Bullfrog Gold, the precious minerals developer currently focused on their Bullfrog Gold Project in Nevada (adjacent to Barrick Gold's 220k oz plus open pit Montgomery-Shoshone producer) and Newsboy Gold Project in Arizona, announced today that the company has added mightily to their Newsboy position via the staking of another 160 lode mining claims, bringing the total up to 250 (as well as 12 placer claims, 3 state exploration permits, and 2 patent claims) in some 7.4k acres.
The Newsboy project is in prime AZ territory, some 45 miles northwest of Phoenix, within 10 miles of the massive, high-grade Vulture Mine and there has been over 1.2M oz Au (with another 1M oz Ag) historically produced within a 25 mile distance of the project. These new claims were officially recorded Friday, the 15th of March, with the BLM and local Maricopa County.
This news comes fast on the heels of the Feb 25 report of having intercepted bonanza-grade gold at Newsboy in the first five holes of the company's Phase III drilling program, including a shallow 5-foot intercept averaging 13.9 opt Au in the exciting Queen of Sheba area just over 2 miles from the main deposit. Drilling consisted of over 8.34k feet in 26 holes during this latest phase of drilling and due to the presence of significantly-mineralized outcrops, in conjunction with a lack of any record of historic production on-site, BFGC's move to almost double their claim position makes perfect sense.
The company is still processing the totality of data from the latest phase of drilling but once assays are looked at, the drill data is gone through with a fine-toothed comb and overhauling of the extant, relevant historic data has been completed (getting it into an easy to use digital format), BFGC will report and later look to engage an independent group for an updated resource estimate before the close of this year. Should be an interesting read once all the latest data has coalesced, and investors will likely hear from BFGC on the full Phase III drilling program results as soon as the company gets receipt that the drill data and assays have been reviewed. Nevertheless, the data we have to look at thus far is pretty impressive and this aggressive snapping-up of more key acreage at Newsboy should really turn a few heads in investing circles.
Great news for BFGC as gold climbs back up comfortably above the $1600.00 level today amid safe-haven traction, due in part to the inability of the Cyprus parliament to organize voting on a crucial bank-levy note that would tax from 6.75% to 9.9% on all holders of bank deposits as the €5.8B is raised to cover bailouts, even as the exchanges are off in choppy mis-day trading.
For more information on Bullfrog Gold, visit BullfrogGold.com
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