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GRAND JUNCTION, Colo., Nov. 12, 2013 (GLOBE NEWSWIRE) -- 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:
(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.