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Newsroom - Clients - SDRG
The following news and investment research items reflect some of the recent business activity for selected clients of Empire Relations Group, Inc. Additional information for investment research can be found in the featured clients section. News and investment research are for informational purposes only.
Silver Dragon Resources Inc
Silver Dragon Identifies 612,000 Tonne Ore Reserve Containing Ag-Pb-Zn Deposits From Initial Exploration Work at Dadi, China
BEIJING, CHINA--(MARKET WIRE)--Jan 24, 2007 -- Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) is pleased to announce the identification of 612,000 tonnes of industrial grade Ag-Pb-Zn deposits from initial exploration work at Dadi at the Sino-Top projects in the Erbahuo Silver District in Northern China.
Dadi is one of the nine properties of Sanhe Sino-Top Resources and Technologies Ltd. ("Sino-Top"), a Chinese company which holds the exclusive exploration and mining rights to nine properties including a silver mine located in the prolific Erbahuo Silver District in Inner Mongolia, China. Silver Dragon has a 60% ownership interest in Sino-Top.
The Dadi exploration area, covering 12.48 square kilometers, is located in Chifeng, Inner Mongolia. Mineralization anomalies of tin, copper, silver, lead and zinc have been found in different zones covering a total area of 2.5 square kilometers. The initial exploration work in 2006, which included a small-scale trenching project combined with geophysical and geochemical exploration, has revealed five Ag-Pb-Zn ore bodies on the surface within a one-square-kilometer area. Calculations based on the recent assay results have identified an industrial grade ore reserve of 612,000 tonnes, containing 47.59 tonnes of silver with an average grade of 77.76 g/t and a total of 6,000 tonnes of lead (0.76%) and zinc (0.46%). The resource calculations are compliant with China's national standards 334 for prospective resource.
Assay Results from the Trenching Project at Dadi
Ore Position Assay Results
Body Trench Sample From To Length
(m) (m) (m) Ag(g/t) Pb(%) Zn(%) Cu(%)
V TC5 DP019 23.9 24.9 1.0 168.0 6.62 0.77
DP020 24.9 25.9 1.0 15.2 0.10 0.14
IV TC7 DP026 3.4 4.3 0.9 182.0 2.52 0.27 0.04
DP027 4.3 5.1 0.8 48.8 0.98 0.32
III DP033 9.4 10.2 0.8 50.8 0.42 0.14
DP034 10.2 11.1 0.9 216.0 1.52 0.24
DP035 11.1 11.9 0.8 123.0 0.77 0.16 0.01
DP036 11.9 12.8 0.9 31.0 0.28 0.12
DP037 12.8 13.6 0.8 30.6 0.28 0.11
DP038 13.6 14.5 0.9 102.0 0.35 0.22
DP039 14.5 15.3 0.8 63.6 0.11 0.48
DP040 15.3 16.2 0.9 80.6 0.48 0.22
DP041 16.2 17.0 0.8 14.6 0.17 0.14
II DP042 17.0 17.8 0.8 54.0 0.50 0.18
DP047 21.2 22.1 0.9 78.6 0.32 0.38
DP048 22.1 22.9 0.8 26.8 0.11 0.38
I TC9 DP063 19.1 20.0 0.9 15.9 0.38 0.16
DP064 20.0 20.9 0.9 77.4 1.19 0.70
Weighted Average (Composite) Assay Values for the Five Ore bodies
Ore Body Horizontal
Thickness (m) Ag (g/t) Pb (%) Zn (%)
V 2 91.7 3.36 0.46
IV 1.7 119.3 1.80 0.30
III 8.4 78.1 0.50 0.20
II 1.7 49.09 0.22 0.38
I 1.8 46.65 0.78 0.43
Table of Resource Calculations
Ore Dimension (m) Average Grade Ore Metal (tonne)
Body L. W. D. Ag Pb Zn (1,000 Ag Pb Zn
(g/t) (%) (%) tonnes)
I 100 1.8 50 46.65 0,78 0.43 27 1.26 210.6 116.1
II 100 1.7 50 46.09 0.22 0.38 25.5 1.18 56.1 96.9
III 200 8.4 100 78.1 0.57 0.20 504 39.36 2872.8 1008.0
IV 100 1.7 50 119.3 1.80 0.29 25.5 3.04 459.0 74.0
V 100 2.0 50 91.7 3.36 0.46 3 2.75 1008.0 138.0
Total 77.76 0.75 0.23 612 47.59 4606.5 1433.0
Interpretation of Exploration Results
Calculations based on currently available data reveal an ore reserve of 612,000 tonnes, with the metal content being 47.59t silver, 4,606.5t lead and 1,433t zinc. Analyses of the ore bodies in the area, which is a typical volcanic sediment area containing strata-bound mineral deposits, have led to the speculation that the actual ore and metal resources may be at least double the current findings.
"Our achievement at Dadi in 2006 was very impressive considering the fact that our initial exploration project was limited to a small surface area. In 2007, we intend to intensify our exploration effort at this property to further define the extensions of the Ag-Pb-Zn ore bodies," stated Mr. Yang Guofu, Sino-Top's Chief Geologist.
CAUTIONARY NOTE TO U.S. INVESTORS
The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," and "inferred," that the SEC guidelines strictly prohibit us from including in our filing with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 000-29657. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.
About Silver Dragon
Silver Dragon Resources Inc. is a mining and metal company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, have highly leveraged, out-of-the-money silver deposits, and/or are producing properties with significant untapped exploration potential. It is management's objective to grow Silver Dragon into a significant silver producer by developing the Cerro las Minitas and the Erbahuo projects in Mexico and China. For more information, please visit the Company's website at: www.silverdragonresources.com (now available in Chinese).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Silver Dragon Resources Inc.
Marc Hazout
(647) 286-8587
info@silverdragonresources.com
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About Silver Dragon Resources Inc.
Based in Canada and publicly traded on the OTCBB, we are focused
on the exploration, acquisition, development and the operation of
silver mines throughout the world. The properties are located in
proven silver districts of Mexico and China.
To link to this corporate profile in our members area click here (You must be a registered member to see profile).
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