Drilling by Erdene Resource Development Corp at the Bayan Khundii, Altan Nar and Altan Arrow gold projects in southwest Mongolia continues to return encouraging results. The program is pushing the boundaries of known mineralisation at the three projects.

At Bayan Khundii, drilling up to 250 metres west of the Striker Zone has returned multiple gold mineralized intersections, including 58 metres from 135 metres @ 1.1 g/t gold. Other holes returned 52 metres from 120 metres @ 0.44 g/t, including 8 metres from 128 metres @ 0.99 g/t; 36.8 metres from 185 metres @ 0.32 g/t; and 55 metres from 128 metres @ 0.62 g/t, including 21 metres from 161 metres @ 1.3 g/t.

The 2017 program also continues to confirm the down-dip extension of the Midfield Zone under Striker Zone with 147 metres from 46 metres @ 0.7 g/t in one hole. Others returned 61 metres from 53 metres @ 0.63 g/t and 15 metres from 47 metres @ 0.84 g/t.

Erdene says visible gold was observed in drill core from three step-out holes up to 200 metres northeast of Midfield and in one step-out hole east of Striker. Several step-out holes surrounding these holes intersected alteration typically associated with the mineralised zones in Striker and Midfield.

The 2017 program at Bayan Khundii is designed to initially expand areas of gold mineralisation surrounding the Gold Hill, Striker and Midfield zones and to identify new zones elsewhere within the larger 2km by 1.8km project area.

Once complete, any new zones will receive more detailed drilling to increase confidence in advance of an eventual resource estimate. One drill rig is continuing with the exploration program while the second rig is dedicated to the closer-spaced resource delineation program.

At the Altan Nar Gold-Polymetallic Project, 16km northwest of Bayan Khundii, drilling continues to support the presence of a high-grade gold and base metal zone at depth in the central part of Discovery Zone (DZ). Results include 14 metres from 100 metres @ 9.5 g/t gold equivalent; 16 metres from 126 metres @ 5.13 g/t gold equivalent; and 3 metres from 135 metres @ 8.34 g/t gold equivalent.

The results suggest an increase in intensity of the gold-polymetallic mineralisation at depth within the central DZ with increased copper content. Mineralisation remains open at depth.

Erdene recently completed a detailed magnetic survey and induced polarisation dipole-dipole surveys, which have defined multiple drill targets throughout the larger 5.6km Altan Nar trend. The company has modified the 2017 Altan Nar exploration program to include a quarter three drilling program to test some of these new targets and to complete step-out drilling in areas adjacent to the previously reported NI 43-101 mineral resource estimate.

Erdene drilled two holes for 400 metres at Altan Arrow Gold-Silver Project, 3.5km north of Bayan Khundii. Results confirm the presence of low values of gold and silver with drilling of additional targets planned for the third quarter. Geophysics and further rock chip sampling are being carried out along trend.

“We are particularly excited about the recent success in step-out drilling north of the Midfield Zone at Bayan Khundii and the continuity of the high-grade zones at Altan Nar,” said Erdene’s president and CEO Peter Akerley.

“We continue to operate two drill rigs at Bayan Khundii with the expansion drilling continuing alongside additional infill drilling to follow-up on these newly discovered areas,” he said.


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