This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Newsboy Project Resources To Be Estimated For Bullfrog Gold

Stocks in this article: BFGC

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:

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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs