- Big Ridge Gold Corp. (BRAU) has hired SGS Geological Services to update the mineral resource estimate for the Hope Brook Gold Project in Newfoundland
- SGS Geological Services is known as an expert in ore body modelling and reserve evaluation
- The updated estimate will have results from a recently completed phase one drill program
- This is the first update since 2014 and will have an adjusted gold price
- Big Ridge Gold Corp. (BRAU) is up 10.00 per cent, trading at $0.11 per share as of 1:59 p.m. ET
Big Ridge Gold Corp. (BRAU) has hired SGS Geological Services to update the mineral resource estimate for the Hope Brook Gold Project in Newfoundland.
SGS Geological Services is known as an expert in ore body modelling and reserve evaluation with experience providing the mining industry with computer-assisted mineral resource estimation services using geostatistical techniques.
The updated estimate will have results from the company’s recently completed phase one drill program that focused on expanding near-surface gold and copper mineralization to the southwest of a current resource. Big Ridge expects to have the update completed during the first half of 2023.
This will be the company’s first update of a mineral resource estimate at the project since 2014 and will have an updated gold price from US$1,200 per ounce to the current price range.
The Hope Brook Gold Project is an advanced-stage, high-grade gold project that produced 752,162 ounces of gold. It currently has an indicated gold resource of 844,000 ounces and inferred gold resources of 110,000 ounces,
Big Ridge believes there is significant exploration potential on the 26,000-hectare concession providing a great opportunity to expand the mine area as well as surface showings throughout the concessions.
Big Ridge Gold Corp. (BRAU) is up 10.00 per cent, trading at $0.11 per share as of 1:59 p.m. ET.
