ATLANTA, Sept. 29, 2011 (GLOBE NEWSWIRE) -- Dutch Gold Resources, Inc. (OTCQB:DGRI) (the "Company") (http://dutchgold.com) today announced that it is mobilizing a core drill to begin confirmation drilling of a new target near the historic Minnie Moore Mine, near the town of Bellevue, in southern central Idaho. The mobilization is expected to take approximately one week, with drilling to commence before the tenth of October.
The first round of drilling will focus on confirmation and definition of a lens of massive galena that was accidentally discovered by the property owner, Carl Johnston during quarry development drilling. A sample of the galena from the lens was sent by DGRI to Mount Powell Laboratory in Deer Lodge, Montana for analysis. The sample consisted of massive galena with minor sphalerite and pyrite. It assayed 75 percent lead, 74.4 ounces per ton silver, 0.112 ounce per ton gold, 1.4 percent zinc and 0.129 percent copper.
Rauno Perttu, COO of DGRI, said, "The sample's assay values were impressive, and reminiscent of the high grade direct shipping ore from the Minnie Moore vein, which sometimes ran more than 100 ounces of silver per ton. While the assay was very encouraging, we don't know if it is representative of this new lens, and also don't know how large or coherent the lens is. Our initial drilling will consist of a series of shallow core holes to confirm the values and outline the tonnage and geometry of the lens. Because Mr. Johnston intersected the lens only 15 feet below the surface, we should be able to drill a series of shallow confirmation holes quickly. The shallow depth will also allow us to excavate to the top of the lens with minimal time, cost or disturbance."
When the drill has completed evaluation of the lens, DGRI plans to conduct limited drilling of a nearby area of gold mineralization on the property that was discovered by an earlier company, but was never followed up on. DGRI plans to additionally drill a second area of known surface gold mineralization and a second very shallow silver, lead zinc target. Both of these targets are also on the Minnie Moore property.
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 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, 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.
For further information, please see www.DutchGold.com or please contact Thomas Leahey, CFO of Dutch Gold Resources, Inc. at 404-419-2440.