Bullfrog Gold, the domestic precious minerals developer currently focused on holdings in Nevada (1.65k acres and two patents adjacent to Barrick Gold’s Montgomery-Shoshone mine) and Arizona, is reporting a recommencement of drilling activities today on their Newsboy Gold Project as a third round of drilling is slated to commence.
The 30-hole program, slated for completion by early this April, will be targeting the area of the main deposit, in addition to the new Queen of Sheba area, with a potential fourth program sometime before the middle of June also proposed to explore some of the other highly prospective targets (eight in total, with a total current potential mineral site inventory of roughly 838k oz Au and 15.3M oz Ag). Newsboy is a great little 4.9k-acre project and sits just 45 miles outside of Phoenix to the northwest, affording excellent logistical support for all activities.
Noted local construction, drilling, and water management firm, Layne Christensen, who handled the first two drilling programs completed last year, has been pegged for this latest round and analytics will once again be performed by Skyline Labs out of Tucson. Bullfrog will be looking to sandwich in an independent mineral resource estimate update on the entire project as well after this third round of drilling, and markets will be eager to get a look at the new data sometime around April.
The first batch of 12 holes should start going in before the end of this month on the two leased patents detailed in the Dec 17 news release, as well as a State of Arizona Exploration Permit, with the remaining 18 holes on Federal lands merely awaiting customary approval by the Arizona Department of Water Resources and BLM. All lights look green thus far and the company has also landed the necessary Authority to Operate for round three of drilling as per the Maricopa County Air Quality Department requirements (via an updated General Permit granted Jan 11).
Bullfrog is go to explore the higher grade intercepts from the main deposit area that were kicked up during the previous two programs, and the tantalizing potential in the Queen of Sheba exploration area, where mineralization levels appear even higher than in the main deposit area, should no doubt spur the work on heartily.
Bundesbank (Central Bank of the Federal Republic of Germany) just officially moved to repatriate gold from New York and Paris amid protracted fundamental problems in the EU (basically looking to shore up domestic confidence and facilitate gold/foreign currency exchanges) and the PBOC (The People’s Bank of China) is hoarding gold like gangbusters with Shanghai even moving towards a broadened OTC gold trading space with strong ETF support. The macro signals here are unmistakable and domestic juniors like BFGC that have metal in the ground are looking like better and better stewards for precious investment capital as things start to really heat up.
For more information on Bullfrog Gold, visit www.BullFrogGoldCorp.com
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