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Bull Run Property

Codrus Minerals (CDR.AX)
100% ownership interest
Expected NPV
—
Shown in the full report from 1,000 scenarios.
Market Cap
$3.5M
All dollar amounts in USD

Executive Summary

Locked

Executive Summary (overview)

  • One-paragraph overview tied to the latest reported drilling results date.
  • Estimated probability of advancing to a formal resource.
  • Typical ranges for grade, tonnage, mine life, and method mix.
  • Cost structure summary and where the project ranks vs peers.

Regional Gold Potential

Bull Run is located in United States, North America. The surrounding region has historically demonstrated a high potential for gold endowment and is very proximal to other gold properties. Physical setting (high elevation, high relief, temperate climate) shapes access, seasonality, and operating costs. Geologically, the area is dominated by Basic volcanic rocks, under very thin lithosphere with thin sedimentary cover in a Meso- and Cenozoic Orogen tectonic province—factors that inform both deposit style and development complexity.

Bull Run location map
Gold heat map of the world. Warm colors indicate high gold endowment. Try the interactive version here.

Drill Intercepts

Reported results (Gold) average very low grade, very short, and very deep. The most recent intercepts are benchmarked against a global gold database.

Date Intercept (Gold) Grade Length Depth
2025-10-14 0.04 g/t Gold over 1.1 m from 25.9 m Low Grade Moderate Thickness Shallow
2025-10-14 0.08 g/t Gold over 1.0 m from 337.1 m Low Grade Thin Deep
2025-10-14 0.01 g/t Gold over 1.5 m from 334.8 m Very Low Grade Moderate Thickness Deep
2025-10-14 0.04 g/t Gold over 1.5 m from 333.3 m Low Grade Moderate Thickness Deep
2025-10-14 0.01 g/t Gold over 1.0 m from 332.3 m Very Low Grade Thin Deep
2025-10-14 0.13 g/t Gold over 0.2 m from 332.1 m Low Grade Very Thin Deep
2025-10-14 0.01 g/t Gold over 1.9 m from 330.2 m Very Low Grade Moderate Thickness Deep
2025-10-14 0.02 g/t Gold over 1.5 m from 328.7 m Low Grade Moderate Thickness Deep
2025-10-14 0.22 g/t Gold over 2.0 m from 326.7 m Moderate Grade Moderate Thickness Deep
2025-10-14 0.02 g/t Gold over 0.9 m from 325.9 m Low Grade Thin Deep
2025-10-14 0.05 g/t Gold over 0.6 m from 325.2 m Low Grade Thin Deep
2025-10-14 0.36 g/t Gold over 1.2 m from 323.2 m Moderate Grade Moderate Thickness Deep
2025-10-14 0.02 g/t Gold over 2.0 m from 323.0 m Low Grade Moderate Thickness Deep
2025-10-14 0.01 g/t Gold over 1.0 m from 322.3 m Very Low Grade Thin Deep
2025-10-14 0.27 g/t Gold over 0.9 m from 321.4 m Moderate Grade Thin Deep
Rankings are relative to a large global database of gold intercepts.

Resource Potential

Locked

Resource Potential (overview)

  • Probability estimate of advancing to a formal resource.
  • Typical ranges for grade and tonnage with p50 markers.
  • Side-by-side histograms vs. a global reference dataset.
  • Plain-English guidance on how to interpret uncertainty.

Economic Potential

Locked

Economic Potential

  • Distribution of NPV across 1,000 discounted cash-flow simulations.
  • Expected NPV value with context vs. drill-stage peers.
  • Discussion of spread, skew, and scenario tails (upside/downside).
  • Explicit assumptions shown for discount rate and commodity price.

Assumption Distributions

Locked

Assumption Distributions

  • Reserve conversion and mine life distributions.
  • Recovery, processing costs, and waste:ore ratio ranges.
  • Capex/offsite opex, average production rate, and other drivers.
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