Dutch Gold Resources to Open Texas Vein
Posted on: Thursday, 3 January 2008, 15:00 CST
Dutch Gold Resources, Inc. (PINKSHEETS: DGRI) (the "Company"), a developer and operator of proven gold mines and a regional mill in North America, today announced it has completed preliminary studies to reopen the Texas Vein of its Benton Mine in Oregon.
Dan Hollis, Chief Executive Officer of Dutch Gold Resources, stated, "Our geology staff and our mining engineers spent part of the fourth quarter of 2007 analyzing the viability of reopening this previously productive vein. Their reports indicate that ore chutes are intact and that we could begin mining within three months, with some additional roadwork. This part of the Benton system has not been studied since World War II and was not part of our original plans for the next couple years. Nevertheless, following this favorable engineering review, we decided to accelerate our timetable and are excited to commence production from this vein and expect to begin recognizing incremental revenues in early 2008."
Available records indicate the Texas Vein yielded high grade ore, which historically ranged from .285oz/ton to .85 oz/ton. Internal estimates, as well historical data, indicate that there are approximately 17,500 tons of ore available in the current structure.
In other news, the Company also announced it had filed all of its Quarterly and Annual Reports with the Securities and Exchange Commission through the period ending June 30, 2006 and intends to file both its Form 10-QSB for the period ending September 30, 2006 and its Form 10-KSB for the period ending December 31, 2006 in the next several weeks.
About Dutch Gold Resources, Inc.
In January 2007, Dutch Gold Resources, Inc. acquired Dutch Mining LLC, which was founded in 1994. Dutch Gold is engaged in the mining and processing of proven gold reserves in North America. The company's strategy is to focus on overlooked resources which can be quickly and cost-efficiently brought into production. The Company currently owns two mines in Southwestern Oregon, consisting of the Benton and Gold Bug mines. Production resumed in March 2007 and the Company has begun a drilling program to prove up additional reserves and enhance future production. Please visit the Company's website for additional information at: www.dutchgoldresources.com.
Certain statements in this release, and other written or oral statements made by the company, including the use of the words "expect,""anticipate,""estimate,""project,""forecast,""outlook,""target,""objective,""plan,""goal,""pursue,""on track," and similar expressions, are "forward-looking statements" and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The company assumes no obligation and does not intend to update these forward-looking statements.
Contact: David K. Waldman Klea K. Theoharis Crescendo Communications, LLC (212) 671-1020
SOURCE: Dutch Gold Resources, Inc.
Source: MARKET WIRE
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