Soldi Ventures Inc. Summarizes Results From the Winter Drill Programs at the Golden Bullet Project, Newfoundland
2012年4月10日 - 10:00PM
Marketwired Canada
Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) is pleased to summarize the assay
results and provide a summary report for the winter 2011 and winter 2012
drilling programs on its Golden Bullet project in central Newfoundland. Soldi
completed 15 diamond drill holes during the 2011 drill program, and an
additional 8 diamond drill holes early in 2012 for a total of 2,688 metres (see
press releases dated December 5th 2011, January 18th 2012, January 24th 2012,
February 9th 2012, and February 14th 2012). The drilling was successful with the
identification of multiple zones of visually significant gold mineralization.
All holes intercepted some level of anomalous gold but only the most significant
results have been provided in Tables 1 and 2.
Soldi would like to announce new results from the most significant previously
unannounced holes which are SV-11-12, SV-11-13, SV-12-01, SV-12-02, and
SV-12-07.
SV-11-12 was drilled approximately 90-100 metres 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. The intercept near the visible gold was 28.98g/t gold over
0.50 metres as determined by the metallic assaying technique found within an
interval grading 1.23 g/t gold over 17.85 metres (refer to Table 1).
SV-11-13 was drilled 50 meters south of Hole SV-11-07 to test the high grade
grab samples (2130 g/t gold) taken in the historical work conducted by Noranda.
This hole intersected visible gold at the 30 metre mark within a zone of 6.01
g/t gold over 3.55 metres, including 8.44 g/t over 2.45 metres, 13.75 g/t gold
over 1.25 metres, and 19.99 g/t gold over 0.60 metres (refer to Table 1).
The most notable newly released intercepts from the 2012 program came from
SV-12-01, SV-12-02, and SV-12-07 providing essential information for the next
drill program (Refer to Table 2). In particular, SV-12-01 intersected 8.49 g/t
gold over 0.50 metres. This intercept is included in a section grading 0.65g/t
gold over 9.85 metres.
Throughout the drill programs it was noted that there was a measurable amount of
coarse free gold in a large percentage of holes. Due to the coarse free gold
observed in various core samples, management felt that to adequately reflect the
actual gold concentration in the core an additional assaying technique would be
implemented. Therefore, in conjunction with the Standard Fire assaying technique
normally implemented, metallic assaying was also used in some cases to determine
gold concentrations over the most notable intercepts.
Some of the most significant previously announced values of the entire program
were discovered in Hole SV-11-06. Using the latest metallic assaying techniques,
for the high grade section in Hole SV-11-06, Soldi intersected 62.99 g/t gold
(2.02 ounces/ton) over 0.70 metres. This intercept is included in a section
grading 43.51g/t gold (1.40 ounces/ton) over 1.10 metres, which is within a
section grading 23.73g/t gold (0.76 ounces/ton) over 2.15 metres, all within a
larger 5.4 metre intercept that graded 9.80g/t gold(0.31 ounces/ton).
Forty meters to the northwest of Hole SV-11-06, Hole SV-11-07 also had a number
of very significant intercepts with 20.24g/t gold over 0.80 metres and 18.23g/t
gold over 0.50 metres within an interval grading 5.55 g/t gold over 5.3 metres,
within an interval grading 1.984 g/t gold over 17.15 metres, all within a very
broad zone of 1.322 g/t gold over 32.2 metres.
Hole SV-11-09 was collared 25 metres along strike from Hole SV-11-07 and host a
wide intercept of 3.44 g/t gold over 5.50 metres. Significant assay results from
Hole SV-11-09 included intervals of 7.85 g/t gold over 1.80 metres, 9.3 g/t gold
over 0.4 metres, and 7.6 g/t gold over 0.50 metres (within a broader zone of
3.44 g/t gold over 5.5 metres). Other notable intercepts throughout Hole
SV-11-09 suggest a large mineralizing event. Of particular interest is the
intercept of 1.632 g/t gold over 1.0 metre, located at the 46.5 metre mark of
Hole SV-11-09. This section contained coarse visible gold but only returned very
modest assay results. It appears that the Knob zone is very susceptible to a
coarse gold effect which will prove to be a challenge in determining actual
grades.
Drill Hole SV-11-08 was drilled directly underneath (15 metre step back) the
historical higher grade intercept of 57.46 g/t gold over 4.30 metres previously
announced. The best assay result from Hole SV-11-08 is 0.55 g/t gold over 4.1
metres. It would appear that the veins blend in and out of high and low grade
throughout the area.
Further drilling will be required to determine the true width of the zones. See
Table 1 below for the intercepts (new drill results are marked with an (i)).
Table 1. Assay results from the Winter 2011 Drill Program
--------------------------------------------------------------------
From To
Drill Hole Easting Northing Azimuth Dip (m) (m)
--------------------------------------------------------------------
SV-11-06 657112 5425580 200 -45 13.75 18.50
--------------------------------------------------------------------
Incl. 13.75 17.00
--------------------------------------------------------------------
25.30 28.30
--------------------------------------------------------------------
39.20 44.60
--------------------------------------------------------------------
Incl. 39.20 42.35
--------------------------------------------------------------------
Incl. 39.20 41.35
--------------------------------------------------------------------
Incl. 39.20 40.30
--------------------------------------------------------------------
Incl. 39.60 40.30
--------------------------------------------------------------------
SV-11-07 657076 5425572 180 -45 42.50 76.00
--------------------------------------------------------------------
Incl. 42.50 74.70
--------------------------------------------------------------------
Incl. 58.85 76.00
--------------------------------------------------------------------
Incl. 58.85 64.20
--------------------------------------------------------------------
Incl. 59.20 59.70
--------------------------------------------------------------------
Incl. 61.85 62.65
--------------------------------------------------------------------
SV-11-08 657064 5425581 180 -45 50.60 54.70
--------------------------------------------------------------------
Incl. 54.30 54.70
--------------------------------------------------------------------
SV-11-09 657050 5425571 180 -45 10.00 15.50
--------------------------------------------------------------------
Incl. 13.00 14.50
--------------------------------------------------------------------
Incl. 13.00 13.50
--------------------------------------------------------------------
Incl. 14.10 14.50
--------------------------------------------------------------------
34.70 39.70
--------------------------------------------------------------------
Incl. 34.70 37.00
--------------------------------------------------------------------
Incl. lost core
--------------------------------------------------------------------
Incl. 38.50 39.70
--------------------------------------------------------------------
43.60 44.10
--------------------------------------------------------------------
46.50 47.45
--------------------------------------------------------------------
(i)SV-11-12 657054 5425713 170 -50 149.15 167.00
--------------------------------------------------------------------
Incl. 150.15 151.80
--------------------------------------------------------------------
Incl. 150.65 151.15
--------------------------------------------------------------------
178.90 182.00
--------------------------------------------------------------------
186.00 190.00
--------------------------------------------------------------------
(i)SV-11-13 657128 545545 230 -45 27.45 31.00
--------------------------------------------------------------------
Incl. 28.55 31.00
--------------------------------------------------------------------
Incl. 29.05 30.30
--------------------------------------------------------------------
Incl. 29.70 30.30
--------------------------------------------------------------------
--------------------------------------------------------------------------
Gold Gold Total
Length g/t) (g/t) Depth
Drill Hole Easting Northing Azimuth (m) S. Fire Metallics (m)
---------------------------------------------------------------------------
SV-11-06 657112 5425580 200 4.75 0.81 92
---------------------------------------------------------------------------
3.25 1.03
---------------------------------------------------------------------------
3.00 1.12
---------------------------------------------------------------------------
5.40 7.22 9.80
---------------------------------------------------------------------------
3.15 12.03 16.20
---------------------------------------------------------------------------
2.15 17.36 23.73
---------------------------------------------------------------------------
1.10 31.85 43.51
---------------------------------------------------------------------------
0.70 45.75 62.99
---------------------------------------------------------------------------
SV-11-07 657076 5425572 180 33.50 1.27 83
---------------------------------------------------------------------------
32.20 1.32
---------------------------------------------------------------------------
17.15 1.98
---------------------------------------------------------------------------
5.35 5.55
---------------------------------------------------------------------------
0.50 18.23 34.70
---------------------------------------------------------------------------
0.80 20.24 22.80
---------------------------------------------------------------------------
SV-11-08 657064 5425581 180 4.10 0.55 0.97 90
---------------------------------------------------------------------------
0.40 3.97 6.47
---------------------------------------------------------------------------
SV-11-09 657050 5425571 180 5.50 3.02 3.44 85
---------------------------------------------------------------------------
1.50 6.60 7.85
---------------------------------------------------------------------------
0.50 9.23 11.65
---------------------------------------------------------------------------
0.40 7.71 9.30
---------------------------------------------------------------------------
5.00 1.33
---------------------------------------------------------------------------
2.30 1.37
---------------------------------------------------------------------------
1.50 NA
---------------------------------------------------------------------------
1.20 2.91
---------------------------------------------------------------------------
0.50 7.56
---------------------------------------------------------------------------
0.95 1.63
---------------------------------------------------------------------------
(i)SV-11-12 657054 5425713 170 17.85 0.79 1.23 201
---------------------------------------------------------------------------
1.65 5.31 10.27
---------------------------------------------------------------------------
0.50 10.75 28.98
---------------------------------------------------------------------------
3.10 0.59 0.59
---------------------------------------------------------------------------
4.00 0.46 0.46
---------------------------------------------------------------------------
(i)SV-11-13 657128 545545 230 3.55 6.01 4.38 83
---------------------------------------------------------------------------
2.45 8.44 4.21
---------------------------------------------------------------------------
1.25 13.75 8.16
---------------------------------------------------------------------------
0.60 19.99 8.17
---------------------------------------------------------------------------
Analyses for all assaying techniques from the 2011 drill program were performed
by Accurassay Laboratories Ltd. out of Ontario, Canada, and by Eastern
Analytical from Springdale, Newfoundland.
The 2012 winter drill program used IP selected targets and other target
selections derived from the 2011 program in order to test the strike and depth
extension of the altered unit in the immediate area of drill hole SV-11-12 and
to test other similar targets. Primarily, the other targets were 400-500 metres
to the west near the Letha and Grouse prospects. The most significant results
came from Hole SV-12-04. Hole SV-12-04 was drilled to test the extension of a
historical high grade intercept of 57.46 g/t gold over 4.30 metres previously
disclosed as the Knob showing. Hole SV-12-04 was planned to intercept the target
depth approximately 15 metres south of the historical intercept.
Assay results for the high grade section in Hole SV-12-04 include 93.96 g/t gold
(3.02 ounces/ton) over 0.85 metres. This intercept is included in a section
grading 62.67g/t gold (2.02 ounces/ton) over 1.30 metres, which is within a
section grading 41.70g/t gold (1.34 ounces/ton) over 2.00 metres, all within a
larger 7.10 metre intercept that graded 12.40g/t gold(0.40 ounces/ton). The true
width of the zone is unknown. Further drilling will be required to determine the
true width of the zone.
The true width of the zone is unknown. Further drilling will be required to
determine the true width. See Table 2 below for the intercepts from the 2012
drill program (new drill results are marked with an (i)).
.
Table 2. Assay results from the Winter 2012 Drill Program
--------------------------------------------------------------------
From To
Drill Hole Easting Northing Azimuth Dip (m) (m)
--------------------------------------------------------------------
(i)SV-12-01 657095 5425765 170 -50 118.50 128.35
--------------------------------------------------------------------
Incl. 118.50 119.00
--------------------------------------------------------------------
194.00 194.60
--------------------------------------------------------------------
204.00 205.60
--------------------------------------------------------------------
(i)SV-12-02 657054 5425713 170 -50 179.05 182.25
--------------------------------------------------------------------
Incl. 179.05 180.40
--------------------------------------------------------------------
SV-12-04 657071 5425564 180 -45 35.55 42.65
--------------------------------------------------------------------
Incl. 35.55 41.70
--------------------------------------------------------------------
36.15 41.70
--------------------------------------------------------------------
37.35 41.70
--------------------------------------------------------------------
39.20 41.70
--------------------------------------------------------------------
39.70 41.70
--------------------------------------------------------------------
39.70 41.00
--------------------------------------------------------------------
39.70 40.55
--------------------------------------------------------------------
(i)SV-12-07 657103 5425588 200 -45 4.90 8.15
--------------------------------------------------------------------
7.00 8.15
--------------------------------------------------------------------
39.00 63.85
--------------------------------------------------------------------
--------------------------------------------------------------------------
Gold Gold Total
Length (g/t) (g/t) Depth
Drill Hole Easting Northing Azimuth (m) S. Fire Metallics (m)
--------------------------------------------------------------------------
(i)SV-12-01 657095 5425765 170 9.85 0.65 305
--------------------------------------------------------------------------
0.50 8.49 3.2
--------------------------------------------------------------------------
0.60 1.06
--------------------------------------------------------------------------
1.60 1.00
--------------------------------------------------------------------------
(i)SV-12-02 657054 5425713 170 3.20 0.74 242
--------------------------------------------------------------------------
1.15 1.24
--------------------------------------------------------------------------
SV-12-04 657071 5425564 180 7.10 12.40 11.03 74
--------------------------------------------------------------------------
6.15 14.18 12.71
--------------------------------------------------------------------------
5.55 15.62 13.99
--------------------------------------------------------------------------
4.35 19.62 17.61
--------------------------------------------------------------------------
2.50 33.33 29.64
--------------------------------------------------------------------------
2.00 41.43 37.10
--------------------------------------------------------------------------
1.30 62.67 56.36
--------------------------------------------------------------------------
0.85 93.96 84.41
--------------------------------------------------------------------------
(i)SV-12-07 657103 5425588 200 3.25 0.86 92
--------------------------------------------------------------------------
1.15 1.86
--------------------------------------------------------------------------
24.85 0.20
--------------------------------------------------------------------------
Analyses for all assaying techniques from the 2012 drill program were performed
by Eastern Analytical in Springdale, Newfoundland.
Summary
Although results of both programs are being further evaluated, some tentative
conclusions can now be made.
High grade gold within the visible gold bearing quartz vein system of the main
Knob prospect has been extended an additional 100 metres to the north and to 150
metres in depth. The vein system has also been extended an additional 25 metres
to the south where it is thought to be faulted off. The zone is now shown to be
a minimum of 200 metres in length and remains open to the north to the east and
at depth.
An additional high grade visible gold bearing quartz vein system has been
discovered in Hole SV-11-06 (62.99 g/t Au /0.70 metre within 9.80 g/t Au /5.4
metre). Further work is required to determine the nature of this new discovery.
Drilling of one hole on an IP target 450 metres to the west of the main Knob
prospect and another hole on an IP target 400 metres east of the prospect has
extended the favourable stratigraphy for an additional kilometer. More refined
geophysics will be needed to identify additional areas of mineralization within
this stratigraphy.
Overall, the results of the program confirm the presence of widespread,
anomalous to high grade gold values throughout the property. With this comes the
very real possibility of future high grade gold discoveries. This potential can
be further substantiated by the surprising new discovery of the additional high
grade gold bearing vein system in Hole SV-11-06 and additional visible gold
bearing veins in holes SV-11-07, SV-11-09, SV-11-12, Sv-11-13, SV-12-01 and
SV-12-04.
Additionally the necessity of further refinement of future geophysical surveys
has been realized. This would necessitate the spacing interval to be narrowed
from the present 50 metres to 25 metres. The 50 metre spacing of the original IP
program provides good definition of the favourable stratigraphy that is host to
the gold mineralization but does not provide the definition necessary to outline
and define specific areas of mineralization within the stratigraphy. Future IP
programs will take these recommendations into consideration in order to better
define future drilling locations.
To help establish the orientation of the very complex vein systems and thus aid
in future drilling, 3D imaging of all drilling to the present day appears to be
necessary. This would better define the strike, orientation and extent of the
known veining. Alternately a small, open pit, bulk sample of 500-1000 tons could
be taken. This would better expose the vein systems, provide a more reliable
grade for the deposit and exhibit a more reliable overview of the presently
outlined mineralization.
Future programs will consider all of these options. Equally, any future programs
will attempt to further extend the project an additional 320 metres west, which
will encompass the highly significant Grouse prospects which has seen only
minimal drilling. Time constraints in the permitting process did not allow work
to be conducted on this prospect during this drill program.
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.
Historical Drilling at the Golden Bullet License
The two most significant historical gold showings are the grab sample of 2,130
g/t gold, 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 gold over 4.30 metres, 38.53 g/t gold over 6.45 metres, 106.2 g/t gold over
2.3 metres, 102.2 g/t gold over 0.76 metres, 32.2 g/t gold over 1.6 metres,
24.38 g/t gold over 1.83 metres and 8.98 g/t gold over 14.33 metres. 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 exploration company
focused on discovering gold and graphite 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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