Erdene Resource Development Corp has reached the mid-point of its initial 2017 drill campaign at the Bayan Khundii Gold Project in southwest Mongolia. The program has defined several new areas that will require definition drilling, particularly west and east of Striker, the Northeast Zone, and importantly north and west of Midfield.
The company’s president and CEO Peter Akerley says, “It is very encouraging to continue to intersect broad zones of gold mineralisation along the margins of the established 1.3km by 500 metre mineralised trend.”
Highlights of the program to date include:
· Success from step-out drilling and geophysical surveys leads to an expanded target area at Bayan Khundii;
· Drilling west of the Striker and Midfield zones returns multiple, high-grade, 1-metre intervals between 10 g/t and 22 g/t gold;
· Drilling up to 150 metres west of the Striker Zone returns multiple gold mineralised intersections over a 250-metre by 200-metre area, including 28 metres of 1.4 g/t; and
· Drilling west of Midfield Zone returns 36 metres of 1.1 g/t gold.
“As we continue to expand outward from that area in Q3 we will be testing six new target areas up to 1km from the original discovery at Striker Zone,” Peter Akerley says.
“In addition, as drilling progresses through Q3, we will move into the untested 3.5km-long gold-in-soil anomaly that continues north to Altan Arrow, and ultimately return to drilling at our Altan Nar project, 16km to the northwest.”
During this quarter Erdene will drill five untested targets and continue its definition of new targets north and east of the Midfield and Striker zones with closer-spaced drilling.
The Q3 program will focus on follow-up drilling around newly discovered, high-grade mineralisation encountered in Q2-Q3 exploration and on exploring a series of geophysical and geological targets within the 2km by 1.8km Bayan Khundii target area.
In advance of this drilling, additional geophysical work was completed in Q2-Q3, including induced polarisation dipole-dipole and ground magnetic surveys that have further defined the new target areas. Approximately 10,000 metres of drilling remains in the current 24,000 metre program.
The company will also complete regional drilling between Bayan Khundii and Altan Arrow and a follow-up drill program at its neighboring Altan Nar gold-polymetallic project
In addition to the drilling, the company will also conduct regional structural analysis and detailed structural analysis of Bayan Khundii and Altan Nar projects. Petrographic analysis will also be completed on a suite of samples to provide additional information pertaining to the petrogenesis of the company’s projects.
Additional interpretation of geophysical data, especially induced polarisation and magnetic surveys results, will also be conducted by third party consultants using recently-generated physical property data for a representative suite of samples from the Bayan Khundii project.