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.
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SOURCE VHGI Holdings, Inc.