Erdene Resource Development Corp has received further strong assay results from drilling at the Bayan Khundii Gold Project in southwest Mongolia. The results have confirmed gold continuity in the main zones and extended mineralization at depth.
The company has received results for the third batch of drilling in the second quarter drill program from six holes for 1403 metres. A fourth batch of results is expected by the end of June.
High-grade gold ranging from 11.2 to 30.3 grams/tonne (g/t) was returned from multiple step-out and extension holes and surface trenching. One hole has provided the deepest continuity of the Striker Zone to date with a 66 metre section @ 1.0 g/t gold, including 26 metres @ 2.0 g/t.
Intense alteration and gold mineralization was identified under younger cover 140 metres northwest of Striker, with 115 metres @ 0.43 g/t from 65 metres to the bottom of the hole at 180 metres depth. Gold was also discovered in overlying younger sediments - 2 metres @ 4.1 g/t.
Another hole returned high grade gold under younger cover 180 metres west of Striker, with 2 metres @ 15.3 g/t from 124 metres depth and 18 metres @ 0.4 g/t. A hole extension in the northeast Striker Zone returned 2 metres @ 10.0 g/t.
Trenching in a new zone northwest of Gold Hill returned 7 metres @ 89.7 g/t within 37 metres @ 2.1 g/t.
“These results confirm our stated objectives of confirming continuity of gold mineralization in the main zones, including the Striker Zone, and extending mineralization through reconnaissance drilling outside the previous known limits,” said Erdene’s president and CEO Peter Akerley.
“The results confirm the extension of significant gold mineralization at depth in the Striker Zone, the identification of a new zone at surface and the discovery of broad zones of mineralization under cover.
“We will now dedicate additional resources to improving our understanding of the controls on mineralization in this large system prior to a return to drilling in mid third quarter.”
The quarter two 2016 exploration program, which included 3845 metres of diamond drilling in 30 drill holes, was 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.