DGRI Dutch Gold Resources, Inc. featured news, full reports, and detailed charts
Dutch Gold Resources, Inc. (DGRI/DGRI.PK) Wrap Up:
Dutch Gold Resources, Inc. engages in the mining and processing of gold reserves in North America. It owns interest in two mines in southwestern Oregon, which include the Benton mine consisting of 24 gold mining claims covering 480 acres; and the Gold Bug mine covering 110 acres with 5.5 patented claims. The company was founded in 1994 and is based in Atlanta, Georgia.Dutch Gold Resources, Inc. (DGRI:OTC)
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Key developments for Dutch Gold Resources, Inc. (DGRI)
Dutch Gold Resources Inc. outlined its near term plans for the initial development of the Montana and Nevada projects of the Aultra Gold Inc. transaction. After the closing in September of the Aultra Gold transaction, the company expects to commence a bulk sampling program at the Basin Gulch project upon regulatory approval. The company expects to receive the NI 43-101 compliant reserve report within the next three weeks and believe that it will be instructional as to additional drilling targets. The most exciting target on the property is a nested diatreme complex (overlapping volcanic breccia pipes) that extends over a minimal area of 2,600 feet by 3,300 feet. This diatreme complex has not been drilled to depth, and may contain high-grade gold and silver mineralization in a deeper 'boiling zone.' The diatreme complex is characterized by overall low-grade gold and silver mineralization and local high-grade mineralization. Nearby shallow much smaller diatreme zones appear to be adjacent outliers to the main diatreme complex. These outliers are associated with an inferred controlling fault zone that may also be an important control for the main diatreme and for some of the inferred veins. Two of these smaller diatreme in the fault zone appear to contain near-surface 'boiling zones,' and contain high-grade gold and silver mineralization that appears to have been associated with a boiling zone.
Dutch Gold Resources, Inc. on August 17, 2009 updated shareholders on recent progress towards executing its previously announced four step strategy focused on increasing shareholder value. Daniel Hollis, CEO of Dutch Gold Resources, said: “We continue to make progress on the acquisition front as well as the expansion of our current asset base. We expect our previously commissioned NI 43-101 will be ready for release prior to Labor Day and we have made positive progress towards the closing of the Aultra Gold, Inc. transaction. In addition, we have recently concluded due diligence on several Nevada properties. We anticipate concluding additional property acquisitions this quarter.” “We continue to work diligently with the Aultra Gold management team in anticipation of the consummation of our previously announced combination. Together we intend to file an Information Statement with the Securities Exchange Commission this month in anticipation of shareholder approval. The transaction, scheduled to close in mid-September, is expected allow the combined company to trade on the Over the Counter Bulletin Board (OTCBB),” he added.
Dutch Gold Resources Inc announced that it is commencing a four step plan for expansion of its assets and operations with the goal of becoming a recognized participant in the intermediate gold miner sector. Mr. Hollis, executive of the company said: "The plan couples growth from acquisition, with specific actions to enhance its internal growth, through increased production of existing properties, and further exploration. Its first step is to close its announced merger with Aultra Gold, Inc. in July 2009. Secondly, we have identified two (2) additional acquisitions, and are already involved in field review of those properties. All of these acquisitions meet the specifications defined in the plan details, and are all domestic, within the continental US, eliminating risk from political uncertainties.”
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