Earth Dragon Resources Enters Into Gold Venture in Tanzania

Earth Dragon Resources, Inc. (OTC:EARHD) announces the signing of a joint venture agreement with Chisu Gold Mines Limited in order to conduct mining operations in Tanzania, Africa.

The press release is quoted as saying:

As part of the agreement, Earth Dragon Resources shall commit a minimum of US$2 million over the next 2 years to earn a 20% ownership plus first right of refusal to undertake all remaining financing requirements of the project. The prospect location is known as the Chisu Gold Project and 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 production period was 13.4g/t. The gold occurs in quartz veins ranging between 30?180cm in width. The region has been indigenously mined for over 40 years with recent studies revealing the underlying geology with increasing accuracy and detail.

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