Big Ridge Announces Additional Results from Hope Brook Phase I Drill Program
Big Ridge Announces Additional Results from
Hope Brook Phase I Drill Program
Toronto, Ontario--(Newsfile Corp. - April 26, 2022) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB:
ALVLF) ("
Big Ridge
") is pleased to announce additional diamond drill results from its 25,000-meter
("m"), Phase I exploration drill program at the past-producing Hope Brook Gold Project, located in
southwestern Newfoundland and Labrador. The drill holes reported in this press release are from the
final drill holes completed in 2021 as well as results from drill holes completed after the resumption of
drilling in January 2022 that targeted the shallow southwestern extension of the Hope Brook Deposit.
Mike Bandrowski, President & CEO of Big Ridge, commented, "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."
Highlights:
Drill hole HB-21-148 intersected 1.09 g/t Au over 33.0 m
including 4.52 g/t Au over 4.1 m
, Drill
hole HB-22-158 intersected 1.64 g/t Au over 20.8 m
including 5.77 g/t Au over 4.7 m
and Drill
hole HB-22-159a intersected 1.41 g/t Au over 15.1 m
including 3.25 g/t Au over 4.2 m.
Drilling continues to intersect gold and extend mineralization outside and along the projected trend
of the current resource envelope that is based on a gold price of US$1,200 per ounce and 3.0 g/t
Au cut-off grade.
The Phase 1 drill program continues 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.
100% of the drill results received to date have intersected gold mineralization. The Phase 1 drill
program is expected to run until August 2022 and will focus on connecting the Main Zone and 240
Zone near surface and at depth respectively and testing the down dip extensions to both the Main
and 240 Zones before moving to test the NE Extension.
Phase I Results
Results from the Phase I drill program continue to extend gold and copper mineralization to the
southwest of the former producing Hope Brook open pit.
The holes reported in the press release confirm
near-surface mineralization in an untested gap in the current resource envelope and show the deposit
remains open to the southwest.
Copper mineralization which was recovered by past mine operators as a by-product credit and is known
to be associated with gold mineralization at Hope Brook, has not been included in the historic resource
estimates. Big Ridge's initial drill results have generated copper assays ranging from 0.05% Cu to
0.90% Cu in 15 of the 23 holes reported to date.
Table 1 - Significant Intercepts from Reported Holes
Hole
From
(m)
To
(m)
length
(m)
(1)
Au g/t
(
2
)
Cu %
(2)
Interval Lithology
HB-21-
148
93.5
96.1
2.6
1.79
-
Vuggy silicified zone, mafic dyke
110.7
143.7
33.0
1.09
0.07
Vuggy silicified, Argillic (Qtz
Pyrophyllite) and mafic dyke
units
incl.
110.7
114.8
4.1
4.52
0.53
Vuggy silicified zone, py
incl.
140.0
143.7
3.7
1.59
-
Argillic (Qtz Pyrophyllite) Zone,
Vuggy silicified zone
HB-21-
151
118.1
120.3
2.2
0.95
-
Silicified Argillic (Qtz
Pyrophyllite) Zone,
144.3
155.3
11.0
1.50
-
Vuggy silicified, Argillic (Qtz
Pyrophyllite) and mafic dyke
units
incl.
145.3
149.8
4.5
2.08
-
HB-21-
153
141.0
171.5
30.5
1.27
0.18
Vuggy silicified zone, Argillic
(Qtz Pyrophyllite), intermediate
and mafic dyke units
incl.
144.4
150.2
5.8
2.82
0.90
Vuggy silicified zone, py
HB-22-
154
170.1
179.8
9.8
0.94
-
Vuggy silicified, Argillic (Qtz
Pyrophyllite) and mafic dyke
units
196.0
201.9
5.7
1.23
-
Argillic (Qtz Pyrophyllite) zone
HB-22-
155
107.8
119.5
11.7
1.61
-
Vuggy silicified zone, 5% py
incl.
107.8
113.0
5.2
3.10
-
HB-22-
156
156.0
161.0
5.0
0.97
-
Vuggy silicified zone, mylonite
166.0
167.7
1.7
1.24
-
Vuggy silicified zone, py
HB-22-
157
172.4
182.9
10.5
0.60
-
Argillic (Qtz Pyrophyllite) zone
HB-22-
158
46.0
50.0
4.1
0.89
-
Vuggy silicified zone, py
70.6
91.3
20.8
1.64
-
Mylonite zone with Grey vuggy
silicified units
incl.
72.0
76.7
4.7
5.77
0.07
Vuggy silicified zone, py
HB-22-
159a
121.7
136.8
15.1
1.41
0.23
Vuggy silicified zone and mafic
dyke
incl.
122.2
126.4
4.2
3.25
0.75
Vuggy silicified zone, py, cpy
HB-22-
160
87.3
101.8
14.5
1.32
0.05
Vuggy silicified zone and
mylonite
1
.
Intervals are presented in core length; holes are generally planned to intersect mineralization as close to perpendicular to strike as
possible; true widths are estimated to be 75% of downhole length when hole and mineralized horizons orientations are considered.
2
.
Assays results presented are not capped. Intercepts occur within geological confines of major zones but have not been correlated to
individual structures/horizons within these zones at this time.
To view drill hole locations in plan and sections please click on the following link:
https://bigridgegold.com/site/assets/files/5568/pr2_2021-2022_drilling_-_plan_longitudinal_x-
sections_r.pdf
About Hope Brook
The Hope Brook Gold Project is an advanced stage, high-grade gold project that produced 752,162
ounces of gold from 1987 - 1997. Hope Brook hosts an indicated gold resource totalling 5,500,000
tonnes grading 4.77 grams per tonne gold for 844,000 ounces and inferred resources totalling 836,000
tonnes grading 4.11 grams per tonne gold for 110,000 ounces based on a 3.0 gram per tonne cut-off
grade and a long-term gold price of US$1,200, according to a technical report for Big Ridge Gold Corp.,
prepared by authors Michael Cullen, P. Geo., and Matthew Harrington, P. Geo., of Mercator Geological
Services Limited and Jeffrey Burke, P. Geo., and titled "NI 43-101 Technical Report for the Hope Brook
Gold Project, Newfoundland And Labrador, Canada", April 6, 2021.
The Hope Brook gold deposit is a high-sulfidation epithermal gold deposit hosted in the Proterozoic
aged Whittle Hill Sandstone and is intruded by a Late Proterozoic quartz-feldspar porphyry sill-dike
complex of the Roti Intrusive Suite. The deposit in located adjacent to and within an extensive advanced
argillic alteration envelope which includes pyrophyllite, kaolinite, andalusite, and alunite. The principal
gold mineralization occurs in a buff-colored massive, vuggy silicic alteration with an associated, less
developed grey silicic alteration with pyrite, chalcopyrite and lesser bornite. Gold mineralization is also
found with pyrite in units of advanced argillic alteration adjacent to or near silicic alteration horizons. The
altered and mineralized zone is cut by mafic dykes whose contacts are often mineralized. All of the
altered and mineralized sequences and the intruded dykes have been folded.
Hope Brook is located 85 kilometers east of Port aux Basques, Newfoundland. The project has well
maintained infrastructure on site, including an operational 28-person camp, an 1,100-meter airstrip, ice-
free docking facility and importantly, connection to the provincial electrical power grid via an on-site
substation.
Significant exploration potential remains on the 26,000-hectare concession providing a great opportunity
to expand the mine area as well as surface showings throughout the concessions.
This press release was complied and reviewed by William McGuinty, P.Geo., VP Exploration of Big
Ridge and a Qualified Person under National Instrument 43-101.
Quality Assurance and Quality Control (QA/QC)
Big Ridge's 2021-2022 drilling program, Quality Assurance/Quality Control and compilation of results
employ a strict QA/QC program consistent with NI 43-101 and industry best practices. The Hope Brook
project is supervised by Big Ridge's Vice President Exploration, William McGuinty P. Geo.
Drill core is logged and split with half-core samples packaged and delivered to ALS Global's
geochemistry laboratory in Moncton, New Brunswick. Samples are dried and subsequently crushed to
70% passing a 2 mm mesh screen. A 250-gram split subsample is pulverized to a nominal 85% passing
a 75-micron mesh screen. The remaining crushed sample (coarse reject) and pulverized sample (pulp
reject) are retained for further analysis and quality control. All samples are analysed by Fire Assay with
an Atomic Absorption (AA) finish using a 50 g aliquot of pulverized material. Samples are also analysed
for copper using ICP AES with four-acid digestion. Big Ridge inserts third party reference control and
blank samples in the sample stream to monitor assay performance and performs duplicate sampling of
both pulp and reject material. 10% of samples submitted are part of the Company's laboratory sample
control protocols.
About Big Ridge Gold Corp.
Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and
experienced team of officers and directors. The Company is committed to the development of advanced
stage mining projects using industry best practices combined with strong social license from our local
communities. Big Ridge owns a 100% interest in the highly prospective Oxford Gold Project located in
Manitoba and the Destiny Gold Project in Quebec. Big Ridge is the operator of the Hope Brook Gold
Project located in Newfoundland and Labrador.
For more details regarding the Company's projects, please visit our website at
www.bigridgegold.com
ON BEHALF OF THE BOARD,
Mike Bandrowski,
President & CEO
For further information, including a copy of the corresponding report filed with Canadian securities
regulators, please visit
www.sedar.com
or contact:
Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King St. East, Suite 1400
Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Table 2 - Drill Hole Locations*
Hole Number
Depth (m)
Azimuth
Dip
Northing
Easting
Elevation
(m)
HB-21-148
216
325
-64
5287574
417822
5118
HB-21-151
209
325
-48
5287508
417812
5122
HB-21-153
230
325
-56
5287508
417812
5122
HB-22-154
265
325
-64
5287508
417812
5122
HB-22-155
215
325
-52
5287545
417814
5118
HB-22-156
254
325
-53
5287525
417828
5119
HB-22-157
278
325
-60
5287525
417828
5119
HB-22-158
191
325
-78
5287497
417654
5122
HB-22-159A
218
325
-60
5287567
417847
5119
HB-22-160
161
325
-57
5287389
417593
5110
* Hole collars are in NAD83 / UTM Zone 21N coordinates drilled NQ diameter. Elevations are adjusted for modelling purposes
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable Canadian securities
legislation. These forward-looking statements are made as of the date of this news release. Forward-
looking statements are frequently, but not always, identified by words such as "expects", "anticipates",
"believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy",
"goals", "objectives", or variations thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms
and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and
reflect current estimates, predictions, expectations or beliefs regarding future events, and include,
without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares.
All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as
various assumptions made by them and information currently available to them. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Forward-looking statements reflect the
beliefs, opinions and projections on the date the statements are made and are based upon a number
of assumptions and estimates that, while considered reasonable by the respective parties, are
inherently subject to significant business, economic, competitive, political and social uncertainties
and contingencies. Many factors, both known and unknown, could cause actual results, performance
or achievements to be materially different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these factors. When relying on our
forward-looking statements to make decisions with respect to Big Ridge, investors and others should
carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does
not undertake to update any forward-looking statement, whether written or oral, that may be made from
time to time by the Company or on our behalf, except as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/121727