New gold targets defined - Sandman land position significantly expands
VANCOUVER, Jan. 29, 2021 - Gold Bull Resources Corp. (TSX-V: GBRC) ("Gold Bull" or the "Company") is pleased to announce it has increased its land position at Sandman by 24%. Gold Bull has staked and secured an additional 388 mineral claims, adding an additional 2817.2 hectares (28.17 square kilometers) to its 100% owned land holding, located near the town of Winnemucca in Nevada, USA.
HIGHLIGHTS:
- Sandman land holding expanded by 24%
- 388 new claims for 2817 additional hectares added (28 km2)
- Ground Geophysics survey (3D IP) at Sandman completed
- Drilling planned to commence in February (post transfer of all permits)
- Updated NI43-101 resource estimate expected next week
Gold Bull CEO, Cherie Leeden commented:
Based on scientific data, our Geology team identified additional gold exploration targets located immediately adjacent to our Sandman project that were on open ground. We have successfully staked all these new targets and have further bolstered and secured our premier land position in this extraordinarily rich gold mining district.
2021 is shaping up to be an exciting year for Gold Bull. We look forward to sharing our Sandman Resource Estimate upon receiving it soon, and to commencing our maiden drill program at Sandman shortly thereafter.
Background
Gold Bull's Nevada based geology team conducted a comprehensive project generation review of the regional geology surrounding Sandman. The Company has increased its land holding to capture previously open Bureau of Land Management (BLM) ground that is considered highly prospective to host gold mineralisation, based on scientific datasets such as geochemistry, geophysics, and geological mapping. The Company conducted site visits to verify the prospectivity of the targets. The new targets are adjoining to the Company's Sandman project. Gold Bull's Sandman land holding now covers >11709 hectares (>117 km2).
Figure 1. General location of Gold Bull's three 100% owned US projects
https://www.globenewswire.com/NewsRoom/AttachmentNg/737dc5e6-bd46-4b88-b14f-2ae1d9ec9885
Figure 2. Sandman Landholding showing proposed Phase 1 drill holes and known resource areas. Phase 1 drill program is anticipated to commence in February, upon receiving/transferring all required permits.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e8eeda08-7ff2-46f1-9fe4-9869aa9bc962
Qualified Person
Cherie Leeden, B.Sc Applied Geology (Honours), MAIG, a "Qualified Person" as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company's Chief Executive Officer.
About Gold Bull Resources Corp.
Gold Bull Resources Corp. is a gold focused mineral exploration company that strives to generate and advance high-reward project acquisitions in regions with proven mineral wealth. Gold Bull's mission is to grow into a US focussed mid-tier gold development Company. The company's exploration hub is based in Nevada, USA, a top-tier mineral district that contain significant historical production, existing mining infrastructure and an established mining culture.
Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success. Gold Bull's objective is to generate stakeholder value and superior investment returns through the discovery and responsible development of mineral resources.
Cherie Leeden
President and CEO, Gold Bull Resources Corp.
For further information regarding Gold Bull Resources Corp., please visit our website at www.goldbull.ca or email admin@goldbull.ca.
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
