Brossard (Quebec) / TheNewswire / March 8th, 2016 - Nippon Dragon Resources Inc. (the "Company" or "Nippon") (TSX-V Symbol: NIP), announces the start of thermal fragmentation operations at the Lac Herbin mine owned by QMX Gold Corporation and located near Val d'Or in the Abitibi region of Quebec, Canada.
The work is divided into several phases and Phase 1 includes the fragmenting of pre-drilled 10 metre deep pilot floor holes over a total distance of 32 meters in drifts 1 and 2 both located on level 17. Thereafter the pre-drilled pilot roof holes over the same distance will be fragmented. A 600 mm thick mineralized structure must also be extracted with minimal dilution.
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds a gold property with resources recognized in accordance with NI43-101, a modular treatment plant and also an exclusive license for the Thermal Fragmentation mining method.
Management also wishes to correct information contained in the press release dated February 10th, 2016, it should have read, "This first tranche is for 1,676,111 units of the Corporation at a price of $0.09 per unit, for aggregate gross proceeds of $150,850.00."
The company's growth strategy is based on:
- The development of its gold deposits with the objective of producing revenue from its operations;
- Increasing the value of its mining assets by prioritizing the exploration targets; and
- The commercialisation and employment of its thermal fragmentation technology.
For additional information:
|
John Stella, Investor relations |
(514) 718-7976 |
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|
Donald Brisebois, President & CEO |
(450) 510-4442 |
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com
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