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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 Signs Contract to Begin Drill Program to Upgrade and Expand Silver Resource at Cerro Las Minitas Mine in Durango, Mexico
DURANGO, Mexico--(BUSINESS WIRE)--April 24, 2006--Silver Dragon Resources Inc. (OTCBB:SDRG - News) is pleased to announce the signing of a drilling contract for a 5000 meter drill program with Major Drilling de Mexico, S.A. de C.V., one of the most respected drilling companies in Mexico. Silver Dragon (through its wholly-owned Mexican subsidiary) recently acquired Cerro Las Minitas, an operating silver mine located in Guadalupe Victoria, Durango, Mexico. (see Press Release dated March 2, 2006).
Doug Wood, Operations Manager, Mexico, commented, "We have been working on a fast track basis and we are excited to begin drilling new targets defined by analysis of information that has been obtained from geological, geophysical and drilling surveys completed to-date. We are fortunate to have retained the services of Major Drilling during this period of extremely high demand for drilling services in Mexico. Major will provide us the latest in drilling technology and seasoned drill crews to ensure that we will obtain the best possible samples of high-grade silver mineralization at Cerro Las Minitas, which will be a key factor in the economic valuation of the property. Our drill samples will be analyzed by ALS Chemex in Canada under a strict program of quality control. I expect that we will define a large addition to our current resources by drilling of new targets that are being defined by our geological team. I am hopeful that we are on-track to defining a very large silver resource at Cerro Las Minitas which our engineering team would be able to convert to mineable reserves. We plan to complete a NI 43-101 report to present an integrated analysis of our results."
"The 5000 meter drill program is scheduled to begin on May 8th. The drill program will test the extensions of known mineralization and explore a number of new targets that have been untested to date. Geological modeling is revealing that the system of high-grade chimneys and veins at Cerro Las Minitas is larger than we had anticipated. Successful tests of these new targets would result in a substantial increase in our resources at Cerro Las Mintas. Geologic modeling and field testing are showing that there is a second period of mineralization controlled by an extensive fault system that has been superimposed on the skarn system identified by previous workers. Where mineralization of the two systems coincide, grades are additive and sampling is showing some grades in excess of 500 g/ton Ag. The drill program will produce HQ core to assist us in estimating the true grades through the high-grade zones. The targeted area is characterized by a marked silver enrichment where silver values greater than 200 g/t Ag are widespread."
Cerro Las Minitas is located in Durango, Mexico within the prolific gold-silver belt of the Sierra Madre Occidental. Silver Dragon acquired the mine in March 2006.
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 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 Erbaohuo 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, 416-661-4989
info@silverdragonresources.com
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About CyberKey Corporation
CyberKey Corporation designs and markets personal storage and data management solutions. All CyberKey patent-pending solutions utilize universal serial bus (USB) and flash memory to create a plug and play solution for mobile data storage.
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