Valgold Resources ltd.

Published : March 17th, 2008

Discovers New Copper/Nickel/Platinum/Palladium Target In Guyana

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Monday, March 17, 2008www.valgold.com
Ticker Symbol: VAL - TSX Venture Exchange
SEC 12g3-2(b) exemption 82-3339

Valgold Discovers New Copper/Nickel/Platinum/palladium
Target In Guyana

Vancouver, March 17, 2008, ValGold Resources Ltd. ("ValGold") is pleased to announce that it has discovered a new Copper/Nickel/Platinum Group Elements target in western Guyana. The area of interest is referred to as the Masawaki area and was discovered during a soil sampling program originally conducted to follow-up anomalous gold values in stream silts and pan concentrates. The Masawaki area is covered by a Prospecting License with a surface area of approximately 50 km2 under application to the Guyana Geological and Mining Corporation.

Soil samples were collected along lines spaced 400 meters ("m") apart over a grid that was cut over an area measuring 3,000m x 6,000m. All of the samples were analyzed for 53 elements including most base and precious metals. Maximum values for some of the elements include 51 parts per billion ("ppb") platinum, 521 ppb palladium, 953 ppb gold, 957 parts per million ("ppm") nickel and 2,070 ppm chromium. About 10% of the sample results are still pending.

The platinum anomalies occur in at least five, parallel, northwest/southeast striking belts and range in width from about 100m to 300m. These belts are almost equally spaced across the entire 6,000m width of the grid. Anomalous palladium values are less well defined but show weak to strong correlation with those for platinum. Nickel and chromium anomalies are concentrated mostly in single belt with a maximum width of roughly 850m and may correlate with palladium and gold. Several other elements are anomalous in the Masawaki soils including those in Sample 551, for example, which contained 310 ppm Cu, 363 ppm Ni, 63 ppm Co, 22.2 % Fe, 2,063 ppm Cr, 0.23 % Ti, 311 ppb Pd and 10 ppb Pt.

The geology of the Masawaki area is poorly understood but it does fall within the Guiana Shield and is mostly likely underlain by rocks of Lower Proterozoic age. Little or no ground mapping has taken place in the area and ValGold is the first ever to cover the area by geochemical surveys. The soil geochemistry and digital topography suggest that the area is potentially underlain by a large, layered, mafic/ultramafic sequence striking northwest/southeast. Also evident on the digital topography is a dyke or sill which stands out as a prominent ridge. This feature parallels the layering in some areas and cross-cuts it in others, and is probably mafic in composition. Layering in the rocks is difficult to see in the aeromagnetic data but several regional scale faults are evident striking parallel to the layering of the intrusion(s). Layered mafic/ultramafic intrusions are known to exist elsewhere in the Guiana Shield particularly in Venezuela.

The Masawaki soil anomalies represent an exciting new target for copper, nickel, platinum and palladium, and potentially other metals in Guyana. The area has seen no ground exploration and the target area is significant, covering many square kilometers. In the coming months ValGold intends to follow-up the soil anomalies with infill soil sampling, reconnaissance scale mapping and rock chip sampling. The grid will also have to be expanded to close off a number of the anomalous belts which extend off the grid. This work will be carried out as quickly as possible in order to define drill targets.

Mr. Tom Pollock, P.Geo., ValGold's Vice-President, Exploration, is the Qualified Person for the project, and is responsible for all of the technical reporting in compliance with NI 43-101. Mr. Pollock has instituted and is responsible for ValGold's program of Quality Control and Assurance ("QC/QA"), using assay control samples and duplicates.

For more information on ValGold and its portfolio of international projects, visit our website at www.valgold.com.


 
Data and Statistics for these countries : Venezuela | All
Gold and Silver Prices for these countries : Venezuela | All

Valgold Resources ltd.

EXPLORATION STAGE
CODE : VAL.V
ISIN : CA9191472070
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Valgold Res. is a gold exploration company based in Canada.

Valgold Res. holds various exploration projects in Canada.

Its main exploration properties are TOWER MOUNTAIN, GARRISON and GARRISON - JONPOL / MONETA in Canada.

Valgold Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 4.8 millions as of today (US$ 3.7 millions, € 3.1 millions).

Its stock quote reached its highest recent level on June 06, 1997 at CA$ 9.50, and its lowest recent point on March 04, 2016 at CA$ 0.01.

Valgold Res. has 38 250 407 shares outstanding.

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Financings of Valgold Resources ltd.
5/4/2011Completes Non-Brokered Private Placement Financing
4/28/2011Announces Increase in Non-Brokered Financing
4/13/2011Reports $1.8 Million Non-Brokered Financing
7/25/2008Completes Non-Brokered Private Placement Financing
6/26/2008Announces Non-Brokered Private Placement Financing
Option Grants of Valgold Resources ltd.
4/8/2011(angl) Grant of 50,000 options to IR provider
5/14/2010Grants Stock Options and Reprices Consolidated Options
Nominations of Valgold Resources ltd.
1/16/2015Announces Appointment of New Director and Director Resignati...
6/22/2012Announces New Directors
Project news of Valgold Resources ltd.
1/23/2013(Tower Mountain)Revises Agreement on Tower Mountain Gold Property, Ontario
9/19/2012(Tower Mountain)and Revolver Enter Option Agreement to Advance Tower Mountai...
10/12/2011Releases MBK Project Media Coverage
9/22/2011to Acquire Past Producing Gold-Silver Mine and Surrounding R...
8/16/2011in Negotiations for a Property Acquisition in Central Europe
5/27/2011(Tower Mountain)Commences Phase 2 Drill Program on Tower Mountain Gold Prope...
5/16/2011(Garrison)and Northern Gold Close Garrison Property Sale
5/12/2011(Tower Mountain)Reports Further Assay Results from the Tower Mountain Gold P...
4/8/2011(Tower Mountain)Reports First Results of 2011 Drill Program on the Tower Mou...
4/7/2011(Garrison)Northern Gold and Valgold Announce Agreement to Consolidate ...
3/31/2011(Garrison)Reports Six Additional Drill Holes for Garrison Gold Project...
3/1/2011(Garrison)Reports Strong Wide Intersections At Garrison Gold Project, ...
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2/22/2011(Garrison)Reports Further Infill Drill Results at Garrison Gold Projec...
3/5/2010(Garrison)Reports Final Results Of 2009 Drilling On Garrison Project, ...
2/23/2010(Garrison)Reports Additional Drill Results For The Garrcon Area, Garri...
1/29/2010(Garrison)& Northern Gold Issue Update on Drilling on Garrison Project...
9/15/2009(Garrison - Jonpol / Moneta)& Northern Gold Sign Option Agreement On Garrison Gold Prope...
8/25/2008(Tower Mountain)Completes Acquisition of Tower Mountain Property
5/21/2008(Garrison - Jonpol / Moneta) Files Technical Report For Its Garrison Gold Property, Onta...
4/8/2008(Garrison - Jonpol / Moneta) Reports Initial Resource Estimate For Its Garrison Gold Pro...
3/19/2008(Los Patos) Receives Positive Initial Gold Mineral Resource Estimate Fo...
Corporate news of Valgold Resources ltd.
1/16/2015ValGold Announces Appointment of New Director and Director R...
12/4/2014ValGold closes secured convertible financing
11/12/2014ValGold Arranges Non-Brokered Secured Convertible Financing
7/24/2013Announces Annual General & Special Meeting Results
6/5/2013Provides Update And Announces Advance Notice Policy
9/24/2012Grants Stock Options
8/7/2012has Relocated!
1/26/2012Raises Funds for Ukraine Venture from Partial Disposal of No...
11/30/2011Launches its New Corporate Website
7/25/2011(Tower Mountain)Announces Additional Positive Drill Results from the Tower M...
6/22/2011(Tower Mountain)Announces Further Positive Drill Results from the Tower Moun...
4/8/2011Reports On Annual General Meeting; Appointment Of Investor R...
4/22/2010Shareholder Update April 2010
4/13/2010Completes Oversubscribed Financing
3/3/2010Completes Restructuring And Subscription Receipts Offering
2/4/2010Reports On Annual And Special Meeting
1/28/2009Status Report
1/7/2009Default Status Report
5/28/2008for our Shareholder's and Supporters
3/31/2008Defines Gold Targets In NW Guyana
3/17/2008 Discovers New Copper/Nickel/Platinum/Palladium Target In Gu...
1/9/2008 Hiring
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