Soldi Ventures Inc. Receives Drill Permit for the Golden Bullet Project, Newfoundland
October 18 2011 - 2:14PM
Marketwired
Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) reports that its
proposed 10 hole (2,000 meter) drill program to be carried out on
the Golden Bullet Project has been fully approved by the Ministry
of Natural Resources in Newfoundland. The permitted locations will
test the majority of the principal gold showings and prospects.
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 338.6 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.
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 2.3 m, 102.2 g/t over 0.76 m, 32.2 g/t over 1.6m, 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.
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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