Erdene discovered the Dark Horse prospect area on a previously underexplored portion of the Khundii Mining License in August 2019.

Since 2019, the company has conducted mapping and sampling, trenching, and drilling. The company considers Dark Horse “the most significant area of gold mineralization” in the Khundii Gold District.

In total, Erdene has completed over 12,000 metres of drilling in 94 holes at the prospect.

Multiple holes intersected high-grade mineralization along strike and down dip in the southern portion of Dark Horse Mane.

Today, the company announced that crews have intersected 5.86 g/t gold over 27 metres and 5.63 g/t gold over 30 metres.

Peter Akerley, Erdene’s president and CEO, commented on the results.

“These exceptional results of high-grade, near-surface oxide gold just 3.5 kilometres north of the Bayan Khundii gold deposit lend support for our mine development and demonstrate the prospectivity of the Khundii Gold District,” he said.

With exploration drilling continuing, he added, “our team will commence a detailed geophysical program in the coming weeks to define deeper targets along the entire 1.4-kilometre Dark Horse Mane zone for drill testing in Q3.”

The company’ plans include establishing a resource estimate for the Dark Horse prospect.

Erdene Resource Development Corp. is a Canadian resource exploration company engaged in the exploration and development of precious metals and mineral deposits in Mongolia.

Erdene Resource Development Corporation (ERD) is up 4.76 per cent, trading at $0.44 per share as of 10:39 am ET.