Erdene discovers new gold zone at Bayan Khundi Project

Erdene Resource Development Corp. [ERD-TSX] has released the second set of results from continuing drilling at its 100%-owned, high-grade Bayan Khundii gold project in southwest Mongolia. Results confirm a significant new discovery under shallow cover, 170 metres north of the Striker Zone. In addition, drilling continues to support continuity of the high-grade mineralization within the Striker Zone. Results are pending for 12 holes.

Highlights

  • New zone discovered under shallow cover, 170 metres north of Striker Zone (hole BKD-60);
  • Includes 30 metres of 3 g/t gold near the top of the hole;
  • Consistent gold mineralization beginning at 20 metres, averaging 123 metres of 1.3 g/t gold;
  • High-grade intervals with visible gold, up to 19 g/t gold over 1 metre;
  • Confirms significant gold mineralization continues north of the Striker Zone under younger cover;
  • Striker Zone continuity strengthened with 90 metres of 2.5 g/t gold to bottom of hole at 126-metre depth in hole BKD-57, includes 31 metres of 6.8 g/t gold;
  • Western extension of Striker Zone confirmed under cover with 31 metres of 1 g/t gold and five metres of 2.2 g/t gold in holes BKD-59 and BKD-53, respectively;
  • New zone intersected in southwest Striker Zone in hole BKD-55 with 24 metres of 1.3 g/t gold.

The 2016 third quarter/fourth quarter drilling program includes 28 holes drilled since September 5, 2016, totaling 3,518 metres. A total of 73 holes have been completed, totaling 8,097 metres, since the initial holes were drilled in October 2015. Refer to company press release for complete drill results.

Filed in: Gold, Resources

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