MESA, Ariz., July 22, 2010 (GLOBE NEWSWIRE) -- B2 Digital (Pink Sheets:BTDG) is pleased to announce its Castle Creek Subsidiary has signed a letter of intent to enter into a joint venture with Firma Gold Inc. for it's Courville Gold Project in Quebec. The LOI is subject to certain conditions including due diligence by B2 Digital, negotiation of final terms and approval of the Transaction by B2 Digital's board, and other conditions customary for transactions similar in nature.
The Courville project is an open-pit gold deposit located 44 km north of Val-D'Or, Quebec, Canada, which consists of 337 claims covering a surface of 13,655 hectares or 136.5 km.
Results from an exploration program conducted between December 2003 and 2005 on the Courville property, chiefly on the Thibodeau Intrusive, indicated positive results. The exploration program consisted of geophysical prospecting, stripping, fluting, boring and a 14,000 ton bulk sampling which produced 786.75 ounces of gold at an average grade of 1.93 g/t gold.
Additional exploration confirmed the strike of a strong induced polarization geophysical anomaly, which was found along the gold deposit margin. The centre of this anomaly was successfully tested using two drill holes. The grades obtained are 0.97 g/t Au at 56 and 64 meters. A second drilling program in 2006, which consisted of a series of vertical holes in a 10 meter mesh drilled at a depth of more than 60 meters, gave a huge quantity of information leading to the mineral resource estimate.
The geologic information currently available indicates a mineralizing process at a gold grade varying from 0.5 g/t to 5 g/t and a silver grade of 15 g/t on a minimal length of 100 m from the auriferous zone.
The rock mass appears very similar in composition to the auriferous deposit host rocks found in the Val-D'Or and Malartic mining camps, located 60 and 85 km SW of the Courville property. The Courville property is in the vicinity of the Larder Lake - Cadillac deformation zone, which have produced more than 25 million ounces of gold since the early 1930's. Previous geologic and geophysical works performed on the Courville property have shown that the TIC (Thibodeau Intrusive Complex) trends in a NW-SE direction, parallel to and likely forming part of the Courville segment of the eastern end of the Destor - Porcupine deformation zone. At the other end of this deformation zone, at 300 km further west, the rock mass hosts the 75 million gold ounces from Timmins mining camp.
The gold mineralization occurs mainly as a series of five sub-horizontal quartz stock work domains, ranging from 2.5 to 7.5 meters each in width. They are located with 750 meters long by 75 meters wide by 500 meters deep segment of the TIC (the TIC staying open in depth). Gold assay results from 2,000 samples of the TIC revealed grades up to 166 g/t gold.
Castle Creek's geologist, Jim Ebisch will be the head geologist on the project and due diligence. Mr. Ebisch is a professional geologist, registered in Oregon, and with experience in preparation of 43-101 reports.
B2 Digital President, Paul LaBarre, stated, "It has always been one of our highest priorities to create maximum value for our shareholders. Creating a vehicle focused on the exploration of gold, silver, and uranium will allow us continuity of management, as well as a focus on multiple minerals in various geographic regions."
Mr. LaBarre continued, "We believe this transaction is in the best interests of our shareholders. Our acquisition of Castle Creek has provided us with the necessary personnel for a project like Courville. Once we have completed our due diligence and final negotiations with Firma we would anticipate conducting an expedited exploration program on this project with tremendous upside.
About B2 Digital
B2 Digital is a technology development company with interests in various media sectors involving the use of B2 Digital's technology development experience, which is dedicated to shareholder value through the acquisition and development of promising 21st century businesses, within the technology sector and outside of the technology sector. More information on B2 Digital can be found at http://www.b2digital.us.
About Castle Creek Silver
Castle Creek's strategy is to become a mid-tier silver producer through an aggressive acquisition and development plan focused on advanced-stage projects with known silver resources exhibiting potential for expansion. Castle Creek Silver is primarily focused on pursuing early and advanced stage silver-based opportunities in North America, South America, and Mexico. More information on Castle Creek Silver can be found at http://www.castlecreekmining.com.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with Pink Sheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and others factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.