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Erdene Resource Development Corp.
Summary
| Project: | Bayan Khundii | |
|---|---|---|
| Deposit: | Bayan Khundii | |
| Location: | Mongolia | |
| Commodities: | Gold | |
| Date: | 9/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-9-2018: Erdene Resource Development Corp. announces a Resource Estimation report for its Bayan Khundii deposit at the Bayan Khundii project. Initial mineral resource estimate for Bayaan Khundii. Halifax, Nova Scotia – September 18, 2018 - Erdene Resour | |
| Resources: | (Resource, M+I): 5.1Mt @ 2.6g/t Au for 433Koz Au contained at Bayan Khundii | |
| CP/QP: | [Resources]: Jeremy Clark (RPMGlobal Ltd.) | |
| ABSTRACT: | Halifax, Nova Scotia – September 18, 2018 - Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), is pleased to announce the Mineral Resource estimate for its 100%- owned Khundii Gold Project in southwest Mongolia, prepared by RPMGlobal in accordance with the definition standards of National Instrument 43-101 (“NI 43-101”). The Khundii Gold Project includes the Company’s high-grade Bayan Khundii and Altan Nar deposits, located 16 kilometres apart. Today’s announcement includes the Maiden Mineral Resource estimate for the Bayan Khundii deposit and incorporates the significant increase in the NI 43-101 Mineral Resource for the Altan Nar deposit reported by the Company in May 2018. These deposits are shallow and high-grade, outcropping and located within the newly discovered Khundii Gold District. “With the results of the maiden Bayan Khundii resource estimate, we have met our initial resource target for the Khundii Gold Project at grades significantly higher than the global average of producing open pit gold mines,” said Peter Akerley, Erdene’s President and CEO. “The Bayan Khundii and Altan Nar deposits provide synergies for our Company and represent a compelling development opportunity given their high-grades, proximity to surface and favorable metallurgy. We will incorporate these two resource estimates into a Preliminary Economic Assessment for the Khundii Gold Project by year-end and expect to submit mining license applications for both deposits in early 2019. At the same time, we continue our regional exploration program with drilling currently underway testing multiple targets, designed to expand current resources and discover new deposits in this newly discovered gold district.” | |
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