Bulgold Acquires 100% Of The Lutila Gold Project In Slovakia For €100
09/27/23, 11:04 AM
Industry
mineral
precious metals
mining
manufacturing
BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) is pleased to announce that it has exercised its option to acquire 100% of the Lutila Gold Project (the “property” or “exploration licence”) in Slovakia for the price of €100. The Lutila exploration licence covers an area of 32.2km2, hosts a significant amount of target areas, is prospective for epithermal gold mineralisation and has been granted for an initial 4-year period.
Company Info
Company info
BULGOLD is a gold exploration company focused on the exploration and development of mineral exploration projects in Central and Eastern Europe. The Company controls 100% of three quality quartz-adularia epithermal gold projects located in the Slovakian and Bulgarian portion of the Western Tethyan Belt: the Lutila Gold Project, the Kutel Gold Project and the Kostilkovo Gold Project. Management of the Company believes that its assets show potential for high-grade, good-metallurgy, low-sulfidation epithermal gold mineralisation.
Rock samples are shipped to SGS Bor, Serbia. Quality control samples, comprising certified reference materials, blanks, and field duplicates, are inserted into each batch of samples and locations for crushed duplicates and pulp replicates are specified. At the SGS Bor laboratory, the submitted rock samples are dried at 105°C for a minimum of 12 hours, and then jaw crushed to about 80% passing 4mm. Sample preparation duplicates are created by riffle splitting crushed samples on a 1 in 20 basis. Larger samples are riffle split prior to pulverizing, whereas smaller samples are pulverized entirely. Pulverizing specifications are 90% passing 75 microns. Gold analyses are done using a conventional 50-gram fire assay and AAS finish.
On August 24, 2023, BULGOLD had approximately $2.5 million in its treasury and BULGOLD’s issued and outstanding shares were 27,597,928 of which approximately 39.54% were held by Founders, Directors and Management. Additional information about the Company is available on BULGOLD’s website (www.BULGOLD.com) and on SEDAR (www.sedar.com).