I believe the 'standard' frame, old and new, is what is (or used to be) called malleable iron rather than cast iron. As said, cast iron is brittle, and totally unsuited for a gun frame and could break at any time.
Malleable iron can be formed by hammer or dies as it is 'plastic' in property thus will flow under pressure. This melt is probably cast (thus really cast malleable iron), then finished in a number of die steps.
Again, perhaps a metalurgist could best answer this, but the above may provide the layman a better understanding.