Erdene Resource Development Corp. [ERD-TSX; ERDCF-OTC] has released results for the third series of drill holes from its second quarter 2018 drill program at the company’s 100%-owned Bayan Khundii gold project in southwest Mongolia.
“The final results from our Q2 Bayan Khundii drill program have successfully confirmed both strike and depth extensions of mineralized zones throughout the Bayan Khundii gold system which will aid the resource estimation exercise,” said Peter Akerley, Erdene’s President and CEO. “We have now commenced work on the maiden independent Bayan Khundii mineral resource. In addition, ongoing exploration work on our exploration licences in the surrounding Khundii Gold district, including a current drilling program in the central part of the greater Bayan Khundii licence, continues to provide encouraging results, which bodes well for future discovery of additional mineralization within the newly defined Khundii Gold district.”
- North Midfield zone extension to the northeast continued to demonstrate potential for a large, high-grade zone in the northernmost portion of the Bayan Khundii gold system BKD-254 returned 81.4 metres of 2.6 g/t gold, including 17 metres of 9.2 g/t gold;
- Testing of the intersecting structures at Midfield zone continued to provide strong results on the eastern side of the target area: 51.8 metres of 2.8 g/t gold and individual samples up to 86 g/t gold (BKD-251);
- All Bayan Khundii drill results have now been delivered to RPMGlobal, which has commenced work on the maiden Bayan Khundii mineral resource estimate;
- Drilling is under way on multiple reconnaissance drill targets within the greater Bayan Khundii licence area.
Summary of Bayan Khundii drill program
The company’s second quarter 2018 Bayan Khundii drill program, which commenced on April 11, 2018, was designed to test high-priority structural targets, principally within the North Midfield and Midfield zones; complete closer-spaced drilling within the Striker, West Striker, Midfield and North Midfield zones; and to test select areas within the larger 1.4-km trend that demonstrate good potential for establishing additional extensions to gold mineralized zones.
Today’s results are for the third batch of nine holes (BKD-248 to BKD-255) including one hole extension (BKD-145 Ext) for a total of 1,799 metres. The company has completed a total of 4,584 metres at Bayan Khundii in 2018 and a total of 42,656 metres since the project was discovered in 2015.