DRILLING at Erdene Resource Development Corp’s Altan Nar Gold-Polymetallic Project has returned strong results, including 110 metres of 9.3 g/t gold, 32 g/t silver and 1.4% combined lead-zinc. This hole was testing a conceptual target at a structural intersection in the Discovery Zone (DZ).
|Visible gold in core from a drill hole at the Bayan Khundii project in southwest Mongolia.|
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.
“The hole was heavily mineralised from surface to 170 metres, and includes the highest grades and most continuous zone, laterally and vertically, intersected to date at Altan Nar,” said Erdene president and CEO Peter Akerley.
DZ is one of 18 mineralised target areas identified within a 5.6km by 1.5km mineralised corridor. DZ has been drilled over a 500 metre strike length in the upper 150 metres, however was not fully tested in the central area due to initial low-grade results. The new hole was in the central area.
The discovery at the intersection of major structures provides strong support for additional drilling. Future exploration will focus on establishing continuity of this new high-grade zone and exploring areas where zones of structural dilation may have provided a favourable setting for concentration of metal-rich solutions. A high-resolution magnetic survey is also planned to evaluate the potential for similar cross-cutting structures at the 17 other target areas.
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 maiden drill program at Altan Arrow prospect, 13km to the southeast, 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.
Results confirm the presence of high-grade gold-bearing veins and broad structurally controlled lower-grade zones with similar style to the Bayan Khundii Gold Project, 3.5km to the south, albeit with higher silver values. A follow-up program will include additional exploration as well as follow-up of a large gold-in-soil anomaly.
At Bayan Khundii recent drilling has expanded the new Midfield gold zone under younger cover, 200 metres northeast of the main Striker gold zone.