BEIJING, Jan. 29, 2013 (GLOBE NEWSWIRE) -- Silver Dragon Resources Inc. (OTCQB:SDRG) (the "Company") is pleased to announce that it has obtained mining area delimitation approval for its Dadi Silver-Lead-Zinc polymetallic property in Inner Mongolia, Northern China. Dadi is owned by Sanhe Sino-Top Resources & Technologies, Ltd. ("Sino-Top"), of which Silver Dragon Resources Inc. has a 40% equity interest. The mining area delimitation approval, a major milestone in the process of mining license application, has been issued by the Land & Resources Department of Inner Mongolia.
The validity period of the mining area delimitation is one year from January 14, 2013, within which period the company must fulfill all the other mining license application requirements, including plans or reports for mineral resources development, water preservation, environmental assessment, and land restoration, and applying for and receiving a mining right.
About DadiDadi is one of the six exploration properties of Sanhe Sino-Top Resources and Technologies Ltd. ("Sino-Top"), a Chinese company that holds exclusive exploration rights to these properties, located in the Erbahuo Silver District in Inner Mongolia, China. Silver Dragon Resources Inc. has a 40% ownership interest in Sino-Top. The Dadi exploration area, covering 12.48 square kilometers, is located in the Mesozoic volcanic basin in Keshiketeng County, Inner Mongolia, China. Geologically, the Dadi property is located in the south edge of the Daxinganling metallogenic belt and at the joint between the Daxinganling mountain chain (with north-east direction) and the Xilamulunhe structure belt which trends in an east-west direction. These two structural belts are also two major mineralization-forming belts of China. This entire tectonic setting provides a dynamic geologic environment for the development of mineralizing systems. The major exposed rocks in the Dadi Property are Upper Jurassic Baiyingaolao Formation dacitic tuffaceous lava, dacitic tuff, rhyolitic tuff, and tuffaceous sandstone and conglomerate, among which dacitic tuffaceous lava and dacitic tuff are the main host rocks of mineralization.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV