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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 Begins Drill Program to Define and Expand Silver Resource at the Cerros Las Minitas Project, Mexico
DURANGO, MEXICO--(MARKET WIRE)--May 16, 2006 -- Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) is pleased to announce the commencement of a drilling program with Major Drilling de Mexico, to drill a minimum of 5000 meters of core at its Cerros las Minitas Project in Durango, Mexico.
Doug Wood, Manager of Operations in Mexico stated, "We are excited to begin drill testing the Cerros Las Minitas silver deposits. No comprehensive exploration of this rich silver district has been done before and our ongoing exploration program shows that Silver Dragon will be the first to define and realize the tremendous potential of the newly consolidated district. Silver Dragon is the first company to consolidate the Cerro Las Minitas concessions. The company's district-wide approach to resource definition and consolidation is the first step to realizing the high-grade silver production potential at Cerro Las Minitas."
To date, exploration has defined 4 large, massive-sulfide chimneys in the highly productive Cuesta del Cura limestone, one of the most prolific silver host formations in all of Mexico. The massive-sulfide chimneys attain widths in excess of 30 meters and are known to extend to at least 350 meters below surface. All are presently open at depth as the full vertical extent of these bodies is not known. The chimneys are linked by a series of parallel Ag-Pb-Zn veins which yield silver values from 200 - 450 g/ton Ag over widths of 1 - 2 meters, with assays as high as 2.2 kg/ton Ag. Sampling of the accessible parts of the massive-sulphide chimneys is underway and is returning values in the 200m - 500 g/ton range, with some assays in excess of 1 kg/ton Ag. Exploration has shown that the chimneys are structurally controlled and has identified a number of untested structural intersections on the property. We are confident that testing of these targets will reveal a number of previously unknown massive-sulfide chimneys and increase resources at Cerro Las Minitas substantially.
The first holes in this Phase 1 drill program are planned to test depth and grade projections in the Puro Corazón massive-sulfide chimney, which is only one of several high-grade chimneys that Silver Dragon has now identified at Cerros las Minitas. Phase 1 drilling will also test depth and grade projections of other known chimneys and test structural targets that are believed to host additional, as yet undiscovered, high grade chimneys. Drill intercepts and ongoing sampling of accessible workings will be used to calculate reliable resource estimates as the program proceeds.
Ongoing Trenching Program
Three deep trenches are being excavated to explore the recently identified El Sol zone, which is parallel to and south of the Puro Corazón trend. Overburden in the trench area has been found to be thicker than anticipated and new equipment is being brought in to dig the trenches to planned depths. Surface geologic mapping is defining previously unknown intersections of known productive structures with the El Sol zone. These are prime targets in the ongoing drill program where we expect to intersect additional high-grade mineralization. Recognition of the potential of the El Sol zone has bolstered our confidence that we will be adding substantially to the silver resources in the Cerro Las Minitas district that is now controlled by Silver Dragon.
Mr. Douglas R. Wood, P. Geo., a "qualified person" within the meaning of NI 43-101, prepared the technical information disclosed in this news release.
About Cerros las Minitas
Cerros las Minitas is comprised of 16 concessions covering 1394 Hectares. It is located in Durango, Mexico and comprises the Cerro Las Minitas mining district, part of the prolific silver belt of the Sierra Madre Occidental. Silver Dragon Resources Inc. through its wholly owned Mexican Subsidiary Silver Dragon Mining de Mexico S.A. De C.V. acquired the property 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 are producing properties with significant untapped exploration potential. For more information, please visit www.silverdragonresources.com.
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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