Hope Brook Gold Project, Newfoundland

  • Overview

    Ownership & Size:

    Big Ridge – earning up to 80%
    1,056 mineral claims totaling 26,400 Ha

    Stage:

    Advanced Exploration: The property hosts the Hope Brook deposit that consists of the Mine Zone and 240 Zone. The Hope Brook deposit is open along strike and at depth.

    Class

    Tonnes

    g/Au/tonne

    Au(ounces)

    Indicated

    5,500,000

    4.77 844,000

    Inferred

    836,000 4.11 110,000

    Hope Brook NI 43-101 Resource Estimate (2015)* 3.0g/t cut off

    The resource estimates described above are historical estimates as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects S.2.4 (“NI 43-101”). Big Ridge has not completed sufficient work to independently analyze and verify the results of previous operators nor has a qualified person completed sufficient work to classify the estimates as current resources or mineral reserves and should not be relied upon.

    Location & Infrastructure

    Southwest coast of the island of Newfoundland, in the Province of Newfoundland and Labrador, Canada.  The property hosts a 28-person camp, existing tails storage capacity, a 1,100m airstrip and is connected to grid power.

    Historic Production

    BP-Selco made the Hope Brook discovery in 1983 and the mine was put into production in 1987. The Hope Brook Mine operated from 1987 until 1997 and produced 752,163 ounces of gold during that time.

    Project Summary
    • The Mine Zone and 240 Zone remain open along strike and at depth;
    • Current high-grade gold resource consisting of 844,000 ounces of gold in the Indicated category and 110,000 ounces of gold in the inferred category;
    • Several additional targets have been identified through grab sampling, channel sampling and limited drilling with no or limited follow-up work;
    • Significantly de-risked with respect to processing based on 10 years of production;
    • Located in a mining friendly jurisdiction with access to skilled labour

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