ATLANTA, March 3, 2011 (GLOBE NEWSWIRE) -- Dutch Gold Resources, Inc. (OTCQB:DGRI) (the "Company") ( http://dutchgold.com ) today announced that it has completed its initial analysis of the drill hole data from the recently completed Jungo drilling program. Based on the assays, the Company is pleased to report confirmation of earlier trenching data, warranting further exploration of the Jungo targets.
The core hole confirmed the trench structure. The core interval from 60 feet to 336 feet is dominated by fine-grained shallow sialic igneous rock mixed with local blocks and fragments of Pretertiary sedimentary rocks and chloritized diorite. The interval contains abundant bleaching, silicification, clay-like alteration, and apparent volcanic ash and pumice. The entire interval contains very abundant sulfides, with local zones that are mostly pyrite. The sulfides are associated with zones of shearing, tectonic flow structures, and crackle breccia textures. The interval appears to cross a volcanic vent zone that developed along range front faulting.
The property appears to contain at least two mineral systems, an earlier, higher temperature copper-dominated system, and a later lower temperature gold and silver dominated system.
The drill hole intersected an interval containing 1.4 percent copper from 55 to 70 feet. This copper zone has been encountered in trenches and prior drilling on the property to the north. Although the interpreted vent zone in the drill hole is considered to be high in the structure, almost all of the zone from 60 feet to 336 feet contained measurable levels of gold. The interval from 75 feet to 80 feet assayed 0.017 opt gold and 0.2 opt silver. The interval from 105 feet to 115 feet assayed 0.02 opt gold and 0.5 opt silver. The interval from 146 feet to 148 feet assayed 0.04 opt gold and 0.5 opt silver. A two-inch sample selected for more detailed assaying at 105 feet assayed 0.5 opt gold and 10 opt silver, suggesting a possible nugget effect. Additional assaying has been ordered to confirm that a nugget effect exists.
Dutch's geologist, Rauno Perttu, said, "We consider this drill hole to be very encouraging. It is a strong, thick zone with more sulfides than I have seen in a long time. The strong sulfides, coupled with strong arsenic and measurable gold and silver over a broad zone at a very shallow part of the system tell me this zone needs to be drilled at deeper levels to explore for high grade mineralization. The trenching and drilling have established persistent mineralization over an open-ended area several hundred feet wide that extends for 2,000 foot along the range front and has not yet been limited. To find these positive geological indicators and strong gold and silver showings this high in a basically untested system in Nevada is rare. I look forward to what we will find at a deeper, higher temperature level."
The actual data from the drilling program is available on the Company website at .
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.
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