via NEWMEDIAWIRE –
Bullfrog Gold Corp (OTCQB:BFGC
and CSE:BFG) (“Bullfrog”, “BFGC” or the “Company”) is pleased to
announce listing approval on the Canadian Securities Exchange
(“CSE”), the issuance of environmental permits and metallurgical
test results at its Bullfrog Project (“Project”) located 125 miles
NW of Las Vegas, Nevada.
Listing on Canadian Securities Exchange
On September 11, 2019 the Company will begin trading on the CSE
under the symbol “BFG”. The Company has filed a non-offering
prospectus in British Columbia and is now a reporting issuer in
British Columbia and Ontario. In addition, the Company has changed
its auditors to Davidson & Company LLP and its transfer agent
to National Securities Administrators Ltd. (both based in
Vancouver, Canada) to provide related services in the US and
Canada.
David Beling, the Company’s CEO, stated: “We are extremely
pleased with the dual listing to provide greater liquidity for our
shareholders and significantly broaden our access to investors in
Canada, the UK, Europe, and other countries.”
Permitting
The remaining two of four permit applications (“Notices”) have
now been approved by the US Bureau of Land Management, which
combined with previous approvals by the BLM and Nevada, allow for
drilling priority exploration and pit expansion targets on Bullfrog
lands.
Metallurgical Testing
Encouraging results from column leach tests on bulk samples from
the Bullfrog (BF), Mystery Hill (MH) and Montgomery-Shoshone (MS)
areas are summarized in the table below. Gold recoveries from three
column tests sized at minus 1/16-inch averaged 84%. McClelland
Laboratories of Reno, Nevada is performing these leach tests using
conventional crushing (Conv.) and high-pressure grinding rolls
(HPGR) to produce the two finer sizes. Cyanide, lime and cement
requirements were relatively low. Favorable load/permeability tests
on leached residues, including the fine agglomerated size of minus
1/16”, allow heap heights up to 200 feet.
The five remaining tests appear to be performing well with
results to be released soon after the remaining tail assays and
load/permeability data becomes available. In summary, the Bullfrog
area ores are highly amenable to leaching fine sizes produced from
HPGR’s, as evidenced by an average gold recovery increase of nearly
17% from the 1/16” HPGR versus the 3/8” conventional crush in the
two BF test series completed to date.
For reference, column leach tests completed in 1994 by Kappes
Cassiday labs achieved a gold recovery of nearly 76% on 40 kg
of representative BF stockwork mineralization averaging 0.99
g/t that was conventionally crushed to -3/8” and leached for 41
days. An 800-ton pilot heap leach test performed by Barrick
Bullfrog Inc. in 1995 recovered 67% on similar mineralization
averaging 0.65 g/t and conventionally crushed to
-1/2”; however, this test would likely have recovered near 76%
of the gold had the heap been crushed to -3/8”, leached longer
than 41 days and if reported solution distribution issues did
not occur.
|
Column Leach Test Summaries |
|
Deposit |
Test |
Leach |
Leach Size, |
p80 |
Crush |
Calc. |
Avg. Head |
Gold 1 |
|
|
Year |
Days |
Inch 2 |
mm |
Type |
Head, g/t |
Assay, g/t |
Rec., % |
|
BF |
2018 |
84 |
3/8 |
9.5 |
Conv. |
0.79 |
0.89 |
58.2 |
|
|
|
84 |
1/16 |
1.7 |
HPGR |
0.84 |
0.89 |
77.4 |
|
|
|
|
|
|
|
|
|
+19.2 |
|
BF |
2019 |
151 |
3/8 |
9.5 |
Conv. |
1.54 |
1.71 |
75.3 |
|
|
|
122 |
1/4 |
6.3 |
HPGR |
1.66 |
1.71 |
77.1 |
|
|
|
102 |
1/16 |
1.7 |
HPGR |
1.60 |
1.71 |
89.4 |
|
|
|
|
|
|
|
|
|
+14.1 |
|
MS |
2019 |
77 |
3/8 |
9.5 |
Conv. |
TBD |
0.87 |
TBD |
|
|
|
82 |
1/4 |
6.3 |
HPGR |
TBD |
0.87 |
TBD |
|
|
|
78 |
1/16 |
1.7 |
HPGR 3 |
0.89 |
0.87 |
85.4 |
|
|
|
|
|
|
|
|
|
|
|
MH |
2019 |
71 |
3/8 |
9.5 |
Conv. |
TBD |
0.34 |
TBD |
|
|
|
71 |
1/4 |
6.3 |
HPGR |
TBD |
0.34 |
TBD |
|
|
|
54 |
1/16 |
1.7 |
HPGR 3 |
TBD |
0.34 |
TBD |
|
1 Final recoveries are derived from tail assays and calculated head
grades |
|
|
|
2 1/16-inch is approximately 10 mesh |
3 Agglomerated with cement |
Area Land Positions
The Beatty area is highly active for gold exploration and has
several major land holdings controlled by Bullfrog Gold, AngloGold,
Coeur Mining, Corvus Gold and Waterton Global Resources. Kinross
Gold also entered the area by recently staking nearly 200 mining
claims west of the Company’s major land block.
About Bullfrog Gold Corp.
BFGC 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 from 1989 into 1999. An independent Canadian National
Instrument 43-101 compliant report prepared in August 2017
estimated mineralization at 624,000 ounces at 0.7 g/tonne gold
within expanded pit plans based on a gold price of $1,200 and use
of heap leaching. The Company obtained a large database from
Barrick, including detailed information on 155 miles of drilling in
the area, and has defined BF and MS pit expansions and several
prospective exploration targets.
Cautionary Note Regarding Forward Looking
Statements
This 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. Forward looking
information in this press release includes but is not limited to
statements regarding increased liquidity for the Company’s
shareholders and the application of metallurgical testing
results.
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.
We use certain terms in this valuation such as “mineralization”
and “mineral inventory estimates” that are not defined in Canadian
National Instrument 43-101; or recognized under the U.S. SEC
Industry Guide 7. 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
resources or 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 from time to time
with the United States Securities & Exchange Commission.
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, or sourced through
www.bullfroggold.com.
Qualified Person
David Beling, P.E. is a qualified person as defined by Canadian
National Instrument 43-101 – Standards of Disclosure or Mineral
Projects and has prepared, supervised the preparation of, or
approved the technical information that forms the basis of the
Company’s disclosures. Mr. Beling is not independent of Bullfrog
Gold Corp, as he is the CEO & President and holds common shares
and incentive stock options of the Company.
For further information, please contact David Beling, CEO &
President, at (970) 628-1670.
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