BFGC news November 12, 2013
Newsboy Project Resources to be Estimated for Bullfrog Gold
Bullfrog Gold Corp. (OTCBB:BFGC) ("Bullfrog" or the "Company") is pleased to announce that it has engaged SRK Consulting ("SRK") of Denver, Colorado to estimate resources on the Newsboy Gold Project ("Project" or "Newsboy") and prepare a technical report using Canadian National Instrument 43-101 standards and procedures. SRK Consulting is an independent, international consulting practice that offers services from exploration through feasibility, mine planning, and production to mine closure. Formed in 1974, SRK now employs more than 1,600 professionals internationally in over 50 offices on 6 continents.
GeoMax of Denver, Colorado recently converted the historic drill data base from paper into electronic format and vetted all information with respect to QA/QC protocols. SRK now has the electronic data package and recently completed its visit to the Newsboy site. The Company anticipates that SRK will complete its report by early 2014.
About the Newsboy Project
The Project comprises 7,160 acres of state, federal and private lands located 45 miles northwest of Phoenix, Arizona. Wickenburg and Morristown are located 10 miles and 3 miles respectively from the site. Approximately 1.2 million ounces of gold and 1 million ounces of silver have been produced within 25 miles of the Project from several historic mines, including the Vulture, Congress, Octave and Yarnell.
Newsboy area mine workings dating from 1915 include several short adits, trenches and shallow mine shafts. From 1940 to 1941 approximately 11,000 tons of ore averaging 0.07 ounces of gold and 8.1 ounces of silver per were surface mined from the main Newsboy deposit and shipped as flux to smelters in Arizona. Other production from the general area was not recorded but was minor. Below is a summary of all drilling on Project lands:
Newsboy Drilling Summary
Principally in Main Deposit Area
Year Owner/Operator Drill Method (1) Holes Footage
1985 Labradex Mining Co. (2) RC 11 2,435
1985 Checkmate Resources Ltd. RAB 22 4170
1987 Westmont Mining Co. RC 29 5,910
1988 Westmont Mining Co. RC 54 13,170
1989 Lupine Minerals - Westmont JV RC 19 4,530
1990 Newsboy Gold Mining Corp. DC 12 1,681
1992 Newsboy Gold Mining Corp. RC 39 6,560
1995 Moneta Porcupine Mines DC 8 3,363
Sub-total 194 41,819
2011-12 Bullfrog Gold Corp. Phase 1 RC 24 6,750
2012 Bullfrog Gold Corp. Phase 2 RC 24 7,793
2013 Bullfrog Gold Corp. Phase 3 (3) RC 26 8,430
Sub-total 74 22,973
Total 268 64,792
(1) RC: Reverse Circulation RAB: Rotary Air Blast DC: Diamond Core
(2) Drilling only on RUS claims
(3) Drilling in Queen of Sheba and Main deposit areas
During 1990 and 1992, Newsboy Gold Mining Company ("NGMC") also conducted metallurgical test work, estimated resources and reserves, completed a feasibility study and submitted environmental permit applications to the State and the US Bureau of Land Management. The feasibility study concluded that ore could be economically processed at a rate of 600,000 ton per annum at a mineable grade of 0.05 ounces of gold and 1.4 ounces of silver per ton at an average strip ratio of 3.6:1. Metallurgical tests projected recoveries of at 90% for gold and 20% for silver for a proposed production rate of 27,000 ounces of gold and 168,000 ounces of silver per year. Historic resources estimated by NGMC in 1991 using data from 125 holes were 5.8 million tons averaging 0.04 ounces of gold and 0.7 ounces of silver per ton.
In 1993 NGMC was sold to Moneta Porcupine Mines of Canada, who conducted geophysical and surface sampling programs and cored eight holes. The property was re-acquired by Southwest Exploration Inc. in 2008 and optioned to the Company in September 2011. More than 41,800 feet of drilling has been completed on the Project from 1985 through 1995 at an expenditure of more than $6 million. During the past two years the Company's drilling and direct Project expenditures were $1.7 million. As a result, more than $12 million has been spent on the exploration and development of the Project, based on the current 2013 dollar value.
The Newsboy Project has eight relatively shallow priority drill targets, of which only the RUS and Queen of Sheba areas have had limited drilling to date. Other secondary targets have also been identified below existing drill depths, particularly in the SE area of the main deposit. The Company intends to continue drilling and metallurgical testing while advancing engineering and environmental programs and studies.
More information on the Company and its projects may be obtained from www.BullfrogGold.com, emailing info@BullfrogGold.com or calling (970) 628 - 1670.
David Beling, President, CEO & Director
