Big Ridge Gold (TSXV: BRAU; OTC: ALVLF) has released additional results from its 25,000-metre, Phase I exploration drill program at the Hope Brook project in Newfoundland and Labrador. Hope Brook is a former mine that produced over 750,000 oz. of gold between 1987 and 1997. First Mining Gold (TSX: FF) acquired the property in 2015, and Big Ridge currently has the right to earn an 80% interest by spending $20 million over five years.
The latest results include the final drill holes in 2021 as well as those completed after the resumption of drilling in January 2022, which targeted the shallow southwestern extension of the Hope Brook deposit.
Results from 2021 drilling was highlighted by an intercept of 1.09 grams gold per tonne over 33 metres, including 4.52 grams gold over 4.1 metres. From the 2022 drilling, one drill hole intersected 1.64 grams gold over 20.8 metres, including 5.77 grams gold over 4.7 metres, and another intersected 1.41 grams gold over 15.1 metres, including 3.25 grams gold over 4.2 metres.
“Drilling continues to intercept gold and copper mineralization outside the current resource envelope to the southwest and 100% of the drill results received to date have intersected gold mineralization, suggesting Hope Brook remains open for potential resource expansion,” Mike Bandrowski, president and CEO of Big Ridge, said.
The Phase 1 drilling will continue until August, with a focus on expanding the Main and 240 zones near surface and testing the down dip extensions of both areas in the current program.
The Hope Brook deposit currently hosts indicated resources totalling 5.5 million tonnes grading 4.77 g/t gold for 844,000 oz., and inferred resources totalling 836,000 tonnes grading 4.11 g/t gold for 110,000 oz.
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