Big Ridge Gold Corp reports exploration and development updates for its Canadian gold project portfolio. The company owns a 100% interest in the Hope Brook Gold Project in Newfoundland and Labrador, along with the Oxford Gold Project in Manitoba and the Destiny Gold Project in Quebec.
Recurring news for ALVLF includes Hope Brook work programs, geotechnical and hydrogeological drilling, infill and exploration drilling, metallurgical testing, preliminary economic assessment activity, project ownership updates, partner activity at Destiny, warrant exercises, option and share-based compensation grants, and shareholder-meeting results.
Big Ridge Gold Corp (OTCQB: ALVLF) has announced a significant private placement and acquisition deal. The company plans to raise up to $5.0 million through a private placement of 40 million units at $0.125 per unit, with each unit comprising one common share and half a warrant exercisable at $0.20 for 24 months.
Additionally, Big Ridge has agreed to acquire the remaining 20% stake in the Hope Brook Gold Project from First Mining Gold Corp for $3.0 million in cash and 7 million common shares. The transaction will give Big Ridge 100% ownership of the project, positioning it to maximize value in this tier-one jurisdiction.
The private placement, supported by Michael Gentile and PowerOne Group, is expected to close around July 25, 2025, subject to regulatory approvals.
Big Ridge Gold Corp (OTCQB: ALVLF) has announced positive results from its ore sorting study at the Hope Brook Gold Project in Newfoundland and Labrador. The study, conducted by Tomra and the Saskatchewan Research Council (SRC), demonstrated successful identification and rejection of unmineralized material, which currently comprises about 25% of the resource estimate mineral envelopes.
Using a TOMRA COM Tertiary XRT System with a density factor of H85, the study processed 69.0 kg of Hope Brook material. The sorting system effectively removed 19.15 kg of waste, representing 27.8% of tested material and 73.4% of identified zero-grade samples. This breakthrough in waste material separation is expected to significantly impact future economic studies of the project by optimizing mill process and tailings management designs.
Big Ridge Gold Corp (TSXV: BRAU) (OTCQB: ALVLF) has provided a corporate update highlighting key achievements in 2024 and objectives for the Hope Brook Gold Project (HBGP) in Newfoundland and Labrador. The company successfully finalized an 80% earn-in at HBGP while reducing required project expenditures by approximately $6 million.
Key accomplishments include completing environmental baseline work, initiating ore sorting and copper/gold deportment studies, and conducting field programs on the southwest extensions of the Main and 240 Zones. Geophysical results established several kilometers of new drill targets southwest of the current resource estimate.
Future steps include releasing exploration results from the 2024 field program, finalizing drill targets on newly defined extensions, providing updates on ore sorting and deportment study results, and completing the Environmental Baseline Report.
Big Ridge Gold Corp (TSXV: BRAU) (OTCQB: ALVLF) announces its reliance on CSA Coordinated Blanket Order 51-931 for exemption from sending proxy-related materials for its upcoming Annual General Meeting on December 23, 2024. This decision comes due to the ongoing Canadian Union of Postal Workers strike that began November 15, 2024.
Meeting materials are available on SEDAR+ and the company's website. Shareholders can access materials online or contact CFO Jim Kirke for electronic copies. The meeting will vote on: setting five directors, electing directors, and appointing Davidson & Company LLP as auditors.
Big Ridge Gold Corp (TSXV: BRAU) (OTCQB: ALVLF) has entered into a binding Option Agreement with Caprock Mining Corp for its Destiny gold property in Quebec. Under the agreement, Caprock can earn 100% interest through:
- 8,000,000 common shares issuance by April 2, 2025
- Staged cash payments totaling $750,000
- Share issuances worth $1.3 million
- Exploration expenditures of $1.95 million over three years
Big Ridge will retain a 1% net smelter return royalty, which Caprock can buy back for $1.0 million. The property is located 75km northeast of Val d'Or, Quebec.
Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) has announced that due to the ongoing Canadian postal strike, materials for its upcoming Annual General Meeting on December 23, 2024, are available on www.sedarplus.ca and the company's website. Shareholders can access materials online or contact the CFO for electronic copies. The company's transfer agent, Computershare, will email voting instructions to registered shareholders. Both Non-Objecting and Objecting Beneficial Shareholders can obtain voting materials through specified channels. Additionally, the company announced that Board Chair Dr. Bill Williams will not seek re-election.
Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) has provided an update on its exploration activities at the Hope Brook Gold Project (HBGP) in Southern Newfoundland. The company is continuing its systematic exploration program along highly prospective gold-bearing structures southwest of the Main and 240 Zones. Key points include:
1. Geophysical interpretation of 2023 surveys, including walking magnetometer and DC Induced Polarization surveys.
2. Identification of parallel high chargeability anomalies correlating with the Hope Brook Main Deposit and 240 Zone.
3. Field reconnaissance work in July and August 2024, focusing on the Chetwynd Prospect area.
4. Preparation for a 2025 drill program, with ongoing exploration in the Hope Brook Deformation Zone.
The company aims to define robust drill targets for 2025, focusing on a 5 km section of the Cinq Cerfs Deformation Zone.
Big Ridge Gold Corp (TSXV: BRAU) (OTCQB: ALVLF) has provided an update on ongoing studies at the Hope Brook Gold Project (HBGP) in Newfoundland and Labrador. Key highlights include:
1. Completion of environmental baseline fieldwork in July to support Project Registration preparation.
2. Shipment of samples for an Ore Sorting Study to Saskatchewan Research Council (SRC).
The company expects to complete environmental baseline and ore sorting studies in Q4 2024, adding significant value to the upcoming Preliminary Economic Assessment. Environmental survey work builds on previous studies, evaluating the natural environment and current brownfield mine site condition. Ore sorting tests aim to separate 'zero grade' lithologies from mineralized ones, potentially improving mining efficiency. Additionally, SRC will conduct a gold deportment study to assess gold and copper distribution in the mineralization.
Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) has entered into a non-binding Letter of Intent (LOI) with Caprock Mining Corp. (CSE: CAPR) for the option of its 100% owned Destiny gold property in Quebec. The proposed terms include:
1. Caprock to issue 8,000,000 common shares on closing
2. Cash payments totaling $750,000 over three years
3. Share issuances worth $1,300,000 over three years
4. Exploration expenditures of $2,450,000
5. Big Ridge to retain a 1% NSR with a $1.0 million buy-back right
The agreement is subject to a definitive option agreement. Big Ridge's CEO, Mike Bandrowski, expressed excitement about the potential of the Destiny Gold Project and the timing given the recent gold price movement.
Big Ridge Gold Corp (TSXV: BRAU) (OTCQB: ALVLF) has closed a non-brokered private placement of 30,000,000 common shares at $0.05 per share, raising $1,500,000 in gross proceeds. The funds will be used for exploration and development of the Hope Brook Gold Project and general working capital. Notably, Michael Gentile has increased his holdings to 9.9% of the company, acquiring 12.6 million shares over the last six months. The company's market capitalization is currently $11 million. Big Ridge aims to capitalize on the strong gold price environment with the Hope Brook project, which offers regional infrastructure synergies and significant exploration potential. The company also announced the resignation of James Maxwell as a director.