Jayden Resources Inc. ("Jayden" or "the Company") (TSX: JDN)
announces approval of a C$5 million budget for a significant
development drilling program at its Silver Coin Project near
Stewart, B.C., with an anticipated start-up by June 1. Bob Felder,
Jayden's President comments, "In 2010, with only 18 holes, we
increased the average gold grade of the whole resource by 10.9%,
and we increased the total number of gold ounces by 11.1% (see news
release dated March 4, 2011). That is a lot of impact from a small
amount of drilling and is testimony to the significance of the
high-grade component of Silver Coin. We are very excited about the
potential impact of this year's program on the Silver Coin
resource. There is room to grow the resource, upgrade resource
categories and enough planned drilling and other work to
significantly improve our understanding of the deposit and the
controls on the high-grade zones. Our overall goals for Silver Coin
in the coming year are to significantly advance the project towards
production by expanding the resource and upgrading existing
resource classifications, improving understanding of metallurgy and
processing options, continuing to refine mine engineering and
project economics and continuing our ongoing environmental studies.
We aim to bring the project to the prefeasibility stage by early
2012. In addition, this year's program will have a strong geologic
component which will significantly enhance our ability to model the
already demonstrated, significant high-grade portions of the Silver
Coin deposit."
Drilling Program
Additional drilling is required to upgrade resource
classification and to expand the existing resource. Infill drilling
will facilitate upgrade of the resource from the inferred category
to measured and indicated, as well as contribute significantly to
ongoing efforts to build a comprehensive geologic model for Silver
Coin mineralization. Approximately 80% of the planned 2011 drilling
will be comprised of infill and close extension drilling, with the
additional 20% focusing on exploration drilling on several surface
showings of mineralization outside of the resource area that have
not been drill tested. We are planning 15,000 to 20,000 metres of
diamond drilling and two drill rigs have been contracted through
Sunrise Drilling Ltd., Burnaby, B.C. In addition to resource
drilling, the Company is considering additional drilling to collect
geotechnical and hydrological data, however this program has not
been finalized at this time.
Metallurgy and Processing
Additional metallurgical testing is planned and will involve the
creation of a new master composite sample at a grade of 1 gram per
tonne gold. Further flotation and cyanidation tests will be
conducted on the composite in a continuing effort to optimize
recoveries. This work is being supervised by F. Wright Consulting,
Vancouver, B.C. The drilling of large diameter metallurgical core
may be undertaken later in the season to conduct comminution tests,
and, if necessary, to further optimize recoveries based on
variations in deposit grade and mineralogy.
Mining Engineering
The Company is currently soliciting bids for additional
engineering studies. These will focus on facilities layout,
including power and roads, waste and tailings engineering and
pipelines.
Environmental Studies
Geochemical characterization of waste rock and low grade
mineralization are underway, to determine the acid generating
potential of Silver Coin, and appropriate mitigation measures.
Baseline surface water studies were initiated in the past and data
collection to support these studies is continuing with additional
sampling and monitoring. Plant and wildlife studies are also
planned, and the Company continues to collect meteorological data
from its onsite weather station. AMEC Earth & Environmental
Inc., Vancouver, B.C., has been contracted to complete this
work.
Geology
Our 2011 field program will have a larger emphasis on
interpretive geology than past programs. The goals of the geology
program are to develop an improved understanding of host
lithologies, alteration, structure, mineralogy and vein
paragenesis, to utilize these data to develop a comprehensive three
dimensional geologic model of Silver Coin mineralization and to
model the high-grade gold domains with increased confidence.
Specific components of this program are described below.
Gerald E. Ray, Ph.D., P.Geo., a qualified person for the
purposes of NI43-101, has been contracted to perform detailed
surface geological and structural mapping of the Silver Coin
property. Dr. Ray is a seasoned geoscientist with over 35 years
experience and significant experience in the Silver Coin area. The
new mapping will be integrated with subsurface geological and
structural data to contribute to the development of an upgraded
geologic model for the deposit.
Katherina V. Ross M.Sc., Panterra Geoservices, Surrey, B.C., has
been contracted to conduct mineralogical and alteration studies of
mineralized and unmineralized samples, with the goal of developing
a better understanding of time-space relationships and alteration
associated with gold-silver mineralization at Silver Coin. This
information will be critically important in developing a more
comprehensive understanding of the controls on mineralization.
Grassroots Syndicate, Winnipeg, MB, has been hired as our
geologic contractor to supervise the drilling and onsite geologic
data collection and QAQC programs. They are already on site
reviewing past logging, completing some relogging of past holes,
finalizing data collection procedures for this field season, and
upgrading our Stewart core logging facility.
About Jayden Resources
Jayden Resources is a Canadian exploration company with a 43-101
compliant resource-stage project, the Silver Coin gold/silver
deposit in the Stewart Camp, northern B.C., that includes the
historic Silbak-Premier Mine and Barrick Gold's famed Eskay Creek
Mine. Excellent exploration potential remains to the north,
north-west and south of the existing resource at Silver Coin.
Technical information in this press release was prepared and
reviewed by Lawrence Dick, Ph.D., P.Geo., recognized as a Qualified
Person under the guidelines of National Instrument 43-101.
On Behalf of the Board:
David Eaton, Chief Executive Officer
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities of Jayden
Resources Inc. in the United States. The securities have not been
and will not be registered under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
FORWARD LOOKING STATEMENTS:
This document includes forward-looking statements as well as
historical information. Forward-looking statements include, but are
not limited to, the continued advancement of the Company's general
business development, research development and the Company's
development of mineral exploration projects. When used in this
document, the words "anticipate", "believe", "estimate", "expect",
"intent", "may", "project", "plan", "should" and similar
expressions may identify forward-looking statements. Jayden
Resources Inc. believes that their expectations reflected in these
forward looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual
results will be consistent with these forward-looking statements.
Important factors that could cause actual results to differ from
these forward-looking statements include potential fluctuations in
the marketplace for the sale of minerals, the inability to
implement corporate strategies, the ability to obtain financing and
other risks disclosed in our filings made with Canadian Securities
Regulators.
The Toronto Stock Exchange has not yet reviewed and does not
take responsibility for the adequacy of the content of this news
release.
Contacts: Jayden Resources Inc. Mike Thast 604-688-9588
778-329-9361 (FAX) www.jaydenresources.com
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