation of the sample using a rotary splitter situated at the base of the cyclone. A small portion of the rock chips for each 5 foot interval was placed into chip trays for record keeping and geological logging. The samples bagged at the rig were taken to
Samples are submitted to American Assay Laboratories’ analytical facility in
About
Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success. Gold Bull’s objective is to generate stakeholder value and superior investment returns through the discovery and responsible development of mineral resources.
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,
For further information regarding
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 obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Figure 1
Cross section showing results from recent holes SA-0003 and SA-0004 at North Hill
Figure 2
North Hill Mineral Resource domains with locations of recent drill holes and line of section shown in Figure 1 above
Figure 3
Drill hole location for holes SA-0002, SA -0003, SA-0004 and SA-0005
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