Big Ridge Gold drills 1.09 g/t gold over 33 metres at Hope Brook, Newfoundland

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Big Ridge Gold Corp. [BRAU-TSXV; ALVLF-OTCQB] reported additional diamond drill results from its 25,000-metre, phase 1 exploration drill program at the 80%-optioned past-producing Hope Brook gold project, located 20 km west of Burgeo, southwestern coast of  Newfoundland, NL. The drill holes reported in this press release are from the final drill holes completed in 2021 as well as results from drill holes completed after the resumption of drilling in January, 2022, that targeted the shallow southwestern extension of the Hope Brook deposit.

Mike Bandrowski, president and CEO, commented, “Drilling continues to intercept gold and copper mineralization outside the current resource envelope to the southwest, and 100% of the drill results received to date have intersected gold mineralization, suggesting Hope Brook remains open for potential resource expansion.”

Highlights include drill hole HB-21-148 that intersected 1.09 g/t gold over 33 metres, including 4.52 g/t gold over 4.1 metres. Drill hole HB-22-158 intersected 1.64 g/t gold over 20.8 metres, including 5.77 g/t gold over 4.7 metres. Drill hole HB-22-159a intersected 1.41 g/t gold over 15.1 metres, including 3.25 g/t gold over 4.2 metres.

Drilling continues to intersect gold and extend mineralization outside and along the projected trend of the current resource envelope that is based on a gold price of US$1,200 per ounce and a 3 g/t gold cut-off grade.

The phase 1 drill program continues with a focus on expanding the main and 240 zones near surface and testing the downdip extensions of both areas in the current program.

All drill results received to date have intersected gold mineralization. The phase 1 drill program is expected to run until August, 2022, and will focus on connecting the main zone and the 240 zone near surface and at depth, respectively, and testing the downdip extensions to both the main and 240 zones before moving to test the northeast extension.

Results from the phase 1 drill program continue to extend gold and copper mineralization to the southwest of the past-producing Hope Brook open pit. The holes reported in the press release confirm near-surface mineralization in an untested gap in the current resource envelope and show the deposit remains open to the southwest.

Copper mineralization, which was recovered by past mine operators as a by-product credit and is known to be associated with gold mineralization at Hope Brook, was not included in the historical resource estimates. Big Ridge’s initial drill results have generated copper assays ranging from 0.05% copper to 0.90% copper in 15 of the 23 holes reported to date.

Big Ridge owns a 100% interest in the highly prospective Oxford gold project in Manitoba and the Destiny gold project, located in Quebec.

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