Mike Bandrowski, President and CEO of Big Ridge Gold (TSX.V:BRAU – OTCQB:ALVLF), joins us to review the 2022 how the results from the Phase 1 drill program had success at expanding the Main Zone and 240 Zone and how these results are leading towards a key update in Q1 to the Resource Estimate at the Hope Brook Project, in Newfoundland.
We’ve discussed in prior interviews that the maiden resource was last updated in 2014, at 954,000 ounces of gold, but that was with gold price assumptions at $1200 and, at that time, not including any of the copper. By using a gold price closer to $1600, it will allow for a lower cutoff, and should positively impact the resource, in addition to the inclusion of the 20,000 meters of drilling completed during the Phase 1 exploration program in 2022. Factoring in the copper reported back in assays are also meaningful for the eventual Project economics and could help offset many of the input costs.
We wrapped up discussing the completion in September of the Phase One 51% earn-in on their option from First Mining at the Hope Brooke Gold Project. They are 2 years ahead of schedule on earning into this project, so they now have until 2026 to complete the Phase Two earn-in taking them up to 80% ownership, where they are already underway in working towards that milestone. After the Resource Update is released this quarter, then the focus will shift back towards planning the 2023 exploration program.
If you have any follow up questions for Mike regarding the Big Ridge Gold, then please email us at Fleck@kereport.com and Shad@kereport.com.
.