Mike Bandrowski, President and CEO of Big Ridge Gold (TSX.V:BRAU – OTCQB:ALVLF), joins us to unpack the key metrics just released today from the new Mineral Resource Estimate for the Hope Brook gold deposit located in southwestern Newfoundland.
Global Mineral Resource Estimate Highlights:
- 1.2 Million Ounces grading 2.32 g/t Au in Indicated and 231,000 Ounces grading 3.24 g/t Au in Inferred categories.
- Open Pit Mineral Resource Estimate: 1.0 Million Ounces grading 2.14 g/t Au in Indicated category.
- 43% Increase in total Indicated Ounces and 110% Increase in total Inferred Ounces compared to the April 2021 Mineral Resource Estimate.
We’ve discussed how the resource is resilient in the face of lower metals prices, due to the 0.4 g/t cutoff used and $1750 gold price assumptions, but still has the optionality to higher gold prices, and the potential for the copper credits to contribute to the operating capital as more work is done to factor those into future economic studies. We also discussed the potential to keep expanding the 400,000 ounces of gold resources at depth, both under the 240 Zone and the Main Zone for a growing underground mining scenario, beyond the 1 million ounces now in the open-pit resources. In addition, there are 13 exploration targets the exploration team has identified for exploring for additional open pits that could be brought into a future mine plan.
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.
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