Erdene Resource drills 61 m of 4.2 g/t Au at Striker
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 ([email protected]watch.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
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