Bullfrog Gold Lists on the Canadian Securities Exchange and Provides Nevada Project Updates
GRAND JUNCTION, Sept. 10, 2019 - 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.