Asian Dragon Group Inc. Provides Progress Update on Due Diligence of Acquisition
Ticker Symbol: U:AADG X:FWB:P2J1
LUOYANG, China -- (Business Wire) --
Asian Dragon Group Inc., (OTCBB: AADG) (FWB:P2J1) (WKN:A0KE7Z) is
pleased to report Director Mr. Daniel Hachey and Independent Qualified
Person, Mr. Christian Derosier, P.Geo., President of CDGC Inc., a
world renowned geology and mining consulting company have recently
returned from a trip to China.
¶ The pair traveled to monitor the progress of Asian Dragon's
projects and to conduct due diligence on several of the properties
Asian Dragon has the option to acquire through its acquisition of
China Base Metal Development Company, Fuding Mining Development
Limited. In addition to existing Asian Dragon projects, one of the
properties reviewed was the FGLW Silver -- Lead Property, located only
1.5 km away from Silvercorp's world class HPG Silver -- Lead Mine and
5 km west of the SGX Silver -- Mine. Grab and channel samplings made
in the different visited adits returned gold values ranging from
traces to 19.30 g/T Au and silver values from 6.30 to 15100 g/T Ag.
Some isolated copper values up to 1.77% were also obtained from
different quartz-carbonates veins. Also, lead values were obtained
from 0.25 to 26.31% and zinc values varied from 0.03 to 3.07%. Gold
values seem to coincide with higher silver values, but are not related
to copper. Silver values are more often associated to lead grades.
Asian Dragon is bullish on the potential of the FGLW Silver-Lead
Property and believes the project is a worthy acquisition.
¶ Mr. Hachey stated, "We were very pleased by the advances our
Chinese partners have made at several of our properties, most notably
the advanced exploration programs being conducted at our Jinjishan
Gold Mine and the work at the Luanchuan Mozigou Molybdenum Mine. In
addition, the rights we are securing at the FGLW Silver Property give
Asian Dragon a wide portfolio of projects, all with tremendous
upside."
¶ Mr. Derosier is incorporating additional information collected on
the trip into existing reports on Asian Dragon's projects and will
release these shortly.
¶ About Asian Dragon
¶ Asian Dragon was established to focus on China's explosive
precious and base metals reserves and markets and to become one of
China's largest foreign 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 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.