An additional round of drilling at Erdene Resource Development’s Altan Nar gold project in southwest Mongolia is under way, with several new targets to be tested over a 5km strike length. “Results from Altan Nar continue to surpass our expectations with recently completed surveys having identified multiple new drill targets,” says Erdene’s president Peter Akerley.
“With this round of drilling, we are targeting areas along a 5k strike length with a coincident geochemical and geophysical signature similar to the one over the Discovery Zone where we have drilled off an area of significant gold-bearing epithermal mineralization.”
The drill program will include up to 20 shallow holes over 2500 metres. The 15 exploration targets have been identified outside the area drill-tested to date, which significantly expands the potential of identifying additional gold-bearing epithermal mineralization on the property.
The objective of this new phase of drilling is to determine which of these multiple target areas warrant detailed follow-up drilling, in addition to infill drilling at the Discovery Zone, and the prioritization of such drilling. The results from the detailed follow-up drilling program will be used for an NI 43-101 compliant resource estimate for the project.
Previous drilling in the Discovery Zone has intersected multiple, shallow mineralized zones greater than 30 metres grading more than 1 gram/tonne gold. Results at the south end of the zone included 29 metres @ 4.3 grams/tonne gold and 24.1 grams/tonne silver. Drilling at the northern end intersected a broad mineralized zone that included 29 metres of 1.1 grams/tonne gold and higher grade zones including 4 metres of 10.5 grams/tonne gold and 56 grams/tonne silver.
The recently completed detailed soil geochemical survey, in conjunction with surface rock chip sampling that has generated assay results commonly in the range of 1 gram/tonne gold to 27 grams/tonne gold, has identified multiple gold and associated metal anomalies. Of the 249 rock chip samples collected, 135 samples averaged 2.2 g/t gold.