This positive result prompted the Company to drill a wide-spaced pattern of holes to test the target in the area between the current North Hill Mineral Resource Estimate envelope and hole SA-0007.
Observing visible gold in chips from the new target area which is located more than 70 meters outside of the current MRE is very encouraging.
GBR Holes SA-0006 and SA-0007 were drilled on either side of historic hole NSM-00330 alteration associated with a hydrothermal fluid conduit hosting gold mineralization and is co-linear with a zone of gold mineralization within the current Mineral Resource Estimate.
Fences of holes were drilled to the north of the drill section containing SA-0006, NSM-00330 and SA-0007: holes SA-00015, SA-00016 and SA-00017 were drilled on an east-west section approximately 45 m north of SA-0007; holes SA-0018, SA-0019 and SA-0020 were drilled approximately 100 m north of SA-0007, just outside the current Mineral Resource Estimate domain.
Each drill hole defined by historic drilling within the North Hill Mineral Resource Estimate, with moderate to intensely quartz-adularia altered fluvial conglomerate, sandstone, tuff and epiclastic tuff sandwiched between the Upper and Lower basaltic andesite flow and/or hypabyssal intrusive sill.
There are four known pit constrained gold resources located within the Sandman Project, consisting of 21.8Mt @ 0.7g/t gold for 494,000 ounces of gold; comprising of an Indicated Resource of 18,550kt @ 0.73g/t gold for 433kozs of gold plus an Inferred Resource of 3,246kt @ 0.58g/t gold for 61kozs of gold.
Drilling was completed using Reverse Circulation samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance.
The entire sample is dried, weighed and crushed, with 70% passing -10 mesh, then riffle split to 250g aliquots, which are fine pulverized with 85% passing -150mesh.
The company’s exploration hub is based in Nevada, USA, a top-tier mineral district that contains significant historical production, existing mining infrastructure and an established mining culture.
Gold Bull’s core asset is the Sandman Project, located in Nevada which has a 494,000 oz gold resource as per 2021 43-101 Resource Estimate.
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.