Erdene drills 36 m of 1.07 g/t Au at Bayan Khundii
ERDENE RESOURCE Development Corp. is providing additional assay results from its 2017 drill program at its 100per-centowned Bayan Khundii gold project in southwest Mongolia.
“We are now at the midpoint of the initial 2017 drill cam paign in t he Bayan Khundii region and thus far have defined several new areas that will require definition drilling, particularly west and east of Striker, the Northeast zone, and importantly north and west of Midfield. It is very encouraging to continue to intersect broad zones of gold mineralization along the margins of the established 1.3-kilometre-by-500-metre mineralized trend,” said Peter Akerley, president and chief executive officer. “As we continue to expand outward from that area in Q3 we will be testing six new target areas up to one kilometre from the original discovery at Striker zone. In addition, as drilling progresses through Q3, we will move into the untested 3.5-kilometre-long gold-in-soil anomaly that continues north to Altan Arrow and ultimately return to drilling at our Altan Nar project, 16 kilometres to the northwest.”
• Success from stepout drilling and geophysical surveys leads to an expanded target area at Bayan Khundii;
• Drilling west of the Striker and Midfield zones returns multiple, high-grade, one-metre intervals between 10 and 22 grams per tonne gold;
• Drilling up to 150 metres west of the Striker zone returns multiple gold mineralized intersections over a 250-metre-by-200-metre area, including 28 metres of 1.4 g/t gold (BKD-172);
• Drilling west of Midfield zone returns 36 metres of 1.1 g/t gold (BKD-166);
• Upcoming Q3 drilling of five untested targets and continued definition of new targets north and east of the Midfield and Striker zones with closer-spaced drilling;
• Regional structural analysis and detailed structural analysis of Bayan Khundii and Altan Nar projects will
be undertaken during Q3. Western extension of Striker and Midfield zones
Hole BKD-166, west of the Midfield zone, returned 36 metres of 1.1 g/t gold (see table). This hole was drilled 50 metres west of previously reported drill hole BKD-100, drilled in Q2 2017 along the western edge of the Midfield zone. Additional drilling will be required to confirm the true extent of the mineralization in this area.
A series of holes was completed south of BKD-166, to the west of the Striker zone and covering a 250-metre-by-200-metre area, and returned multiple gold mineralized intersections under younger, post mineralization cover( see table).
The above results have established multiple targets that justify additional closer-spaced drilling in Q3 2017.
(See ERD Table 1 on page 9)
Southern extension of Northeast zone
Six, 80-metre-spaced holes were completed over an area south and southwest of the Northeast zone (BKD-160 to BKD-165). All holes except one (BKD-160) intersected the host silicified volcanic tuffs that are typical for Bayan Khundii, with four holes returning low-grade gold mineralization. A closer-spaced drill program will be completed in this area during Q3 2017.
Hole BKD-122, on the southern boundary of the Northeast zone, is 100 metres northeast of the six holes discussed above and was reported on June 8, 2017. The company will complete additional drilling in this area in Q3 2017.
Going forward — Q3 2017 drill program
The Q3 drill program at Bayan Khundii will focus on follow-up drilling around newly discovered, high-grade mineralization encountered in Q2 to Q3 exploration and on exploring a series of geophysical and geological targets within the two-by-1.8-kilometre Bayan Khundii target area.
In addition, the company will also complete regional drilling between Bayan Khundii and Altan Arrow, and a follow-up drill program at its neighbouring Altan Nar gold-polymetallic project.
The company will also be conducting both regional structural analysis and detailed structural analysis of Bayan Khundii and Altan Nar.
We seek Safe Harbor.
Karen Baxter condensed this news release (email@example.com).
Peter C Akerley, Anna G Biolik, William Bennett Burton, John Philip Byrne, John Christopher Cowan, T Layton Croft, David Vaughn Mosher, Philip L Webster
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