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Gold Bull drills 144.8 m of 1.67 g/t Au at Sandman
2021-03-22 06:04 ET - News Release
Ms. Cherie Leeden reports
GOLD BULL INTERSECTS 144.8M AT 1.67G/T GOLD, INCLUDING 6.1M AT 10.75G/T GOLD IN MAIDEN DRILL HOLE AT SANDMAN
Gold Bull Resources Corp. has released assay results for the first hole drilled in 2021 at its 100-per-cent-owned Sandman project located in Humboldt county, Nevada. The company has commenced a phase 1 reverse circulation (RC) drill program consisting of 3,000 metres for 17 drill holes. Hole SA0001 at the Abel Knoll resource was designed to test the depth extension, width and grade of the mineralized diatreme breccia in the vicinity of a historic drill hole that ended in high-grade gold mineralization (AK06-023 ended in 9.6 grams per tonne gold).
Highlights and update:
- Drill hole SA0001 intersected 144.8 m at 1.67 g/t Au from 65.5 m including:
- 6.1 m at 10.75 g/t Au from 143.3 m;
- 97.5 m at 2.23 g/t Au from 96 m.
- Gold mineralization remains open at depth.
- Mineralization appears almost entirely oxidized.
- Drilling at Sandman is continuing; more assay results are expected soon.
Gold Bull chief executive officer Cherie Leeden commented: "This is a sensational result and is an outstanding start to our first drill program at Sandman. The mineralization intersected in SA0001 extended further downhole than predicted by the current resource model, which had assumed that the diatreme breccia was narrowing. The high-grade zone of 6.1 m at 10.75 g/t is located toward the centre of the diatreme body and has not been closed off by drilling at depth."
Background
Gold mineralization at Abel Knoll is hosted within a near vertically plunging polylithic diatreme breccia body composed of vesicular to aphanitic andesite, basement phyllites and quartzites, tuffaceous wall rocks, and trace Mesozoic granodiorite within an ash and crystal fragment matrix. The Abel Knoll geology is unlike any of the other mineral resources located within the project.
Drill hole SA0001 was designed to determine the extent of the Abel Knoll mineralized diatreme breccia body in the vicinity of historic hole AK06-0023, which ended at 198 m (650 feet) in material grading 9.6 g/t Au. This hole (AK06-0023) had been drilled down the plunge of a high-grade zone, so SA0001 was intended to sample a more representative cross-section of the entire width of the breccia body.
Hole SA0001 intersected the diatreme breccia from 67.1 m to 187.5 m downhole before passing into Triassic phyllite country rock to end of hole. A mineralized interval of 144.8 m at 1.67 g/t Au from 65.5 m downhole corresponds to the diatreme breccia and zones of mineralized basalt and phyllite at the margins. This zone includes 97.5 m at 2.23 g/t Au from 96 m (using one g/t Au cut-off), which includes 6.1 m at 10.75 g/t Au from 143.3 m (using five g/t Au cut-off). The diatreme breccia intersected by this hole consists almost entirely of oxide material, with some narrow zones of transition and sulphide material.
Additional drilling is warranted at Abel Knoll to further investigate these high-grade results and to close off the resource.
SIGNIFICANT INTERCEPT SUMMARY OF DRILL HOLE SA0001 From To Gold ppm (m) (m) (Au g/t) 65.5 210.3 1.67* (using 0.2 g/t Au cut-off) including 96 193.55 2.23* (using one g/t Au cut-off) 143.25 149.35 10.75 (using five g/t Au cut-off) * Drill hole intersection includes a 4.6 m interval (123.4 m to 128.0 m) where the hole intersected a void and no sample was recovered therefore zero g/t Au was used for that interval.
About Sandman
In December, 2020, Gold Bull purchased the Sandman project from Newmont. There are four known pit-constrained gold resources located within the Sandman project, consisting of 21.8 million tonnes at 0.7 g/t gold for 494,000 ounces of gold; comprising of an indicated resource of 18,550 thousand tonnes at 0.73 g/t gold for 433 thousand oz of gold plus an inferred resource of 3,246 kt at 0.58 g/t gold for 61 koz of gold. Several of the resources remain open in multiple directions and the bulk of the historical drilling has been conducted to a depth of less than 100 metres. Sandman is conveniently located circa 25 to 30 km northwest of the mining town of Winnemucca, Nev.