VHGI Holdings, Inc. Announces Expansion of Sun Gold Project
FT. WORTH, Texas, March 30, 2011 /PRNewswire/ -- VHGI Holdings, Inc. (OTCQX: VHGI) and VHGI Gold, LLC, its wholly-owned operating subsidiary, announced today that VHGI Gold has increased its holdings in their Sun Gold Project located between Prescott and Mayer, AZ U.S.A. by adding 24 new claims, making the claim site over 500 acres from the previous 80 acres.
"As part of the Phase 1 plan and the initial evaluation of the area with our geologic team, we have decided to expand our existing claim group to fully cover the Sun Gold Deposit," said Mr. Eric Leonetti, Vice President / COO of VHGI Gold. Mr. Leonetti stated, "Our expansion decision was based on an extensive review of the geology, and we are confident that this will allow us to better realize the resource potential of the Sun Gold Project."
VHGI Gold will now continue the exploration of the expanded Sun Gold Project claim group, including a more complex exploration operation, which will include a geochemical study and additional drilling.
"Our team has worked hard to accomplish this expansion in a proper and well thought-out manner," said Mr. Jim Renfro, President of VHGI Gold, "and now we can concentrate on the sampling and mapping of the area."
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining Industry and intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures.
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SOURCE VHGI Holdings, Inc.