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Soldi Ventures Inc. Recommences Drilling near High Grade Gold
Discoveries on the Golden Bullet Project, Newfoundland
Soldi Ventures Inc. Recommences Drilling near High Grade Gold
Discoveries on the Golden Bullet Project, Newfoundland
January 18, 2012: Soldi Ventures Inc. (Soldi) (TSX-V symbol:
SOV) is pleased to report that drilling has recommenced on
the Golden Bullet Project in Newfoundland. To date, drilling
has successfully intersected multiple zones of visually
significant mineralization containing visible gold.
The most significant of these visible gold bearing holes is Hole SV-11-12, which was drilled approximately 90-100 meters east of any previous drill hole. Visible gold was noted in this hole at an approximate depth of 150 metres, within an intermittently quartz veined and mineralized 40-50 metre section of altered greywacke. This hole was collared on a co-incident geochemical and geophysical target and multiple similar targets exist on the property. The current drilling phase will include drill holes to test the strike and depth extension of this altered unit and will also test a number of very similar targets in the immediate area of this discovery. A number of other very similar targets, 400-500 meters to the west near the Letha and Grouse prospects will also be drill tested.
Golden Bullet Project Overview The two primary licenses within this project are the Golden Bullet License and the 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.
Soldi completed fifteen diamond drill holes during the recent 2011 winter drill program which was successful in indentifying multiple zones of visually significant mineralization, with many holes containing visible gold.
Table 1. Notable Intercepts From the Winter 2011 Drill Program
Hole SV-11-06 has the most significant high grade intercept with 45.8 g/t Au over 0.70 metres(m), including 17.36 g/t Au over 2.15 m and 12.03 g/t Au over 3.15 m within a wider zone of 7.2 g/t Au over 5.4 m.
Forty meters to the northwest of Hole SV-11-06, Hole SV-11-07 also had a number of very significant intercepts with 20.24g/t Au over 0.80 m and 18.23g/t Au over 0.50 m within an interval grading 5.55 g/t Au over 5.3 m, within an interval grading 1.984 g/t Au over 17.15 m, all within a very broad zone of 1.322 g/t Au over 32.2 m.
Historical Drilling at the Golden Bullet License
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.
Other 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. The historical data has not been verified.
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
Soldi Ventures Inc. (TSX-V symbol: SOV) is a Canadian junior gold exploration company focused on discovering gold deposits in politically safe jurisdictions.
For additional information please contact:
Jeanne MacDonald
Manager of Corporate Communications
Email: jeanne@soldiventuresinc.com
Telephone: (604) 683 5445 ext 226
On behalf of the board of
SOLDI VENTURES INC.
"Charles Desjardins"
Charles Desjardins
President, CEO, CFO, Secretary and Director
"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."
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.
The most significant of these visible gold bearing holes is Hole SV-11-12, which was drilled approximately 90-100 meters east of any previous drill hole. Visible gold was noted in this hole at an approximate depth of 150 metres, within an intermittently quartz veined and mineralized 40-50 metre section of altered greywacke. This hole was collared on a co-incident geochemical and geophysical target and multiple similar targets exist on the property. The current drilling phase will include drill holes to test the strike and depth extension of this altered unit and will also test a number of very similar targets in the immediate area of this discovery. A number of other very similar targets, 400-500 meters to the west near the Letha and Grouse prospects will also be drill tested.
Golden Bullet Project Overview The two primary licenses within this project are the Golden Bullet License and the 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.
Soldi completed fifteen diamond drill holes during the recent 2011 winter drill program which was successful in indentifying multiple zones of visually significant mineralization, with many holes containing visible gold.
Table 1. Notable Intercepts From the Winter 2011 Drill Program
| Drill Hole | Easting | Northing | Azimuth | Dip | From(m) | To(m) | Length(m) | Gold(g/t) | Total Depth(m) | |
| SV-11-06 | 657112 | 5425580 | 200 | -45 | 13.75 | 18.50 | 4.75 | 0.811 | 92 | |
| Incl. | 13.75 | 17.00 | 3.25 | 1.026 | ||||||
| 25.30 | 28.30 | 3.00 | 1.115 | |||||||
| 39.20 | 44.60 | 5.40 | 7.220 | |||||||
| Incl. | 39.20 | 42.35 | 3.15 | 12.030 | ||||||
| Incl. | 39.20 | 41.35 | 2.15 | 17.360 | ||||||
| Incl. | 39.20 | 40.30 | 1.10 | 31.850 | ||||||
| Incl. | 39.60 | 40.30 | 0.70 | 45.750 | ||||||
| SV-11-07 | 657076 | 5425572 | 180 | -45 | 42.50 | 76.00 | 33.50 | 1.274 | 83 | |
| Incl. | 42.50 | 74.70 | 32.20 | 1.320 | ||||||
| Incl. | 58.85 | 76.00 | 17.15 | 1.984 | ||||||
| Incl. | 58.85 | 64.20 | 5.35 | 5.550 | ||||||
| Incl. | 59.20 | 59.70 | 0.50 | 18.230 | ||||||
| Incl. | 61.85 | 62.65 | 0.80 | 20.240 |
Hole SV-11-06 has the most significant high grade intercept with 45.8 g/t Au over 0.70 metres(m), including 17.36 g/t Au over 2.15 m and 12.03 g/t Au over 3.15 m within a wider zone of 7.2 g/t Au over 5.4 m.
Forty meters to the northwest of Hole SV-11-06, Hole SV-11-07 also had a number of very significant intercepts with 20.24g/t Au over 0.80 m and 18.23g/t Au over 0.50 m within an interval grading 5.55 g/t Au over 5.3 m, within an interval grading 1.984 g/t Au over 17.15 m, all within a very broad zone of 1.322 g/t Au over 32.2 m.
Historical Drilling at the Golden Bullet License
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.
Other 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. The historical data has not been verified.
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
Soldi Ventures Inc. (TSX-V symbol: SOV) is a Canadian junior gold exploration company focused on discovering gold deposits in politically safe jurisdictions.
For additional information please contact:
Jeanne MacDonald
Manager of Corporate Communications
Email: jeanne@soldiventuresinc.com
Telephone: (604) 683 5445 ext 226
On behalf of the board of
SOLDI VENTURES INC.
"Charles Desjardins"
Charles Desjardins
President, CEO, CFO, Secretary and Director
"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."
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.
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