ATLANTA, July 15, 2010 (GLOBE NEWSWIRE) -- http://www.dutchgoldresources.com/">Dutch Gold Resources, Inc. (Pink Sheets:DGRI) today announced favorable assay results from its completed 2010 trenching program at its Jungo Project located in Humboldt Country, Nevada. The property lies halfway between Allied Nevada's producing multi-million ounce Hycroft gold mine and the historically rich Sleeper Mine.
"We are very encouraged by the favorable results of the trenching program at our Jungo Project," said Rauno Perttu, COO and Chief Geological Officer. "Based on the information that we have developed from the trenching program, we plan to begin drilling selected angled core holes deeper into the system to further determine the geometry of the gold and silver system. The results of the completed reinforce our belief that the trenches exposed the southwestern top of a potentially strong gold system that could contain high-grade veins at depth, and could also contain a significant potential for open-pit gold mineralization. We expect to complete the drilling program in the third quarter."
"Proving up the Jungo Project is an important step toward monetizing low-risk assets, in what we believe to be a well established gold producing environment. This is consistent with our stated strategy to find and develop projects with potential high-value," said Daniel Hollis, CEO.
Jungo Project Trenching Programs
2007 Trenching Program
In an earlier program conducted in 2007, two shallow trenches were dug to expose bedrock within an attractive geological setting where limited surface "float" rock samples assayed as high as 0.66 opt gold and 3.85 opt silver. The northern 2007 trench intersected twenty feet of 0.039 opt gold and 0.5 opt silver within very silicic shallow igneous rocks in an apparent volcanic vent. The second trench contained 130 feet of rock assaying better than 0.1 ppm gold.
2010 Trenching Program
The 2010 Trench JTP-3 was sited 1020 feet north of the northern 2007 trench and was dug in an easterly down-slope orientation to cut across the base of the eastern hillside of the Jackson Mountains. Trench JTP-3 exposed altered Pretertiary metasedimentary and metaigneous rocks that have been locally intruded by younger sialic shallow igneous rocks. All of the rocks have been fundamentally shattered and sheared, with the appearance of volcanic venting. Trench JTP-3 exposed the apparent continuation of the silicic gold-bearing volcanic vent rocks that were seen in the northern 2007 trench. The interval from 140 feet to 270 feet in Trench JTP-3 had the appearance of a volcanic vent zone, with erratic blocks of altered older metamorphic rocks mixed with and locally dominated by younger highly silicic gassy volcanics. The zone is gold bearing. The trench interval from 200 to 210 feet assayed 0.048 opt gold and 0.5 opt silver. The interval from 240 to 250 feet contained 0.076 opt gold and 2.6 ounces silver. The adjacent interval from 250 to 260 feet assayed 0.017 opt gold and a half-ounce silver.
The eastern margin of trench JTP-2, located 400 feet north of Trench JTP-3, averaged 0.028 opt gold and 0.67 opt silver from 10 to 60 feet. Within this zone, the interval from 50 to 60 foot assayed 0.087 opt gold and .71 opt silver.
Trench JTP-1, located 400 feet to the north of JTP-2, contained measurable gold, up to 0.007 opt with 0.7 opt silver. This trench may have been located west of the projected gold zone, however alluvial cover at the projection of the gold zone was too deep to reach bedrock by trenching.
All of the trenches contained evidence of abundant oxidized sulfides, shearing and silicification. Trench JTP-3, from 210 to 240 feet, contained locally visible copper oxides. The copper oxides are interpreted to be associated with an older period of mineralization, suggesting at least two distinct periods of mineralization.
The trenches appear to be near the southwestern end of a Tertiary volcanic mineralization event, although outcrop samples containing up to 0.1 opt gold were taken in strongly oxidized shattered metamorphic rocks several hundred feet to the south of the 2007 trenching, suggesting the mineralization may continue in both northeast and southwest directions.
Many of the 2007 and 2010 trench intervals were anomalous in gold and silver over a much broader width than the reported values. The geology suggests to Dutch Gold Resources that the property may have multiple gold zones downhill and to the northeast, that are hidden under colluvial cover. The geology of the trenches also suggests that the trenches exposed the lower temperature top of a gold system that could be substantially stronger deeper in the system.
About Dutch Gold Resources
Dutch Gold Resources, Inc. is engaged in the production and development of gold reserves 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, 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. For additional information about the company, please visit http://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 and other regulatory authorities.