Earth Dragon Resources Undertaking New Technical Study of Chisu Gold Project, Tanzania
Earth Dragon Resources Inc. wishes to provide an update regarding efforts underway at the Company’s Chisu Gold Project (“Chisu”) in Tanzania, Africa.
Earth Dragon has engaged an independent contractor to develop a current National Instrument (N.I.) 43-101 compliant engineering report for its joint venture gold property in Tanzania. The Company recently disclosed a previously published report commissioned by a third party in 2009 which provided Earth Dragon invaluable data that has greatly assisted in the determination of overall viability for the joint venture with Chisu.
The earlier report contained significant and highly encouraging data including details of previous regional efforts by Barrick Exploration Africa during 2000. The Chisu Gold Project consists of a contiguous area encompassing gold deposits in the Chunya Mining District straddling part of SW and Eastern Tanzania over an area of approximately 60 hectares in a region known as the Lupo Goldfields where gold was mined between 1922 until about 1962. The average ore grade during the known production period was 13.4g/t. The gold occurs in quartz veins ranging between 30-180cm in width. The region has been indigenously mined for over 40 years with recent studies revealing the underlying geology with increasing accuracy and detail.
The newly commissioned assessment will utilize the latest scientific and technical methods to identify, validate and estimate the extent of gold mineralization present throughout the Chisu property. Company Management has elected to undertake this comprehensive study of the property as its first priority in Tanzania in order to develop an effective work program for 2011 aimed at determining the most efficient means to progressively move towards pilot production and eventual commercial production.
Additional details regarding the Company, its business and its agreements are filed as part of the Company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s (“SEC”) EDGAR database.
