Dragon Gold Expands Exploration Area in Mongolia.LONDON -- Dragon Gold Resources, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DRGO) ("Dragon Gold" or "the Company") is pleased to announce the expansion of its exploration areas in Mongolia with the addition of two exploration licenses in the Uvurkhangai Province. The properties lie in the southeastern boundary of the Khangai and Bayankhongor metallogenic zones, approximately 420 kilometres southwest of Ulaanbaatar. The exploration properties cover a total area of 23,352 hectares, thus, increasing the company's exploration areas in Mongolia to a total of 71,200 hectares. Copper and silver occurrence points are found in the areas according to the 2002 Distribution Map of Mineral Deposits and Occurrences in Mongolia. At the moment, Dragon Gold is in the process of completing its review of previous exploration works and preparing a field work program for the two new properties. Commenting on the properties, Albert Cui, Dragon Gold's Director of Exploration said: "We are pleased with the addition of these two properties to our Mongolian gold/copper portfolio. The geological features, mineral showings, and ancient Chinese pits, as described by previous exploratory work, indicate a good potential for the discovery of gold or gold/copper deposits. I believe this will enhance the scope of Dragon Gold's future exploratory success in Mongolia." Del Khad Area According to the previous exploratory work reports, lower to middle Carboniferous sedimentary rocks of the Khangain series and a late Permian to early Triassic granodiorite granodiorite Medium- to coarse-grained rock that is one of the most abundant intrusive rocks. It contains quartz and is distinguished from granite by having more plagioclase feldspar than orthoclase feldspar; its other mineral constituents include hornblende, biotite, and stock are exposed within the license area. The rocks were further intruded by granitic porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. and rhyolite rhyolite, fine-grained light-colored acidic volcanic rock. Rhyolite is chemically the equivalent of granite, and is thus composed primarily of quartz and orthoclase feldspar with subordinate amounts of plagioclase feldspar, biotite mica, amphiboles, and pyroxenes. dykes. Hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. alteration zones, quartz-pegmatite veins and veinlets and dykes of sub-volcanic origins with intensive silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. , pyritization, and chloritization occur around the granodiorite stock body. Gold grades of 0.01 to 8 g/t were indicated by limited samples collected from the alteration zones and quartz vein samples. These results were recorded in previous exploration reports and have not been verified by the Company. Oyut Area The property is located in the Oyut area, 400 km southwest of Ulaanbaatar. Middle-upper Devonian and early Carboniferous volcanic-sedimentary rocks are widely exposed in the license area. Also quartzite quartzite, usually metamorphic rock composed of firmly cemented quartz grains. Most often it is white, light gray, yellowish, or light brown, but is sometimes colored blue, green, purple, or black by included minerals. , jasperoid veins, stock bodies are widely spread. Mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. points and ancient Chinese pits were discovered previously, and six rock-chip samples were collected by the previous license holder. The unverified samples show gold grades ranging from 0.04 to 0.21 g/t in 2 samples, and a copper grade of 0.47% to 2.2 % in 4 samples. Dragon Gold Resources, Inc. is a gold exploration company headquartered in London, England. The Company focuses its exploration and minerals development activities in China and Mongolia. Both countries provide an ideal foreign investment climate given their untapped geological potential and favourable mining laws. Additional information can be found on the Company's website: www.dragon-gold.com. On behalf of the Company; Johannes Petersen, President For INVESTOR INFORMATION please contact: 1-866-843-8869 Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in gold exploration, the availability of needed personnel and equipment for future exploration and development, fluctuations in gold prices, and general economic conditions. |
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