MONTREAL, June 21, 2004 (PRIMEZONE) -- East Delta Resources Corp. (OTCBB:EDLT) today issued a progress report on its joint venture gold mining project in China.
The joint venture contract with the provincial and county governments of China's Guizhou Province and Jinping County, respectively, affords East Delta Resources the opportunity to explore and mine gold within these territories. Under terms of the agreement, East Delta's wholly owned Canadian subsidiary, Amingo Resources, Inc. and local Chinese authorities have established a joint venture company, Guizhou Amingo Resources Inc. The joint venture company has successfully acquired rights to develop a 72 square kilometer property in the designated area, known as the Bake Gold Property.
Through a recent infusion of capital into East Delta and the joint venture, Guizhou Amingo has been able to install its Chinese management team, begun hiring support staff, and completed a current year budget for expenditures. In addition, the development program for the Bake Gold Property is now in the final planning phase. The joint venture company is targeting a 20 square kilometer area for geochemistry, surface survey, and mapping efforts in preparation for drilling anticipated to commence this fall.
Simultaneously, East Delta has engaged independent geologists to evaluate the extensive geological data collected over the past several years on the Bake property site, and has made this data available to the joint venture company.
According to Guizhou Amingo's President, Dr. Lu Huan Zhang, "This planning work is fundamentally important to form a good basis for mining development operations. What is especially critical is the validation of the data that will strengthen our confidence in extracting high quality gold ore at Bake."
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