The second phase of trenching at Erdene Resource Development Corp’s Altan Nar Gold-Polymetallic Project in southwest Mongolia has resulted in a new gold discovery and returned significant gold and silver mineralization.
The trenching has been completed during the current quarter with results received for an additional 11 of the 28 trenches completed. The trenching program was designed to test 10 distinct mineralized zones across the 5.5km-long Altan Nar target area. Samples from the final 13 trenches over the central Altan Nar prospect area have been submitted to SGS laboratories with results anticipated during first quarter of 2014.
Highlights from the 11 trenches are:
- Discovery of a new high-grade gold mineralized zone 1km north of Discovery Zone (Maggie prospect)
- Significant gold mineralization (Northbow prospect) identified in the northern portion of a previously untested, 700 metre-long, IP chargeability anomaly, that widens and intensifies to the south
- Gold and base metal mineralized zones confirmed at north-western and south-eastern extent of the 5.5km-long Altan Nar target area (Northwest and Far South prospects)
- All 11 trenches, testing six distinct targets, returned highly anomalous precious and base metal mineralization.
The second phase of trench results tested six distinct prospects within the target area. Only two of these prospects had been previously tested, each by a single shallow drill hole (True North and Northfield). Significant discoveries were made at the Maggie, Northbow, Northwest, Northfield and Far South prospects while trenching at True North confirmed mineralization observed in previous drilling.
Also on the Altan Nar licence is the Oyuut Khundi copper prospect. Three trenches were excavated over an 80 metre strike length at this prospect, about 3km southwest of the Discovery Zone. Two of the trenches reached bedrock and uncovered a 5 to 8 metre-wide zone of quartz veining and phyllic alteration of felsic volcanics with highly anomalous copper and gold.