Gold Bull Resources (TSX-V:GBRC) Corp has told investors that drilling at its Sandman project in Nevada, USA, is going well and first assays are expected in March.
The work started at the project, formerly owned by major Newmont, on January 12 this year, and so far nine holes have been completed for 1,722 metres (m) of a total 4,035m planned.
Holes have been completed at North Hill, including a scout hole west of the resource estimate, the Midway target area, and at Silica Ridge. The rig will move to Abe Knoll after the next break.
Gold mineralization was first uncovered at the asset in 1987 by Kennecott and it has been intermittently explored since.
There are four known pit constrained gold resources within the property totalling 494,000 ounces (oz) of gold at 0.7 grams per ton (g/t), with 433,000 ounces in the higher-confidence indicated category and 61,000 ounces in inferred.
Notably, several resources remain open in multiple directions and the bulk of previous drilling was to depths of less than 100m.
"The Sandman drilling program is progressing very well on the ground. We eagerly await assay results," said Gold Bull CEO Cherie Leeden in a statement.
"In the meantime, the exploration team is working through surface geochemical and geophysical results from the Windmill target area, as well as newly recovered paper records from historic drilling at the Ten Mile prospect. It is nice to see gold hit $1900 in the middle of our drill program," she added.
A small drilling program at the company's Big Balds project may follow Sandman, depending upon ground conditions and weather, noted the company.
Also in the statement, Gold Bull said Jennifer Hanson has been appointed as corporate secretary, replacing Gavin Cooper, who is stepping down, but who remains chief financial officer.
Gold Bull aims to grow into a US-focused mid-tier gold development company. Its exploration hub is based in Nevada, USA, a top-tier district that contains significant historical production, existing mining infrastructure and an established mining culture.
Contact the writer at giles@proactiveinvestors.com