Bullfrog Gold’s 43-101 Resource Report Posted on Website
Grand Junction, Colorado. – August 15, 2017 – Bullfrog Gold Corp (OTCQB:BFGC) (the “Company” or “BFGC”), is pleased to announce that Tetra Tech Inc.’s NI 43-101 resource report on the Bullfrog Gold Project (Project) has been posted on the website www.bullfroggold.com. The results of this report were released on June 27, 2017 and included measured and indicated (M&I) resource estimates of 525,000 ounces averaging 1.02 g/t using a gold price of $1200/oz and a base case cutoff grade of 0.36 g/t. Inferred resources were estimated at 120,000 ounces of gold averaging 1.20 g/t. These estimates are supported by a data base that includes 1,262 holes containing 155 miles of coring and drilling.
Extensive metallurgical test work has demonstrated that heap leach gold recoveries of more than 72% are achievable for a crush size of 80% minus 3/8-inch. As a 49% gold recovery from simulated run-of-mine mineral has also been achieved, an additional 99,000 ounces of M&I resources averaging 0.26 g/t and using a 0.2 g/t cutoff grade may be leached without crushing.
About Bullfrog Gold Corp.
Bullfrog Gold Corp. is a Delaware corporation that initially acquired a strategic land position in the Bullfrog Mining District in 2011 and subsequently acquired from Barrick Bullfrog Inc. and others additional lands that have established resources and good exploration potential. The Bullfrog Project is located 120 miles NW of Las Vegas, Nevada.
Contact Information: David Beling, PE, President, CEO & Director, (970) 628-1670
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and information within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results and the timing thereof, the discovery and delineation of mineral deposits/resources/reserves, the potential for the identification of multiple deposits in the Project area, the potential for a low capex and/or opex heap leach mine operation, the potential for a production decision to be made, the potential commencement of any development of a mine following a production decision, the potential for any mining or production, the potential for additional resources to be located between certain of the existing deposits, business and financing plans and business trends, are forward-looking statements. Information concerning mineral resource estimates are deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered, and the results of mining it, if a mineral deposit were developed and mined. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, significant increases in the cost of labor, materials, equipment and supplies required to develop and operate any mine, the Company’s inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s latest filings with the SEC. All of the Company’s public disclosure filings may be accessed via www.sec.gov and readers are urged to review these materials with respect to the Company’s mineral properties.
Cautionary Note Regarding References to Resources and Reserves
National Instrument 43 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in or incorporated by reference in this press release have been prepared in accordance with NI 43-101 and the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resource and Mineral Reserves, adopted by the CIM Council on November 14, 2004 (the “CIM Standards”) as they may be amended from time to time by the CIM. United States shareholders are cautioned that the requirements and terminology of NI 43-101 and the CIM Standards differ significantly from the requirements and terminology of the SEC set forth in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”). Accordingly, the Company’s disclosures regarding mineralization may not be comparable to similar information disclosed by companies subject to SEC Industry Guide 7. Without limiting the foregoing, while the terms “mineral resources”, “inferred mineral resources”, “indicated mineral resources” and “measured mineral resources” are recognized and required by NI 43-101 and the CIM Standards, they are not recognized by the SEC and are not permitted to be used in documents filed with the SEC by companies subject to SEC Industry Guide 7. Mineral resources which are not mineral reserves do not have demonstrated economic viability, and US investors are cautioned not to assume that all or any part of a mineral resource will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility study, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit amounts. The term “contained ounces” is not permitted under the rules of SEC Industry Guide 7. In addition, the NI 43-101 and CIM Standards definition of a “reserve” differs from the definition in SEC Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made, and a “final” or “bankable” feasibility study is required to report reserves, the three-year historical price is used in any reserve or cash flow analysis of designated reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.