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Erdene Resource Development Corp.
Summary
| Project: | Bayan Khundii | |
|---|---|---|
| Deposit: | Bayan Khundii | |
| Location: | Mongolia | |
| Commodities: | Gold | |
| Date: | 10/21/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-10-2019: Erdene Resource Development Corp. announces a Pre-Feasibility Study report for its Bayan Khundii deposit at the Bayan Khundii project. PFS results incl. post-tax NPV (5%) of $97M, IRR of 42%. Erdene Resource Development Corp. (TSX:ERD; MSE:ERD | |
| Resources: | (Reserve, P+P): 3.5Mt @ 3.7g/t Au at Bayan Khundii | |
| CP/QP: | [Resources]: Cameron Norton (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) ("Erdene" or the "Company") is pleased to announce the results of an independent Technical Report for the 100%-owned, high-grade, open-pit, Khundii Gold Project in southwest Mongolia, including a Pre-Feasibility Study (“PFS”) for its Bayan Khundii Gold Deposit (“Bayan Khundii” or “BK”) and an updated Preliminary Economic Assessment (“PEA”) for its Altan Nar Deposit (“Altan Nar” or “AN”), located 16 km from Bayan Khundii. The Technical Report also includes an updated mineral resource as well as a statement of mineral reserves for Bayan Khundii. The Technical Report was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by Tetra Tech Inc. (“Tetra Tech”). The Technical Report, pursuant to NI 43-101 guidelines, will be filed on SEDAR within 45 days. “With exceptionally high gold grades, a growing resource and low capital and operating costs, the Khundii Gold Project will generate significant returns for all stakeholders,” said Peter Akerley, Erdene’s President and CEO. “Bayan Khundii PFS results provide a compelling base development case, and the updated Altan Nar PEA demonstrates the significant upside in our Khundii Gold District.” | |
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