GRAND JUNCTION, Colo., Nov. 18, 2013 (GLOBE NEWSWIRE) -- Bullfrog Gold Corp (OTCBB:BFGC) ("Bullfrog" or the "Company") is pleased to announce a phase 4 drill program at its Newsboy Gold Project ("Project") located 45 miles NW of Phoenix, Arizona. Drilling is scheduled to start in early December 2013 and finish before year end.
At least 62 vertical and angled holes will be percussion drilled to depths up to 60 feet. The program is specifically designed to explore shallow mineralization that has been identified from surface sampling and reconnaissance programs, trenches and upper mineral intervals in existing holes. Below is a summary of holes proposed in three specific exploration target areas.
|Proposed Phase 4 Drill Program|
|Exploration Area||No. of Holes||Land Status|
|Queen of Sheba||20||Mining Claims|
|" " "||20||Adjacent Lease on Patents|
A map of the Newsboy main deposit and eight exploration areas may be viewed on the Company's website (see November 5, 2013 press release or latest power point presentation) or at the link http://media.globenewswire.com/cache/23930/file/23048.pdf.
In 1985 Labradex Mining Company explored the RUS area by drilling 2,435 feet in 11 holes and sampling 14 trenches and several historic prospect pits. Labradex discovered a near surface gold-bearing vein system having a strike length of more than 2,600 feet and a typical dip of 45 degrees. The Company plans to drill 15 holes in the areas deemed most favorable and for possible strike extensions. Significant sample lengths and gold grades obtained in a Labradex report are shown in Table 2.
|RUS Area Surface Sampling Results|
|Sample Location||Intercept, ft.||Gold opt|
|Nearby old pit||4||0.120|
|" " "||2||0.120|
|" " "||5||0.076|
|Nearby old pit||4||0.290|
|" " "||3||0.088|
|" " "||5||0.100|
High grade, shallow gold was intersected in one drill hole and surface samples of outcrops and prospect pits in the Queen of Sheba exploration area (see press release of February 25, 2013), but holes spaced 50 feet from this high grade showed continuity of mineralization but not of high grade. Twenty close-spaced holes will be drilled on the 38 acres of patented land and twenty holes on adjacent mining claims in the Queen of Sheba area. Table 3 shows all the shallow intercepts drilled in early 2013.
|Shallow Mineralization in Queen of Sheba Area|
|Drilled in Phase 3 Program on Leased Patents|
|Hole ID||Mineral Intervals, Feet||Gold||Silver|
|Year -- No.||From||--||To||Thickness||opt||opt|
|13 -- 48||0||25||25||2.801||0.17|
|13 -- 49||10||25||15||0.029||0.18|
|13 -- 50||40||45||5||0.017||0.14|
|13 -- 51||60||65||5||0.016||0.08|
|13 - 68||0||5||5||0.028||0.24|
|13 -- 69||0||10||10||0.029||0.16|
|13 -- 70||0||5||5||0.021||0.11|
|13 -- 72||35||45||10||0.079||0.13|
|Additional mineral intervals below 70 feet are not shown|
As the S-6 exploration area has several old mine shafts, prospect pits and mineralized outcrops but no records or evidence of drilling, seven shallow holes are proposed as an initial test of this exploration target.
In early 2014 the Company plans to analyze all drill hole data on the Project along with results from SRK Consulting's upcoming technical report to plan a subsequent exploration and development drill programs.
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. By 1992, predecessor owners of the Newsboy Project drilled 154 holes, estimated resources in the main deposit area at 5.3 million tons averaging 0.044 gold opt and 0.64 silver opt, completed a feasibility study and submitted environmental permit applications. During the past two years the Company completed 74 holes in three phases of drilling on the Project and acquired additional adjacent lands having exploration potential. The Company also has two prospective properties in Nevada, one of which is in the Bullfrog Mining District that produced approximately 2.3 million ounces of gold between 1988 and 1998. The Company's Klondike Project in Nevada has shallow occurrences of silver mineralization 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.
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. Further the price of minerals and resources is highly volatile. The Company currently has no reserves on any of its properties. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its business and properties contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The Companies filings are available at www.sec.gov.
CONTACT: David Beling President and CEO (970) 628-1670
Source:Bullfrog Gold Corp.