Stock value of Erdene Resource Development Corp. surges 8.99 percent

The stock value of Erdene Resource Development Corp., listed on the Toronto Stock Exchange, surged 8.99 percent in the last five days following commencement of its 24,000-meter drilling operations at the Bayan Khundii and Altan Nar gold mining projects.

The two mine sites are situated in the Oyu Tolgoi Tsagaan Suvarga belt, and have a high chance of yeilding high gold deposits.

On April 13, Erdene Resource announced the commencement of its 2017 drill program at Bayan Khundii. The program will consist of ap- proximately 20,000 meters of diamond drilling at Bayan Khundii and an additional 4,000 meters at its neighboring Altan Nar and Altan Arrow gold projects.

The company stated that reporting of drill results will commence by late May and continue at regular intervals through late Q3'17. A follow-up drill program will be implemented in Q4, based on a review of the Q2/Q3 Phase I results. Erdene’s 2017 exploration program will also include additional metallurgical testing, as well as hydro geological, environmental, geotechnical, and preliminary economic studies related to the Bayan Khundii and Altan Nar projects.