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  • Bullfrog Gold Corp. (BFGC) Kicks Off Third Round Of Drilling At Newsboy Gold And Silver Project In Arizona 4 comments
    Jan 16, 2013 5:19 PM | about stocks: BFGC

    Bullfrog Gold, the domestic precious minerals developer currently focused on holdings in Nevada (1.65k acres and two patents adjacent to Barrick Gold's Montgomery-Shoshone mine) and Arizona, is reporting a recommencement of drilling activities today on their Newsboy Gold Project as a third round of drilling is slated to commence.

    The 30-hole program, slated for completion by early this April, will be targeting the area of the main deposit, in addition to the new Queen of Sheba area, with a potential fourth program sometime before the middle of June also proposed to explore some of the other highly prospective targets (eight in total, with a total current potential mineral site inventory of roughly 838k oz Au and 15.3M oz Ag). Newsboy is a great little 4.9k-acre project and sits just 45 miles outside of Phoenix to the northwest, affording excellent logistical support for all activities.

    Noted local construction, drilling, and water management firm, Layne Christensen, who handled the first two drilling programs completed last year, has been pegged for this latest round and analytics will once again be performed by Skyline Labs out of Tucson. Bullfrog will be looking to sandwich in an independent mineral resource estimate update on the entire project as well after this third round of drilling, and markets will be eager to get a look at the new data sometime around April.

    The first batch of 12 holes should start going in before the end of this month on the two leased patents detailed in the Dec 17 news release, as well as a State of Arizona Exploration Permit, with the remaining 18 holes on Federal lands merely awaiting customary approval by the Arizona Department of Water Resources and BLM. All lights look green thus far and the company has also landed the necessary Authority to Operate for round three of drilling as per the Maricopa County Air Quality Department requirements (via an updated General Permit granted Jan 11).

    Bullfrog is go to explore the higher grade intercepts from the main deposit area that were kicked up during the previous two programs, and the tantalizing potential in the Queen of Sheba exploration area, where mineralization levels appear even higher than in the main deposit area, should no doubt spur the work on heartily.

    Bundesbank (Central Bank of the Federal Republic of Germany) just officially moved to repatriate gold from New York and Paris amid protracted fundamental problems in the EU (basically looking to shore up domestic confidence and facilitate gold/foreign currency exchanges) and the PBOC (The People's Bank of China) is hoarding gold like gangbusters with Shanghai even moving towards a broadened OTC gold trading space with strong ETF support. The macro signals here are unmistakable and domestic juniors like BFGC that have metal in the ground are looking like better and better stewards for precious investment capital as things start to really heat up.

    For more information on Bullfrog Gold, visit BullFrogGoldCorp.com

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net

    Stocks: BFGC
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  • Peter Epstein
    , contributor
    Comments (1755) | Send Message
     
    I'm spending all day Thursday with David Beling, CEO of Bullfrog. I'm going on a site tour at the Newsboy project near Phoenix....
    17 Jan 2013, 12:26 AM Reply Like
  • QualityStocks
    , contributor
    Comments (9) | Send Message
     
    Author’s reply » Please let us know the results of your visit. Thanks!
    17 Jan 2013, 11:47 AM Reply Like
  • Peter Epstein
    , contributor
    Comments (1755) | Send Message
     
    On Thursday, Jan 17th, I spent the entire day with CEO David Beling of Bullfrog and Chief Senior Consulting Geologist, Clive R.G. Bailey on a site tour of Bullfrog's Newsboy project and subsequent dinner presentation to the Phoenix Society of Mining Engineers, I found the site visit both fascinating and informative. I'm no geologist, but there is very clear evidence of significant mineralizations, (several minerals) at surface. In fact, the company has done, "chip-rock" sampling of the Newsboy property and the results were promising....

     

    Access to the site is excellent, a regular paved highway, then hard compacted, county-maintained road for just a few more miles. A huge power line runs within 3 miles of site. The historic towns of Wickenberg and Morristown are both within 10 miles. Both are very supportive of the Newsboy project as the unemployment rate is elevated and Newsboy would employ up to 100 people. The combined population of the two towns is only about 8,000-9,000. One hundred high paying direct jobs, + perhaps a hundred or more ancillary jobs would be a big deal in the region.

     

    Newsboy has an historic resource of 235k ounces of gold. This figure is only for a proposed pit that a prior owner planned on developing in the early 1990's. Since the early 1990's, more than $10 million (in today's dollars) has been spent. It's difficult to over-estimate the importance of the historical data that Bullfrog has obtained on Newsboy including 800 lbs of recently acquired maps, reports, data logs, etc from the previous owner. The data is in very good condition,

     

    I saw all of this data and more at the company's field office. The extent and detail of the data is impressive, lots of environmental, archaeological, water studies, mining plans, mill plant, flow charts, surveys, detailed maps, drill logs, waste dump designs, lists of equipment needed, estimates of labor requirements, etc. The key takeaway is that a lot of actual permits and approvals were obtained 20 years ago. Obviously, these permits and approvals would need to be updated, but historical precedent is very important in the mining industry.

     

    Speaking further to the Newsboy site, I was surprised to see a number of mining shafts and cement workings dating back as far as 100 years. Prior mining clearly took place. Importantly, any mining done 100 years ago would have been on high grade (by today's standards) deposits. Think about that for a moment.

     

    The old-timers found enough gold (and possibly some silver, copper and lead) to warrant digging shafts as much as several hundred feet deep. Obviously, the technology back then would not have been able to find lean mineralization zones. Nor would miners have had to go after lean zones anyway because plenty of higher grade gold and silver was still (relatively) easy to find all over the west.

     

    At dinner on Thursday, over 50 people, including a handful of investors like me, attended a full hour long presentation of the Bullfrog Gold story. Beling did an excellent job of clearly describing the company. To be clear, given the audience, he did not actually, "pitch" his company as an attractive investment opportunity. Making strong investment presentations is a skill that MANY mining company executives lack. Beling mixed humor, high level detail, candor, historical context and compelling information in an entertaining and much enjoyed speech.

     

    I will go into greater detail about the compelling risk/reward of Bullfrog stock in coming days, but I wanted to say at least something about my site visit. Keep an eye out for my comments on Seekingalpha going forward. Thank you.
    19 Jan 2013, 01:54 PM Reply Like
  • LisaE
    , contributor
    Comments (248) | Send Message
     
    good article on Bullfrog Gold

     

    http://seekingalpha.co...
    10 Feb 2013, 04:36 PM Reply Like
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