CARSON CITY, Nev., April 26, 2011 (GLOBE NEWSWIRE) -- Denarii Resources Inc. (OTCBB:DNRR) (Berlin:8D3) (Frankfurt:8D3), has progressed through the past few months since the middle of 2010, when a new management team was brought into play, headed by Dr. Stewart A. Jackson, a career exploration geologist. Even more recently, a new board member, Mr. Jerold Drew joined, creating a balanced three man team to direct the future growth of the Company.
The Board of Directors of Denarii are pleased to announce that they are working diligently to continue the company's objective to acquire gold properties located in North and South America that are in production or near production. The dedicated effort of the Directors and Management has helped extensively towards achieving the company's goal. In addition to evaluating the original property holding, the McNab molybdenum prospect in British Columbia, Canada, a search for gold prospects has resulted in forming the Guyanex Joint Venture with Guyanex Minerals on an attractive alluvial gold and diamond and hard rock gold prospect in Guyana, South America; and acquisition of the Bateman gold and nickel project near Thunder Bay, Ontario, Canada.
McNab Molybdenum Prospect, B.C., Canada
As precious metals are our dominant focus at the present time, offers of joint venture participation on the McNab molybdenum prospect are being entertained. This type of intrusive-related molybdenum target is also prospective for gold, silver, copper and rhenium, in addition to molybdenum. Negotiations for partnership for the further exploration and development of this property will be reported to the shareholders on a timely basis.
Guyana Gold and Diamond Property, Guyana, South America
The Guyanex Joint Venture, entered into with Guyanex Minerals Corp. of Toronto, Canada, holds three alluvial and hard rock concessions totaling 3,158 acres along the Cuyuni River near Georgetown, Guyana, South America. This region for many years is the predominant alluvial gold mining location in Guyana, with renewed activity based on the increased price of gold. Additionally, in more recent years several major bedrock gold mines have been developed. Also there are a number of properties under exploration that are being drilled and approaching the development stage within this region. It is the objective of the Joint Venture to proceed with mining of alluvial gold and diamonds, with initial work to consist of confirming the previous drill testing by a series of "banka" drill holes through the alluvial materials throughout the leases. The confirmation drilling will allow design of an efficient mining plan prior to locating the production plant facilities. An initial testing budget of $300,000 is proposed. Production is estimated to begin within 6 months with production costs of $5 million to be funded by a gold loan facility to be repaid in gold from production.
Bateman Gold and Nickel Prospect, Ontario, Canada
The Bateman project located near Kakabeka Falls, lying west of Thunder Bay, Ontario, Canada, covers a series of both gold and nickel mineralization zones within two different rock types located on a 136 claim block acquired under a purchase option.
Gold on the property lies within an outcropping ridge of conglomerate unit which overlies a complex of volcanics and ultramafics intruded by a syenite complex. The ultramafic rocks contain numerous showings of disseminated nickel and copper sulphides which have undergone limited prospecting and trenching. Gold associated with the syenite intrusive, and located within quartz vein systems within the region has been drill tested on adjacent property holdings.
Gold within the conglomerate unit on the property has been subjected to sampling, minor trenching, and some drilling with anomalous gold values obtained in various programs. Historical drilling results from two holes on the Company's property returned gold values from conglomerate cores, among them being an approximately 90 meter interval starting at surface yielding over 0.2 grams per tonne gold. This data is historical in nature, has not been confirmed by the Company, and should not be relied upon. Recent exploration on the adjoining property held by Valgold Resources Ltd returned similar anomalous gold values. Valgold, in a press release dated April 8, 2011, listed results from three holes drilled within the conglomerate unit, the best intercept being 16.5 meters grading 1.136 g/t gold from 84.5 m to 101.0 m in hole TM-11-59.
A program for the gold-bearing conglomerate will consist of mapping, resampling, and possibly some geophysics that will precede drill testing of the property to establish the optimum drill program design. The conglomerate extends for over 3000 meters in length and a few hundred meters in width and has been drill tested returning anomalous gold values over a hole depth of 90 meters on the property. It is the objective of an exploration program to determine the potential for a bulk tonnage, open pit low grade gold deposit. Mineralization occurs from the surface down to approximately 100 meters depth. A very low strip ratio may be possible for any deposit that may be delineated.
For the nickel mineralization, a program of mapping, sampling, interpretation of mineralization controls, possibly geophysical surveying, and drilling will be used to determine the possibility of a bulk tonnage low grade disseminated nickel sulphide deposit of "Mount Keith" type. Disseminated deposits of this nature have been overlooked in many areas of nickel mineralization in Canada, and this type of deposit is currently receiving attention in several other areas of the world.
It must be emphasized that there are no known mineral resources on any of the Company's properties. Furthermore there can be no assurance that any mineral resources will be located on the properties, or that if found that any such mineral resources may be economically extracted. All of the exploration targets are conceptual in nature and are based on data that has not been verified, and cannot be relied upon.
This Corporate outline and the materials contained therein have been prepared by Dr. Stewart A Jackson, a Qualified Person, for purposes of dissemination by the Company.
About Denarii Resources, Inc.
Denarii Resources Inc. is a mineral resource exploration and development company holding a 100% interest in the McNab Molybdenum property located in Southwest, British Columbia, Canada and the Bateman gold and nickel prospect near Thunder Bay,Ontario, Canada. In addition, Denarii has the Guyanex Joint Venture gold property, in Cuyuni Mining Region of Guyana, South America. Denarii is targeting properties that have the potential for early positive cash flow. Denarii is presently reviewing a number of precious metal properties that are near to, or in production, located in North, South and Latin America. Denarii, founded in 2006, is based in Carson City, Nevada.
For more information, please visit http://www.dnrrgold.com/
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Denarii Resources, Inc. please refer to its website at http://www.dnrrgold.com/