VANCOUVER, British Columbia, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Gold Bull Resources Corp. (TSX-V: GBRC) (“Gold Bull”) is pleased to announce that Raiden Resources Limited (“Raiden” or the “Company”) reports it has commenced drilling at the Kalabak project in Bulgaria. Two targets will be drill tested as part of the program, including Sbor, a gold-copper porphyry target and Belopoltsi, an epithermal gold target. As detailed in the Company’s 15 July 2019 TSX-V announcement, the Company has an option to earn up to a 75% project interest in the Kalabak project.
Kalabak drilling - Sbor gold porphyry target
The Sbor target is defined by a coherent gold in soil anomaly, measuring approximately 400m by 400m. The gold anomaly is also coincidental with both molybdenum and copper soil anomalies, as well as strong argillic and phylic alteration at surface. Sheeted and stockwork quartz veining (refer figure 1 and 2), which has been mapped over the target area is indicative of a porphyry system at depth. The target remains untested at depth, despite significant evidence of potential mineralisation.
Figure 1 - sheeted and stockwork veining on the Sbor target is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d160fa68-edaa-489e-bcc9-67070a69c013
Figure 2 - outcropping veining on the Sbor porphyry target is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d2294beb-d9b5-4b80-9826-10ce704e5bd6
Further information on the Sbor target can be found in the Company’s ASX releases on the 22nd November 2019 and the 5th of May 2020.
Kalabak drilling - Belopoltsi epithermal gold target
The Belopoltsi epithermal gold target is located within the eastern perimeter of the Kalabak project area. The prospect was mapped out by Raiden geologists in 2019. Follow up soil sampling defined several anomalous zones, which correlated with outcropping quartz veins and elevated gold in rock samples. Management believe that the outcropping chalcedony veins may contain higher gold values at depth and the drilling program will aim to test the structures at 100-200m below the surface.
Figure 3 - Hydrothermal / tectonic breccia on the contacts of rhyolitic dykes at Belopoltsi target is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c9849093-d475-4cfa-8fb1-321af36e693e
Further information on the Belopoltsi target can be found in the Company’s ASX release on the 18th November 2019.
Figure 4 - Kalabak project in relation to Ada Tepe gold mine (Dundee Precious Metals) and the Rozino gold deposit (Velocity Minerals) is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c32940a4-124e-4971-9312-21c0c9bc99c0
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.
About Gold Bull Resources
Gold Bull is a gold focused exploration and development company with a portfolio of prospective projects located in Nevada, USA. Gold Bull is led by a Board and Management team with a track record of exploration success. Gold Bull’s objective is to generate stakeholder value and superior investment returns through the discovery and responsible development of mineral resources.
Vince Sorace
President and CEO, Gold Bull Resources Corp.
For further information regarding Gold Bull, please visit our website at www.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 QX Metals 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.