- Investors have been showing exuberance in gold during the novel coronavirus pandemic, driving prices up nearly 44 percent as of mid-June since a low in September 2018
- Bullfrog Gold Corp. continues to achieve significant gold intercepts at the historically productive Bullfrog Project in southwestern Nevada, with assay reports on nine additional holes that better define the Bullfrog resources and pit limits and potential for expansions. One hole drilled in the Mystery Hill pit showed an intersection of 110 meters averaging 0.41 g gold/t, including 26 meters of 0.91 g/t, while another intersected 91 meters averaging 0.33 g/t and an upper interval of 6 meters averaging 0.53 g/t
- Bullfrog Gold is fulfilling a final work commitment that will let the company buy a 100 percent interest in the project this Septemberfrom Barrick Bullfrog Inc (Barrick) , which produced more than 2 million ounces of gold from the project until depletion of ore reserves in early 1999
Bullfrog Gold (CSE: BFG) (OTCQB: BFGC) (FSE: 11B) is well poised to use its large database , existing resources and poterntial exploration targtes to capitalize on the sudden surge in gold demand during the novel coronavirus pandemic, which in June had taken the market to close to a 44 percent increase since its $1,202.44 low in September 2018 (http://nnw.fm/xH3IQ).
Bullfrog Gold has recently completed a 25-hole strategic drilling program on the 5,250-acre Bullfrog Project lands outside of Beatty, Nev., accessible from Las Vegas’ transportation hub 125 miles to the southeast. Assay results from the exploratory drilling have been coming back in stages, and on June 30 the company announced the addition of nine assays to the initial six holes whose results were announced a couple weeks earlier (http://nnw.fm/6Lrcq).
The hole assays continue to show significant gold intercepts that better define all resource classifications within a potential expansion of the Mystery Hill deposit within the existing Bullfrog pit. The other holes were drilled to better define resource and pit expansions to the Montgomery-Shoshone deposit and initially test the new Paradise Ridge exploration target (http://nnw.fm/5cFYb). The Bullfrog mine area is in the heart of one of the most active gold regions in the world and is being aggressively explored by AngloGold, Kinross Gold Coeur Mining, and Corvus Gold.
Most of the holes are on Barrick’s lands where more than one million ounces of the total 2.3 million ounces of gold were recovered during the 1990s using conventional milling operations (http://nnw.fm/RNv64). Bullfrog Gold has obtained a significant dataset from Barrick with 155 miles of drill information.
The nine new assay results include intersections in the Mystery Hill area showing 110 meters averaging 0.41 g/t of gold in one of the holes and 91 meters averaging 0.33 g/t in another, including notable segments of 26 meters of 0.91 g/t and 6 meters averaging 0.53 g/t. A third hole showed an intercept of 3.22 g/t across 8 meters starting at 46 meters deep.
Most of the new intercepts are not in areas previously included in measured and indicated resource classifications. The previous NI 43-101-compliant resource estimates within parts of the project area show 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. Other inferred resources were estimated at 110,000 ounces of gold averaging 1.2 g/t.
Bullfrog Gold is enthused about the project’s potential, particularly given recent market price trends and metallurgical test programs that have shown Bullfrog resources are highly amenable to producing very fine leach feeds and achieving an average 85% gold recovery using high pressure grinding rolls rather than conventional crushing equipment. .
Barrick ceased milling operations upon depletion of ore reserves in 1999. During the decade of project operations, Barrick extracted about 26.1 million metric tons of open pit and underground ores from Bullfrog’s epithermal gold systems, averaging 2.98 g/t gold and 4.57 g/t silver.
In early July, Bullfrog Gold expects to receive the remaining assays from three remaining holes in the Montgomery-Shoshone deposit, five holes in the Mystery Hill deposit and two holes in the new Paradise Ridge target.
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://nnw.fm/BFGC
MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge.
To receive SMS text alerts from MiningNewsWire, text “BigHole” to 21000 (U.S. Mobile Phones Only)
For more information, please visit https://www.miningnewswire.com
MiningNewsWire is part of the InvestorBrandNetwork.