Soldi Ventures Inc. Has Expanded the Drilling Program at the Golden Bullet Project, Newfoundland
December 5, 2011: Soldi Ventures Inc. (Soldi) (TSX-V symbol: SOV) reports that it has intersected sulphide-rich quartz veining sections which are prospective to host gold deposits, as well as sporadic visible gold during the drilling at the Golden Bullet Project. In particular, a four meter section of sulphide-rich quartz veined core from hole SV-11-07 contains a 35 cm length of core which carries finely disseminated gold in a number of areas. A priority rush request has been sent to the lab for the entire four meter section.
To date, nine holes have been completed and Soldi is currently drilling a tenth hole, which is a 25 meter step out from hole SV-11-06. Hole Sv-11-06 was a 25 meter step out from hole SV-11-05 which was drilled underneath the historical high grade intercept of 8.98 g/t over 10.18 meters (true thickness) at the Knob Prospect. The mineralization intercepted in both SV-11-05 and hole Sv-11-06 warranted the additional step out of hole SV-11-10. It is now thought that the quartz veining with significant amounts of sulfide, intersected in Hole SV-11-06 may be a new quartz veined system or a change in dip of the original historical high grade intercept.
A significant intercept in Hole SV-11-09 has a number of quartz veined zones and is sulphide-rich. Visual inspection revealed a half meter zone of quartz vein material with visible gold throughout. Hole SV-11-09 is 30 meters along strike from hole SV-11-07 which also has a similarly disseminated gold occurrence.
In total, nine holes have been successfully completed, with an additional 8-10 holes planned. Soldi was able to successfully amend the previous permit with the Ministry of Natural Resources in Newfoundland to allow for the additional 8-10 holes. It is expected that the majority of these holes will be completed before the Christmas shutdown.
Drilling is being conducted by Springdale Forest Resources Inc. (Diamond Drilling Division) of Springdale, NL with the intention of drilling up to 2,000 meters on the permitted Golden Bullet Project. Samples collected from the program are being analyzed at Accurassay Laboratories located in Thunder Bay, Ontario.
Focus of the Drilling Program
Drilling will test a number of high priority gold (Au) targets selected after reviewing the recently completed Induced Polarization (IP) and Gravity surveys over all of the main target areas of the Golden Bullet license, including the high grade Knob and Bullet prospects.
The drill program will include the high grade Knob Prospect, which has historical drill intercepts of up to 57.46 g/t Au over 4.30 meters and the Knob Offset vein system with drill intercepts of 8.98 g/t Au over 14.33 meters. The Bullet Extension zone, which has several high-grade grab samples and multiple drill hole intercepts ranging from 1-17 g/t Au over various intercept lengths (please review previous releases) will also be drilled.
Further ground work will be carried out in areas with historic and recently discovered high gold values where they are coincident with anomalous resistivity and chargeability targets from the IP survey. The objective is to upgrade these areas to drill targets. Two examples of this are the recently discovered Vg zone with grabs samples of up to 298.8 g/t Au along with the newly discovered Quarry zone with channel samplings of 1.51 g/t Au over 5.5 meters within 0.91 g/t Au over 31 meters.
Grab samples are selective by nature and are unlikely to represent average grades on the property.
Golden Bullet Project Overview
The two primary licenses within this project are the Golden Bullet License and the newly acquiredBoulder 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.
The two most significant historical gold showings are the grab sample of 2,130 g/t, recorded by Noranda and the 338.6g/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.
Historical Drilling at the Golden Bullet License
Notable gold intercepts from historical diamond drilling include: 57.46 g/t over 4.30 meters, 38.53 g/t over 6.45 meters, 106.2 g/t over 2.3 meters, 102.2 g/t over 0.76 meters, 32.2 g/t over 1.6 meters, 24.38 g/t over 1.83 meters and 8.98 g/t over 14.33 meters. 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.
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-V symbol: SOV) is a Canadian junior gold exploration company focused on discovering gold deposits in politically safe jurisdictions. For additional information please contact:Email:firstname.lastname@example.org Telephone: (604) 683 5445 Or visit www.soldiventuresinc.com
On behalf of the board of
SOLDI VENTURES INC.
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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.