- Erdene Resource Development Corporation (ERD) has announced an update on its exploration program at the Dark Horse Gold Prospect and the Bayan Khundii Gold Project
- Erdene also began developing a series of training and community outreach programs to support the Bayan Khundii Gold Project’s construction
- A construction decision is expected in mid-2021
- Erdene Resource Development is a Canadian-based resource exploration company focused primarily on the exploration and development of precious metals and mineral deposits in Mongolia
- Erdene (ERD) is down 1.30 per cent and is currently trading at C$0.38 per share
Erdene Resource Development Corporation (ERD) has announced an update on its exploration program at the Dark Horse Gold Prospect and the Bayan Khundii Gold Project.
Nine holes were drilled at the Dark Horse Prospect totalling 1,900 metres. The drill program was completed by Falcon Drilling.
Additionally, a technical team completed detailed surface mapping and sampling of the prospect.
Of the nine holes, four holes showed signs of gold but nothing greater than 0.3 g/tonne.
Two holes drilled in the northern portion of the prospect intersected multiple gold-bearing zones with grades ranging from 1.3-1.7 g/tonne, while one further hole drilled south of a previous drill project returned narrow anomalous gold zones.
These three holes have successfully demonstrated continuity of mineralization along the north-south strike, indicating the Dark Horse structure as a preferred fluid conduit.
Peter Akerley, Erdene’s President and CEO, commented,
“This Q1 program confirmed continuity of a gold mineralized system along a 1.2 km north-south trending structure and improved our understanding of the discovery and its setting relative to the Bayan Khundii Deposit and the large Ulaan-Khundii alteration system, which we believe hosts a much more significant gold mineralizing event and hydrothermal alteration system than previously recognized.”
In addition to the drill programs completed at the projects, Erdene also began developing a series of training and community outreach programs to support the Bayan Khundii Gold Project’s construction.
These programs include the company’s employment orientation, internship, and vocational training opportunities, initially targeting local residents in the sub-province and province.
The company continues to monitor the impact of COVID-19 on its operations in 2021, particularly potential disruptions to the Bayan Khundii Gold Project schedule or budget, prior to reaching a construction decision, which is expected in mid-2021.
Erdene Resource Development is a Canadian-based resource exploration company primarily engaged in the exploration and development of precious metals and mineral deposits in Mongolia.
Erdene (ERD) is down 1.30 per cent and is currently trading at C$0.38 per share as of 3:57 pm ET.