CDSG SIGNS AGREEMENT FOR LARGE CARLIN TYPE GOLD TARGET IN NEVADA
Rhea-AI Summary
China Dongsheng International (CDSG) has entered an agreement to acquire exploration rights for the Walker Ridge Gold Property in Elko County, Nevada, from Oliver Geoservices LLC. Walker Ridge is strategically located near the Jerritt Canyon gold mines, which produced over 8.5 million ounces of gold. This area is known for significant gold production, having yielded over 90 million ounces across central and north Nevada. CDSG is optimistic about the potential of Walker Ridge, identifying main drill targets for rapid advancement this year.
Positive
- Acquisition of drill-ready Walker Ridge Gold Property.
- Location near Jerritt Canyon gold mines, a historically productive area.
- Presence of geochemical and geophysical anomalies indicating gold deposits.
Negative
- Risks and uncertainties associated with forward-looking statements.
News Market Reaction – CDSG
In the trading session that priced this news, CDSG gained 7.38%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Las Vegas, NV., April 12, 2022 (GLOBE NEWSWIRE) -- China Dongsheng International Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce that it has entered into an agreement with Oliver Geoservices LLC (“OGS”), a Texas based privately held corporation, whereby CDSG will acquire all of OGS’s rights for exploration, development and exploitation related to the drill-ready Walker Ridge Gold Property (“Walker Ridge”) located in Elko County, Nevada.
The Walker Ridge claims sits in a favorable location near to Elko Nevada just north of the Jerritt Canyon gold mines, currently operated by First Majestic Silver Corp (NYSE: AG), which have produced over 8.5 million ounces of gold.
The Walker Ridge project is road accessible and is located within one of the four major linear Carlin gold structures that cross central and north Nevada and have produced over 90 million ounces and continue to lead gold production and discoveries in Nevada.
Walker Ridge contains the same geologic units that host the Jerritt Canyon gold deposits and previous exploration efforts have delineated very large coincident geochemical and geophysical anomalies indicative of a buried Carlin Type gold occurrence.
Craig Alford, CDSGs’ President and a Professional Geoscientist, states, “We are very excited about prospects at Walker Ridge, which sits in a structure parallel to the Turquoise Ridge Carlin gold trend where local operators have had great success with deep drilling. We have already chosen our main drill targets and hope to rapidly advance this excellent target this year.”
About CDSG: CDSG is a diversified holding company whose strategy is to acquire interests in a range of profitable ventures within the Energy and Minerals sector.
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.
