Big Ridge Gold – Reviewing The 2023 Milestones, Key News On Tap, And The 2024 Exploration Strategy
Mike Bandrowski, President and CEO of Big Ridge Gold (TSX.V:BRAU – OTCQB:ALVLF), joins us to the key milestones of 2023, the exploration results still to release from last year’s field program, the work strategy developing for 2024, and the raising of their ownership stake to 80% with their flagship Hope Brook Project, located in southwestern Newfoundland.
We start off getting an update on the exploration work last year at the Hope Brook Project, which completed 39 line-km of MAG and 29 line-km of IP geophysics at Hope Brook, Woodman's Droke and Old Man's Pond, and evaluated various epithermal targets to the southwest. Their exploration team collected over 500 samples including 102 channel, and followed up on soil and Drone Magnetometer surveys MAG at the Baie Verta properties. Some of the results from this exploration will be released to the markets in the near future.
We also discussed the acquisition of Gold Island Inc, adding in options on three high quality gold exploration assets from Gold Island in the Baie Verte area. This transaction also added in approximately CAD$3.8 million in working capital (primarily cash), several supportive, long-term shareholders, and strengthened the Company's Board of Directors and exploration teams with the appointments of Paul Pint and Paul Robinson, PhD., PGeo, respectively.
Next we had Mike outline the Global Mineral Resource Estimate in 2023, coming in at 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, which was a 43% increase in total Indicated ounces and 110% increase in total inferred ounces compared to the April 2021 Mineral Resource Estimate. We also had him address the current valuation they are received for these gold ounces in the ground, and why there is potential for a rerating just get the valuation more in line with peer deposits.
We wrap up having Mike share some of the exploration goals and priorities for the upcoming 2024 exploration season, and highlighting the key milestone of earning in to 80% of the project ownership up through present.
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.
