Erdene Resource Development Corp has received the second set of results from ongoing drilling at its high-grade Bayan Khundii gold project in southwest Mongolia. The results confirm a significant new discovery under shallow cover, 170 metres north of the Striker Zone.

In the new zone the drilling has returned consistent gold mineralisation beginning at 20 metres and averaging 123 metres @ 1.3 g/t gold. This includes 30 metres @ 3.0 g/t near the top of the hole. There were high-grade intervals with visible gold of up to 19 g/t over 1 metre.

In addition, drilling continues to support continuity of the high-grade mineralisation within the Striker Zone. Results here included 90 metres @ 2.5 g/t to the bottom of the hole at 126 metres in depth. This included 31 metres @ 6.8 g/t.

The western extension of the Striker Zone was confirmed under cover in two holes with 31 metres @ 1.0 g/t and 5 metres @ 2.2 g/t. A new zone was also intersected southwest of this zone with an intersection of 24 metres @ 1.3 g/t.

The company’s Q3-Q4 drilling program includes 28 holes drilled since September 5, totalling 3518 metres. A total of 73 holes have been completed, totalling 8097 metres, since the initial holes were drilled in October 2015.

The drill program will recommence on October 21 and will continue through to mid-December. Drill targeting will be based on results of current drilling and the results from the independent technical evaluation studies completed in Q3 2016.

The remaining, expanded program is expected to consist of a further 5500 metres of drilling including an additional 2000 metres at Bayan Khundii; 3000 metres of resource expansion and scout drilling along the 5.6km-long mineralized trend at the Altan Nar Gold-Polymetallic Project, 19km northwest of Bayan Khundii; and a 500 metre initial drill program to test newly identified targets at the Altan Arrow gold prospect, 3.5km north of Bayan Khundii.



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