Silver Dragon Resources Inc (OTC:SDRG), a mining and metals company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally, is pleased to share the updates on all projects in China.
The Erbahuo silver mine is owned by Silver Dragon through its subsidiary Chifeng Silver Dragon Resources & Technologies, Ltd. By 70%. The project is located in Wengniute County, Inner Mongolia, China and is presently being operated by Chifeng Silver’s partner Guangxi Hongteng Mining, Ltd. (“GHM”) as part of a five-year agreement (see press release July 12, 2011).
The mining work which is in progress is currently focused on the tunnel development. Approximately 3,000 tonnes of silver ore have been mined to date. Construction of the ore processing plant is in progress and near completion.
The Dadi, Laopandao and Aobaotugounao project is currently concentrated on three of the six exploration properties of Sanhe Sino-Top Resources and Technologies Ltd. the company will release the examined results on the exploration projects once they are available consequent to the completion of all the exploration programs later this year. Marc Hazout, President and CEO, stated; “We continue to be pleased with the results of our exploration programs at Dadi, Laopandao and Aobaotugounao as we move towards completing the permitting and preparing for production at Dadi. Our exploration and construction teams should be recognized for their hard work and effort and congratulated for bringing these projects to their existing stages.”
Shares of SDRG soared 23.08% to $0.08 with more than 310K shares exchanged hands.
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