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Erdene Resource Development Corp.
Summary
| Project: | Bayan Khundii | |
|---|---|---|
| Deposit: | Bayan Khundii | |
| Location: | Mongolia | |
| Commodities: | Gold | |
| Date: | 7/4/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-7-2017: Erdene Resource Development Corp. announces an Exploration/Drilling Update report for its Bayan Khundii deposit at the Bayan Khundii project. Drilling results incl. 84.4 @ 1.14g/t Au from 83.6m. Halifax, Nova Scotia – June 29, 2017 – Erdene Reso | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael MacDonald (Internal) | |
| ABSTRACT: | Halifax, Nova Scotia – June 29, 2017 – Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company") is pleased to announce results from the Company’s 2017 drill program at its 100% owned Bayan Khundii Gold Project (“Bayan Khundii”) in southwest Mongolia. “Drilling under cover, north and northeast of the Midfield Zone has successfully extended gold mineralization in a series of holes trending towards the Northeast Zone while follow-up drilling between Striker and Midfield continues to demonstrate down-dip continuity of Midfield mineralization,” said Peter Akerley, Erdene’s President and CEO. “The 2017 drill program has now established continuity of significant gold mineralization over a 1.3 kilometre long trend that is locally up to 450 metres wide and remains open. We are roughly half way through our initial 2017 drill program with results continuing throughout Q3 2017.” A series of six holes (BKD-125, -126, -136, -137, -143, -144) were drilled over a 400 by 200 metre area east of the Midfield Zone, with holes spaced at approximately 80 to 150 metres (see attached plan map). Several holes intersected weakly altered Devonian rocks with thicknesses up to 67 metres, locally with anomalous gold, up to 0.9 g/t gold over a 2 metre interval in BKD-125 (200 metres northeast of BKD-118 which returned 10 metres of 12.8 g/t gold). These holes intersected the Cretaceous unconformity at depths ranging from 62 to 168 metres (true vertical depth) with some intersecting syenite directly below the unconformity. Drill results indicate this area represents a pre-Cretaceous syenite ridge with evidence suggesting that altered Devonian units thicken further to the east, where strong geophysical resistivity high coincident with magnetic low responses have been identified. These geophysical anomalies may reflect altered and potentially mineralized Devonian tuffaceous rocks below cover, and will be targeted in Q3 2017 drilling. | |
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