via NetworkWire – Bullfrog Gold Corp. (BFGC:OTCQB; BFG:CSE;
11B:FSE) (“Bullfrog,” “BFGC” or the “Company”) today
announced assay results from five more of the 25 holes recently
drilled at its Bullfrog Project (“Project”). The Project comprises
2,125 hectares (5,250 acres) of strategic lands, established
resources and prospective exploration potential in the Bullfrog
Mining District located 4 miles west of Beatty, Nevada (200 km
northwest of Las Vegas, Nevada). The Bullfrog and surrounding area
are in one of the most prolific gold exploration regions in North
America that includes significant activities by neighboring
AngloGold, Kinross Gold, Coeur Mining and Corvus Gold. The Company
has commanding land and resource positions in the Bullfrog mine
area and obtained Barrick Bullfrog Inc.’s large data base,
including detailed information on 250,000 meters (155 miles) of
drilling in the area.
Key Points
- Drilling continued to intercept thick intervals of gold
mineralization in the Mystery Hill (MH) deposit, including 46
meters averaging 0.30 g gold/t and 24 m of 0.35 g/t. Another hole
intersected 14 m at 2.42 g/t in the main Bullfrog vein, including 6
m at 4.89 g/t starting at a depth of 42 m. Most of the thicker,
lower grade intercepts are not within previous estimates of
measured and indicated resources.
- The new holes now provide much closer hole spacings to support
potential increases in resources in higher classifications. A
column leach test of a MH bulk sample that contained 0.34 g/t also
achieved a 91% gold recovery from a very fine size compared to two
Bullfrog bulk samples that averaged 1.2 g/t and recovered 83% at
the same fine size.
- Assays coming in the next two weeks include 3 holes in the
Montgomery-Shoshone (MS) deposit, 1 hole in the MH deposit and 2
holes in the Paradise Ridge exploration target.
- Twenty-one of the 25 holes were drilled on lands leased from
Barrick to fulfill a final work commitment and, thereby, allow the
Company to purchase by mid-September a 100% interest in those
lands, subject to production royalties.
MH Drill Hole Assay DataTable 1
shows the assay and drill data on five additional MH holes, all of
which contained significant mineral intercepts. The high-grade
intercept in BH-20-10 is in the Bullfrog brecciated vein whereas
all the lower grade intercepts are in the MH mineralized fault
zone. This interval is consistent in grade and confirms continuity
along the strike and dip of similar mineralized intervals in
surrounding old drill holes.
Table
1 |
Mystery Hill
Drill and Assay Data |
|
Hole |
MH Intervals, Feet 2 |
|
MH Intervals, Meters 3 |
Gold 1 |
Silver |
|
Total |
No. |
From |
To |
Length |
|
From |
To |
Length |
g/t |
g/t |
|
Depth, Ft |
|
|
|
|
|
|
|
|
|
|
|
|
BH-20-10 |
135 |
180 |
45 |
|
41 |
55 |
14 |
2.416 |
2.19 |
|
660 |
includes |
135 |
155 |
20 |
|
41 |
47 |
6 |
4.892 |
4.14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
340 |
360 |
20 |
|
104 |
110 |
6 |
0.576 |
0.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BH-20-11 |
90 |
130 |
40 |
|
27 |
40 |
12 |
0.297 |
0.20 |
|
660 |
|
160 |
185 |
25 |
|
49 |
56 |
8 |
0.308 |
0.08 |
|
|
|
220 |
300 |
80 |
|
67 |
91 |
24 |
0.354 |
0.18 |
|
|
|
420 |
455 |
35 |
|
128 |
139 |
11 |
0.201 |
0.34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BH-20-12 |
105 |
170 |
65 |
|
32 |
52 |
20 |
0.353 |
0.33 |
|
460 |
|
260 |
300 |
40 |
|
79 |
91 |
12 |
0.454 |
0.18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BH-20-13 |
0 |
70 |
70 |
|
0 |
21 |
21 |
0.244 |
0.28 |
|
560 |
|
125 |
165 |
40 |
|
38 |
50 |
12 |
0.435 |
0.34 |
|
|
|
310 |
460 |
150 |
|
95 |
140 |
46 |
0.304 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BH-20-18 |
15 |
35 |
20 |
|
5 |
11 |
6 |
0.231 |
0.21 |
|
350 |
|
130 |
225 |
95 |
|
40 |
69 |
29 |
0.222 |
0.16 |
|
|
|
245 |
315 |
70 |
|
75 |
96 |
21 |
0.237 |
0.00 |
|
|
Tot./ Wtd. Avg |
|
795 |
|
|
|
242 |
0.426 |
0.32 |
|
|
|
1 Nominal gold cut
off: 0.20 g/t. Could be lower with current gold prices and higher
leach recovery. |
Minimum 20 feet waste
between mineral intervals. Maximum 20 feet waste within mineral
intervals. |
2 As spatial data is
not currently available, mineral interval lengths are not true
thicknesses. |
3 Rounded - Decimals
not shown |
The use of high pressure grinding rolls (HPGR)
to produce column leach feeds having more micro-fractures in a
minus 1/16-inch size achieved an average recovery of 85.8% from
four bulk samples compared to 70.7% from a conventionally crushed
size of minus 3/8-inch. These representative bulk samples were
collected near the bottom of the Bullfrog and Montgomery-Shoshone
(MS) pits and a dump from a 140-foot deep shaft in the MH area. The
MH sample contained 0.34 g/t, yet recoveries were 91% at the very
fine size compared to 83% from the conventional crushed size of
3/8-inch size. The Bullfrog area mineralization is highly amenable
to using HPGRs rolls and leaching at very fine sizes, but
additional sampling and testing are planned to provide greater
certainty of gold and silver recoveries and further support future
Project studies.
Most of the Company’s resources are on lands in
the Barrick lease/option and located within the dashed green line
on Figure 1 and northern part of the pit. The north Bullfrog
resources have been adequately drilled in all dimensions necessary
to optimize and design a final pit plan, but a few more holes may
be cored to provide samples for column leach testing. The MH now
appears to have enough definition drilling, but core from one or
two more holes may also be collected for column leach testing.
Figure 1 also shows the location of the cross section through the
north Bullfrog pit and the Mystery Hill area. Figure 2 is the cross
section that shows the high grade Bullfrog vein in a gold color and
the mineralization in the MH fault that outcrops, dips to the west
and connects to the Bullfrog fault at
depth.
Drill Holes, Pit Expansions and
Cross Section Locations Figure
1: https://www.globenewswire.com/NewsRoom/AttachmentNg/27b3ba7e-5e4d-48ac-bcd3-5921ce130f76
Cross Section through North Bullfrog Pit
& Mystery Hill AreaFigure
2: https://www.globenewswire.com/NewsRoom/AttachmentNg/c54c2bef-f44f-40f8-b654-52ce9bccd509
Montgomery-Shoshone and Paradise Ridge
Exploration TargetAssays from the three remaining holes
drilled in the west side of the MS area and two holes drilled in
the south zone of the Paradise Ridge target are expected to be
released before mid-July 2020.
About Bullfrog Gold Corp. and Current
ResourcesBullfrog Gold Corp. is a Delaware corporation
that controls the commanding land and mineral positions in the
Bullfrog Mine area where Barrick produced 2.3 million ounces of
gold by mining and conventional milling beginning in 1989 and
ending in 1999 when ore reserves were depleted.
Measured and indicated (M&I) 43-101 compliant resources
were estimated in mid-2017 by Tetra Tech Inc. at 525,000 ounces of
gold, averaging 1.02 gold g/t in base case plans of the MS and
Bullfrog pits, the latter of which included minor MH resources.
Most of these resources are in the north extension to the Bullfrog
pit. Inferred resources were estimated at 110,000 ounces of gold
averaging 1.2 g/t. Based on the wide-spaced drill holes, most of
the MH resources are also in the inferred classification. It is
noted that the 3-year trailing average gold price is now $170
higher than the $1,200 average price used in 2017. The resource
estimates were also based on a heap leach gold recovery of 72%
compared to the average 85% leach test recoveries recently achieved
on four bulk samples.
Quality Control/Quality
AssuranceThe drill program was designed by David Beling,
CEO and P.E., and managed by Clive Bailey, CPG and Lead Consultant
responsible for all aspects of field activities, geological
services and quality assurance and control requirements. On-site
personnel log and track all samples prior to sealing and shipping.
Quality control is monitored by the insertion of blind, certified
standard reference materials, duplicate splits, and blanks into
each sample shipment. All samples are shipped to American Assay
Laboratories (AAL) in Reno, Nevada, for preparation and assaying.
AAL is independent of the Company, and its quality system complies
with the requirements for the International Standards ISO 9001:2000
and ISO 17025:1999. Analytical accuracy and precision are monitored
by the analysis of reagent blanks, reference material and duplicate
samples. Upon receipt of all assays, additional field samples and
pulps may be assayed by other labs to further validate and verify
results. Mr. Beling has verified the data underlying the
information disclosed herein, including sampling, analytical and
test data, and reviewing the reports of AAL, methodologies, results
and all procedures undertaken for quality assurance and quality
control in a manner consistent with industry practice.
Qualified PersonDavid Beling,
P.E., has 55 years of project and corporate experience in the
mining industry and is a qualified person as defined by Canadian
National Instrument 43-101 – Standards of Disclosure or Mineral
Projects. Mr. Beling has prepared, supervised the preparation of,
or approved the technical information that forms the basis of the
Company’s disclosures but is not independent of Bullfrog Gold Corp.
For further information, please contact David Beling, CEO &
President, at (970) 628-1670.
Cautionary Note Regarding Forward
Looking StatementsThis press release contains certain
"Forward-Looking Statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included
herein including those with respect to the objectives, plans and
strategies of the Company and those preceded by or that include the
words "believes," "expects," "given," "targets," "intends,"
"anticipates," "plans," "projects," "forecasts" or similar
expressions, are forward-looking statements that involve
various risks and uncertainties.
Such forward-looking information and statements
are based on numerous assumptions, including among others, the
Company's ability to successfully maintain its listings, the
stability of industry and market costs and trends and the Company's
ability to obtain all regulatory approvals required for its planned
objectives. Furthermore, by their very nature, forward-looking
information involves a variety of known and unknown risks,
uncertainties and other factors which may cause the actual plans,
intentions, events, results, performance, or achievements of the
Company to be materially different from those expressed or implied
by such forward-looking information. Such risks, uncertainties and
other factors include, without limitation, those related to: (a)
adverse regulatory or legislative changes (b) market conditions,
volatility and global economic conditions (c) industry-wide risks
(d) the Company's inability to maintain or improve its competitive
position and (e) the ability to obtain financing needed to fund the
continued development of the Company's business. The Company is
presently an exploration stage company. Exploration is highly
speculative in nature, involves many risks, requires substantial
expenditures, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermore, the
Company currently has no reserves on any of its properties.
As a result, there can be no assurance that such forward-looking
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Additional information regarding important
factors that could cause actual results to differ materially from
the Company's expectations is disclosed in the Company's documents
filed with the United States Securities & Exchange Commission
or on www.sedar.com. Investors are urged to consider closely
the disclosures in our Form 10-K and other SEC filings, which can
be obtained from the SEC’s website at http:www.sec.gov/edgar.shtml.
Additional technical and corporate information may also be sourced
at www.bullfroggold.com.
Corporate
Communications:InvestorBrandNetwork (IBN) Los Angeles,
California www.InvestorBrandNetwork.com 310.299.1717 Office
Editor@InvestorBrandNetwork.com
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