The latest drill results from Erdene Resource Development Corp’s Bayan Khundii Gold Project in southwest Mongolia continue to provide encouragement. The company says third batch of results from the Q3/Q4 campaign support the emergence of a high quality gold discovery with all of the attributes desired to drive success.
“These include high grades, wide zones of gold mineralisation, a gold system that is open in all directions supporting significant size potential, ease of processing supported by early metallurgical work, and mineralized zones exposed at surface,” said Erdene’s president and CEO Peter Akerley.
“We look forward with excitement to the additional drilling and results expected in the coming weeks and months as we explore below the high-grade zone at Striker, step out into the basin north of Striker, and explore the greater district potential.”
The Striker Zone continues to provide impressive intersections with good continuity and high grades over broad intervals. The latest results include 56 metres @ 2.1 g/t gold in southeast Striker, including 3 metres @ 22.7 g/t; and 71 metres @ 1.1 g/t along the eastern end of Striker.
As part of Erdene’s Striker Zone expansion program, drilling has further defined a new gold zone north of Striker with 6 metres @ 9.0 g/t and 19 metres @ 1.6 g/t.
The drilling campaign continues with further results anticipated through early Q1 of 2017.
The drill plan for the remainder of Q4 has been modified to include testing the area surrounding a successful step-out hole which returned 60 metres @ 2 g/t.
Multiple holes, for which results are still pending, contain visible gold, including holes drilled under a previous hole which returned 63 metres @ 5.3 g/t.
Since September 5, 42 diamond drill holes totalling 5243 metres have been completed at Bayan Khundii. This brings total drilling at Bayan Khundii, since discovery drilling in Q4-2015, to 9784 metres.
Gold mineralization at Bayan Khundii has been identified over a 1.7km trend, with detailed exploration only taking place over a 500 metre by 350 metre zone in the southwest portion of the prospect area, where the company’s drill programs have focused.
In Q1-2016, the company concluded preliminary metallurgical test work indicating that gravity concentration and cyanidation of the gravity tails yield very good overall gold recoveries for both high-grade and low-grade composites.