GRAND JUNCTION, Colo., Feb. 3, 2014 (GLOBE NEWSWIRE) -- Bullfrog Gold Corp (BFGC:OTCQB) ("Bullfrog" or the "Company") is pleased to announce results from its phase 4 drilling program at the Newsboy Gold Project ("Project") located 45 miles NW of Phoenix, Arizona. Sixty-eight holes and 3,364 feet of drilling were completed in the Queen of Sheba exploration target, which is about 2.5 miles NW of the Main Newsboy deposit. Eighteen holes and 864 feet of drilling were completed in the RUS area, which is about 4.5 miles west of the Main deposit. These holes were percussion drilled to an average depth of 49 feet with a small tracked blast hole rig to test shallow mineralization. Drilling started on December 3 and was completed on December 15, 2013.
Queen of Sheba Area
Prior to the phase 4 program, drill data in the Queen of Sheba area consisted of 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 in the Central sub-area. The Company's phase three program included twelve holes drilled in early 2013 using a reverse circulation rig. One of these holes was located 20 feet north of the 1995 core hole and intersected 25 feet of mineralization that averaged 2.8 gold ounces per short ton (opt) starting at the surface. However, a vertical hole drilled about 12 feet NW from this high grade hole contained two 10 foot intercepts that averaged 0.027 gold opt within 30 feet of the surface. Four additional holes within 120 feet of the high grade hole confirmed a 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 450 feet northeast and contained 10 feet of 0.079 gold opt at a depth of 35 feet. The Queen of Sheba area also contains several historic shallow shafts and pits and short adits having unrecorded production of minor tonnages. Phase 3 drilling also intercepted interesting host rocks that contained 10 to 20 feet of mineralization in three holes at depths from 325 to 400 feet deep and grading from 0.019 to 0.072 gold opt, however further study is required to justify additional drilling in this deep zone.
Thirty eight of the 68 holes drilled in the Queen of Sheba area contained mineral intercepts greater than 0.015 gold opt, as summarized below for five sub-areas:
|Sub-Area||Total||Mineral||Mineral Thick/||Gold||Mineral Bottom|
|Ft from Central||Holes||Holes||Hole, Avg Ft.||Avg. Opt||Depth, Avg. Ft.|
|Northeast - 350'||12||2||7.0||0.044||35.0|
|Southwest - 700'||7||4||8.8||0.051||28.0|
|South - 450'||4||0||-||-||-|
|Southeast - 700'||6||0||-||-||-|
Although the shallow Central mineralized zone is open to the NE and SW and had a few high grade assays, this area is small and contains less than 45,000 tons of mineralized rock. The Northeast and Southwest sub-areas currently do not contain any significant tonnages of mineral and the South and Southeast sub-areas contained no mineral above the cutoff grade.
Prior to the phase 4 program, data in the RUS area included assays from trenching and drilling that were completed in 1985 by Labradex Mining Company. Assay results from the 1985 program and the Company's 2013 drilling using a cutoff grade of 0.015 gold opt are summarized below.
|No. Holes/||No. Mineral||Mineral Width/||Gold||Mineral Bottom|
|Year||Trenches||Holes/Trenches||Thick., Avg. Ft.||Avg. Opt||Avg. Ft|
Drilling & Sampling Procedures and Results
All drilling was performed using rotary air blast methods. Drill cuttings were sampled at intervals of 7 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 loaded on trucks operated by Skyline Laboratories, transported to their facility in Tucson, Arizona and initially assayed for gold and subsequently for silver in select higher grade intercepts. 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.
During the first quarter of 2014 the Company plans to reclaim the relatively small areas in the Main, Queen of Sheba and RUS areas and recover cash reclamation bonds posted with the US Bureau of Land Management for drill phases 3 and 4. However such activities in the RUS area will include minor excavation and concurrent reclamation of new trenches to further assess the potential in this area. Reclamation has been completed and cash bonds have been returned for the Company's drill phases 1 and 2. The Company also expects to complete by mid-February 2014 its analyses of a Technical Report on the Newsboy Project recently prepared by SRK Consulting of Denver, Colorado.
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. 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
Source:Bullfrog Gold Corp.