Big Ridge Gold Corp. is a TSX Venture Exchange listed gold exploration company trading under the symbol BRAU. The Company owns and operates gold exploration projects in Newfoundland, Manitoba, Quebec.
In Newfoundland, Big Ridge has an 80% interest in the past producing Hope Brook Gold Project. Hope Brook is an advanced stage, high-grade gold project that produced 752,162 ounces of gold from 1987 – 1997. It is located 85 kilometers east of Port Aux Basques, Newfoundland. The project has well maintained infrastructure on site, including an operational all season camp, airstrip, wharf facility and connection to the provincial electrical power grid via an on-site substation. Significant exploration potential remains on the 26,000-hectare concession providing a great opportunity to expand the mine area as well as surface showings throughout the concessions.
Hope Brook NI 43-101 Resource Estimate (2023)*
|
GOLD RESOURCES - IN PIT AND UNDERGROUND |
||||
|---|---|---|---|---|
|
Hope Brook |
Cut-off Grade |
Tonnes |
Grade |
Contained |
|
INDICATED |
||||
|
240 Zone |
2.0 |
544,000 |
4.31 |
75,000 |
|
Main Zone |
0.5 and 2.0 |
15,646,000 |
2.25 |
1,131,000 |
|
INFERRED |
||||
|
240 Zone |
2.0 |
1,994,000 |
3.28 |
210,000 |
|
Main Zone |
2.0 |
221,000 |
2.96 |
21,000 |
|
|
|
|
|
|
|
COPPER RESOURCES - IN PIT AND UNDERGROUND |
||||
|
Hope Brook |
Cut-off Grade (g/t Au) |
Tonnes |
Grade (% Cu) |
Contained Copper Lbs. |
|
240 Zone |
2.0 g/t and 0.4 g/t Au |
2,538,000 |
0.08 |
4,479,000 |
|
Main Zone |
2.0 g/t and 0.4 g/t Au |
15,867,000 |
0.12 |
42,523,000 |
In Manitoba, Big Ridge owns the Oxford Lake gold project which includes the Banded Iron Formation ("BIF") hosted historical Rusty Gold Deposit. The Rusty Gold Deposit has reported Historical Resource of 800,000 tonnes grading 6 g/t gold, containing 150,000 ounces**. Hole RUS12-03 drilled into the Blue Jay Zone, approximately two km on trend and east of the Rusty Deposit intersected multiple zones of iron formation and anomalous gold.
High Grade Gold Mineralization in RUS12-03
|
RUS12-03 |
Downhole |
Average |
Includes |
|---|---|---|---|
|
Zone One |
2.7 m |
6.7 |
22.5 g/t Au/0.5 m |
|
Zone Two |
6.8 m |
5.7 |
11.7 g/t Au/1.6 m 16.5 g/t Au/1.0 m |
In Quebec, Big Ridge has a 100% interest in the Destiny gold project, located in the prolific Abitibi gold belt. The property hosts the DAC Deposit plus several other significant gold zones associated with a major shear corridor. The deposit comprises numerous gold-bearing quartz veins occurring within five parallel altered shear zones. The lower grade altered shear zones are significantly wider than the high-grade quartz veins, all of which contribute to the current NI 43-101 gold resource estimate.
DAC NI 43-101 Resource Estimate (2011) 0.5g/t cut-off***
|
Class |
Tonnes |
g/Au/tonne |
Au(ounces) |
|---|---|---|---|
|
Indicated |
10,800,000 |
1.05
|
360,000 |
|
Inferred |
8,300,000 |
0.92 |
247,000 |
Big Ridge owns five gold projects in Ontario, four of which are in the Beardmore-Geraldton gold camp. The Company is currently active at Miner Lake and Mud Lake both located north of the Brookbank Deposit that is being explored by the Equinox Gold Corp. - Orion Mine Finance Group Joint Venture as part of their Greenstone Project.
* * The mineral resources described above are detailed in the “Technical Report on the Mineral Resource Estimate Update for the Hope Brook Gold Project, Newfoundland and Labrador, Canada” by Dr. Allan Armitage, P. Geo. from SGS Canada, dated April 6, 2023. The report is filed on SEDAR and at the Company’s webpage under Technical Reports.
** The Rusty Gold Deposit Historical Resource was estimated in 1990 by Noranda Inc. A Qualified Person (QP), as defined by NI43-101, has not done sufficient work to classify this historical estimate as current mineral resources. Big Ridge is not treating the historical estimate as current mineral resources, as defined by NI43-101, and thus the historical estimate should not be relied upon.
*** Todd McCracken, P.Geo, is a Qualified Person ("QP") for purposes of the NI 43-101 Report entitled “NI 43-101 Technical Report and Resource Estimation of the DAC Deposit, Destiny Property, Quebec”, March 1, 2011. At the time of SEDAR filing the Technical Report, Mr. McCracken, was an employee of Wardrop, a Tetra Tech Company, and independent from the Company as described in section 1.4 of NI 43-101.
