Dutch Gold Resources, Inc. (PL) (USOTC:DGRI)
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2 Years : From Dec 2011 to Dec 2013
Dutch Gold Resources, Inc. (OTCQB: DGRI) (PINKSHEETS: DGRI) (the "Company") is pleased to announce that it has begun analyzing bulk samples with its joint venture partner in Nicaragua. Completion of this testing will provide the data needed to determine the optimum gold and silver recovery methods for the ore currently being processed from the concession. The data will be used to determine the type of equipment that will be most effective to increase production and optimize gold recovery from the RadarNica property.
Gold recovery from the bulk samples will be tested by gravity separation, floatation and leaching methods. The test results will be used to select what recovery method or series of methods will work best for expanding, improving and modernizing gold and silver recoveries. The Company plans to increase the current production substantially, and to eliminate the use of mercury amalgamation, which is currently used for gold recovery, but creates the risk of mercury release into the environment. Mercury contamination in historic mining districts is a serious environmental problem throughout Latin America because amalgamation continues to be the primary gold recovery method used by artisanal miners. With its partner RadarNica, SA, the Company plans to expand and modernize the gold recovery at the existing test production facilities, while improving the safety of the workers.
The data produced from the tests will allow the Company to begin shipping equipment to the project, consistent with the timelines set forth in earlier guidance. The Company expects to have the new equipment and processes in place beginning July and August 2012.
"We are on schedule with the project and are pleased to take this next step, following the previously reported assay results. We had not expected to see the silver content and look to the bulk sample to give us insight into the potential silver recovery as well as the potential to enhance current gold processing," said Dan Hollis, CEO.
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 call 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.
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.
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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.
Dutch Gold Resources, Inc.