Jayden Files Updated Technical Report on the Silver Coin Gold Project-Including a New Resource for High Grade Core Amenable to Underground Mining
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 23, 2013) - Jayden Resources Inc. (TSX:JDN) ("Jayden" or the "Company") is pleased to announce that it has filed an updated NI 43-101 technical report in regards to the Company's Silver Coin gold project (the "Report").
The Report was prepared by Mining Plus Canada Ltd. of Vancouver, BC and is available under the Company's SEDAR profile at www.sedar.com.
The Silver Coin Project is located approximately 25 km north of the town of Stewart, British Columbia. It is comprised of 44 claims with a net area of 1,496 ha and is a joint venture with Mountain Boy Minerals Ltd. (Jayden 80%, Mountain Boy 20%).
Resource Estimate
Jayden contracted Mining Plus Canada Ltd. to complete a mineral resource estimate on a high grade portion of the Silver Coin deposit which may be amenable to underground mining.
Several high grade zones have been delineated in this new study which are centered around and extend away from the area of existing underground development where limited production took place in the early 1990's. This current resource is focused on the Main, North, East and West Zones and is tabulated below:
SILVER COIN CLASSIFIED RESOURCES (at cut-off 2 g/t Gold for all zones)
| Category | Tonnage kt | Au g/t | Ag g/t | Zn % | Pb % | Cu % | ||||||
| Indicated | 702 | 4.46 | 17.89 | 0.88 | 0.33 | 0.07 | ||||||
| Inferred | 967 | 4.39 | 18.98 | 0.64 | 0.25 | 0.04 |
A full breakdown of the resource by individual zones is provided in the Report at SEDAR.
The Report also identifies this resource at a series of cut-off grades as follows:
| Grade Tonnage Information for Indicated Resources | ||||||||||||
| Au g/t cut off | Tonnage Kt | Au g/t | Ag g/t | Zn % | Pb % | Cu % | ||||||
| 2 | 702 | 4.46 | 17.89 | 0.88 | 0.33 | 0.07 | ||||||
| 5 | 210 | 10.16 | 16.01 | 0.81 | 0.36 | 0.03 | ||||||
| 10 | 54 | 19.50 | 18.32 | 1.01 | 0.46 | 0.04 | ||||||
| 15 | 14 | 23.84 | 19.26 | 1.13 | 0.53 | 0.04 | ||||||
| 20 | 4 | 28.98 | 22.88 | 1.19 | 0.44 | 0.03 | ||||||
| Grade Tonnage Information for Inferred Resources | ||||||||||||
| Au g/t cut off | Tonnage Kt | Au g/t | Ag g/t | Zn % | Pb % | Cu % | ||||||
| 2 | 967 | 4.39 | 18.98 | 0.64 | 0.25 | 0.4 | ||||||
| 5 | 279 | 9.61 | 30.85 | 0.85 | 0.3 | 0.07 | ||||||
| 10 | 112 | 13.53 | 37.87 | 0.95 | 0.33 | 0.08 | ||||||
| 15 | 27 | 18.52 | 34.82 | 0.98 | 0.39 | 0.07 | ||||||
| 20 | 5 | 24.09 | 31.19 | 0.87 | 0.43 | 0.05 | ||||||
Additional Potential
The above resource does not comprise all the narrow gold zones suitable for underground extraction and there is good potential to expand this high-grade resource with further work. This may include more detailed optimization of the current resource, upgrade of unclassified zones to indicated or inferred (where there is insufficient data), plus the definition of additional high grade lenses to the east and sub- parallel to the Main Zone and to the north of the North Zone. There is also potential for additional near-surface gold zones which may be suitable for open pit mining and which may add to the current high grade resource.
David Eaton, President of Jayden comments:
"This latest resource represents a new direction to Jayden's continuing studies on the Silver Coin deposit which are focused on evaluating the most economic method of bringing the deposit into production and providing the maximum value to our shareholders. Previous studies have been focused on a lower grade, bulk tonnage open pit operation. However Jayden's management considers that there may be many advantages to an alternative underground mining scenario, which builds & capitalizes on existing development & infrastructure and will result in significantly lower capex costs. We consider it prudent to review alternative mining scenarios to ensure that the Company is on track to bringing Silver Coin to production and positive cash flow as soon as possible.
In our latest studies we have begun to delineate a high-grade core to the resource which may be amenable to underground mining methods. There is significant potential to both optimize and increase this high-grade resource with more detailed work and management are developing their ongoing work plan accordingly.
The Silver Coin property has the huge advantage of its excellent location and accessibility in the well-established, mining-friendly Stewart Camp of BC. Silver Coin is close to power, all-weather roads and a deep water year-round seaport. We have already completed significant environmental, metallurgical and geochemical work on the property. We look forward to continuing with our current studies and adding more value to our resource. Our ongoing work program will also include a review of the key environmental and permitting requirements necessary to move the project forward to the production stage."
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 BC that also includes the historic Silbak-Premier Mine and Barrick Gold's famed Eskay Creek Mine.
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. John Collins, P.Geo. and Marek Mroczek, P.Geo. are the Mining Plus consultants who are the Qualified Persons responsible for the Technical Report and the estimates therein.
On Behalf of the Board:
David Eaton, President
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 the potential that 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.
