Intersects 53m Of 3.5 g/t Gold North Of Discovery Hole
Erdene Resource Development Corporation (TSX: ERD) has obtained strong follow-up results at the recent Ulaan gold discovery, located 300m west of the Bayan Khundii gold deposit in Mongolia.
Highlights
- Intersected the broadest intervals of mineralisation in the Khundii Gold District to date, along with local high-grade intervals:
- UDH-14: 216.6 metres of 1.07 g/t gold
- Includes 5 metres of 19.58 g/t gold within 53 metres of 3.55 g/t gold
- Ended in gold mineralization at 404.6 metres
- UDH-15: 364.3 metres of 0.79 g/t gold
- Includes 10 metres of 7.29 g/t gold within 91 metres of 1.98 g/t gold
- Ended in mineralization at 461.3 metres
- UDH-16: 119 metres of 0.59 g/t gold
- UHD-17: 36.3 metres of 2.26 g/t gold
- Ended in 21.6 g/t gold over 2.3 metres at 350.3 metres
- UDH-14: 216.6 metres of 1.07 g/t gold
- Discovery remains open in all directions and at depth
- Assays from four (4) holes, totaling 1,401 metres scheduled to be reported in early Q4.
“The Ulaan prospect has proven to be a major new gold discovery within our Khundii Gold District,” said Peter Akerley, Erdene’s President and CEO.
“The very broad zones of mineralization, exceeding 200 metres, include multiple intersections exceeding 10 g/t gold and demonstrate the potential scale of Ulaan mineralisation, within 300 metres of our Bayan Khundii Gold Deposit. Gold mineralisation at Ulaan is open in all directions, and multiple gold in soil and geophysical anomalies remain untested in areas to the west of the discovery.”
“Drilling at Ulaan and across the Khundii license continues with further results anticipated by mid-Q4,” continued Mr. Akerley. “The confirmation of a significant gold zone at Ulaan, coupled with the recent Dark Horse discovery, Bayan Khundii reserves and resources at our Altan Nar property reinforce our thesis that the Khundii Gold District has the potential to host a world class discovery.”
The current Ulaan drilling programme was designed to delineate the extent of mineralisation around the discovery drill holes reported on August 11, 2021.
The programme consisted of nine drill holes totalling 3,204 metres. Drill holes were spaced 25 to 50 metres apart and to a maximum depth of 461 metres, testing targets over an area of approximately 1.2 square kilometres.
Erdene holds a 100% interest in the Ulaan license after acquiring the remaining 49% interest in the property in December 2020. The company acquired an initial 51% stake in the license in 2017, following the discovery of the Bayan Khundii gold deposit.
For further information please visit: https://www.erdene.com/
