Bullfrog Gold has declared new drill results from its Newsboy Project, which is situated 45 mi northwest of Phoenix in Arizona. A vein comprising 50 ft of 0.084 gold opt and 0.18 silver opt, including 5 ft of 0.39 gold opt and 0.39 silver opt, was discovered through a vertical hole drilled beneath the schist rocks.
Five holes were drilled inside an open pit mine region that averaged 0.048 gold opt, 1.2 silver opt and 64 ft in width. These results are similar and confirm historic drill data. In the region enclosing the open pit limits, 16 additional holes were drilled and 9 of these holes included mineralization over the 0.015 gold opt cutoff grade.
The underlying pre-Cambrian schist hosted about 20% of the historic resources, calculated in the 1992 open pit mine plan, while the shallow rhyolite rocks hosted 80% of the resources. Earlier, the mineralized sections of these rocks were broken and brecciated because of detachment faulting. These mineralized zones are up to 100 ft thick in the rhyolite rocks and less than 10 ft thick in the schist rocks.
The discovery of high grade gold in a mineralized fault zone beneath the schist-rhyolite contact and 550 ft south of the open pit mine plan looks promising. This latest discovery and the occurrence of several other fault zones across the property generates a number of additional targets that warrant further drilling to find out the actual widths of these veins.
During the remaining period of 2012, Bullfrog Gold intends to drill an additional 20,000 ft in 58 holes and will subsequently contract the initial mine plans and the preparation of resource estimates.