NEWS - pretty impressiveThis is a very important release, IMO, as the Institute of Geology and Geophysics doesn't take on just any project. In fact, the last one they did yielded a 5x increase in resourcess.
Per David Morgan, Erbaohuo might be the biggest incremental source of silver in the world (see link below), and after the nine 43-101s are done we'll probably see resources comparable to many of the most exciting projects worldwide. Hopefully, this agreement will make those numbers become significantly larger.
https://goldismoney.info/forums/showthread.php?t=16880
mineshack, does this release give you further "mistrust"? Gimme a break. oh, and btw, David Morgan did NOT pay to have this report written. SDRG didn't purchase its initial stake in Erbaohuo until late 2006, compared to the publication date of early 2005.
Silver Dragon Signs Memorandum of Understanding With the Institute of Geology and Geophysics, Chinese Academy of Sciences
Tuesday August 21, 9:00 am ET
BEIJING, Aug. 21, 2007 (PRIME NEWSWIRE) -- Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) today announced the signing of a Memorandum of Understanding (``MOU'') between the Institute of Geology and Geophysics, Chinese Academy of Sciences (``Chinese Academy'') and Sanhe Sino-Top Resources & Technologies, Ltd. (``Sino-Top'') in Beijing, China. Silver Dragon owns a 90% equity interest in Sino-Top, a Chinese company which holds the exploration and mining rights to nine properties, including the Erbahuo Silver Mine located in the Erbahuo Silver District in Northern China.
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Under the terms of the MOU, Chinese Academy shall conduct a three-year scientific research project in the Erbahuo Silver District. The research project shall include a comprehensive study of the region through remote sensing as well as geological, geochemical, and geophysical means. The purpose of the project is to help identify the resource potential in the area, make metallogenic predictions in more targeted areas, and to acquire scientific data for further geological exploration and development of the properties. Silver Dragon shall fund the entire project, which has a total budget of RMB3 million (approximately $400,000).
``We welcome the opportunity to assist Silver Dragon in advancing the Company's properties in China,'' commented Professor Shen Yuanchao of the Institute of Geology and Geophysics, Chinese Academy of Sciences. ``We will conduct a thorough research program to better understand the geology of the region in order to help determine the resource base. Silver Dragon's properties in the Erbahuo Silver District represent an excellent opportunity for us to apply our new methods of identifying the size of existing ore bodies.''
``This is another major achievement for Silver Dragon, lending it further notable credibility in China,'' commented Marc Hazout, President and Chief Executive Officer of Silver Dragon. ``This relationship with the Institute of Geology and Geophysics, Chinese Academy of Sciences will eventually lead to a better determination of our resources. ''