MONTREAL, Aug. 17, 2004 (PRIMEZONE) -- East Delta Resources Corp. (OTCBB:EDLT), a Canadian-based gold exploration and mining company operating in China, has released its report on exploration activities to date at its Bake property. The main conclusion of this report indicates upwards of 1,000,000 ounces of gold at Bake, with substantially more ore-zones to be uncovered on the remainder of this vast property.
East Delta, through its wholly owned subsidiary Amingo Resources Inc., holds a Joint Venture agreement with the provincial and county governments of Guizhou Province and Jinping County, (China) respectively, to explore and mine gold within their territories. Under the terms of the agreement, Amingo has acquired rights to develop a 72 square kilometer property named "Bake". Over the past years, Guizhou provincial government geologists, in conjunction with East Delta's own scientists, have undertaken substantial exploration on the property including geo-chemical soil and rock sampling, pitting, trenching and short exploratory adits.
The results of this work as verified by an independent Canadian geologist were made public today. The report concludes that the data outlines a high-grade ore body with indicated gold reserves of 1,020,448 ounces, (2.9925 million tonnes of ore with an average grade of 9.69 g/tonne Au). The exploration, which forms the basis of these projections, covered only 2% of the surface area of the property and was limited to 60 meters in depth. The cost of extraction has been estimated at less than US $175 per ounce.
Victor I.H. Sun, CEO of East Delta stated: "This report is truly exciting for us. This is only part of extensive exploratory work to be done at Bake, and already we have extremely positive indications that Bake has the potential to become a world-class gold mining operation. It is also important to emphasize that these results only represent one tiny area within what appears to be a multi ore-bodied property."
The geology report is available to the public upon request.
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