GRAND JUNCTION, CO--(Marketwired - Jul 12, 2016) - Bullfrog Gold Corp (
The Bullfrog Mining District ("District") hosts an enormous epithermal gold system from which Barrick Bullfrog Inc. ("Barrick") produced 2.3 million ounces of relatively high grade gold from open pit and underground ores during the period 1989 into 1998.
Remaining mineralization in and around Barrick's mines was estimated by the Company to contain 470,000 ounces of gold averaging 0.89 ounces per tonne. See press release of April 11, 2016. The Company believes this mineral inventory supports an open pit mining and heap leaching project under current market conditions.
The Company's lands have strong potential for expanding known mineralization as well as discovering new zones.
A debt obligation of more than $2.8 million was recently eliminated, thereby enhancing the Company's balance sheet and its ability to fund and advance the Project. See press release of July 6, 2016. The Company now has less than $500,000 of debt, which is anticipated to be paid off during the next few months.
Project infrastructure is excellent and includes:
In summary, the Company has the personnel, knowledge, and experience to grow and optimize the Project for the mutual benefit of all stakeholders.
Cautionary Note Regarding Forward Looking Statements
This press release may contain 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. 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 sufficient 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.
Contact Information:
Contact Information:
David Beling
PE, President, CEO & Director
(970) 628-1670