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Erdene Resource Development Corp.
Summary
| Project: | Bayan Khundii | |
|---|---|---|
| Deposit: | Midfield | |
| Location: | Mongolia | |
| Commodities: | Gold | |
| Date: | 1/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-1-2017: Erdene Resource Development Corp. announces an Exploration/Drilling Update report for its Midfield deposit at the Bayan Khundii project. Drilling results incl. 148.8m @ 2.11g/t Au from 23m. Halifax, Nova Scotia – January 10, 2017 – Erdene Resou | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael MacDonald (Internal) | |
| ABSTRACT: | Halifax, Nova Scotia – January 10, 2017 – Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company") is pleased to announce results for nine diamond drill holes from the Company’s step-out drilling program at its 100%-owned Bayan Khundii Gold Project (“Bayan Khundii”) in southwest Mongolia. “Today’s results indicate that significant gold mineralization lies under younger cover at Bayan Khundii, greatly expanding the footprint of this high-grade, near-surface discovery, and support our belief that this gold system has considerable size potential,” said Peter Akerley, Erdene’s President and CEO. “In 2017, we will launch a resource drilling program, complimented by an extensive exploration drilling program designed to expand the known areas of gold mineralization at Bayan Khundii as well as our other targets in the district including Altan Nar. The Company completed eight diamond drill holes, totaling 1,370 metres, in a new target area now called the Midfield Zone, north of the original discovery area, and one hole, 125 metres deep, to the west (BKD-93). As shown in the attached plan maps and cross-sections, the eight holes were drilled on 40-metre centers surrounding the successful step-out hole BKD-60, announced in October 2016, which returned 68 metres of 2.0 g/t gold. Drill holes were orientated at either 45 degrees or 60 degrees towards the north-northeast to intersect the mineralized zones approximately perpendicular to their interpreted orientation (dipping approximately 45 degrees to the southwest). All holes intersected gold mineralization with visible gold observed in six of the eight holes, establishing lateral continuity of this new mineralized zone in all directions. | |
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