Gold Bull Announces Filing of PEA Technical Report for Sandman Gold Project
27 Oktober 2022 - 6:00PM
Gold Bull Resources Corp. (TSX-V: GBRC) (“
Gold
Bull” or the “
Company”) is pleased to
announce, in connection with its news release dated September 12,
2022, it has filed an Independent Preliminary Economic Assessment
(“PEA” or “Scoping Study”) for the Sandman Project
(“
Sandman” or the “
Project”)
located in Humboldt County, Nevada, USA.
The PEA dated October 27, 2022 was prepared in
accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects and is available on www.sedar.com
and on the Company’s website, www.goldbull.ca. The previous Mineral
Resource Estimate (MRE) was not modified as part of this Scoping
Study. The focus of the study was to conduct a preliminary economic
assessment of the known gold resources located above the water
table.
The news release dated September 12, 2022,
summarizes results from the Scoping Study and the Company is
pleased to report that there were no material differences between
the news release and the PEA.
ABOUT SANDMAN
In December 2020, Gold Bull purchased the
Sandman Project from Newmont. Gold mineralization was first
discovered at Sandman in 1987 by Kennecott and the project has been
intermittently explored since then. There are four known pit
constrained gold resources located within the Sandman Project,
consisting of 21.8Mt at 0.7g/t gold for 494,000 ounces of gold;
comprising of an Indicated Resource of 18,550kt at 0.73g/t gold for
433kozs of gold plus an Inferred Resource of 3,246kt at 0.58g/t
gold for 61kozs 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 100m. Sandman is
conveniently located circa 25-30 km northwest of the mining town of
Winnemucca, Nevada.
QUALIFIED PERSON
The technical information in this news release
has been reviewed and approved by Mr. Jerod Eastman, a Qualified
Person under National Instrument 43-101. Mr. Eastman is a
Registered Member (#00885850) of the Society for Mining, Metallurgy
and Exploration, Inc. and is completely independent of Gold Bull
Resources Corp. The information in this news release that relates
to mining and cost estimation is based on, and fairly reflects,
information compiled by Mr. Eastman.
ABOUT GOLD BULL RESOURCES CORP.
Gold Bull’s mission is to grow into a US focused
mid-tier gold development Company via rapidly discovering and
acquiring additional ounces. The Company’s exploration hub is based
in Nevada, USA, a top-tier mineral district that contains
significant historical production, existing mining infrastructure
and an established mining culture. Gold Bull is led by a Board and
Management team with a track record of exploration and acquisition
success.
Gold Bull is driven by its core values and
purpose which includes a commitment to safety, communication &
transparency, environmental responsibility, community, and
integrity.
Cherie LeedenPresident and CEO, Gold Bull Resources Corp.
For further information regarding Gold Bull
Resources Corp., please visit our website at www.goldbull.ca or
email admin@goldbull.ca or phone 778.899.3050.
Cautionary Note Regarding Forward-Looking
StatementsNeither 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.
This news release contains certain statements
that may be deemed “forward-looking statements” with respect to the
Company within the meaning of applicable securities laws.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential”, “indicates”, “opportunity”,
“possible” and similar expressions, or that events or conditions
“will”, “would”, “may”, “could” or “should” occur. Although Gold
Bull believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, are subject to risks and
uncertainties, and actual results or realities may differ
materially from those in the forward-looking statements. Such
material risks and uncertainties include, but are not limited to,
the Company’s ability to raise sufficient capital to fund its
planned activities at the Sandman Project; the timing and costs of
future activities on the Company’s properties; maintaining its
mineral tenures and concessions in good standing, to explore and
develop its projects, to repay its debt and for general working
capital purposes; changes in economic conditions or financial
markets; the inherent hazards associates with mineral exploration
and mining operations, future prices of copper and other metals,
changes in general economic conditions, accuracy of mineral
resource and reserve estimates, the potential for new discoveries,
the ability of the Company to obtain the necessary permits and
consents required to explore, drill and develop the projects and if
obtained, to obtain such permits and consents in a timely fashion
relative to the Company’s plans and business objectives for the
projects; the general ability of the Company to monetize its
mineral resources; and changes in environmental and other laws or
regulations that could have an impact on the Company’s operations,
compliance with environmental laws and regulations, dependence on
key management personnel and general competition in the mining
industry. Forward-looking statements are based on the reasonable
beliefs, estimates and opinions of the Company’s management on the
date the statements are made. Except as required by law, the
Company undertakes no obligation to update these forward-looking
statements in the event that management’s beliefs, estimates or
opinions, or other factors, should change.
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