- Gold prices continue to climb
- Bullfrog explores area that has produced 2.3 million ounces of gold
- BFGC recently completed 25-hole drill program covering 12,520 feet (3,816 meters), including a 360-foot interval (110 meters) averaging 0.41 g gold/t
With the price of gold climbing and now exceeding $1,800 an ounce, Bullfrog Gold (OTCQB: BFGC) (CSE: BFG) (FSE: 11B) is starting to glitter in investors’ eyes even more. The company recently completed a drill program at its Nevada Project in the Bullfrog Gold District with encouraging results. Most of the drilling was in the Mystery Hill area where thick intervals of gold mineralization were intercepted. As assay results continue to come in, Bullfrog is hoping that the property, which produced 2.3 million ounces from 1989 to 1999, has more to offer. The company’s management team, with well over a century of combined industry experience, may be just the one to unearth any hidden treasure. The company currently has a NI 43-101 measured and indicated resource of 525,000 ounces of gold averaging 1.02 g gold/t within pit plans based on a gold price of $1,200/ounce and a 72% heap leach recovery from a conventionally crushed size of minus 3/8-ich. Recent column leach tests on four bulk samples sized at minus 1/16-inch achieved an averaged gold recovery of 85%.
The Bullfrog project comprises 2,125 hectares (5,250 acres) of land with significant infrastructure about four miles west of Beatty, Nevada (around 125 northwest of Las Vegas). Important pit expansion and exploration targets include Mystery Hill, which is adjacent to the Bullfrog pit, Montgomery-Shoshone and Paradise Ridge. Bullfrog also obtained a large database from previous owner Barrick Bullfrog Inc. , which includes detailed information on 250,000 meters (155 miles) of drilling in 1,262 holes in the area.
In June, Bullfrog completed a 25-hole drill program that covered a total of 12,520 feet (3,816 meters), an expansion of its earlier plan to drill 9,000 feet in 17 holes. To date, results from the project’s Mystery Hill deposit include several thick mineral intervals above the applied cutoff grade of 0.2 g/t and summarized below with assays in grams of gold per tonne.
- BH-20-6: 110 meters averaging 0.41 g/t, including 26 meters of 0.91 g/t
- BH-20-9: 91 meters averaging 0.33 g/tand an upper interval of 6 meters averaging 0.53 g/t at 23 meters
- BH-20-7 intersected 8 meters of 3.22 g/t starting at 46 meters
- BH-20-9 had three significant intercepts plus 91 meters of 0.33 g/t starting at 104 meters
- BH-20-4: 110 feet averaging 0.274 g/t
- BH-20-5: 110 feet averaging 0.58 g/t
It is very important to note that the leach test recovery on the Mystery Hill bulk sample sized at -1/16-inch was 91% compared to an 83% gold recovery from a -3/8-inch size.
Results from five holes in Mystery Hill were released on July 7, 2020. Assays from three holes in the Montgomery-Shoshone (“MS”) deposit, two holes in the new Paradise Ridge target and one hole in the Mystery Hill are expected before mid-July.
Bullfrog is fielding a management team — Alan Lindsay, David Beling and Kjeld Thygesen — that knows how to make the best of these grade and intercept-length metrics. Lindsay, developer and founder of several public companies, is chairman and brings over 42 years of business experience, including 26 years in the mining industry. Beling is president and CEO. He has more than 55 years corporate and project experience with major and junior companies, and has engineered or managed 12 open pit mines, 9 underground mines and 14 process plants. Since 1981, he has sat on the boards of 14 U.S. and Canadian mining companies. A BFGC director, Thygesen has experience stretching over 48 years, including stints in mining research and investment management for James Capel & Co. and N M Rothschild, two prominent financial entities.
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
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