Archive for the ‘Earth Dragon Resources Inc. EARH’ Category

Earth Dragon Resources, Inc. (EARH) to Potentially Measure Gold by the Ton in Tanzania

Thursday, March 24th, 2011

It’s hard to imagine a more classic representative of Africa, once called the mysterious continent, than Tanzania. Located on Africa’s southeast shore of the Indian Ocean, Tanzania is the home of Mount Kilimanjaro and Lake Victoria, the long sought source of the Nile River. The country has long been known for magnificent scenery and for having one of the largest concentrations of wild animals in the world, but it is now becoming known for something else. Tanzania is one of the world’s fastest emerging gold producers, and is already the third largest producer of gold in all of Africa.

For Earth Dragon Resources, Tanzania represents a potential production of as much as one metric ton of gold every year, through a joint venture project with Chisu Gold Mines Ltd. The company is now undertaking detailed evaluation and development of a gold prospect at Chisu, consisting of a contiguous area encompassing gold deposits straddling southwest and eastern Tanzania.

The prospects are within the Chunya mining district, where gold has been mined since 1922. Overall, Tanzania has proven gold reserves in excess of 1,000 tons, and XRF analyses of Chisu rock samples so far have indicated gold mineralization in almost all quartz veins sampled.

In addition to rich gold resources, Tanzania has a favorable attitude toward foreign investment, with government steps to improve the business climate, such as redrawing tax codes, floating the exchange rate, licensing foreign banks, and creating an investment promotion to reduce red tape. It is expected that, within 5-7 years, the operation will be one of the leading gold producers in East Africa, turning out as much as 35,000 troy ounces of gold annually.

For more information, visit the company’s website at www.EarthDragonGold.com

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Earth Dragon Resources (EARH) Finds Gold in Ghana

Friday, March 18th, 2011

For decades, the word “gold” has pointed to one country, South Africa. It wasn’t only the biggest gold producer in Africa, it was the biggest gold producer in the world. There was a time not that long ago when as much as 2/3 of the world’s gold came from South Africa. No more. South African gold production has plummeted to less than a quarter of what it was in 1970, and world output is now spread among many countries.

Even on its home continent, South Africa’s golden crown is being challenged. The main contender is now Ghana, where gold production has increased roughly nine-fold since the 1980s. In 2009 alone production rose 12%. The country now boasts 16 operating mines, 6 projects in development, and over 150 foreign and local companies with exploration licenses, mainly in the domain of gold. Gold accounts for nearly 90% of Ghana’s mineral exports.

It’s in Ghana where Earth Dragon Resources has entered into a joint venture with Netas Mining Company to develop two properties, at Nkwanta and Asuogya. The Ashanti Belt, where Netas Nkwanta is located, has the longest history of gold mining in Ghana, and is well understood. The property is focused on the Golden Arrow Veins, currently being excavated. Visible gold has already been noted in the vein, and four new veins have been discovered.

The company has identified an area of mineralized quartz veins averaging one meter in thickness, and a shear zone as wide as 10 meters, in a series of sub-parallel structures about 500 meters apart. The goal is to mine the quartz reefs in an open cast operation, with output anticipated to be between 4,000 and 10,000 troy ounces of gold annually.

For more information, visit the company’s website at www.EarthDragonGold.com

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Uncertain Times Boost Earth Dragon Resources (EARH)

Monday, March 14th, 2011

The recent catastrophe in Japan has again brought home the critical role of gold in the global economy. Historically, no single investment has played the role of safe haven in uncertain times more than gold, and uncertainty is, to one degree or another, ever-present. Gold has been seen as an especially powerful hedge since 2001. In the past 10 years, gold prices have roughly quadrupled, and the addition of events in Japan to the already volatile world political and economic situation assures continued upward pressure.

Investing in gold exploration and mining companies has been seen as an inexpensive way of getting on a train that has already left the station. The trick is to zero in on companies that represent more than just a spin of a roulette wheel. The advantage of Earth Dragon Resources is that it already has proven properties in Africa.

In Ghana and Tanzania, the company has identified areas of mineralized quartz veins, each promising to produce upwards of 4,000-10,000 troy ounces of gold annually. It’s clear how anything boosting the outlook for gold impacts the potential value of Earth Dragon.

In particular, the company has already entered into a joint venture with Netas Mining of Ghana to develop two properties at Nkwanta and Asuogya. Workers are already excavating and sampling gold targets on the Nkwanta Concession, focusing on the hard rock vein deposits previously identified.

Unlike South Africa, where gold production has been dramatically declining over the past decade, Ghana gold production has been increasing over the same period, to approximately 2.9 million ounces in 2009. The Ashanti Belt, where Netas Nkwanta is located, has the oldest history of gold mining in the country, and is the best understood of Ghana’s gold belts.

Earth Dragon feels it’s in the best position to aid investors seeking security and growth in uncertain times.

For more information, visit the company’s website at www.EarthDragonGold.com

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Earth Dragon Resources, Inc. (EARH) to Issue 3:1 Stock Dividend

Tuesday, March 8th, 2011

Today after the closing bell, Earth Dragon Resources, Inc. announced that its Board of Directors have approved a 3:1 stock dividend of the Company’s common stock following the results of an encouraging fiscal 3rd quarter. Shareholders of EARH stock on the closing date of April 8th are entitled to the dividend payment. The Company has set a payable date of April 15th, 2011.

Earth Dragon Resources, Inc. is an exploration stage company focused on acquiring, exploring and developing mining properties. Currently, the company is developing gold deposits in the Ashanti Gold Belt in Ghana and the Lupa Goldfield in Tanzania. Earth Dragon has significant international potential due to the robust demand from the gold market.

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Gold Prices Hit Record Highs as Ongoing Geopolitical Events Drive Rally; Earth Dragon Resources, Inc. (EARH.OB) Poised to Benefit

Tuesday, March 8th, 2011

Gold prices have risen to record heights for the third time in a week, supporting Earth Dragon Resources, Inc. belief that the ceiling is potentially much higher yet. Gold futures for April delivery settled at US$1,434.50 at 1:32 p.m. on the Comex in New York yesterday. Last week, the metal climbed 1.4 percent, extending the rally to six weeks, the longest since September 2007.

Because the Earth Dragon’s economic model was predicated on gold prices in the US$1200/oz range, the company is in an increasingly advantageous position to capitalize on the record high prices. The company’s ability and motivation to rapidly move its projects forward is increasing every time the price rises.

The market outlook is especially positive for precious metals when one considers that before much of the recent unrest in the Middle East had come into being, many industry analysts and pundits alike were predicting $3,000/oz gold prices within the next 2 years driven by demand from the electronics and jewellery sectors in China and India combined with inflation fears in North America. Many experts are now aggressively correcting their timeline estimates.

Earth Dragon’s primary focus is to develop its gold ventures in both Ghana and Tanzania which are both moving ahead as scheduled. Plans to develop a technical report (N.I. 43-101) to develop a regulatory compliant resource estimate are moving ahead at the Chisu Gold Project in Tanzania and recent assays from the Nkwanta Concession have returned outstanding gold values generating great interest in the project and further accelerating the company’s efforts.

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Earth Dragon Resources (EARH.OB) Set to Turn Gold Into Earnings

Monday, March 7th, 2011

The stated mission of Earth Dragon Resources is to purchase, develop, and produce high quality end-stage gold projects. Its current focus is in Africa, where it aims to progress from advanced exploration to early stage production of gold properties it already has in Ghana and Tanzania.

Africa is the world’s largest source of gold, with South Africa being the continent’s leading producer. Ghana is the second largest gold producing nation in Africa, with Tanzania, one of the fastest emerging gold producers, now the third.

In Ghana, Earth Dragon has identified an area of mineralized quartz veins averaging 1 meter in thickness, with similar findings in Tanzania. In both countries, the plan is to mine the quartz reefs in an open cast blast-shovel-haul operation, eventually reaching 20 tons per day. The ore will be processed using a continuous feed modular gold plant, which can be easily scaled up. Each operation is anticipated to produce between 4,000 and 10,000 troy ounces of gold per year, returning gross revenues estimated to be at least $18.8 million USD at projected prices.

Demand for gold is worldwide, but is currently strongest in China, India, and the Middle East. Although India is still the largest consumer of gold, China is fast becoming a major demand driver. As China continues to grow into an economic powerhouse, with an exploding consumer class, the demand for gold in all forms will continue to expand. And this is happening at a time when worldwide gold production is actually declining. Like oil, gold is getting harder to find. And it’s not hard to figure out what will happen to price if demand continues to increase faster than supply.

For more information, visit the company’s website at www.EarthDragonGold.com

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Beacon Equity Research Featured Company: Earth Dragon Resources, Inc. (EARH.OB)

Monday, March 7th, 2011

Earth Dragon Resources, Inc. is an exploration stage company focused on acquiring, exploring and developing mining properties. Currently, the company is developing gold deposits in the Ashanti Gold Belt in Ghana and the Lupa Goldfield in Tanzania. Earth Dragon has significant international potential due to the robust demand from the gold market.

In Ghana, the company has identified an area of mineralized quartz veins averaging 1 meter in thickness, and a shear zone as wide as 10 meters striking SW-NE for about 700m in a series of sub-parallel structures approximately 500m apart. Presently, 35 people are excavating and sampling gold targets on the Nkwanta Concession focusing on previously identified hard rock vein deposits.

In Tanzania, the company has identified a shear zone as wide as 10m and mineralized quartz veins averaging 100cm in thickness which strike SW-NE for about 700m in a series of sub-parallel structures approximately 150m apart. Tanzania has become one of the fastest-emerging gold producers in Africa and is now the continent’s third-largest gold producing country.

The macroeconomic environment, including a weakening dollar, the sovereign debt crisis in the Euro-zone, increased liquidity and loose fiscal policies, are supporting higher gold prices. Since 2001, gold prices have quadrupled, rising to all-time highs of over $1,400 an ounce. According to industry estimates, gold prices are expected to near $2,000 per ounce by the end of 2011.

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Earth Dragon Resources, Inc. (EARH.OB) Commissions New Technical Study of Chisu Gold Project, Tanzania

Wednesday, March 2nd, 2011

Earth Dragon Resources, Inc. today provided an update to investors regarding efforts underway at the Company’s Chisu Gold Project (“Chisu”) in Tanzania, Africa. According to the release, the company has engaged an independent contractor to develop a current National Instrument (N.I.) 43-101 compliant engineering report for the joint venture gold property.

Earth Dragon recently disclosed a previously published report commissioned by a third party in 2009 which provided invaluable data that has greatly assisted in the determination of overall viability. Containing significant and highly encouraging data, the report included details of previous regional efforts by Barrick Exploration Africa during 2000.

The Chisu Gold Project consists of a contiguous area encompassing gold deposits in the Chunya Mining District straddling part of SW and Eastern Tanzania over an area of approximately 60 hectares in a region known as the Lupo Goldfields where gold was mined between 1922 until about 1962. The average ore grade during the known production period was 13.4g/t. The gold occurs in quartz veins ranging between 30‐180cm in width.

Undertaking the new assessment will utilize the latest scientific and technical methods to identify, validate and estimate the extent of gold mineralization present throughout the Chisu property. Earth Dragon’s management decided to make this comprehensive study of the property the company’s first priority in Tanzania in order to develop an effective work program for 2011, identifying the most efficient means to progressively move towards pilot production and eventual commercial production.

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Earth Dragon Resources Inc. (EARH.OB) Finds Gold in Diversity

Tuesday, March 1st, 2011

The seemingly insatiable global demand for gold has had the effect of bringing together people with diverse talents from around the world, all in the expanding search for the increasingly valuable yellow metal. It has also led to the diversification of locations explored.

A case in point is Earth Dragon Resources, a gold exploration and development company. The company is based in Tokyo, but is currently looking for gold in Africa, specifically in Ghana and Tanzania. In addition, the management of the company comes from both Japan and the U.S. Still more diversity is seen in the varied backgrounds of the management team.

Thomas Herdman (CEO) – Mr. Herdman is an internationally known management consultant and financial advisor, with 17 years of experience in natural resource and energy related projects, including the financing, development, acquisition, and sale of oil and gas assets. He previously held the position of Lecturer at Chuo University, Faculty of Law, and resides in Tokyo.

James Park (Director) – Mr. Park is a Certified Senior Geologist, with over 25 years of experience in all phases of geotechnical and mineral resource development. Since 2008, he has been an independent mining consultant, and earlier served as a geologist with a number of mineral and oil companies. He resides in Arizona.

Jiichiro Date (Director) – Mr. Date came from a background as a world-class athlete, wrestling coach, and leadership consultant in business. He has competed in the Summer Olympics and World Championships, and has coached various national teams in the U.S., Japan, and Canada. He continues to lecture around the world, and resides in Tokyo.

Earth Dragon has identified promising gold sites in both Ghana and Tanzania, with the goal of developing and producing at both locations, from 4,000 to 10,000 troy ounces of gold.

For more information, visit the company’s website at www.EarthDragonGold.com

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Earth Dragon Resources, Inc. (EARH.OB) is “One to Watch”

Friday, February 25th, 2011

Earth Dragon Resources, Inc. (EARH) is an exploration stage company focused on acquiring, exploring and developing mining properties. Currently, the company is developing gold deposits in the Ashanti Gold Belt in Ghana and the Lupa Goldfield in Tanzania. Earth Dragon has significant international potential due to the robust demand from the gold market.

In Ghana, the company has identified an area of mineralized quartz veins averaging 1 meter in thickness, and a shear zone as wide as 10 meters striking SW-NE for about 700m in a series of sub-parallel structures approximately 500m apart. Presently, 35 people are excavating and sampling gold targets on the Nkwanta Concession focusing on previously identified hard rock vein deposits.

In Tanzania, the company has identified a shear zone as wide as 10m and mineralized quartz veins averaging 100cm in thickness which strike SW-NE for about 700m in a series of sub-parallel structures approximately 150m apart. Tanzania has become one of the fastest-emerging gold producers in Africa and is now the continent’s third-largest gold producing country.

The macroeconomic environment, including a weakening dollar, the sovereign debt crisis in the Euro-zone, increased liquidity and loose fiscal policies, are supporting higher gold prices. Since 2001, gold prices have quadrupled, rising to all-time highs of over $1,400 an ounce. According to industry estimates, gold prices are expected to near $2,000 per ounce by the end of 2011.

Let us hear your thoughts: Earth Dragon Resources, Inc. Message Board