Erdene Resource Development Corp has received final assay results for the phase three trenching program it conducted in the fourth quarter of 2013 at the Altan Nar gold-polymetallic project in southwest Mongolia. The trenching intersected multiple high grade gold and base metal zones.
At Union North prospect results confirm a minimum 150 metre strike, open in both directions, centred on high grade mineralized shoots with up to 19 metres @ 8.9 grams/tonne gold, 66 grams/tonne silver, 7.7% lead and 2.5% zinc, including 7 metres @ 20.2 grams/tonne gold, 138 grams/tonne silver, 17% lead and 5% zinc.
At Union South trenching returned 10 metres @ 4.5 grams/tonne gold, 9 grams/tonne silver, and 2.2% lead, opening up greater than 500 metres of strike length between the Union North and South zones.
Riverside trench results indicate intensifying mineralization in the north with 14 metres @ 1.4 grams/tonne gold. It potentially forms a structural intersection with Union North
Altan Nar now hosts five large, distinct, well mineralized structures in Union North and South, Discovery Zone, Riverside, Maggie, Northbow and Southbow, with multiple areas requiring additional exploration.
“We are extremely pleased with the results generated from this program. We have discovered multiple new zones, broad areas of mineralization, confirmed that the potential for new discoveries extends over the 5.5km strike length, and have identified high-grade mineralized shoots,” says Erdene’s president and CEO Peter Akerley.
“There is little question that Altan Nar not only has the potential for multiple, bulk mineable open pits with high grade shoots, but now represents one of the most significant metal discoveries in Mongolia since Oyu Tolgoi in the mid-1990s. We will now accelerate our efforts for the 2014 exploration season and move this very exciting project towards early development.”
Erdene Resource Development Corp is a Canada-based resource company focused on the acquisition, exploration, and development of base and precious metals in underexplored and highly prospective Mongolia.