- Assay results for six of the 25 test holes Bullfrog Gold Corp. recently completed at the Bullfrog Project in southwestern Nevada have been announced, showing enhanced potential for expanding resources.
- The initial six hole results helped define the limits of expanding two existing open pit mines within the 5,250-acre site and achieved assays of 0.55 g/t gold and 1.95 g/t silver from 0 to 75 feet in one of the holes drilled in the bottom of a pit. Bullfrog Gold undertook the drilling program to fulfill a final work commitment that will allow the company to buy a 100 percent interest in the lands lease/optioned from Barrick Gold and where most of the known resources occur. Barrick Bullfrog Inc. produced about 1 million ounces of gold from the lands now controlled by BFGC but ceased operations in 1999 upon depletion of ore reserves.
- Measured and indicated NI 43-101-compliant resources were estimated in mid-2017 at 525,000 ounces of gold, averaging 1.02 gold g/t in base case pit plans using a $1,200 gold price and 72% heap leach recovery. Since then gold prices have increased significantly and the Company has achieved an 85% heap leach gold recovery from a finer leach feed size.
Precious metals explorer Bullfrog Gold (CSE: BFG) (OTCQB: BFGC) (FSE: 11B) announced the initial gold and silver assays on six drilled holes where the company found significant mineralization intercepts establishing enhanced prospects for expanding pit limits and resources in the historically productive Bullfrog Mining District of southwestern Nevada (http://ibn.fm/nnU0K).
The assayed holes are part of a 25-hole strategic drilling program in the Bullfrog Project located 4 miles west of Beatty, NV and 125 mile northwest of Las Vegas. Bullfrog Gold now has the commanding land and resource positions within the Bullfrog Mining District, which is one of the most active gold exploration regions in North America. Twenty-one of the 25 holes were drilled on Barrick Bullfrog land.
Two of the holes drilled in the bottom of the Montgomery-Shoshone (“MS”) pit expanded mineralized intercepts beyond the current resource estimate. BM-20-1 delivered assays that included 0.55 g/t gold and 1.95 g/t silver from 0 to 75 feet deep and BM-20-2 intersected 0.37 g/t gold plus 1.15 g/t silver from 0 to 65 feet. A third hole higher in the MS pit had mineralization too deep to mine, but the hole did establish a limit to resource projections below this area.
The other three holes are in the Mystery Hill (“MH”) area, where intercepts are leading the company to anticipate resource additions and the expansion of the Bullfrog pit in the un-mined MH area. BH-20-4 intersected 110 feet averaging 0.274 g/t of gold and 90 feet averaging 0.58 g/t. BH-20-4 intersected 165 feet at 0.24 g/t and 110 feet at 0.58 g/t. The third MH hole, BH 20-8, contained minor intercepts that helped to establish expansion limits to the east.
Further assay results around the two pits and the new Paradise Ridge exploration target are pending. Measured and indicated (“M&I”) NI 43-101-compliant resources have already been estimated on company lands at 525,000 ounces of gold, averaging 1.02 gold g/t in base case pit plans using a $1,200 gold price and 72 percent heap leach recovery. Inferred resources within these pit plans were estimated at 110,000 ounces of gold averaging 1.2 g/t. Recent metallurgical test programs have established that Bullfrog resources are highly amenable to producing very fine leach feeds using high pressure grinding rolls rather than conventional crushing equipment. As a result of higher gold prices along with an 85% heap leach recovery further support the value of the Bullfrog Project.
Bullfrog Gold obtained a significant dataset from Barrick Bullfrog in 2015 (includes 155 miles of drill information) and also is enthusiastic about the Project’s potential as analysts forecast soaring gold prices will reach an all-time high above $1,900 per troy ounce this year and remain at those levels over the next few years (http://ibn.fm/8KIOi).
For more information, visit the company’s website at www.BullFrogGold.com.
NOTE TO INVESTORS: The latest news and updates relating to BFGC are available in the company’s newsroom at http://ibn.fm/BFGC
