Message #16 From:
NewsBot Date: March 8, 2007 01:30:00 AM
AADG News Asian Dragon Group Inc. is Pleased to Release Updated Technical Report on the Jinjishan Gold Mine Indicating Evidence of a Multi-Million Ounce Gold Deposit
LUOYANG, China--(BUSINESS WIRE)--Asian Dragon Group Inc., (OTCBB:AADG) (Frankfurt:P2J1) (WKN:A0KE7Z) is pleased to release the updated Technical Report on its Jinjishan Gold Mine. The Technical Report was prepared in accordance with National Instrument 43-101, and SEC Industry Guide No. 7 by C.D.G.C. Inc., a world-renowned geology and mining company, based in Quebec, Canada.
In the Technical Report, Mr. Christian Derosier, P.Geo, President of C.D.G.C. Inc. and independent qualified person notes the following:
“The economic potential of the Jinjishan property is considered very good as the currently known mineralized veins have attractive grades and mineralized veins are being located on an ongoing basis without the use of modern exploration techniques. In 2004 there were 10 known veins and today there are 16 veins located on the property.”
“The depth extension of the presently found veins along with the probability of locating other veins greatly enhances the possibility in defining a multi-million ounce gold deposit on the Jinjishan Mining Property. These estimations do not take in account the large quantity of silver present in the veins as well as the base metals that are recovered by the local smelters.”
“It is concluded that the property has merit in two ways. At first, taking into consideration that the F-1 Vein Mining (adjacent property) and Milling Operation have been in operation for over seven and a half years giving a reasonable profit. Secondary, taking into account the potential of the rest of the veins found to date on the property, economical gold values obtained from within the F-3 through F-10 veins, greatly increase the potential of the property.”
Asian Dragon is pleased with the results of the Technical Report and looks forward to the results from the recommended Exploration Program as it continues to make significant progress on Project Luogold.
About Asian Dragon
Asian Dragon was established to focus on China’s explosive precious metals reserves and markets and to become one of China’s largest foreign gold and precious metals producers through a series of joint ventures and mine and property acquisitions.
Long standing relationships with the Gold Bureau have provided Asian Dragon with the exclusive opportunity to commence due-diligence on several advanced Chinese Gold Mining Projects in one of the Country’s most well-known and prolific mineral production regions, the Xiaoqinling Region.
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.
