ATLANTA, GA -- (Marketwire) -- 05/30/12 -- Dutch Gold Resources, Inc. (OTCQB: DGRI) (PINKSHEETS: DGRI) (the "Company") today announced initial assay results from its joint venture in Nicaragua.
The samples represent preliminary verification sampling of key materials by Rauno Perttu, COO of the Company. He observed the collection of sample N-1 and took the other samples himself. He maintained a chain of custody until he shipped them for assay. Mr. Perttu brought back five samples, which were prepared by the laboratory, which took and fire assayed three splits of each sample to check for variance. Only gold and silver assays were run. A brief description, with results follows:
N-1 was a sample of the ore mined by artisan miners and sold to a local processer. This represents the material that the Company would expect to be processed in the joint venture operation. The assay values were higher than the reported recoveries of 0.4 ounce per ton to 0.7 ounce per ton reported in the current amalgamation recovery operation. It is unclear whether the sample was of higher grade than normal, or whether the difference represents poor production from prior recoveries.
N-2 was a select quartz sample from the same ore stockpile. The sample suggests the gold may be preferentially carried in the altered fines, not in the vein quartz.
N-3 was a sample of fines from the venture partner's trapiche, a type of grinding mill, which was gathered by the use of a strong magnet. The strong increase in silver content may represent the presence of a magnetic silver mineral.
N-4 was a sample of the tailings from the partner's operation. It would suggest strong recoveries, but the total sample was so small, that the number could be unrealistically low.
N-5 was a sample of the ore feed pile from the partner's operation. It verified the reported ore grade of the current operations.
DGRI NICA Ag: opt Au: opt 112309 N 1 A 0.98 0.930 112310 N 1 B 1.16 1.028 112311 N 1 C 1.12 1.022 112312 N 2 A 0.76 0.156 112313 N 2 B 0.78 0.170 112314 N 2 C 0.68 0.158 112315 N 3 A 5.30 1.114 112316 N 3 B 5.36 1.074 112317 N 3 C 5.22 1.068 112318 N 4 A 0.50 0.024 112319 N 4 B 0.32 0.014 112320 N 4 C 0.52 0.016 112321 N 5 A 0.44 0.468 112322 N 5 B 0.40 0.444 112323 N 5 C 0.62 0.494
Rauno Perttu, Chief Operating Officer of DGRI, said, "We are very pleased with these preliminary results, and plan an aggressive follow-up program to achieve the Company's goals for modernizing and expanding the current operation. This data, which confirms some of the earlier data, forms the basis for our expansion strategy with our partner. We are also beginning to see a path that may allow us to profitably clean up the environmental legacy of past operations."