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Erdene Resource Development Corp.
Summary
| Project: | Bayan Khundii | |
|---|---|---|
| Deposit: | Bayan Khundii | |
| Location: | Mongolia | |
| Commodities: | Gold | |
| Date: | 11/28/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-11-2016: Erdene Resource Development Corp. announces an Exploration/Drilling Update report for its Bayan Khundii deposit at the Bayan Khundii project. Drilling results incl. 65m @ 6.3g/t Au from 71m. Halifax, Nova Scotia – November 28, 2016 – Erdene Re | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael MacDonald (Internal) | |
| ABSTRACT: | Halifax, Nova Scotia – November 28, 2016 – Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company") is pleased to report the fourth batch of drill results from its Q3/Q4 drill campaign at its 100%-owned Bayan Khundii Gold Project (“Bayan Khundii”) in southwest Mongolia. “Today’s results further support our belief that Bayan Khundii represents one of the most prospective new high-grade, near-surface gold discoveries in the industry today. Our drill program continues to push the boundaries of the mineralized system at depth and along strike, with today’s results including the widest, high-grade intercepts we have witnessed to date,” said Peter Akerley, Erdene’s President and CEO. “We recently completed a series of drill holes on our two adjacent gold projects within the larger gold district, and have now returned to Bayan Khundii to test new areas for expansion north of the initial discovery. These holes will test targets in the area surrounding hole BKD-60, a strongly mineralized step-out hole that was announced in October.” Three holes, BKD-77 to BKD-79, were drilled along the southern boundary of the Striker Zone, targeting extensions of mineralization at depth. As shown in Table 1 above, all three holes returned high-grade gold mineralization to depths of up to 136 m. Hole BKD-77 returned 65 m of 6.3 g/t gold between 71 m and 136 m depth and contained very high-grade intervals, including up to 306 g/t gold over 1 m at 111 m depth. All three holes have successfully expanded the southern boundary of the Striker Zone, which remains open in all directions. Drill hole locations are shown on the attached maps. | |
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