ATLANTA, March 15, 2011 (GLOBE NEWSWIRE) -- Dutch Gold Resources, Inc. (OTCQB:DGRI) (the "Company") () today announced that it plans to permit additional holes to follow up its current program of fill-in drilling of the Basin Gulch fault zone on the north side of the diatreme complex. The additional drilling will attempt to clarify the geometry of a complex breccia zone which has local very high grade, high-angle pebble dikes within highly leached and altered Precambrian quartzite that is pervasively low-grade gold and silver mineralized. Several holes were historically drilled into this zone.
The matrix of these pebble dikes locally contains visible crystalline gold in cubes up to a quarter of an inch across. These gold cubes are likely replacements of pyrite crystals. Assays of the drill holes show low-grade gold and silver, interspersed with multi-ounce assays, with assays as high as 70 ounces per ton. Presumably, the multi-ounce assays included pieces of coarse gold. Drill holes intersected this coarse gold at depths ranging from 70 to 115 feet. Because of the erratic nature of the assays and of the pebble dikes, it is difficult to estimate either an overall grade or volume to this pebble dike zone. Future bulk sampling may be warranted. This zone can potentially be accessed by a short adit from the nearby hillside.
The previous drilling of the zone included only one core hole, plus several angled reverse-circulation holes. Dutch plans a new core hole, followed by up to four additional core holes.
"We will likely need to drive a test adit into the zone to see what it looks like. The coarse gold particles and irregular pebble dikes make projections of grade and in-place ounces very difficult to estimate. However, with multi-ounce grades in several drill holes within a hundred-foot area fifty feet thick, I believe a short test adit will be warranted," said Rauno Perttu, Chief Operating Officer.
Dutch Gold Resources, Inc. is engaged in the acquisition and development of gold properties in North America. The company's strategy is to focus on overlooked resources that have the potential to have a value creation event within 24 months of acquisition. The Company criteria call for a property to reach either near term production, or be a candidate for development through joint venture financing during the two years subsequent to acquisition. The Basin Gulch project Montana, the Jungo property outside Winnemucca, Nevada, and the Gold Bug 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.
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CONTACT: Steve Keaveney Dutch Gold Resources, Inc. (404) 419-2440 www.DutchGold.com