Er­dene drills 36 m of 1.07 g/t Au at Bayan Khundii

Stockwatch Daily - - MINES & METALS - Mr. Peter Ak­er­ley re­ports

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.”

High­lights

• 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 (karenb@stock­watch.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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