Erdene provides project review and financial result

2015-11-18 10:23 GMT+8

Canadian-based Erdene Resource Development Corp listed on TSX and operating in Mongolia provides an update on the Company’s principle metals projects in southwest Mongolia in conjunction with its September 30, 2015 third quarter financial results.

Altan Nar Gold-Polymetallic Project (100% Erdene)

  • Infill drilling at Discovery Zone supported continuity of high-grade mineralized zone with 9 
m of 9.2 g/t gold equivalent within 50 m of surface (hole TND-92)
  • Infill drilling at Union North returned multiple mineralized zones including 8.9 m of 6.2 g/t 
AuEq within 36 m of surface (hole TND-81)
  • Trenching at UN extended the mineralized zone by approximately 200 m to the east with a step-out 
trench that returned 28.5 m of 2.5 g/t AuEq (trench ANT-21)
  • Metallurgical testwork at DZ returned high gold recoveries of up to 88% using conventional 
processing methods

Bayan Khundii Gold Discovery (100% Erdene)

  • New gold discovery made in Q2 2015, located 15 km south of Altan Nar
  • Initial surface sampling program revealed visible gold in multiple locations and returned highly 
anomalous results from multiple samples (20% returning over 3 g/t gold, and up to 4,380 g/t gold)
  • First pass trenching program identified four separate zones, 10 to 30 m wide, averaging 2.3 to 2.9 g/t 
gold (including up to 1 m of 55 g/t gold)
  • Maiden drill program commenced November 8, 2015 targeting high-grade extensions of 
mineralization at depth 

Khuvyn Khar Copper Project (Option Agreement with Tian Poh Resources)

  • 1000 m drill program completed in Q3
  • Program funded by Tian Poh pursuant to option agreement with Erdene
  • Drill results included 192 m of 0.10% copper, with multiple zones exceeding 0.20% copper 

Teck Resources Limited (“Teck”) Alliance

• Regional exploration program, including initial reconnaissance of new exploration licenses, 
completed in Q3

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