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Silver Dragon Reports on Progress at Liangdi Ag-Pb-Zn Polymetallic Project and Other Exploration Projects in Northern China
BEIJING, May 27, 2008 (PRIME NEWSWIRE) -- Silver Dragon Resources Inc. (OTCBB:SDRG) is pleased to announce the discovery of 23 Ag-Pb-Zn mineralized bodies at the Liangdi Silver Project (“Liangdi”) located in the Erbahuo Silver District in Northern China. Silver Dragon has been implementing a comprehensive exploration program at Liangdi including trenching and tunneling. The tunnel has progressed to 60 meters and revealed four parallel mineralized bodies with their thicknesses ranging from 1.4 to 2.5 meters.
Below is the sampling plan map of the PD1 tunneling project in Figure 1 and the chemical assay results in Table 1.
Click to englarge
Figure 1 Sampling Plan Map of PD1 Tunneling Program, Liangdi
Table 1 Chemical Assay Results from the PD1 Tunneling Program |
Project No. |
Sample No. |
Sample Position(m) |
Length(m) |
Assay Results |
Mineralized Zone No. Ag, Pb, Zn (Average Grade) / Horizontal Thickness (m) |
From |
To |
Ag (g/t) |
Pb (%) |
Zn (%) |
PD1 |
LH140 |
2.0 |
2.0 |
0.5 |
110.00 |
6.38 |
0.26 |
⑦14.77,3.04,1.83/1.4 |
LH141 |
2.0 |
2.0 |
0.7 |
8.80 |
0.65 |
0.12 |
LH142 |
2.0 |
2.0 |
0.7 |
5.20 |
0.47 |
0.12 |
LH144 |
9.0 |
9.0 |
0.7 |
4.10 |
0.32 |
0.30 |
LH145 |
9.0 |
9.0 |
0.1 |
23.10 |
5.17 |
1.05 |
LH146 |
13.3 |
13.3 |
1.0 |
3.30 |
0.35 |
0.27 |
LH147 |
13.3 |
13.3 |
0.4 |
5.40 |
1.03 |
0.56 |
LH148 |
13.3 |
13.3 |
0.3 |
42.60 |
15.85 |
7.29 |
LH149 |
18.3 |
18.3 |
0.7 |
25.00 |
7.12 |
5.78 |
LH151 |
24.1 |
24.1 |
0.6 |
19.80 |
9.67 |
6.57 |
LH152 |
24.1 |
24.1 |
1.4 |
3.20 |
0.73 |
0.40 |
LH153 |
29.0 |
29.0 |
0.5 |
47.80 |
14.30 |
7.59 |
LH154 |
29.0 |
29.0 |
1.5 |
3.60 |
0.31 |
1.23 |
LH155 |
34.0 |
34.0 |
0.7 |
4.50 |
3.28 |
3.27 |
TC13-3 |
LH075 |
1.2 |
1.2 |
1.2 |
6.60 |
1.26 |
0.28 |
WCM13-1 |
LH159 |
6.7 |
7.7 |
1.0 |
15.20 |
1.18 |
1.55 |
⑥93.65,4.65,8.30/2.3 |
LH160 |
7.7 |
9.0 |
1.3 |
154.00 |
7.32 |
13.50 |
LH168 |
16.3 |
17.3 |
1.0 |
2.00 |
1.10 |
1.20 |
⑤2.66,1.79,1.53/1.7 |
LH169 |
17.3 |
18.0 |
0.7 |
3.60 |
2.77 |
2.00 |
ECM13-1 |
LH158 |
5.0 |
5.5 |
0.5 |
21.40 |
1.15 |
0.32 |
⑧7.50,0.99,0.77/2.5 |
LH162 |
6.2 |
7.5 |
1.3 |
6.20 |
1.46 |
1.35 |
"We are very excited about these results from our exploration of the Liangdi Project and will continue our exploration efforts to further define the extensions of the numerous mineralized bodies," stated Mr. Guofu Yang, chief geologist of Sino-Top, Silver Dragon’s 90%-owned Chinese subsidiary.
In addition to the exploration work at Liangdi, Silver Dragon has also started exploration projects at its other properties such as Dadi and Saihanaobao following its exploration plans for 2008. Besides geophysical survey and geological mapping at various properties, the company has also started preparations for road construction at Dadi for the purpose of implementing an initial drilling program to verify the extensions of the significant Ag-Pb-Zn surface mineralization discovered last year (see press release January 14, 2008).
Dr. Tiebing Liu, P. Geo., a "qualified person" within the meaning of NI 43-101, reviewed and participated in the preparation of the technical information disclosed in this news release.
About Liangdi
The Liangdi exploration area covers 32.03 square kilometers and is located approximately 650 kilometers north by northeast of Beijing in Chifeng, Inner Mongolia. Most of the exposed rocks in this area are Late Yanshanian fine granular K-feldspar granite and coarse granular granite, and the sedimentary strata, Upper Permian Linxi Formation sandstone, occurs at the corner of the area. Within the granite intrusion, there are many veins of granite, quartz porphyry, and altered granite, trending NW mostly. The altered late magmatic veins are of silicification, tourmalinization, chloridization. Some veins contain Ag-Pb-Zn mineralization and reach industrial grades. Exploration activities completed by Silver Dragon to date include 60m tunneling and 3,053m3 trenching, resulting in the discovery of 23 Ag polymetallic mineralized bodies and more than 10 geochemical anomalies. The most significant discovery was that, besides identified massive galena and sphalerite filling veins both on the surface and underground tunnels, the host rocks, being silicified masses, also contain Ag polymetallic sulfides. Geophysical survey proved the veins are consolidated underground to form massive siliceous ore bodies. Tunneling revealed the thicknesses of mineralized bodies are growing underground with increasing grades, suggesting great ore-finding potentials.
About Silver Dragon Resources Inc.
Silver Dragon Resources Inc. is a mining and metal company focused on the acquisition, exploration, development and operation of silver mines in proven silver districts exclusively in China and Mexico. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, 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 Cerros las Minitas in Mexico and the nine Erbahuo properties in China. With operations in Mexico, the world’s leading producer of silver, and in China, the world’s largest consumer of silver, Silver Dragon is prepared to participate in China’s increasing demand for silver. 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, such as statements regarding the exploration and development of the Projects, outcome and timing for the completion of further assays and Silver Dragon’s future prospects, are forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks associated with the mining industry such as economic factors, government regulation and approvals, environmental risks, actual results of exploration activities, future commodity prices, permitting timelines, capital expenditures, possible variations in ore reserves, resources, grade or recovery rates, requirements for additional capital, changes in laws or policies, changes in project parameters as plans continue to be refined, conclusions of economic evaluations as well as other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact Silver Dragon Resources Inc.
Colin Sutherland
(416) 223-8500 or Toll Fee: 1-866-512- SDRG (7374)
Email: info@silverdragonresources.com
Alessandro Motta
Investor Relations
(416) 223-8500 or Toll Fee: 1-866-512- SDRG (7374)
Email: info@silverdragonresources.com
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