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. - October 13, 2022) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB:
ALVLF) ("
Big Ridge
") is pleased to announce additional diamond drill results from its 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 drill holes 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, further supporting our
thesis of continued mineralization to the southwest and potential resource expansion."
Highlights:
Drill hole HB-22-178 intersected 0.95 g/t Au over 11.7 m
including 8.86 g/t Au over 1.0 m
, Drill
hole HB-22-179 intersected 0.95 g/t Au over 32.6 m
including 2.83 g/t Au over 8.7m
and Drill
hole HB-22-182 intersected 0.86 g/t Au over 31.3 m
including 5.38 g/t Au over 1.0 m and 1.28
g/t Au over 11.8 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 company has released 45 drill holes to date and 41 of those results have intersected gold
mineralization. These initial drill results have primarily focused on near-surface mineralization to the
southwest of the current resource estimate. The Phase 1 drill program results continue to
demonstrate that Hope Brook remains open for resource expansion and there are a series of
assays pending from additional drill holes testing the 240 Zone and Main Zone.
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, southwest of the
resource envelope and also 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 the majority of holes reported to date.
Table 1 - Significant Intercepts from Reported Holes
Hole
number
From
(m)
To (m)
Length
(1)
(m)
Au
g/t
(
2
)
Cu
%
Lithology
HB-22-171B
NSV
HB-22-172
53.9
63.0
9.1
0.59
-
Vuggy silicified, Argillic (Qtz Ser Py Po)
HB-22-173
63.3
66.2
2.9
0.61
-
Silicified zone
81.0
86.9
5.9
0.55
-
Argillic (Qtz Pyrophyllite), mafic dyke
units
HB-22-174B
181.8
203.5
21.7
0.41
0.09
Vuggy silicified and mafic dyke units
incl.
189.2
196.3
7.1
0.50
0.23
HB-22-175
196.1
214.5
18.4
0.63
-
Vuggy silicified, Argillic (Qtz
Pyrophyllite), mafic dyke units
incl.
207.3
211.2
3.9
1.66
-
HB-22-176
201.5
234.7
33.2
0.54
-
Vuggy silicified, Argillic (Qtz
Pyrophyllite), mafic dyke units
incl.
222.1
229.8
8.7
0.77
-
HB-22-177
242.0
256.5
14.6
0.46
0.06
Vuggy silicified, Argillic (Qtz
Pyrophyllite), mafic and intermediate
dyke units
incl.
250.7
254.1
3.5
0.59
0.13
HB-22-178
226.2
237.8
11.7
0.95
0.08
Vuggy silicified and intermediate dyke
units
277.8
278.8
1.0
8.86
-
light grey to cream brecciated pyrite
cap unit
HB-22-179
247.2
279.7
32.6
0.95
-
Argillic, Vuggy silicified, intermediate
dyke zones
incl.
251.5
260.3
8.7
2.83
0.12
Vuggy silicified zone, py
HB-22-180B
NSV
HB-22-181
546.0
562.0
16.0
0.21
-
Vuggy silicified and Argillic (Qtz,
Sericite, Pyrophyllite)
HB-22-182
237.2
268.5
31.3
0.86
-
Alternating intervals of Vuggy silicified
and Argillic (Qtz Pyrophyllite)
incl.
242.2
243.2
1.0
5.38
-
incl.
255.2
267.0
11.8
1.28
-
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. NSV - No Significant Values.
To view drill hole locations in plan and sections please click on the following link:
https://bigridgegold.com/site/assets/files/5577/pr4_2022_drilling_-_plan_longitudinal_x-
sections_rev3_e.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, an
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 compiled 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
Azimuth
Dip
Northing
Easting
Elevation
HB-22-171B
704
325
-69
5287568
418201
5166
HB-22-172
182
325
-60
5287452
417603
5118
HB-22-173
173
325
-73
5287452
417603
5118
HB-22-174B
272
325
-44
5287330
417677
5120
HB-22-175
290
325
-52
5287330
417677
5120
HB-22-176
317
326
-47
5287232
417637
5123
HB-22-177
320
326
-54
5287232
417637
5123
HB-22-178
311
325
-47
5287257
417663
5126
HB-22-179
335
325
-53
5287257
417663
5126
HB-22-180B
701
325
-70
5287517
418152
5164
HB-22-181
320
325
-45
5287174
417592
5124
HB-22-182
359
325
-54
5287174
417592
5124
* 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/140402