GRAND JUNCTION, Colo., Feb. 25, 2013 (GLOBE NEWSWIRE) -- Bullfrog Gold Corp (OTCBB:BFGC) ("Bullfrog" or the "Company") is pleased to announce results from the first five holes of Bullfrog's Phase 3 drill program at the Newsboy Gold Project ("Newsboy") located 45 miles NW of Phoenix, Arizona. The Company is particularly excited about a shallow 5-foot intercept that averaged 13.9 ounces gold per short ton (opt). These holes were drilled in the Queen of Sheba area located 2.5 miles west of the main Newsboy deposit, see table below:
|BQ Hole||Mineral Intervals, Feet||Gold||Silver||Hole|
|Year – No.||From||To||Thickness||Opt||Opt||Depth, Ft.|
|13 – 48||0||25||25||2.801||0.17||400|
|13 - 49||10||25||15||0.029||0.18||320|
|13 – 50||40||45||5||0.017||0.140||400|
|13 – 51||60||65||5||0.016||0.080||250|
|13 – 52||Below Cutoff||--||--||--||420|
|Based on a 5-foot mineral interval cutoff of 0.015 gold opt|
Hole BQ 13-48 was drilled at a minus 67˚ angle toward the north and is located 15 feet from an old shallow shaft and 19 feet from an easterly angled-hole cored in 1995 that contained 16 feet of 0.024 gold opt, 6 feet of 0.038 gold and 2 feet of 0.12 gold opt, all within 37 feet from the surface. Hole number 48 also intersected a very interesting 10 feet of 0.038 gold opt in pre-Cambrian meta-sediments in the last 10 feet of this 400-foot hole.
Hole 49 was angle-drilled toward the north at -65˚ and intersected 15 feet of 0.029 gold opt in the same zone intercepted in hole 48. Hole 49 is 110 feet south from hole 48 and 95 feet south of the old core hole. Holes 50 through 52 were drilled in the general area, but only intersected minor mineralization.
In mid-February 2013 drilling operations returned to the main Newsboy deposit to further test thick, higher grades discovered during Phases 1 and 2 completed in 2012. Thereafter, the drill rig will return to the Queen of Sheba area and test extensions of this shallow high grade zone, which is located on patented property and does not require approvals for additional drilling from the US Bureau of Land Management. In summary, much additional drilling is required and justified to determine the quantity and quality of shallow and deeper mineralization in the Queen of Sheba and main deposit, the latter of which has now been defined by more than 200 holes.
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.
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 adjacent to Barrick Gold's Bullfrog Mine 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.
David Beling, PE, President, CEO & Director (970) 628-1670
Bullfrog Gold Corp.
Grand Junction, Colorado, UNITED STATES
David Beling, PE, President, CEO & Director (970) 628-1670
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