Additional results from analysis of Erdene Resource Development Corp's new porphyry copper discovery on the Zuun Mod project in south-western Mongolia have revealed silver mineralization as well as copper and molybdenum.
The results include 34 metres from 308 metres @ 9.24 grams/tonne silver with 1.3% copper and 0.013% moly, including 10 metres from 310 metres @ 3.1% copper and 22.2 grams/tonne silver.
Erdene's president and CEO Peter Akerley says, “Our encouragement from the initial copper discovery strengthened considerably with confirmation that the previously reported intersection also contains silver.
“We believe the Zuun Mod complex has tremendous additional mineral potential and we eagerly await the results of an expanded drill program that will begin in early April.”
As part of a recent exploratory drilling program at Zuun Mod, three vertical holes were completed to test geophysical and geochemical targets outside the area of the main molybdenum-copper deposit.
A drill rig remains on site and a follow-up program is being designed for the resumption of drilling of a significant geophysical target in the vicinity of the discovery hole in early April.
At the Khuvyn Khar copper prospect in the north-central portion of Zuun Mod, one hole intersected a new copper/silver zone at 308 metres depth coincident with both a dipole-dipole chargeability high and an RTP (reduced to pole) magnetic low geophysical signature.
The Khuvyn Khar prospect remains untested below 378 metres depth and is open to the north, south and west. To the east, two previously drilled holes, returned 0.10% copper over 26 metres and 152 metres of 0.16% copper, including 32 metres of 0.22% copper, respectively.
Erdene controls the Zuun Mod deposit through a single exploration licence totalling 30,650 hectares, located in Bayankhongor Province, about 950km southwest of Ulaanbaatar and 215km from a railhead on the Mongolia-China border at Ceke.