Bullfrog Gold (FROG.V) has has now systematically explored its South Bullfrog holdings in Nevada, and has accrued the requisite data ahead of drilling, the company said on Thursday.
South Bullfrog is drill permitted with five drill ready gold targets. It consists of 488 claims covering 10,050 acres. The property was staked in 2021 just prior to AngloGold's acquisitions in the same area between 2021 to 2025, the company said. It is centrally located between AngloGold's Bullfrog, North Bullfrog, and Arthur development projects.
AngloGold announced a pre-feasibility last March that includes the first-ever gold reserves at Arthur, which is in the same area, totaling 4.9 million ounces gold from two deposits with the potential to support an initial nine year mine life with average annual gold production of 500,000 ounces, a statement added.
"We had the foresight to stake South Bullfrog in 2021 prior to consolidation of the district by AngloGold and despite its central location in the district, favourably oriented faults, and widespread adits, shafts and workings from historical mining, South Bullfrog had not seen modern exploration methods," said Ian Slater, chief rxecutive officer. "South Bullfrog has now been systematically explored and has the foundational geological mapping, geochemical sampling, satellite alteration, and geophysical data sets required to position Bullfrog Gold for discovery in 2026."
Bullfrog Gold shares last traded on June 3, closing at $0.13, on the TSX Venture Exchange.