Jayden Resources Inc.

Jayden Resources Inc.

April 27, 2011 09:15 ET

Jayden Resources Announces 2011 $5M Budget and Program for Significant Advancement of Its Silver Coin Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2011) - Jayden Resources Inc. ("Jayden" or "the Company") (TSX:JDN) announces approval of a C$5 million budget for a significant development drilling program at its Silver Coin Project near Stewart, B.C., with an anticipated start-up by June 1. Bob Felder, Jayden's President comments, "In 2010, with only 18 holes, we increased the average gold grade of the whole resource by 10.9%, and we increased the total number of gold ounces by 11.1% (see news release dated March 4, 2011). That is a lot of impact from a small amount of drilling and is testimony to the significance of the high-grade component of Silver Coin. We are very excited about the potential impact of this year's program on the Silver Coin resource. There is room to grow the resource, upgrade resource categories and enough planned drilling and other work to significantly improve our understanding of the deposit and the controls on the high-grade zones. Our overall goals for Silver Coin in the coming year are to significantly advance the project towards production by expanding the resource and upgrading existing resource classifications, improving understanding of metallurgy and processing options, continuing to refine mine engineering and project economics and continuing our ongoing environmental studies. We aim to bring the project to the prefeasibility stage by early 2012. In addition, this year's program will have a strong geologic component which will significantly enhance our ability to model the already demonstrated, significant high-grade portions of the Silver Coin deposit."

Drilling Program

Additional drilling is required to upgrade resource classification and to expand the existing resource. Infill drilling will facilitate upgrade of the resource from the inferred category to measured and indicated, as well as contribute significantly to ongoing efforts to build a comprehensive geologic model for Silver Coin mineralization. Approximately 80% of the planned 2011 drilling will be comprised of infill and close extension drilling, with the additional 20% focusing on exploration drilling on several surface showings of mineralization outside of the resource area that have not been drill tested. We are planning 15,000 to 20,000 metres of diamond drilling and two drill rigs have been contracted through Sunrise Drilling Ltd., Burnaby, B.C. In addition to resource drilling, the Company is considering additional drilling to collect geotechnical and hydrological data, however this program has not been finalized at this time.

Metallurgy and Processing

Additional metallurgical testing is planned and will involve the creation of a new master composite sample at a grade of 1 gram per tonne gold. Further flotation and cyanidation tests will be conducted on the composite in a continuing effort to optimize recoveries. This work is being supervised by F. Wright Consulting, Vancouver, B.C. The drilling of large diameter metallurgical core may be undertaken later in the season to conduct comminution tests, and, if necessary, to further optimize recoveries based on variations in deposit grade and mineralogy.

Mining Engineering

The Company is currently soliciting bids for additional engineering studies. These will focus on facilities layout, including power and roads, waste and tailings engineering and pipelines.

Environmental Studies

Geochemical characterization of waste rock and low grade mineralization are underway, to determine the acid generating potential of Silver Coin, and appropriate mitigation measures. Baseline surface water studies were initiated in the past and data collection to support these studies is continuing with additional sampling and monitoring. Plant and wildlife studies are also planned, and the Company continues to collect meteorological data from its onsite weather station. AMEC Earth & Environmental Inc., Vancouver, B.C., has been contracted to complete this work.


Our 2011 field program will have a larger emphasis on interpretive geology than past programs. The goals of the geology program are to develop an improved understanding of host lithologies, alteration, structure, mineralogy and vein paragenesis, to utilize these data to develop a comprehensive three dimensional geologic model of Silver Coin mineralization and to model the high-grade gold domains with increased confidence. Specific components of this program are described below.

Gerald E. Ray, Ph.D., P.Geo., a qualified person for the purposes of NI43-101, has been contracted to perform detailed surface geological and structural mapping of the Silver Coin property. Dr. Ray is a seasoned geoscientist with over 35 years experience and significant experience in the Silver Coin area. The new mapping will be integrated with subsurface geological and structural data to contribute to the development of an upgraded geologic model for the deposit.

Katherina V. Ross M.Sc., Panterra Geoservices, Surrey, B.C., has been contracted to conduct mineralogical and alteration studies of mineralized and unmineralized samples, with the goal of developing a better understanding of time-space relationships and alteration associated with gold-silver mineralization at Silver Coin. This information will be critically important in developing a more comprehensive understanding of the controls on mineralization.

Grassroots Syndicate, Winnipeg, MB, has been hired as our geologic contractor to supervise the drilling and onsite geologic data collection and QAQC programs. They are already on site reviewing past logging, completing some relogging of past holes, finalizing data collection procedures for this field season, and upgrading our Stewart core logging facility.

About Jayden Resources

Jayden Resources is a Canadian exploration company with a 43-101 compliant resource-stage project, the Silver Coin gold/silver deposit in the Stewart Camp, northern B.C., that includes the historic Silbak-Premier Mine and Barrick Gold's famed Eskay Creek Mine. Excellent exploration potential remains to the north, north-west and south of the existing resource at Silver Coin.

Technical information in this press release was prepared and reviewed by Lawrence Dick, Ph.D., P.Geo., recognized as a Qualified Person under the guidelines of National Instrument 43-101.

On Behalf of the Board:

David Eaton, Chief Executive Officer

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Jayden Resources Inc. in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


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. 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 potential fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.

The Toronto Stock Exchange has not yet reviewed and does not take responsibility for the adequacy of the content of this news release.

Contact Information