Soldi Ventures Inc. Receives Results from Metallic Gold Assays at the Golden Bullet Project, Newfoundland
2012年2月10日 - 2:16AM
Marketwired Canada
Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) is pleased to provide the metallic
assay results from the first of the re-assayed holes from the winter 2011
drilling program on its Golden Bullet project in central Newfoundland. Due to
the coarse free gold observed in various core samples, management felt that the
previously announced assay results did not adequately reflect the actual gold
concentration in the core (Released January 5th, 2011). It was suspected that
the overall grades were not properly reflected in a number of areas through the
standard fire assay technique and that the metallic gold assays will more
accurately reflect true gold grades. Analyses for all assaying techniques were
performed by Accurassay Laboratories Ltd. out of Ontario, Canada.
Using the latest metallic assay results, for the high grade section in Hole
SV-11-06, Soldi has intersected 62.99 g/t gold (2.02 ounces/ton) over 0.70
metres. This intercept is included in a section grading 43.51 g/t gold (1.40
ounces/ton) over 1.10 metres, which is within a section grading 23.73 g/t gold
(0.76 ounces/ton) over 2.15 metres, all within a larger 5.4 metre intercept that
graded 9.80 g/t (0.31 ounces/ton). These results demonstrate a significant
improvement over assays using the standard fire assay method. The true width of
the zone is unknown. Further drilling will be required to determine the true
width. See Table 1 below for the intercepts;
Table 1. Metallic Assaying results from Hole SV-11-06 from the Winter 2011
Drill Program
---------------------------------------------------------------------------
Drill Hole Easting Northing Azimuth Dip From To Length Gold Total
(m) (m) (m) (g/t) Depth
(m)
---------------------------------------------------------------------------
SV-11-06 657112 5425580 200 -45 39.20 44.60 5.40 9.80 92
---------------------------------------------------------------------------
Incl. 39.20 42.35 3.15 16.20
---------------------------------------------------------------------------
Incl. 39.20 41.35 2.15 23.73
---------------------------------------------------------------------------
Incl. 39.20 40.30 1.10 43.51
---------------------------------------------------------------------------
39.60 40.30 0.70 62.99
---------------------------------------------------------------------------
Assay results from hole SV-11-06, derived by using the standard fire assay
technique, can be compared below in Table 2. Soldi is waiting on additional
metallic assay results from other drill holes from the 2011 drill program.
Within the overall drill program, the most significant of these visible gold
bearing holes is Hole SV-11-12, which was drilled approximately 90-100 meters
east of any previous drill hole. Visible gold was noted in this hole at an
approximate depth of 150 metres, within an intermittently quartz veined and
mineralized 40-50 metre section of altered greywacke.
As previously announced, Soldi is currently drilling and has just completed hole
SV-12-07 which was collared 15 meters along strike from hole SV-11-06. It was
drilled in an attempt to establish the orientation of the veins within this
zone. It appears that Hole SV-11-06 has encountered a new vein system. The hole
was collared approximately 90 metres east of the previously reported historical
intercept of 8.98 g/t over 14.33 metres.
Golden Bullet Project Overview
The two primary licenses within this project are the Golden Bullet License and
the Boulder License. A significant amount of historical work has been completed
on the Golden Bullet License identifying a number of prospects and showings.
Prospects can be defined as areas of interest that have been drilled whereas
showings are defined as having limited work.
Soldi completed fifteen diamond drill holes during the recent 2011 winter drill
program which was successful in indentifying multiple zones of visually
significant mineralization, with many holes containing visible gold.
Table 2. Notable Intercepts from Holes 6 and 7 of the Winter 2011 Drill
Program
----------------------------------------------------------------------------
Drill Hole Easting Northing Azimuth Dip From To Length Gold Total
(m) (m) (m) (g/t) Depth
(m)
----------------------------------------------------------------------------
SV-11-06 657112 5425580 200 -45 13.75 18.50 4.75 0.811 92
----------------------------------------------------------------------------
Incl. 13.75 17.00 3.25 1.026
----------------------------------------------------------------------------
25.30 28.30 3.00 1.115
----------------------------------------------------------------------------
39.20 44.60 5.40 7.220
----------------------------------------------------------------------------
Incl. 39.20 42.35 3.15 12.030
----------------------------------------------------------------------------
Incl. 39.20 41.35 2.15 17.360
----------------------------------------------------------------------------
Incl. 39.20 40.30 1.10 31.850
----------------------------------------------------------------------------
Incl. 39.60 40.30 0.70 45.750
----------------------------------------------------------------------------
SV-11-07 657076 5425572 180 -45 42.50 76.00 33.50 1.274 83
----------------------------------------------------------------------------
Incl. 42.50 74.70 32.20 1.320
----------------------------------------------------------------------------
Incl. 58.85 76.00 17.15 1.984
----------------------------------------------------------------------------
Incl. 58.85 64.20 5.35 5.550
----------------------------------------------------------------------------
Incl. 59.20 59.70 0.50 18.230
----------------------------------------------------------------------------
Incl. 61.85 62.65 0.80 20.240
----------------------------------------------------------------------------
(Previously reported in press release dated January 18th, 2012)
Hole SV-11-06 has the most significant high grade intercept with 45.8 g/t Au
over 0.70 metres(m), including 17.36 g/t Au over 2.15 m and 12.03 g/t Au over
3.15 m within a wider zone of 7.2 g/t Au over 5.4 m.
Forty meters to the northwest of Hole SV-11-06, Hole SV-11-07 also had a number
of very significant intercepts with 20.24 g/t Au over 0.80 m and 18.23 g/t Au
over 0.50 m within an interval grading 5.55 g/t Au over 5.3 m, within an
interval grading 1.984 g/t Au over 17.15 m, all within a very broad zone of
1.322 g/t Au over 32.2 m.
Historical Drilling at the Golden Bullet License
The two most significant historical gold showings are the grab sample of 2,130
g/t, recorded by Noranda and the 338.6 g/t gold discovered by Rubicon Minerals
in a grab sample in 2005. Grab samples are selective by nature and are unlikely
to represent average grades on the property.
Other notable gold intercepts from historical diamond drilling include: 57.46
g/t over 4.30 m, 38.53 g/t over 6.45 m, 106.2 g/t over 2.3 m, 102.2 g/t over
0.76 m, 32.2 g/t over 1.6 m, 24.38 g/t over 1.83 m and 8.98 g/t over 14.33 m.
These historical intercepts were drilled by Noranda beginning in 1987 and later
continued by a Gander River Minerals and Hemlo-Bristol Joint Venture in the
early 1990's. The Project lies within Davidsville Group turbiditic sediments
including intervals of slate, siltstone and sandstone-greywacke that are
interpreted to conformably overlie and be imbricated with the Gander River
Complex. A belt of greywacke dominant sediments bound between two topographic
linears appears to play a significant role in the known distribution of gold
showings. The historical data has not been verified.
Technical information in this news release has been prepared and/or revised by
Mike Magrum, P.Eng., Qualified Person as defined in NI 43-101 for Soldi.
You can now find Soldi Ventures Inc. on Twitter at http://twitter.com/soldiventures.
Soldi Ventures Inc. (TSX VENTURE:SOV) is a Canadian junior gold exploration
company focused on discovering gold deposits in politically safe jurisdictions.
On behalf of the board of SOLDI VENTURES INC.
Charles Desjardins, President
Cautionary note:
This report contains forward looking statements. Resource estimates, unless
specifically noted, are considered speculative. Any and all other resource or
reserve estimates are historical in nature, and should not be relied upon. The
production rate and mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations will be
economically viable. By their nature, forward looking statements involve risk
and uncertainties because they relate to events and depend on factors that will
or may occur in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing, currency exchange
rates, and, but not limited to, general economic factors. Cautionary Note to US
investors: The U.S. Securities and Exchange Commission specifically prohibits
the use of certain terms, such as "reserves" unless such figures are based upon
actual production or formation tests and can be shown to be economically and
legally producible under existing economic and operating conditions.
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