The Prospector News

Big Ridge Gold Announces 100% Uptake in Warrant Acceleration and Provides Hope Brook Gold Project Update

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Big Ridge Gold Announces 100% Uptake in Warrant Acceleration and Provides Hope Brook Gold Project Update






Big Ridge Gold Corp. (TSX-V: BRAU) is pleased to provide an update on its previously announced warrant acceleration and the handover of the Hope Brook Gold Project, located in Newfoundland and Labrador, from First Mining Gold Corp. (TSX: FF) to Big Ridge.


Warrants Fully Exercised


On June 22, 2021 the Company announced that it had elected to accelerate the expiry date of the 22,325,000 Warrants issued July 8, 2020, in connection with the subscription receipt offering completed by the Company under its predecessor name, Alto Ventures Ltd. The Company is pleased to confirm that 100% of the 22,325,000 warrants have been exercised for gross proceeds of $4,465,000.


Big Ridge has a strong cash position of approximately $11.4 million and is in great shape to work toward the initial Phase I earn-in to acquire 51% in the Hope Brook Gold Project by spending $10 million over the next three years.


Hope Brook Gold Project


Big Ridge has received all necessary permits to open and operate the Hope Brook camp and all exploration and water permits are in place to commence the summer exploration program. Initial work will include re-sampling of historic core, prospecting, geophysics and a drill program expected to commence this quarter.


Michael Bandrowski, President & CEO of Big Ridge commented, “With more than $11 million of cash in our treasury, we are excited about the start of our first phase program designed to unlock the full potential of the former producing Hope Brook Gold Project.”


Mr. Bandrowski continues, “The known mineralization at Hope Brook provides a great resource to build on and the highly prospective targets in and around the deposit provide an opportunity to make further discoveries and potentially find the source of Hope Brook mineralization.”


About Big Ridge Gold Corp.


Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with strong social license from our local communities. Big Ridge owns 100% interest in the highly prospective Oxford Gold Project located in Manitoba, 100% interest in the Destiny Gold Project in Quebec where Clarity Gold Corp. is earning up to a 100% interest and is exploring in the Beardmore-Geraldton gold belt in Ontario.


Posted July 28, 2021

Share this news article


Fireweed Intersects Three Distinct High-Grade Zinc Zones Including 23.77% Zinc, 3.44% Lead, and 75.7 g/t Silver Over 10.42 m in New Zone at Boundary West

FIREWEED ZINC LTD. (TSX-V: FWZ) is pleased to announce the result... READ MORE

September 16, 2021

Three more holes intersect mineralized porphyry at Brama target, Bramaderos Project, Ecuador, paving way for maiden Mineral Resource Estimate in early 2022

Assays include 69.6m at 0.65g/t gold and 0.2% copper  ... READ MORE

September 16, 2021

Labrador Gold Intersects 128.51 g/t Gold Over 1.12 Metres at Big Vein, Kingsway Project

Labrador Gold Corp. (TSX-V:LAB) (OTCQX:NKOSF) (FNR:... READ MORE

September 16, 2021

Pan Global Continues to Expand the near Surface Copper-Tin Discovery at the Escacena Project, Southern Spain

Highlights include: 6.5m at 2.52% CuEq (2.27% Cu, 8.1g/t Ag) from... READ MORE

September 16, 2021

Drilling at Galloway Continues to Provide Good Mineralized Intersections

Fokus Mining Corporation (TSX-V: FKM) (OTCQB: FKMCF) (FSE: F7E1) ... READ MORE

September 16, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News