BKB hits extensions to 1.37M ounce gold project in Nevada, USA
Our 2025 Small Cap Pick of the Year Black Bear Minerals (ASX: BKB | OTC: BKBMF) just hit extensions to its gold project in Nevada, USA.
BKB’s project has a 1.37M gold resource and sits next door to Nevada Gold Mines (N.G.M)’s Phoenix pit.
(N.G.M is a JV between $187BN Newmont and $127BN Barrick Gold.)
BKB’s spent the last year or so drilling out the shallow section of its resource - building roads up to the highest grade Rebel peak targets.
We were on site in mid-2025 before those roads were built and had to hike up to the top of the hill, where BKB is drilling now:
It just so happens to be right near the border of its project and the N.G.M JV too - here’s the view from the top:
Today, BKB hit extensions trending towards that target area including hits like 61m at 0.4g/t gold equivalent from 13m depths:
From today’s announcement, BKB confirmed that this phase of the drill program (at Rebel Peak) is now complete.
Further drilling on the project has been temporarily halted due to the weather (winter conditions), but will model these results into the planning and use this to create a new drill program.
(source)
IF BKB hits more gold in the shallow sections of its deposit - neighbours N.G.M could start to look at the project very differently (as a fast way of bringing more production into their mine plan).
After all, BKB’s project actually sits inside N.G.M’s “Plan of operations”.
(Source)
What do we want to see next from BKB?
Over the next 3-6 months we will be tracking the following two catalysts:
🔄Gold drilling in Nevada
BKB has just completed drilling at Rebel peak and taken a temporary winter break, but will be back drilling on the project soon.
BKB had been drilling targets right up to the border of its tenement boundary.
We think strong results from this round of drilling could be material for BKB mainly because it's where the highest grade rock chips have been sampled for the project and because it would be shallow, near surface mineralisation.
The results received today will be used to plan further drilling, with an updated MRE due in Q2 (source).
(source)
🔄 Silver drilling in Texas
BKB also owns 100% an advanced high grade silver asset in Texas, USA. See our most recent note on that asset BKB: Engineering company appointed for “rapid restart” of USA silver mine study as silver rapidly rises to record US$93/oz overnight.
BKB is drilling this project right now.
It will also be the first time the project’s ever been assayed for anything other than silver.
Surprise high grade hits or multi-element assays could be a catalyst for BKB’s share price.
(source)
