Drilling at Erdene Resource Development Corp’s Bayan Khundii Gold Project in southwest Mongolia continues to intersect near-surface, high-grade gold. The best result from the latest assays is 8.3 metres from surface @ 14.3 grams/tonne /g/t) gold.
The latest results have continues to expand the near-surface, high-grade gold zones recently identified at Bayan Khundii.
Erdene’s president and CEO Peter Akerley said, “Our quarter 2 exploration program has been a tremendous success, following up on our initial high-grade drill results announced in late 2015.
“We have confirmed continuity of the very high-grade Striker Zone, identified broad zones of gold mineralisation at depth, and under post mineralisation cover, and identified high priority targets through reconnaissance drilling and trenching.
“Following a period of review and interpretation we are planning to return to drilling in quarter 3,” he added.
The latest results include the final five drill holes and six trenches from the quarter 2 exploration program designed to test areas around the periphery of the Bayan Khundii Main Zone and in the Northeast Zone 700 metres to the northeast.
As well as the 8.3 metre intersection 70 metres of 0.40 g/t was returned to the end of the same hole.
In addition to the 3845 metres of diamond drilling, the quarter 2 Bayan Khundii exploration program included infill (25 metre spacing) and reconnaissance (100-200 metre spacing); soil sampling (1088 samples) over specific target areas; 35 line km of IP gradient array geophysical surveys; 20 line km of IP dipole-dipole geophysical surveys; and detailed geologic mapping.
Over the next 60 days, Erdene will complete 3D modelling work on Bayan Khundii, have a structural geologist on site to complete a structural mapping and interpretation program, and complete a spectral mineralogical study, all in advance of the next drill program. In addition, studies to examine the characteristics of mineralisation and alteration at Bayan Khundii have been initiated.
These studies will be reviewed and drilling plans established immediately followed by the commencement of a third round of drilling.