updated 12/19/2010 6:15:14 AM ET 2010-12-19T11:15:14

ATLANTA, Dec. 17, 2010 (GLOBE NEWSWIRE) -- Dutch Gold Resources, Inc. (Pink Sheets:DGRI) (the "Company") ( http://dutchgold.com ) today announced that it is acquiring the drill cuttings and core from the majority of the 323 holes historically drilled on its Basin Gulch property in Granite County, Montana. The historical drilling on the Basin Gulch property outlined a large open-ended block of gold mineralization that contains several million ounces of gold and silver.   The current evaluation and planned new drilling are being focused on defining and expanding high-grade zones both within and outside of the historically discovered mineralization.

The Company anticipates reorganizing and safely storing the samples to allow for further review and testing. Historical sampling of 1,000 gram and larger selected core and cuttings samples showed that portions of the Basin Gulch mineralization contain coarse gold, which can only be evaluated by bulk sampling. The historic bulk sampling was conducted on samples from a variety of locations and mineralization grades. The testing showed that the coarse gold occurred in specific areas. On average, the bulk sampling increased the overall grade of the tested samples substantially over their original 30-gram assays.

The planned new bulk testing will be conducted with the goal of expanding the known areas containing coarse gold, increasing the ore grades in areas with coarse gold, and to determine how much of the coarse gold can be recovered through simple gravity methods. This work involving the drill samples will be conducted over the winter where results could guide further trench bulk testing in the second quarter 2011.

The Company believes it may be significant that much of the historic early twentieth century placer mining at Basin Gulch involved placering of the in-place volcanic diatreme rocks. This is interpreted to mean that the large diatreme complex, which has a surface area of approximately 3,300 feet by 2,700 feet, contains significant areas with coarse gold mineralization. This is interpreted to be encouraging for the future discovery of high-grade gold mineralization deeper in the diatreme.

Additionally, the Company announced it would present a year-end shareholder update on the Company's progress on December 20, 2010, wherein the Company will discuss plans for 2011 and review the performance during 2010. The update will discuss the Company's current capital structure, near term plans, and an outlook on the gold mining sector for 2011.

About Dutch Gold Resources:

Dutch Gold Resources, Inc. is engaged in the production and development of gold reserves in North America. The company's strategy is to focus on overlooked resources that can be quickly and cost-efficiently brought into production, and to seek out potentially significant exploration targets in high value geographies. The Basin Gulch project Montana, the Jungo property outside Winnemucca, Nevada, and the Gold Big Mine in Oregon comprise the Company's current portfolio. The DGRI management team is composed of seasoned professionals with decades of experience in geology, and in mergers and acquisitions, as well as corporate finance. 

Forward-Looking Statements

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.

CONTACT:  Dutch Gold Resources, Inc.
          Steve Keaveney
          (404) 419-2440
          www.DutchGold.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 2.44%
$30K home equity loan FICO 5.78%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.57%
13.57%
Cash Back Cards 17.91%
17.91%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com