Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 16, 2011) – Jayden Resources Inc. (“Jayden” or “the Company”) (TSX:JDN)reports that it has completed the expenditure requirements to earn an additional 10% interest in the Silver Coin project, bringing the Company’s ownership to 80%.
Pursuant to a July 2009 agreement with JV partner Mountain Boy Minerals Ltd. (“Mountain Boy”), Jayden increased its ownership in Silver Coin to 70% with an option to acquire an additional 10% by spending $4M on the project by July 2014. With Jayden’s aggressive 2011 drilling and development program on Silver Coin, the Company has fast tracked the completion of this earn-in requirement, bringing the Company’s interest in the project to 80%.
As recently announced (News Release, September 8), due to excellent progress this year, Jayden has expanded its 2011 program at Silver Coin by adding 3,000m to its original 15,000m diamond drill program. Much of this new drilling is designed to test areas outside of the currently defined resource. To date, the Company has drilled 14,892m and reported assays on 44 of the 98 holes completed this year. During the 2010 drill program, the Company announced that results from extension drilling to the north of previous drilling expanded the footprint of gold mineralization at Silver Coin by 160 meters. This step-out drilling to the north demonstrated that mineralization persists in this direction, and remains open.
Bob Felder, Jayden’s President, commented, “We are very pleased to have increased our ownership in our flagship project. This is another milestone for Jayden which further enhances the Company’s strong motivation to advance the project to prefeasibility and move closer to production.”
About Jayden Resources
Jayden Resources is a Canadian exploration company with a 43-101 compliant resource at 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 and is being tested in this year’s drilling.
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 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.
