Er­dene Re­source drills 61 m of 4.2 g/t Au at Striker

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

ER­DENE RE­SOURCE De­vel­op­ment Corp. has pro­vided ad­di­tional as­say re­sults from the com­pany’s con­tin­u­ing 2017 ex­plo­ration pro­gram at its 100-per-cent-owned Bayan Khundii gold project in south­west Mon­go­lia.

“Our Bayan Khundii drilling pro­gram con­tin­ues to sup­port the pres­ence of mul­ti­ple, near-sur­face, very high-grade zones out­side of the main Mid­field and Striker zones,” com­mented Peter Ak­er­ley, Er­dene’s pres­i­dent and chief ex­ec­u­tive of­fi­cer. “Re­sults re­ported to­day in­clude many in­ter­vals with ounce to mul­ti­ounce gold in­ter­sec­tions, in­clud­ing some in ar­eas not pre­vi­ously iden­ti­fied as high grade such as north of Mid­field, west of Striker, and near-sur­face be­tween Mid­field and Striker. Ad­di­tion­ally, closer-spaced drilling within the Striker and the Striker-Mid­field ar­eas con­tin­ues to de­liver ex­cel­lent re­sults, con­firm­ing strong continuity of these very high-grade gold do­mains. This, cou­pled with re­cently com­pleted Q4 drilling re­sults at our neigh­bour­ing Al­tan Nar project, and re­cent high-grade sam­pling re­sults north of Bayan Khundii, dis­play the tremen­dous up­side po­ten­tial of this new district.”

(See ERD Ta­ble 1 on page 10)

Re­gional district ex­plo­ration — new high-grade gold north­east of Bayan Khundii

At Al­tan Ar­row, 3.5 kilo­me­tres north of Bayan Khundii, de­tailed soil and rock chip sam­pling has re­turned highly anoma­lous gold, up to 27 g/t in rock chip, in an area south of the main structure. Sur­face sam­pling has also con­firmed the high-grade na­ture of a newly dis­cov­ered area at the

Khundii North tar­get area, 3.2 kilo­me­tres north­east of Bayan Khundii, where Q4 rock chip sam­pling re­turned up to 22 g/t gold from a quartz hematite brec­cia stock­work zone con­tain­ing a sim­i­lar al­ter­ation sig­na­ture to Bayan Khundii.

Q4 2017 drill pro­gram Ad­di­tional Q4 drilling for Bayan Khundii, con­sist­ing of ap­prox­i­mately 1,300 me­tres, is fo­cused on fur­ther defin­ing bound­aries and in­creas­ing con­fi­dence through a se­ries of holes in the Striker, Mid­field and the ar­eas north of Mid­field.

The com­pany has also com­pleted a three-hole, 450me­tre drill pro­gram at the Al­tan Nar de­posit as part of the Q4 drilling pro­gram. A three-hole, 450-me­tre drill pro­gram was also com­pleted within the cen­tral por­tion of the Khundii li­cence as part of the Q4 drill pro­gram.

Ad­di­tional drill re­sults are an­tic­i­pated in Jan­uary, 2018.

2018 re­source es­ti­mate

Dur­ing Q1 2018 the com­pany’s tech­ni­cal team will as­sess the 2017 drill and ex­plo­ration pro­grams and de­ter­mine what ad­di­tional drilling may be re­quired prior to an in­de­pen­dent re­source eval­u­a­tion. Tim­ing of the even­tual re­source stud­ies for both Bayan Khundii and Al­tan Nar will be in­flu­enced by that de­ter­mi­na­tion; how­ever, it is an­tic­i­pated that the stud­ies will be com­pleted be­tween Q2 and Q3 2018.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Peter C Ak­er­ley, Anna G Bi­o­lik, Wil­liam Ben­nett Bur­ton, John Philip Byrne, John Christopher Cowan, Thomas Lay­ton Croft, David Vaughn Mosher, Philip L Web­ster

(ERD) Shares: 145,963,086

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