CDSG PLANS DRILLING ON LARGE CARLIN TYPE GOLD TARGET IN NEVADA
Rhea-AI Summary
China Dongsheng International (OTC: CDSG) announced an update on its Walker Ridge Gold Property in Elko County, Nevada. The project is located near Jerritt Canyon, an area with significant gold production. Walker Ridge features a geochemical anomaly indicative of Carlin-type gold deposits, similar to the successful adjacent Jerritt Canyon mines. In 2022, CDSG plans to conduct an approved drill program targeting a significant geochemical anomaly. The company believes Walker Ridge holds promising potential for gold deposits, emphasizing its favorable geological features.
AI-generated analysis. Not financial advice.
Positive
- Walker Ridge shows a broad geochemical anomaly indicative of Carlin-type gold deposits.
- The 2022 drill program has received approval from Nevada state authorities.
- Potential to discover significant gold deposits similar to successful Jerritt Canyon mines.
Negative
- None.
News Market Reaction – CDSG
On the day this news was published, CDSG gained 31.50%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Las Vegas, NV., May 05, 2022 (GLOBE NEWSWIRE) -- China Dongsheng International Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce an update for the Carlin-type Walker Ridge Gold Property (“Walker Ridge”) located in Elko County, Nevada.
The Walker Ridge project is road accessible located 60 miles north of Elko Nevada just off of Highway 225. The Walker Ridge claims cover an area just north of the Jerritt Canyon gold mines, currently operated by First Majestic Silver Corp (NYSE: AG),
Walker Ridge contains a broad geochemical and geophysical anomaly highly indicative of a Carlin gold type deposit (“CTGD”). Similar anomalies in the same geologic units have resulted in the success of locating the nearby Jerritt Canyon deposits which have now produced over 9.7 million ounces of gold from both open pit and underground operations. Production from CTGDs make up the bulk of Nevada’s output and are the backbone of Nevada Gold Mines, the joint venture between Barrick Gold (NYSE: GOLD) and Newmont gold (NYSE: NEM), which produces approximately 2 million ounces per year.
Our 2022 drill program at Walker Ridge has been approved by Nevada state authorities in which we plan to investigate the over mile-wide ‘bullseye’ geochemical and gravity anomaly at Walker Ridge. Results from a Controlled Source Audio-frequency Magnetotellurics (CSAMT) survey completed by a previous investigation identified a northwest-southeast trending resistive feature within a broad resistivity low that looks nearly identical to the classic CTGD mineralization model.
Craig Alford, CDSGs’ President and a Professional Geoscientist, states, “This is elephant country for gold deposits, and we are very excited about how each characteristic of Walker Ridge checks the boxes of the features that belonging to a Carlin type gold deposit. Our drill program plans to combine reverse circulation with later diamond drilling to maximize our investigative scope of this big target.”
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG) is an emerging company based in Las Vegas, Nevada. The company's principal activity is seeking opportunities in both public and private companies in the technology, natural resource and various other sectors.
Contact:
Harp Sangha-Chairman
1-702-595-2247
www.cdsgholdings.com
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.
