ON-TREND, DRILL-READY NEVADAN GOLD ASSET WITH DEFINED RESOURCES AND EXPANSION POTENTIAL
- Proven gold mineralization comprising a total Resource of 309,900 oz Au (comprising of Measured & Indicated Resource of 271,900 oz Au plus an Inferred Resource of 38,000 oz Au as per 2007, 43-101 Resource Estimate)
- Located on renowned gold trend in #1 Mining Jurisdiction in the World (~24km from Sleeper mine that produced 1.7M oz Au @ 7 g/t average head grade, 1986-1996)
- Extensive & consolidated land package (117km2 Sale Boundary)
- Expansion potential with significant drilling and exploration conducted post-resource estimate & massive gaps in exploration under cover
- Permits In-Hand from BLM and NDEP across land package in mining friendly jurisdiction with no known environmental sensitives
Sandman is located in Townships 36 and 37 North, Ranges 35 and 36 East, Mount Diablo Meridian,
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8490bc1a-cab4-4e08-95b6-7ce8a562ebee
Figure 1. General Location map
The Sandman property (117 km2; Sale Boundary; Figure 2) is located on checkerboard mix of public and private lands. The project consists of 445 unpatented lode mining claims and ~6 km2 (1,480 acres) of surface ownership. The existing net smelter return production royalty obligations will transfer from Newmont to Gold Bull.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10a596b4-4fc1-4496-b956-c0e917df4225
Figure 2. Location map indicating sale boundary via the white polygon.
Significant gold mineralization at Sandman has been identified at the Southeast Pediment,
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/31a3c9eb-fb31-4086-a034-df9a630be430
Figure 3. Sandman project area with underlying geology and main prospects
No significant historic mining activities have taken place within the Sandman project limits. Modern exploration of the Sandman project began in 1987 when
Kennecott and Santa Fe terminated their joint venture and conveyed their individual holdings at Sandman to Western States Mining (“WSMC”) in 1997.
In 2005 NewWest acquired the property from WSMC and employed