News for 'DGRI' - (Dutch Gold Resources Announces Further Results From Nicaragua Bulk Testing Data Suggests Excellent Recovery Rates)
ATLANTA, GA, Aug 07, 2012 (MARKETWIRE via COMTEX) -- Dutch Gold Resources, Inc.
(OTCQB: DGRI) (PINKSHEETS: DGRI) (the "Company") is pleased to announce today
that it has received the results from its recent bulk sample in Nicaragua. The
Company confirms that it has made an initial decision as to the optimal recovery
method for its joint venture.
Initial results of gold recovery testing conducted by Norris Lab of Norris,
Montana utilizing cyanide has yielded excellent results on ore from Dutch Gold
Resources joint venture partner in Nicaragua. Initial head assays of the oxide
ore were 0.548 ounce per ton (opt) gold and 0.33 opt silver. Calculated heads
for the ore based on actual test recoveries were 0.6 opt gold and 0.4 opt
silver. Assays of the leached ore tails were 0.012 opt gold and 0.14 opt silver,
indicating a 98 percent recovery of the gold and a 65.25 percent recovery of the
silver. Cyanide consumption for the testing was a very modest 1.5 pounds per
ton.
"These excellent results indicate that cyanide leaching of the ore will result
in very strong gold recoveries," said Dutch Gold CEO Daniel Hollis. "Based on
these results, we are reviewing the use of a vat leaching system for gold
recovery in the project. The very low cyanide consumption suggests our operating
cost will be low for such a system. We will conduct further testing, but we feel
these initial results confirm that we can use a vat leaching system very
effectively, and based on the ore grade of the sample, we anticipate a
successful project."
About Dutch Gold Resources
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 calls 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 in Nevada, and the Gold Bug Mine in Oregon
comprise the Company's current portfolio, along with its previously announced
joint venture in Nicaragua. 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. For further information, please see
www.DutchGold.com.
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 ("SEC") and other
regulatory authorities.
For further information, please sign up at www.DutchGold.com/alerts.
Cautionary Note to U.S. Investors
Dutch Gold Resources, Inc. is subject to the reporting requirements of the
Securities Exchange Act of 1934, as amended ("Exchange Act"), and applicable
Canadian securities laws, and as a result we report our mineral reserves
according to two different standards. Canadian reporting requirements for
disclosure of mineral properties are governed by National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI 43-101"). The definitions of
NI 43-101 are adopted from those given by the Canadian Institute of Mining,
Metallurgy and Petroleum. U.S. reporting requirements are governed by the SEC
Industry Guide 7 ("Guide 7"). These reporting standards have similar goals in
terms of conveying an appropriate level of confidence in the disclosures being
reported, but embody different approaches and definitions. Under Guide 7,
mineralization may not be classified as a "reserve" unless the determination has
been made that the mineralization could be economically and legally produced or
extracted at the time the reserve determination is made.
We disclose mineral reserves and mineral resources according to the definitions
set forth in NI 43-101 and modify them as appropriate to confirm to Guide 7 for
reporting in the U.S. In our Form 10-K, filed with the SEC, we use the term
"mineralized material" to describe the amount of mineralization in mineral
deposits that do not constitute "reserves" by United States standards. This is
substantially equivalent to the total measured mineral resources and indicated
mineral resources (disclosed as inclusive of reserves), which we disclose for
reporting purposes in Canada. U.S. investors are cautioned that, while the terms
"measured mineral resources," "indicated mineral resources" and "inferred
mineral resources" are recognized and required by Canadian securities laws;
rules adopted by the SEC do not recognize them. U.S. investors are also
cautioned not to assume that any measured or indicated resources will ever be
converted into Guide 7 compliant reserves.
The United States Securities and Exchange Commission limits disclosure for U.S.
reporting purposes to mineral deposits that a company can economically and
legally extract or produce. We use certain terms on this web site, such as
"reserves," "resources," "geologic resources," "proven," "probable," "measured,"
"indicated," or "inferred," which may not be consistent with the reserve
definitions established by the SEC. U.S. investors are urged to consider closely
the disclosure in our most recent Form 10-K filed with SEC. You can also review
and obtain copies of these filings from the SEC's website.
Contact:
Tom Leahey
CFO
Dutch Gold Resources, Inc.
(404) 419-2440
SOURCE: Dutch Gold Resources, Inc.
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