Soldi Ventures Inc.

Soldi Ventures Inc.

April 10, 2012 09:00 ET

Soldi Ventures Inc. Summarizes Results From the Winter Drill Programs at the Golden Bullet Project, Newfoundland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 10, 2012) - Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) is pleased to summarize the assay results and provide a summary report for the winter 2011 and winter 2012 drilling programs on its Golden Bullet project in central Newfoundland. Soldi completed 15 diamond drill holes during the 2011 drill program, and an additional 8 diamond drill holes early in 2012 for a total of 2,688 metres (see press releases dated December 5th 2011, January 18th 2012, January 24th 2012, February 9th 2012, and February 14th 2012). The drilling was successful with the identification of multiple zones of visually significant gold mineralization. All holes intercepted some level of anomalous gold but only the most significant results have been provided in Tables 1 and 2.

Soldi would like to announce new results from the most significant previously unannounced holes which are SV-11-12, SV-11-13, SV-12-01, SV-12-02, and SV-12-07.

SV-11-12 was drilled approximately 90-100 metres 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. The intercept near the visible gold was 28.98g/t gold over 0.50 metres as determined by the metallic assaying technique found within an interval grading 1.23 g/t gold over 17.85 metres (refer to Table 1).

SV-11-13 was drilled 50 meters south of Hole SV-11-07 to test the high grade grab samples (2130 g/t gold) taken in the historical work conducted by Noranda. This hole intersected visible gold at the 30 metre mark within a zone of 6.01 g/t gold over 3.55 metres, including 8.44 g/t over 2.45 metres, 13.75 g/t gold over 1.25 metres, and 19.99 g/t gold over 0.60 metres (refer to Table 1).

The most notable newly released intercepts from the 2012 program came from SV-12-01, SV-12-02, and SV-12-07 providing essential information for the next drill program (Refer to Table 2). In particular, SV-12-01 intersected 8.49 g/t gold over 0.50 metres. This intercept is included in a section grading 0.65g/t gold over 9.85 metres.

Throughout the drill programs it was noted that there was a measurable amount of coarse free gold in a large percentage of holes. Due to the coarse free gold observed in various core samples, management felt that to adequately reflect the actual gold concentration in the core an additional assaying technique would be implemented. Therefore, in conjunction with the Standard Fire assaying technique normally implemented, metallic assaying was also used in some cases to determine gold concentrations over the most notable intercepts.

Some of the most significant previously announced values of the entire program were discovered in Hole SV-11-06. Using the latest metallic assaying techniques, for the high grade section in Hole SV-11-06, Soldi intersected 62.99 g/t gold (2.02 ounces/ton) over 0.70 metres. This intercept is included in a section grading 43.51g/t gold (1.40 ounces/ton) over 1.10 metres, which is within a section grading 23.73g/t gold (0.76 ounces/ton) over 2.15 metres, all within a larger 5.4 metre intercept that graded 9.80g/t gold(0.31 ounces/ton).

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 gold over 0.80 metres and 18.23g/t gold over 0.50 metres within an interval grading 5.55 g/t gold over 5.3 metres, within an interval grading 1.984 g/t gold over 17.15 metres, all within a very broad zone of 1.322 g/t gold over 32.2 metres.

Hole SV-11-09 was collared 25 metres along strike from Hole SV-11-07 and host a wide intercept of 3.44 g/t gold over 5.50 metres. Significant assay results from Hole SV-11-09 included intervals of 7.85 g/t gold over 1.80 metres, 9.3 g/t gold over 0.4 metres, and 7.6 g/t gold over 0.50 metres (within a broader zone of 3.44 g/t gold over 5.5 metres). Other notable intercepts throughout Hole SV-11-09 suggest a large mineralizing event. Of particular interest is the intercept of 1.632 g/t gold over 1.0 metre, located at the 46.5 metre mark of Hole SV-11-09. This section contained coarse visible gold but only returned very modest assay results. It appears that the Knob zone is very susceptible to a coarse gold effect which will prove to be a challenge in determining actual grades.

Drill Hole SV-11-08 was drilled directly underneath (15 metre step back) the historical higher grade intercept of 57.46 g/t gold over 4.30 metres previously announced. The best assay result from Hole SV-11-08 is 0.55 g/t gold over 4.1 metres. It would appear that the veins blend in and out of high and low grade throughout the area.

Further drilling will be required to determine the true width of the zones. See Table 1 below for the intercepts (new drill results are in bold).

Table 1. Assay results from the Winter 2011 Drill Program

Drill Hole Easting Northing Azimuth Dip From
S. Fire
SV-11-06 657112 5425580 200 -45 13.75 18.50 4.75 0.81 92
Incl. 13.75 17.00 3.25 1.03
25.30 28.30 3.00 1.12
39.20 44.60 5.40 7.22 9.80
Incl. 39.20 42.35 3.15 12.03 16.20
Incl. 39.20 41.35 2.15 17.36 23.73
Incl. 39.20 40.30 1.10 31.85 43.51
Incl. 39.60 40.30 0.70 45.75 62.99
SV-11-07 657076 5425572 180 -45 42.50 76.00 33.50 1.27 83
Incl. 42.50 74.70 32.20 1.32
Incl. 58.85 76.00 17.15 1.98
Incl. 58.85 64.20 5.35 5.55
Incl. 59.20 59.70 0.50 18.23 34.70
Incl. 61.85 62.65 0.80 20.24 22.80
SV-11-08 657064 5425581 180 -45 50.60 54.70 4.10 0.55 0.97 90
Incl. 54.30 54.70 0.40 3.97 6.47
SV-11-09 657050 5425571 180 -45 10.00 15.50 5.50 3.02 3.44 85
Incl. 13.00 14.50 1.50 6.60 7.85
Incl. 13.00 13.50 0.50 9.23 11.65
Incl. 14.10 14.50 0.40 7.71 9.30
34.70 39.70 5.00 1.33
Incl. 34.70 37.00 2.30 1.37
Incl. lost core 1.50 NA
Incl. 38.50 39.70 1.20 2.91
43.60 44.10 0.50 7.56
46.50 47.45 0.95 1.63
SV-11-12 657054 5425713 170 -50 149.15 167.00 17.85 0.79 1.23 201
Incl. 150.15 151.80 1.65 5.31 10.27
Incl. 150.65 151.15 0.50 10.75 28.98
178.90 182.00 3.10 0.59 0.59
186.00 190.00 4.00 0.46 0.46
SV-11-13 657128 545545 230 -45 27.45 31.00 3.55 6.01 4.38 83
Incl. 28.55 31.00 2.45 8.44 4.21
Incl. 29.05 30.30 1.25 13.75 8.16
Incl. 29.70 30.30 0.60 19.99 8.17

Analyses for all assaying techniques from the 2011 drill program were performed by Accurassay Laboratories Ltd. out of Ontario, Canada, and by Eastern Analytical from Springdale, Newfoundland.

The 2012 winter drill program used IP selected targets and other target selections derived from the 2011 program in order to test the strike and depth extension of the altered unit in the immediate area of drill hole SV-11-12 and to test other similar targets. Primarily, the other targets were 400-500 metres to the west near the Letha and Grouse prospects. The most significant results came from Hole SV-12-04. Hole SV-12-04 was drilled to test the extension of a historical high grade intercept of 57.46 g/t gold over 4.30 metres previously disclosed as the Knob showing. Hole SV-12-04 was planned to intercept the target depth approximately 15 metres south of the historical intercept.

Assay results for the high grade section in Hole SV-12-04 include 93.96 g/t gold (3.02 ounces/ton) over 0.85 metres. This intercept is included in a section grading 62.67g/t gold (2.02 ounces/ton) over 1.30 metres, which is within a section grading 41.70g/t gold (1.34 ounces/ton) over 2.00 metres, all within a larger 7.10 metre intercept that graded 12.40g/t gold(0.40 ounces/ton). The true width of the zone is unknown. Further drilling will be required to determine the true width of the zone.

The true width of the zone is unknown. Further drilling will be required to determine the true width. See Table 2 below for the intercepts from the 2012 drill program (new drill results are in bold).

Table 2. Assay results from the Winter 2012 Drill Program

Drill Hole Easting Northing Azimuth Dip From
S. Fire
Total Depth
SV-12-01 657095 5425765 170 -50 118.50 128.35 9.85 0.65 305
Incl. 118.50 119.00 0.50 8.49 3.2
194.00 194.60 0.60 1.06
204.00 205.60 1.60 1.00
SV-12-02 657054 5425713 170 -50 179.05 182.25 3.20 0.74 242
Incl. 179.05 180.40 1.15 1.24
SV-12-04 657071 5425564 180 -45 35.55 42.65 7.10 12.40 11.03 74
Incl. 35.55 41.70 6.15 14.18 12.71
36.15 41.70 5.55 15.62 13.99
37.35 41.70 4.35 19.62 17.61
39.20 41.70 2.50 33.33 29.64
39.70 41.70 2.00 41.43 37.10
39.70 41.00 1.30 62.67 56.36
39.70 40.55 0.85 93.96 84.41
SV-12-07 657103 5425588 200 -45 4.90 8.15 3.25 0.86 92
7.00 8.15 1.15 1.86
39.00 63.85 24.85 0.20

Analyses for all assaying techniques from the 2012 drill program were performed by Eastern Analytical in Springdale, Newfoundland.


Although results of both programs are being further evaluated, some tentative conclusions can now be made.

High grade gold within the visible gold bearing quartz vein system of the main Knob prospect has been extended an additional 100 metres to the north and to 150 metres in depth. The vein system has also been extended an additional 25 metres to the south where it is thought to be faulted off. The zone is now shown to be a minimum of 200 metres in length and remains open to the north to the east and at depth.

An additional high grade visible gold bearing quartz vein system has been discovered in Hole SV-11-06 (62.99 g/t Au /0.70 metre within 9.80 g/t Au /5.4 metre). Further work is required to determine the nature of this new discovery.

Drilling of one hole on an IP target 450 metres to the west of the main Knob prospect and another hole on an IP target 400 metres east of the prospect has extended the favourable stratigraphy for an additional kilometer. More refined geophysics will be needed to identify additional areas of mineralization within this stratigraphy.

Overall, the results of the program confirm the presence of widespread, anomalous to high grade gold values throughout the property. With this comes the very real possibility of future high grade gold discoveries. This potential can be further substantiated by the surprising new discovery of the additional high grade gold bearing vein system in Hole SV-11-06 and additional visible gold bearing veins in holes SV-11-07, SV-11-09, SV-11-12, Sv-11-13, SV-12-01 and SV-12-04.

Additionally the necessity of further refinement of future geophysical surveys has been realized. This would necessitate the spacing interval to be narrowed from the present 50 metres to 25 metres. The 50 metre spacing of the original IP program provides good definition of the favourable stratigraphy that is host to the gold mineralization but does not provide the definition necessary to outline and define specific areas of mineralization within the stratigraphy. Future IP programs will take these recommendations into consideration in order to better define future drilling locations.

To help establish the orientation of the very complex vein systems and thus aid in future drilling, 3D imaging of all drilling to the present day appears to be necessary. This would better define the strike, orientation and extent of the known veining. Alternately a small, open pit, bulk sample of 500-1000 tons could be taken. This would better expose the vein systems, provide a more reliable grade for the deposit and exhibit a more reliable overview of the presently outlined mineralization.

Future programs will consider all of these options. Equally, any future programs will attempt to further extend the project an additional 320 metres west, which will encompass the highly significant Grouse prospects which has seen only minimal drilling. Time constraints in the permitting process did not allow work to be conducted on this prospect during this drill program.

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.

Historical Drilling at the Golden Bullet License

The two most significant historical gold showings are the grab sample of 2,130 g/t gold, 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 gold over 4.30 metres, 38.53 g/t gold over 6.45 metres, 106.2 g/t gold over 2.3 metres, 102.2 g/t gold over 0.76 metres, 32.2 g/t gold over 1.6 metres, 24.38 g/t gold over 1.83 metres and 8.98 g/t gold over 14.33 metres. 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.

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Soldi Ventures Inc. (TSX VENTURE:SOV) is a Canadian junior exploration company focused on discovering gold and graphite deposits in politically safe jurisdictions.

On behalf of the board of SOLDI VENTURES INC.

Charles Desjardins, President

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.

"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."

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