Soldi Ventures Inc. Updates Work Program at the Golden Bullet Project, Newfoundland
August 31 2011 - 9:00AM
Marketwired
Soldi Ventures Inc. (Soldi) (TSX VENTURE: SOV) is pleased to update
its current work program on its Golden Bullet Project in central
Newfoundland.
The soil sampling on the recently acquired Boulder license
(acquisition announced on May 16th 2011) has been completed and
Soldi is currently awaiting assay results. Previous sampling on the
Boulder license returned values of up to 5.4 oz/t Au (167 g/t)
(announced August 16th 2011) from visible gold bearing angular
quartz.
Within the Golden Bullet Project, a small trenching program west
of the high grade Bullet prospect has further exposed the recently
discovered Quarry showing for an additional 25 meters and has been
expanded up to 10 meters in width. Mineralization remains robust
and additional parallel veining up to 1.5 meters in width has been
discovered nearby. Soldi is currently stripping and washing the
exposed outcrop at the Quarry showing for channel sampling.
An upcoming soil sampling program around the Letha and Grouse
prospects, found on the Golden Bullet license, will be carried out.
This exploration will help to further define the 36 meter wide
quartz vein system that has shown to hold high grade gold at
surface and produced drill core showing 0.65 g/t Au over 33 meters.
In addition to this work, soil sampling will be conducted along
strike from the Knob prospect (located within the Golden Bullet
license) to support the historical float sample assay of 93 g/t as
well as the recently discovered quartz float samples averaging 4.2
g/t.
A new finding of visible gold has been discovered approximately
75 meters across strike from the Bullet prospect. The Bullet
prospect, along with numerous other occurrences, appears to be
trending toward the main, high grade Knob prospect three hundred
meters to the west. Current exploration will determine the
likelihood of all the prospects and showings being connected. To
further this idea and to help identify additional trenching and
possible drill targets, Soldi has commenced an Induced Polarity
(IP) and Gravity Survey over all of the main target areas of the
Golden Bullet license, including the high grade Knob and Bullet
prospects. A total of 22.4 kilometers of surveying will be
completed over the next week with expected trenching to follow.
Samples collected from the program are being analyzed at the
Eastern Analytical Ltd. Laboratory located in Springdale,
Newfoundland.
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, CEO, CFO, Secretary and
Director
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.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Soldi Ventures Inc. Jeanne MacDonald Manager of
Corporate Communications (604) 683 5445 ext 226
jeanne@soldiventuresinc.com www.soldiventuresinc.com
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