Soldi Ventures Inc. Assays up to 298.8 g/t Gold on the Golden Bullet Project, Newfoundland
October 11 2011 - 11:36AM
Marketwired
Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) reports that high
grade gold mineralization has been further defined at the Vg
showing on the Golden Bullet Property. The Vg showing located
between the Quarry showing and Bullet prospect has returned
significant gold assays of 16.8 g/t, 43.3 g/t, 136.6 g/t and of
298.8 g/t. The Vg showing is now scheduled to be channel sampled
when quarry operations cease later in the season.
In addition, a newly discovered area of high grade gold
mineralization has recently been located approximately 3 kilometers
along strike from the high grade Knob prospect. This gold showing
has subcroping material from an iron carbonated, quartz veined
greywacke unit that assayed as high as 45.3 g/t gold. Additional
work is required in this area to better determine the extent of
this newly discovered zone.
Results from channel sampling of the Quarry showing have been
received and are encouraging with 5.5 meters of 1.52 g/t gold
within an overall average of 0.91 g/t over 32.35 meters.
Results from a small soil sampling program conducted over the
Boulder license have been received and are also encouraging. Soil
values of up to 417 ppb gold were returned from the sample grid and
have generated a number of future trenching targets.
Soldi would also like to report the completion of the recently
announced 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 have been completed and trenching is scheduled to follow.
A number of clearly defined resistivity and chargeability targets
have been identified. Interpretation and refinement of the newly
identified targets is presently underway with further refinement
expected upon receipt of the soil survey results.
Soldi is currently awaiting approval for drilling permits to
test multiple targets on the Golden Bullet License (10100m) which
host the majority of the main gold showings and prospects as
identified in the August 31st 2011 release.
Samples collected from the program are being analyzed at the
Eastern Analytical Ltd. Laboratory located in Springdale,
Newfoundland.
Golden Bullet Project Overview
The two primary licenses within this project are the Golden
Bullet License and the newly acquired 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.
The two most significant historical gold showings are the grab
sample of 2,130 g/t, recorded by Noranda and the 338.6g/t gold
discovered by Rubicon Minerals in a grab sample in 2005.
Historical Drilling at the Golden Bullet License
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 2.3m, 102.2 g/t over 0.76m, 32.2 g/t over 1.6m, 24.38 g/t over
1.83m and 8.98 g/t over 14.33m. 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.
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.
"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. Charles Desjardins President (604)
683 5445 (604) 687-9631
(FAX)info@soldiventuresinc.comwww.soldiventuresinc.com
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