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Erdene Resource Development Corp.
Summary
| Project: | Khundii | |
|---|---|---|
| Deposit: | Khundii | |
| Location: | Mongolia | |
| Commodities: | Gold | |
| Date: | 12/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 18-12-2018: Erdene Resource Development Corp. announces a PEA report for its Khundii deposit at the Khundii project. PEA results incl. post-tax NPV (5%) of US$99M, IRR of 56%. Halifax, Nova Scotia – December 18, 2018 - Erdene Resource Development Corp. (T | |
| Resources: | (Resource, M+I): 10.1Mt @ 2.7g/t AuEq | |
| CP/QP: | [Overall Report]: Igor Bojanic (RPMGlobal Ltd.) | |
| ABSTRACT: | Halifax, Nova Scotia – December 18, 2018 - Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) ("Erdene" or "Company"), is pleased to announce the results of an independent Preliminary Economic Assessment (“PEA”) study for its 100%-owned Khundii Gold Project (the “Project”) in southwest Mongolia. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by RPMGlobal Asia Limited (“RPM”). “Today’s PEA confirms that the Khundii Gold Project is a high-return, low-capital and low-operating cost project that will form the cornerstone development in the emerging Khundii Gold District,” said Peter Akerley, Erdene’s President and CEO. “The Project has the potential to provide strong returns to investors, bring industry and employment to a remote area of Mongolia and add to national gold reserves. We have a long history of operating responsibly in the Country and we look forward to creating value for all stakeholders as we continue to develop this exciting Project.” “Next steps include a Pre-Feasibility Study carried out in parallel with mining license, construction and operating permit applications in early 2019,” continued Mr. Akerley. “In addition, we will continue efforts to add resources through follow-up drilling on the Khundii licenses and with further exploration in the highly prospective surrounding district. We will also opportunistically acquire additional licenses in the region as they become available.” The PEA incorporates the maiden resource estimate for Erdene’s Bayan Khundii gold project (“Bayan Khundii”) announced in September 2018 (see news release dated September 18, 2018), and the updated resource estimate, completed in May 2018, for the Company’s Altan Nar gold project (“Altan Nar”), 16 kilometres northwest of Bayan Khundii (see news release dated May 10, 2018). The PEA includes 2.7 million mineable tonnes from the Bayan Khundii resource at an average head grade of 3.65 g/t gold, of which 98% are Measured and Indicated Resources. The Altan Nar deposit for the PEA contributes 1.9 million mineable tonnes at an average head grade of 3.11 g/t gold, of which 70% are Measured and Indicated Resources. These deposits are being developed as a single project and are discussed herein as the Khundii Gold Project. | |
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