Bullfrog Gold Corp (OTCQB: BFGC) (CSE: BFG) (FSE: 11B) (“Bullfrog”, “BFGC” or the “Company”) is pleased to announce a drill program at its Bullfrog Project (“Project”) located 125 miles NW of Las Vegas, Nevada.
Arrangements for site preparation and drilling are in place and an accredited laboratory in Reno has been engaged to assay drill samples. The program is fully funded and permitted, cash reclamation bonds have been posted and a cultural-archaeological survey was recently completed to allow drilling on lands leased and optioned to purchase from Barrick Bullfrog Inc. The direct program cost is estimated at $500,000 for drilling, assaying, geological personnel and field services. The program consists of drilling 9,000 feet in 17 holes as described below during a 6 week period starting in early May, unless changes are imposed by the coronavirus crisis.
- Drilling priority holes NE of the existing Bullfrog and around the Montgomery-Shoshone pits to expand resources and pit limits. Most of this drilling will be on lands leased from Barrick and is required to meet final work commitments and thereby allow the purchase of said lands by September 23, 2020. After drill results are analyzed, a few additional holes will likely be drilled in a subsequent program to fully optimize ultimate pit limits.
- A few priority, but discretionary holes are planned in our new Paradise Ridge exploration target located one mile east of the Bullfrog Pit. Geological studies of this target have identified an undrilled area 2,000 meters long and 350 meters wide that has the identical host rocks as the 2+ million ounce Bullfrog deposit, similar structures and gold in surface samples. Testing the entire target will require much more drilling in subsequent programs.
In summary, the Company is committed to conserve cash during the global crisis but will also meet its 2020 obligations while adding value and advancing the Project.
About Bullfrog Gold Corp.
Bullfrog Gold Corp. is a Delaware corporation that controls the commanding land and mineral positions in the Bullfrog Mine area where Barrick Bullfrog Inc. produced 2.3 million ounces of gold by conventional milling beginning in 1989 and closing in early 1999 when the gold price was under $300/ounce.
The large data base obtained from Barrick includes detailed information on 155 miles of drilling in the Bullfrog area. An independent 43-101 report prepared in 2017 estimated mineralization at 624,000 ounces at 0.7 g/tonne gold within expanded pit plans on the Company’s lands based on a gold price of $1,200 and heap leaching. An annual production rate of at least 60,000 ounces is currently envisioned by management, or more depending on success from drill programs. Much additional technical and corporate information may be sourced at www.bullfroggold.com.