GRAND JUNCTION, CO--(Marketwire - August 28, 2012) - Bullfrog Gold Corp. (OTCBB: BFGC) ("Bullfrog" or the "Company") is pleased to announce phase 2 drill results at its Newsboy Project located 45 miles NW of Phoenix, Arizona. The Company is encouraged with three new holes that extended the thick, high grade mineralization discovered earlier in 2012 and optimistic about the potential for further expansion in this area.
|Drill||Hole||Loc. From||Depth, Feet||Intercepts|
|Hole #||Inclination||DH 12-11||From||To||Feet||Gold opt*||Silver opt*|
|42||- 75°||100' east||365||375||10||0.016||0.10|
|Average: 4 Holes||50||0.053||0.17|
|* Ounces per short ton|
Since holes 37 and 42 show this new mineralization to be tabular with an apparent dip of 15°, the thickness and tonnage in this area may be an order of magnitude greater than that of a narrow, near vertical vein as initially thought when hole 11 was drilled. Given that holes 11, 37 and 42 are located outside the open pit proposed in 1992, the pit limit will be expanded accordingly with 20% higher grade gold than the 0.044 gold opt estimated in the 1992 pit. Furthermore, the open area immediately east of these three holes is approximately 800 feet by 1,200 feet and will be drilled to expand this new mineralization and establish its true thickness. The remaining 21 holes in phase 2 were drilled to better define pit limits, infill select areas within the pit and test other potential areas around the main deposit.
Notwithstanding the tabular occurrence of the thick, high grade mineralization described above, the project still has the potential for discovering deeper, narrow high grade feeder veins that were the conduits for mineralizing the shallow rhyolite host zones and favorable upper portions of the pre-Cambrian basement schist rocks.
The table below shows results from the 24-hole program that was completed by the end of June 2012.
|Newsboy Phase 2 Drill Program|
|Interval Cutoff: 0.015 gold oz/ton and G x T product of 0.15 gold opt-feet|
|BFGC Hole||Mineral Intervals, Feet||Gold||Silver||Depth||Relation|
|Year - No.||From||- To||Thickness||opt||opt||Feet||To P.O.P *|
|12 - 25||290||305||15||0.022||0.30||360||1,100 ft ENE|
|12 - 26||215||225||10||0.064||0.06||310||2,500 ft N|
|12 - 27||Below Cutoff||-||-||-||358||500 ft NE|
|12 - 28||Below Cutoff||-||-||-||475||600 ft E|
|** 12 - 29||230||255||25||0.022||1.47||355||In pit - NE Edge|
|** 12 - 30||Below Cutoff||-||-||-||185||In pit - Center|
|** 12 - 30 A||Below Cutoff||-||-||-||125||In pit - Center|
|** 12 - 31||Below Cutoff||-||-||-||325||In pit - Center|
|** 12 - 32||95||135||40||0.047||0.14||305||In pit - N/Center|
|12 - 33||130||135||5||0.052||0.07||180||600 ft NW|
|12 - 34||50||80||30||0.015||0.08||165||400 ft NW|
|12 - 35||Below Cutoff||-||-||-||270||400 ft E|
|** 12 - 36||295||315||20||0.030||0.20||445||SE Pit Edge|
|12 - 37||380||425||45||0.066||0.27||445||100 ft E|
|12 - 38||Below Cutoff||-||-||-||355||1,300 ft ENE|
|12 - 39||Below Cutoff||-||-||-||225||1,500 ft ENE|
|12 - 40||Below Cutoff||-||-||-||385||2,500 ft S|
|12 - 41||Below Cutoff||-||-||-||200||550 ft SE|
|12 - 42||365||375||10||0.016||0.10||525||100 ft E|
|12 - 43||100||105||5||0.066||0.06||200||1,600 ft W|
|12 - 44||Below Cutoff||-||-||-||100||1,600 ft W|
|12 - 45||Below Cutoff||-||-||-||500||550 ft ESE|
|12 - 46||Below Cutoff||-||-||-||500||600 ft ESE|
|12 - 47||Below Cutoff||-||-||-||500||300 ft E|
|Totals: 24 Holes||330||7,793|
|Weighted average - all mineral intercepts||24||0.037||0.31|
|* P.O.P = Proposed open pit in 1992 feasibility|
|** Wtd. avg. intercept in P.O.P. (4 intercepts)||26||0.034||0.62|
|** Wtd. avg. mineral/hole in P.O.P. (3 holes)||35||0.034||0.62|
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 were transported to Skyline Laboratories 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.
Proposed Programs The Company plans to drill an additional 8,000 feet in 24 holes during the fall of 2012 and subsequently contract the preparation of resource estimates and preliminary mine plans. The development portion of this drilling will further test the lateral and vertical extents of the main deposit, particularly in the new mineralized area. The exploration portion of this drilling will test a highly-prospective target located 3 miles from the main deposit.
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 completed a feasibility study and submitted environmental permit applications to the State and the US Bureau of Land Management. 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. More information on the Company and its projects may be obtained from www.BullfrogGold.com, or by emailing info@BullfrogGold.com.
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 Information David Beling, PE President, CEO & Director 970-628-1670