Erdene Resource Development Corp has received further significant results from follow-up drilling on the recent high-grade discovery at the Bayan Khundii Gold Project in southwest Mongolia.
The latest results, which include 7 metres of 4.7 grams/tonne (g/t) gold within a 70 metre zone from 50 metres of 1.1 g/t, are from the second batch of nine holes for 835 metres from the company’s ongoing drill program. The program now includes an expanded 30 diamond drill holes totalling 3825 metres.
Erdene’s president and CEO Peter Akerley said, “The Bayan Khundii exploration program continues to return impressive intersections of gold mineralization often coming to surface and that appear to extend below the current depth of drilling.
“These initial drill results provide continuity of mineralization in the Striker Zone, one of several targets now being explored over a 1.7km strike length.
“As we begin to test the boundaries of the main mineralized area, it is apparent that intense alteration associated with the gold mineralization is extensive and continues under surrounding younger volcanics. We are currently well financed to continue with a very active field season of drilling as a result of the recent Sandstorm Gold financing and the exercise of warrants.”
Other good results were: 18 metres from surface @ 1.1 g/t, including 3 metres @ 4.5 g/t; 47 metres from 93 metres @ 0.5 g/t, including 11 metres @ 1.1 g/t; and 26 metres from 59 metres @ 0.76 g/t, including 3 metres @ 3.22 g/t.
Five of the six holes testing the western extension of the Striker Zone ended in gold mineralisation. Trenching has also uncovered a new zone north of the Striker Zone with one returning 5 metres @ 3.4 g/t.
The 2016 drilling program has been designed to test both the continuity and extent of mineralization in the main zones, including the Striker Zone, and to explore the possible limits of mineralization through reconnaissance drilling. This program will be followed by more detailed drilling in the third quarter.