Erdene Resource Development Corp has received strong results from drilling at Altan Nar Gold-Polymetallic Project and Altan Arrow Gold-Silver Project in southwest Mongolia. The results include 110 metres of 9.3 g/t gold, 32 g/t silver and 1.4% combined lead-zinc at Altan Nar.
The hole that returned this intersection was testing a conceptual target at a structural intersection in the Discovery Zone (DZ). The 110 metres included 14 metres @ 55.6 g/t gold and a high of 155 g/t, 131 g/t silver and 5.65% combined lead-zinc; and 5 metres @ 24.8 g/t gold with a high of 86.5 g/t, 49.8 g/t silver and 3.48% combined lead-zinc.
Also at Altan Nar deep drilling at Discovery Zone North confirmed narrow high-grade mineralisation at depth while the Union North potential was expanded with 22 metres from 34 metres @ 1.57 g/t gold equivalent.
The DZ deposit is one of 18 mineralised target areas that have been identified within a 5.6km by 1.5km mineralized corridor at Altan Nar. The deposit has been drilled over a 500 metre strike length in the upper 150 metres of the DZ, however, the deposit was not fully tested in the central area, due to initial low-grade results. The conceptual target tested by the new drill hole was in this central area.
The new discovery at the intersection of major structures provides strong support for additional drilling at Altan Nar. Future exploration will focus on establishing continuity of this new high-grade zone and exploring areas where zones of structural dilation, or offset, may have provided a favourable setting for the concentration of these metal-rich solutions over wider intervals.
In addition, a high-resolution magnetic survey is planned for Altan Nar and the results will be used to evaluate the potential for similar cross-cutting structures at the 17 other target areas within the mineralised corridor.
The maiden drill program at Altan Arrow, 13 km southeast of Altan Nar, intersected shallow, high-grade veins returning up to 2 metres @ 23.5 g/t gold and up to 2 metres @ 171 g/t silver. There were wide intervals of near-surface, lower-grade gold-silver mineralisation intersected.
The program was designed to test epithermal gold-silver targets previously sampled at surface over a 1sqkm area of epithermal quartz veins. Drilling consisted of 590 metres in seven holes at an average spacing of 200 metres, completed to an average vertical depth of 58 metres.
These results confirm the presence of both high-grade gold bearing veins and broad structurally controlled lower-grade zones with similar style to the Bayan Khundii Gold Project, which is 3.5km to the south, albeit with higher silver values. A 2017 follow-up program will include additional exploration of Altan Arrow as well as follow-up of the large gold-in-soil anomaly displayed in the attached map.
At Bayan Khundii drilling of nine holes was recently completed surrounding the heavily mineralised step-out hole which was announced in October 2016. Results from these holes are anticipated in January 2017.
“The Altan Nar hole was heavily mineralised from surface to 170 metres depth, and includes the highest grades and most continuous zone, laterally and vertically, intersected to date at Altan Nar,” said Erdene’s president and CEO Peter Akerley.
“The results are a testament to what detailed exploration can uncover as we continue to test new targets at Altan Nar and throughout the district, while advancing our flagship gold project at Bayan Khundii.”