Jayden Resources Completes Earn-In for Further Interest in Silver Coin Property

By Joel ScanlonSep 20 2011

Jayden Resources has completed the expense requisites to secure a further 10% interest in the Silver Coin project to bring the ownership of the company to 80% interest.

According to the agreement with Mountain Boy Minerals during July 2009, the company had raised the ownership to 70% interest in the Silver Coin project with a choice of purchasing a further 10% interest by paying $4 M for the project within July 2014. Due to the aggressive development and drill campaign by the Company on the Silver Coin project in 2011, Jayden has accelerated the completion of this earn-in condition and acquired 80% interest in the project.

As a result of exceptional advancement during 2011, the company has extended the 15,000 m diamond drill program at the Silver Coin project with the addition of 3,000 m. The plan of this recent drill campaign is to examine the regions exterior to the presently outlined resource. Jayden has drilled 14,892 m and announced the assay results of 44 holes out of the 98 holes. It has reported the expansion drilling results from the north of the earlier drilling program that extended the gold mineralization traces by 160 m at the Silver Coin property, in 2011. The step-out drilling conducted at the north has shown the continuation of mineralization and stays open.