Earth Dragon Resources, Inc. (EARH.OB) Commissions New Technical Study of Chisu Gold Project, Tanzania

By @ibtimes on

Earth Dragon Resources, Inc. today provided an update to investors regarding efforts underway at the Company’s Chisu Gold Project (“Chisu”) in Tanzania, Africa. According to the release, the company has engaged an independent contractor to develop a current National Instrument (N.I.) 43-101 compliant engineering report for the joint venture gold property.

Earth Dragon recently disclosed a previously published report commissioned by a third party in 2009 which provided invaluable data that has greatly assisted in the determination of overall viability. Containing significant and highly encouraging data, the report included 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.

Undertaking the new assessment will utilize the latest scientific and technical methods to identify, validate and estimate the extent of gold mineralization present throughout the Chisu property. Earth Dragon’s management decided to make this comprehensive study of the property the company’s first priority in Tanzania in order to develop an effective work program for 2011, identifying the most efficient means to progressively move towards pilot production and eventual commercial production.

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