VHGI Holdings, Inc. Reports Encouraging Assay Results from Sun Gold Claim Group
FORT WORTH, Texas, July 25, 2011 /PRNewswire/ -- VHGI Holdings, Inc. (OTCQX: VHGI) and VHGI Gold LLC, its wholly-owned operating subsidiary, announced today that they obtained encouraging assay results from a sampling program that ran concurrent to the expansion of the Sun Gold claim group near Prescott, AZ.
"Within Phase 1 of our plan to explore the Sun Gold claim group we had our geologist (Mr. Peter Herrera) obtain a baseline group of surface rock-chip samples to better allow us to geochemically explore the new claims along with the original group in preparation for the initiation of an exploration drilling program," said Mr. Eric Leonetti, Vice President / COO of VHGI Gold. Mr. Leonetti stated, "We plan to make all of this data available as soon as the final analysis has been completed by Mr. Herrera."
"This sample group was sent for a chemical analysis to include trace elements that should allow for a better overall validation of the claim block," said Mr. Herrera. He added, "We did find what we believe to be a weakly mineralized rhyolite dyke within the old and new claim block that can be indicative of the existence of the precious metals that appears in the preliminary assay report." Mr. Herrera is continuing his work on this data with the assay lab and hopes to have the final data available within the next two weeks.
It has been VHGI Gold's plan to continue the exploration of the entire claim group, which will include more complex exploration operations comprised of continued surface sampling, a geochemical study and the completion of a new exploratory drilling program.
About VHGI Holdings, Inc. and VHGI Gold
VHGI Holdings 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 Holdings 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.
"Safe Harbor" Statement: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
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SOURCE VHGI Holdings, Inc.
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