Jayden receives new 43-101 technical report updating the resource for the silver coin gold project and announces the 2010 drill program is underway
Vancouver, B.C., September 16th, 2010; Jayden Resources Inc. (JDN:TSX-V, "Jayden" or "the Company") announces that it has received a new NI 43-101 Technical Report (available on SEDAR) for its Silver Coin Gold Project located near the town of Stewart in NW British Columbia. The Company is also pleased to announce that earlier in the week, the Company received its permit and the 2010 drill program has commenced.
The NI 43-101 compliant Technical Report was produced by the engineering firm Minarco MineConsult ("Minarco") based in Beijing China and includes an updated resource estimation based on recent revisions to the Company's master drill hole database and a recommended work program.
During the summer of 2010, the Company's new management completed an exhaustive review to verify and validate the existing digital database. The Company also developed a structural geologic model for the deposit to improve its geologic understanding of the deposit and to enhance the accuracy of future resource estimation. Importantly, the Company discovered geological logs and assay certificates for a significant number of drill hole intervals that had not been included in the digital database. Based on the predominantly low values of the newly added assay intervals, the Company recognized that the new data would materially affect the existing mineral resource estimate.
Based on the validated database and the new geologic model, the Company contracted Minarco to re-estimate the Silver Coin mineral resource and issue a new NI 43-101 compliant Technical Report. The new Minarco resource at a 0.3 g/t Au cut-off grade shows a Measured and Indicated resource of 27,163,600 tonnes grading 0.96 g/t for a total of 835,700 ozs. gold and 5,218,900 ozs. silver and an Inferred resource of 29,653,200 tonnes grading 0.69 g/t for a total of 655,200 ozs. gold and 5,723,000 ozs. silver. Minarco also concluded that zinc is potentially recoverable during the processing of Au and Ag and estimated that within the gold/silver resource there is an Inferred resource of 56,816,800 tonnes of zinc grading 0.19% for a total of 242,450,200 pounds.
The Minarco report replaces the March 2010 Tetra Tech resource report that estimated Silver Coin contained a Measured and Indicated resource of 24,708,000 tonnes grading 1.19 g/t for a total of 944,000 ozs. gold and 5,217,000 ozs. silver and an Inferred resource of 41,302,000 tonnes grading 0.86 g/t for a total of 1,140,000 ozs. gold and 9,460,000 ozs. silver. The March report concluded that an inferred resource of 41,302,000 tonnes of zinc grading 0.25% for a total of 229,184,000 pounds was present on Silver Coin.
Silver Coin Drill Program
Jayden plans to complete a 2000-3000m drill program at Silver Coin within the coming weeks. The drill program will have several objectives all aimed at advancing the project toward a pre-feasibility study the Company intends to start in 2011. The Company will drill several holes within the existing resource block to confirm historical assays, better define the geology and provide fresh core for metallurgical and environmental testing. The Company will also drill several holes to explore for possible extensions of the still-open mineralization to the north, northwest and south of the existing resource. One of the Company's goals is to upgrade the large Inferred resource to the Measured and Indicated categories and this drilling will be an important step towards achieving this goal. Based on the results of the 2010 assay results and Minarco's recommended drill program, the Company intends to complete a new resource estimation in early 2011.
This press release was prepared and reviewed by Robert Perry, CPG, who is a Qualified Person under the guidelines of National Instrument 43-101. Jeremy L. Clark, who was responsible for the mineral resource reported in this release and Technical Report, is full time employee of Minarco and is independent of Jayden.
For further information about Jayden and this news release contact Mike Thast at 604-688-9588 or visit Jayden's website at www.jaydenresources.com.
On Behalf of the Board:
"David Eaton"
Chief Executive Officer
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. Although 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, regulatory approvals and other risks disclosed in our filings made with Canadian Securities Regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.