Erdene Resource Development Corp. [TSX-ERD] reported drill results from its 100%-owned Altan Nar gold-polymetallic project and Altan Arrow gold-silver project in southwest Mongolia.
- Altan Nar Gold-Polymetallic Project
- Hole TND-101, testing a conceptual target at a structural intersection in the Discovery Zone, intersected:
- 110 m of 9.3 g/t gold, 32 g/t silver, and 1.4% combined lead-zinc, including
- 14 m of 55.6 g/t gold (high of 155 g/t gold), 131 g/t silver and 5.65% combined lead-zinc, and
- 5 m of 24.8 g/t gold (high of 86.5 g/t gold), 49.8 g/t silver and 3.48% combined lead-zinc
- Deep drilling at Discovery Zone North (extension of hole TND-31) confirmed narrow high-grade mineralization at depth
- Union North potential expanded with 22 m of 1.57 g/t gold equivalent* (“AuEq”) at 34 m depth
- Altan Arrow Gold-Silver Project
- Maiden drill program intersected shallow, high-grade veins returning up to 2 m of 23.5 g/t gold and up to 2 m of 171 g/t silver
- Wide intervals of near-surface, lower-grade gold-silver mineralization intersected
- Bayan Khundii Gold Project
- Drilling recently completed for nine holes at Bayan Khundii gold project surrounding heavily mineralized step-out hole BKD-60 announced in October 2016, with results anticipated in January 2017
“Hole TND-101 was heavily mineralized from surface to 170 metres depth, and includes the highest grades and most continuous zone, laterally and vertically, intersected to date at Altan Nar,” said Peter Akerley, Erdene’s President and CEO. “The results are a testament to what detailed exploration can uncover as we continue to test new targets at Altan Nar and throughout the district, while advancing our flagship gold project at Bayan Khundii.”
Refer to company press release for more drilling details.
Future Exploration, Altan Nar Project
The new discovery at the intersection of major structures provides strong support for additional drilling at Altan Nar. Future exploration will focus on establishing continuity of this new high-grade zone and exploring areas where zones of structural dilation, or offset, may have provided a favorable setting for the concentration of these metal-rich solutions over wider intervals. In addition, a high-resolution magnetic survey is planned for Altan Nar and the results will be used to evaluate the potential for similar cross-cutting structures at the 17 other target areas within the mineralized corridor.
Altan Arrow Gold-Silver Project – Discussion of Drill Results
Maiden drilling at the company’s Altan Arrow gold-silver project (13 km southeast of Altan Nar) was designed to test epithermal gold-silver targets previously sampled at surface over a 1 square km area of epithermal quartz veins. Drilling consisted of a total of 590 m in seven holes at an average spacing of 200 m, completed to an average vertical depth of 58 m.
Drill results confirmed the presence of high-grade veins, including 23.5 g/t gold over 2 m at 76 m depth, and up to 171 g/t silver in separate holes. Results also indicate a wide gold-silver mineralized alteration zone associated with the main northeast-trending mineralized structure. The two southwestern holes, spaced at approximately 300 m along the main mineralized structure returned intervals of 28 m of 0.45 g/t AuEq and 17 m of 0.43 g/t AuEq, including values of up to 2.4 g/t gold and 171 g/t silver in AAD-02 and AAD-05, respectively.
These results confirm the presence of both high-grade gold bearing veins and broad structurally controlled lower-grade zones with similar style to the Company’s Bayan Khundii gold project (3.5 km south), albeit with higher silver values. A 2017 follow-up program will include additional exploration of the Altan Arrow prospect as well as follow-up of the large gold-in-soil anomaly.