Pahang, Malaysia (PRWEB) May 05, 2014
Verde Resources, Inc. (OTCQB: VRDR) is pleased to provide an update on the recent exploration conducted by the in-house geological team for lode gold resources at Site IV-1 of the Merapoh Mine in Pahang, Malaysia.
The preliminary drilling program of over 50 meters in 2 drillholes at Site IV-1 of the Merapoh Mine has yielded encouraging results for high grade lode gold potential. Samples were collected at four different targets of the preliminary drilling program. The initial assay results of the first batch of core samples have been encouraging. The samples range from 0.11 g/t to 5.71 g/t with an average grade of 2.48 g/t. The results to date are very encouraging as excellent gold grades are present in some of these samples. Mr. Wu, President of Verde Resources, said "The recent exploration work has been successful and mineralization remains open at depth which will be further tested by our drilling program.”
In parallel, the production of alluvial gold at Site IV-1 of the Merapoh Mine is proceeding as planned. Mr. Wu concluded “As we continue to strengthen our operation with alluvial gold production, the lode gold drilling program will complement as a key step for Verde Resources in executing our mine development and resource expansion programs. We will continue to expand the deposit at the Merapoh Mine and simultaneously completing all necessary works including permit application to advance our mine development plan. We remain highly optimistic to maximize value for our shareholders in 2014.”
About Verde Resources, Inc.
Verde Resources, Inc. is an exploration stage mining company focused on global mining acquisition and development opportunities. Verde owns the management rights of Site IV-1 of the Merapoh Gold Mine in Pahang, Malaysia, which has four tons of alluvial gold resources and potential 30 tons of lode gold. Verde is also exploring for potential rare earth elements deposits in various parts of the world.
For more information, please contact Michael Liang: 852-21521223 .
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.