Soldi Ventures Inc. to Commence Drilling on the Golden Bullet Project, Newfoundland
10 Noviembre 2011 - 10:08AM
Marketwired
Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) reports that it has
contracted Springdale Forest Resources Inc. (Diamond Drilling
Division) of Springdale, NL to conduct a 2,000 meter drill program
on the permitted Golden Bullet Project. Mobilization of the drill
has commenced and drilling is scheduled to begin next week to test
a number of high priority gold (Au) targets selected after
reviewing the recently completed Induced Polarization (IP) and
Gravity surveys over all of the main target areas of the Golden
Bullet license, including the high grade Knob and Bullet
prospects.
The drill program will include drilling on the high grade Knob
Prospect, which has historical drill intercepts of up to 57.46 g/t
Au over 4.30 meters and the Knob Offset vein system with drill
intercepts of 8.98 g/t Au over 14.33 meters. The Bullet Extension
zone, which has several high-grade grab samples and multiple drill
hole intercepts ranging from 1-17 g/t Au over various intercept
lengths (please review previous releases) will also be drilled.
Further ground work will be carried out in areas with historic
and recently discovered high gold values where they are coincident
with anomalous resistivity and chargeability targets from the IP
survey. The objective is to upgrade these areas to drill targets.
Two examples of this are the recently discovered Vg zone with grabs
samples of up to 298.8 g/t Au along with the newly discovered
Quarry zone with channel samplings of 1.51 g/t Au over 5.5 meters
within 0.91 g/t Au over 31 meters.
Grab samples are selective by nature and are unlikely to
represent average grades on the property.
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 1.6 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.
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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