PR: Gold Mining Opportunities on the Rise as Gold Nears 52 Week High
Gold prices have moved higher for six consecutive weeks with the precious metal up more than 0.9% ahead of last week's market close. Recent beliefs in the sector suggest that although inflation indicators remains flat, investors continue to seek an alternative to fiat currencies as the efficacy of monetary easing diminishes.
In latest advancements in the Gold mining sector: Bullfrog Gold Corp (OTC: BFGC) (OTCQB: BFGC) ("Bullfrog" or the "Company") is pleased to provide updates and further attributes of the Company and its Bullfrog Gold Project located 120 miles NW of Las Vegas Nevada:
• 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.