Erdene Resource Development Corp has received additional positive assay results from the ongoing 2017 drill program at its Bayan Khundii Gold Project in southwest Mongolia. Step-out drilling north of the Midfield Zone has returned several high-grade intersections.
Five holes totalling 1120 metres were completed north of the Midfield Zone, with four of those holes returning significant gold mineralisation. Consistent with other areas of Bayan Khundii, drilling results have revealed the presence of very high-grade gold veins within broad mineralised envelopes of lower grade mineralisation.
The best recent results were 40 metres @ 3.3 g/t gold, including 9 metres @ 12.5 g/t, 165 metres north of the zone; 71.6 metres @ 1.6 g/t, including 19 metres @ 4.6 g/t, 80 metres north of the Midfield Zone; and 39 metres @ 2.1 g/t, including 9 metres @ 8.2 g/t, 200 metres north of the zone.
The ongoing Q# and Q4 drilling program will include testing of six target areas in the broader 2km by 1.8km Bayan Khundii prospect area, as well as continued definition of recently discovered targets north of Midfield Zone and west of Striker-Midfield zones with closer-spaced drilling.
Three drill rigs are operational, including one rig conducting a hydro-geologic program, with drill results to continue throughout Q3 and Q4.
Erdene’s president and CEO Peter Akerley said, “We are very pleased to have this continued level of success in step-out drilling north of Midfield where we are starting to see a sizeable system take shape under cover.
“Although we are still in the early stages of defining Bayan Khundii’s true extent, we are consistently adding to the size potential of this newly discovered gold system.
“We envision a productive third and fourth quarter, as we continue to test newly discovered, high-grade mineralisation encountered in Q2-Q3, as well as a series of geophysical and geochemical targets within the larger Bayan Khundii prospect area.
“This work will be completed in conjunction with our ongoing regional, district-scale exploration program that includes continued drilling of our neighboring Altan Nar and Altan Arrow gold projects.”