Bullfrog Gold Corp. (OTCQB:BFGC) (CSE:BFG) (FSE:11B) announces initial gold and silver assay results from six of 25 holes drilled at its Bullfrog Project. The Project comprises 5,250 acres of strategic lands, established resources and prospective exploration potential in the Bullfrog Mining District, located 4 miles west of Beatty, Nevada, and 125 miles northwest of Las Vegas, Nevada.
2020 Drill Program
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. These holes are also needed to better define and expand resources and limits of both pits and subsequently optimize pit plans and Project financial performance in a preliminary economic analysis. Table 1 shows detailed assay results.
Figure 1 shows the locations of the 25 holes drilled and six holes assayed, the Bullfrog and M-S proposed pit expansions, the Company’s new Paradise Ridge exploration target and the location of two cross sections described herein. Most of the Company’s resources are located in the north Bullfrog deposit within the dashed green line on Figure 1 and northern one-third of the pit, and they are on lands in the Barrick lease/option.
|Initial Assay Results|
|Hole No.||Mineral Intervals, Feet||Gold||Silver||Total|
|Nominal gold cut off grade: 0.20 g/t|
|BM = Montgomery-Shoshone and BH = Mystery Hill|
Assays from three of the six holes completed in the MS area are summarized in Table 1 and the location of these holes is shown on Figure 1. Assays from the remaining three holes are expected before mid-July 2020.
For reference, the Barrick blast hole assay map of the lowest bench in the MS pit shows that 278 of the 339 holes, or 82%, were above a gold cutoff grade of 0.2 g/t. Additionally, 81% of the blast holes along the perimeter of this lowest bench also assayed above 0.2 g/t. Blast hole data can be used to complement exploration drill information and, thereby, better define and project economic resources around and below the pits while elevating resources to higher classifications of confidence. This information may also allow a reduction of peripheral waste that otherwise may be included in a pit plan. MS blast holes were typically spaced about 15 feet apart, whereas exploration holes that define the resources within the MS pit plans averaged 90 feet. These spacings were sufficient for Barrick to estimate proven and probable ore reserves and design and operate the MS pit at a gold cutoff grade of 0.5 g/t.
Drill Holes Locations, Pit Expansions and Cross Section Locations
Assays were received on three of the 17 holes drilled in the MH area that are on Barrick’s leased lands. The north pit extension (shown in green on Figure 2) has been adequately drilled in all dimensions, but the MH area adjacent to the existing Bullfrog pit required drilling to expand resources and better define ultimate pit limits. It is notable that leach tests achieved a 91% gold recovery from a MH bulk sample averaging only 0.34 g/t by using HPGRs to produce a finer, more fractured column leach feed size of -1/16 inch. In this regard, the Bullfrog area resources are highly amenable to the beneficial use of HPGRs.
As the north Bullfrog extension was underground mined and the adjacent Mystery Hill deposit was not mined, blast hole data would only be applicable to the north and northeast peripheral segments of the existing Bullfrog pit limit.
North Bullfrog Pit & Mystery Hill Area
For reference, drill and assay data for four of the six existing holes within the MH area are shown in Table 2. Most of these intercepts were included as inferred resources estimates, but the previous wide drill spacings did not meet measured and indicated resources classification criteria. Notwithstanding, the new drill holes were designed to potentially expand as well as upgrade resource classifications.
|Summary of Previous Drill Results|
|Mystery Hill Area|
|Hole||Mineral Intercepts Less Than 325 Feet Deep|
|No.||Thick, Ft||Au G/T||Ag G/T||From, ft||To, ft|
Paradise Ridge Target
The Paradise Ridge target was developed by the Company after extensive study of surface sampling and the recognition of 1) host zones of this target that are identical to those in the BF deposit; 2) the presence of significant structural features; 3) gold in surface samples; and 4) existing drill holes that are too far east and west to test this new target. Two holes were drilled in the south zone of the Paradise Ridge target area. Figure 3 shows a geologic, east-west cross section through the Bullfrog pit and the south zone of the Paradise Ridge target along with projections of the central and north zones. This section shows that a Bullfrog-type deposit could fit within and possibly occur in the Paradise Ridge target. However, there previously were no drill holes within the Company’s defined target, and there are no assurances expressed or implied that any resources might be discovered.
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 produced 2.3 million ounces of gold by conventional milling beginning in 1989 and ending in 1999. Measured and indicated 43-101 compliant resources were estimated in mid-2017 by Tetra 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. Inferred resources within these pit plans were estimated at 110,000 ounces of gold averaging 1.2 g/t.
It is notable that gold prices are currently $500 higher than the $1,200 estimate used in the 2017 estimates, and column leach tests on four bulk samples achieved an average 85.8% recovery using HPGR’s to produce a much finer, more fractured heap feed (minus 1/16-inch) compared to the 70.7% recovery from conventionally crushed product to -3/8-inch.
Quality Control/Quality Assurance
The drill program was designed by David Beling, CEO and P.E., and supervised 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, a qualified person, 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.
David 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.
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We acknowledge the [financial] support of the Government of Canada.