Bullfrog Gold Completes Phase 3 Drilling at Newsboy Project
April 02 2013 - 7:00AM
Bullfrog Gold Corp (OTCBB:BFGC) ("Bullfrog" or the "Company") is
pleased to announce results from its Phase 3 drill program at the
Newsboy Gold Project located 45 miles NW of Phoenix, Arizona.
Prior to the Phase 3 program, data on the Queen of Sheba area
consisted of helpful but limited assays of outcrops and one hole
cored in 1995 that intersected 16 feet of 0.024 gold opt, 6 feet of
0.038 gold opt and 2 feet of 0.124 gold opt, all within 37 feet of
the surface. The area also contained five shallow old shafts and
two short adits that indicated mineralization of great interest. A
new angled hole was located 20 feet north of the 1995 core hole and
intersected 25 feet of 2.8 gold ounces per short ton (opt) starting
at the surface. Drill cuttings from this high grade have been
examined and found to contain free gold in granular and wire forms
about 40 mesh in size and within a matrix of quartz and specular
hematite.
A subsequent vertical hole was drilled about 12 feet NW from
this high grade hole, but had two 10 foot intercepts that only
averaged 0.027 gold opt within 30 feet of the surface. Four
additional holes within 120 feet of the high grade hole confirmed a
continuous mineralized zone that averaged 18 feet in thickness and
a grade of 0.028 gold opt within 26 feet of the surface. Another
hole was located about 540 feet northeast and contained 10 feet of
0.079 gold opt at a depth of 35 feet. As a result, much additional
shallow angle and vertical drilling will be required to fully
explore this narrow high grade structure and better define the
limits of the lower grade but important continuous
mineralization.
Twelve holes in the Main deposit area were drilled to expand
mineralization in the eastern, higher grade zone discovered in 2012
and to further define the northeastern perimeter of the open pit
proposed in 1992. The eight holes drilled in this eastern zone
during Phases 1 - 3 are summarized in Table I and have now
established continuous mineralization which still remains open to
the north and east.
Table I |
Hole ID |
Program |
Mineral
Intervals |
Thickness |
Gold |
Silver |
Year - No. |
Phase |
From |
To |
Feet |
Oz/Ton |
Oz/Ton |
|
|
|
|
|
|
|
12 - 11 |
1 |
375 |
425 |
50 |
0.084 |
0.176 |
|
|
|
|
|
|
|
12 - 37 |
2 |
380 |
425 |
45 |
0.066 |
0.27 |
|
|
|
|
|
|
|
12 - 42 |
2 |
385 |
420 |
35 |
0.027 |
0.12 |
|
|
455 |
495 |
40 |
0.042 |
0.08 |
|
|
|
|
|
|
|
13 - 57 |
3 |
295 |
305 |
10 |
0.028 |
0.05 |
|
|
335 |
340 |
5 |
0.077 |
0.02 |
|
|
|
|
|
|
|
13 - 58 |
3 |
385 |
415 |
30 |
0.064 |
0.49 |
|
|
|
|
|
|
|
13 - 62 |
3 |
290 |
340 |
50 |
0.044 |
1.28 |
|
|
360 |
365 |
5 |
0.129 |
0.34 |
|
|
|
|
|
|
|
13 - 63 |
3 |
330 |
355 |
25 |
0.034 |
2.14 |
|
|
|
|
|
|
|
13 - 65 |
3 |
210 |
230 |
20 |
0.054 |
0.56 |
Average per Hole |
|
|
381 |
39 |
0.054 |
0.55 |
Interval Cut-off
Criteria: 0.015 gold opt and a Grade x Thickness product of
0.25 feet x opt |
Table II summarizes results from all 26 holes drilled during
Phase 3 using a 0.015 gold opt cutoff.
Table II |
Hole ID |
Area |
Mineral
Intervals, Feet |
Gold |
Silver |
Depth |
Feet From |
Year - No. |
|
From |
To |
Thickness |
opt |
opt |
Feet |
Hole # 48 |
|
|
|
|
|
|
|
|
|
13 - 48 |
Queen Sheba (1) |
0 |
25 |
25 |
2.801 |
0.17 |
400 |
0' |
|
Includes |
10 |
15 |
5 |
13.856 |
0.48 |
|
|
|
|
390 |
400 |
10 |
0.042 |
0.050 |
|
|
|
|
|
|
|
|
|
|
|
13 - 49 |
Queen Sheba (1) |
10 |
25 |
15 |
0.029 |
0.18 |
320 |
110' SSE |
|
|
|
|
|
|
|
|
|
13 - 50 |
Queen Sheba |
40 |
45 |
5 |
0.017 |
0.14 |
400 |
220' ENE |
|
|
65 |
70 |
5 |
0.016 |
0.02 |
|
|
|
|
|
|
|
|
|
|
|
13 - 51 |
Queen Sheba |
60 |
65 |
5 |
0.016 |
0.08 |
250 |
560' ENE |
|
|
|
|
|
|
|
|
|
13 - 52 |
Queen Sheba |
Below Cutoff |
|
-- |
-- |
-- |
420 |
220' N |
|
|
|
|
|
|
|
|
|
13 - 53 |
Queen Sheba |
Below Cutoff |
|
-- |
-- |
-- |
320 |
340' ENE |
|
|
|
|
|
|
|
|
|
13 - 54 |
Main Deposit |
235 |
245 |
10 |
0.017 |
0.15 |
330 |
|
|
|
275 |
280 |
5 |
0.021 |
0.65 |
|
|
|
|
295 |
300 |
5 |
0.028 |
1.37 |
|
|
|
|
|
|
|
|
|
|
|
13 - 55 |
Main Deposit |
410 |
415 |
5 |
0.018 |
0.06 |
515 |
|
|
|
445 |
455 |
10 |
0.022 |
0.05 |
|
|
|
|
485 |
500 |
15 |
0.021 |
0.07 |
|
|
|
|
|
|
|
|
|
|
|
13 - 56 |
Main Deposit |
Below Cutoff |
|
-- |
-- |
-- |
250 |
|
|
|
|
|
|
|
|
|
|
13 - 57 |
Main Deposit |
295 |
305 |
10 |
0.028 |
0.05 |
435 |
|
|
|
335 |
340 |
5 |
0.077 |
0.02 |
|
|
|
|
410 |
415 |
5 |
0.015 |
0.01 |
|
|
|
|
|
|
|
|
|
|
|
13 - 58 |
Main Deposit |
350 |
355 |
5 |
0.018 |
0.03 |
440 |
|
|
|
375 |
380 |
5 |
0.029 |
0.21 |
|
|
|
|
385 |
415 |
30 |
0.064 |
0.49 |
|
|
|
|
|
|
|
|
|
|
|
13 - 59 |
State Land |
Below Cutoff |
|
-- |
-- |
-- |
100 |
|
|
|
|
|
|
|
|
|
|
13 - 60 |
Main Deposit |
25 |
50 |
25 |
0.025 |
0.36 |
350 |
|
|
|
235 |
255 |
20 |
0.045 |
0.15 |
|
|
|
|
265 |
270 |
5 |
0.018 |
0.11 |
|
|
|
|
280 |
290 |
10 |
0.020 |
0.31 |
|
|
|
|
320 |
325 |
5 |
0.016 |
0.30 |
|
|
|
|
335 |
340 |
5 |
0.020 |
0.67 |
|
|
|
|
|
|
|
|
|
|
|
13 - 61 |
Main Deposit |
325 |
330 |
5 |
0.026 |
0.12 |
420 |
|
|
|
|
|
|
|
|
|
|
13 - 62 |
Main Deposit |
280 |
285 |
5 |
0.032 |
0.30 |
440 |
|
|
|
290 |
340 |
50 |
0.044 |
1.28 |
|
|
|
|
360 |
365 |
5 |
0.129 |
0.34 |
|
|
|
|
|
|
|
|
|
|
|
13 - 63 |
Main Deposit |
315 |
320 |
5 |
0.016 |
0.06 |
400 |
|
|
|
330 |
355 |
25 |
0.034 |
2.14 |
|
|
|
|
|
|
|
|
|
|
|
13 - 64 |
Main Deposit |
Below Cutoff |
|
-- |
-- |
-- |
320 |
|
|
|
|
|
|
|
|
|
|
13 - 65 |
Main Deposit |
210 |
230 |
20 |
0.054 |
0.56 |
290 |
|
|
|
|
|
|
|
|
|
|
13 - 66 |
Main Deposit |
30 |
35 |
5 |
0.023 |
0.13 |
120 |
|
|
|
|
|
|
|
|
|
|
13 - 67 |
Queen Sheba |
Below Cutoff |
|
-- |
-- |
-- |
215 |
380' SSE |
|
|
|
|
|
|
|
|
|
13 - 68 |
Queen Sheba (1) |
0 |
5 |
5 |
0.028 |
0.24 |
500 |
90' SSW |
|
|
10 |
15 |
5 |
0.015 |
0.29 |
|
|
|
|
325 |
335 |
10 |
0.019 |
0.01 |
|
|
|
|
375 |
385 |
10 |
0.035 |
0.23 |
|
|
|
|
|
|
|
|
|
|
|
13 - 69 |
Queen Sheba (1) |
0 |
10 |
10 |
0.029 |
0.16 |
140 |
12' NNW |
|
|
20 |
30 |
10 |
0.026 |
0.12 |
|
|
|
|
|
|
|
|
|
|
|
13 - 70 |
Queen Sheba (1) |
0 |
5 |
5 |
0.021 |
0.11 |
140 |
50' E |
|
|
10 |
20 |
10 |
0.020 |
0.14 |
|
|
|
|
25 |
35 |
10 |
0.044 |
0.17 |
|
|
|
|
|
|
|
|
|
|
|
13 - 71 |
Queen Sheba |
130 |
135 |
5 |
0.015 |
0.01 |
400 |
540' NNE |
|
|
380 |
390 |
10 |
0.072 |
0.24 |
|
|
|
|
|
|
|
|
|
|
|
13 - 72 |
Queen Sheba |
35 |
45 |
10 |
0.079 |
0.13 |
200 |
540' NE |
|
|
|
|
|
|
|
|
|
13 - 73 |
Mammoth Spar |
Below Cutoff |
|
-- |
-- |
-- |
315 |
3,800' NW |
Totals: |
26 Holes |
|
|
|
|
|
8,430 |
|
(1) These five holes are within
120 feet of each other and show strong continuity of the shallow
mineral zone. |
The exploratory hole drilled in the Mammoth Spar area and
another on Arizona State land about ¾ mile north of the Main
deposit did not intercept mineralization above a cutoff of 0.015
gold opt.
Drilling & Sampling Procedures and
Results
All drilling was performed using reverse circulation methods.
Drill cuttings were sampled at intervals of 5 feet and split to
typically produce 15-pound representative samples for further
preparation and assaying. All field sample splits were collected,
bagged and tagged under the direct supervision and custody of Clive
Bailey, CPG, Qualified Person and Lead Project Consultant. Sample
splits are loaded on trucks operated by Skyline Laboratories,
transported to their facility in Tucson, Arizona and assayed for
gold, silver and other relevant elements. In compliance with US and
other international QA/QC procedures, separate blank, duplicate and
standard samples were randomly submitted and assayed with the drill
sample splits.
Plans for Remainder of 2013
Upon compilation of all historic and recent data in electronic
format, the Company plans to engage an independent mine engineering
firm to develop a computerized block model and estimate resources
in the Main deposit and the Queen of Sheba areas. The Company also
plans to evaluate the total drill data base and develop and
complete a Phase 4 drill program, mainly to further test the
shallow Queen of Sheba mineralization on the patented mining
claims, including the high grade within this zone. The Company also
intends to drill several high priority targets during Phase which
are also near historic shallow shafts on new claims acquired and
discussed in its March 19, 2013 press release. Phase 4 is scheduled
to start in October and be completed before the end of
2013. All plans at Newsboy are fully-funded through mid-2014
per the debt facility announced on December 11, 2012.
About Bullfrog Gold Corp.
Bullfrog Gold Corp. is a Delaware corporation that started
trading on the over-the-counter bulletin board market on October
17, 2011 under the symbol BFGC. During 1992, predecessor owners of
the Newsboy Project drilled 154 holes and completed a feasibility
study. Historic resources in the main deposit area were estimated
in 1992 at 5.3 million tons averaging 0.044 gold opt and 0.64
silver opt. The Company also has two highly-prospective
properties in Nevada, one of which is in the Bullfrog Mining
District that produced 2.3 million ounces of gold between 1988 and
1998. The Company's Klondike Project in Nevada has shallow
occurrences of silver with potential base metal and barite
byproduct credits. More information on the Company and its projects
may be obtained from www.BullfrogGold.com, or by emailing
info@BullfrogGold.com.
The Bullfrog Gold Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=16223
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. 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 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: David Beling, PE, President, CEO & Director, (970) 628-1670