Erdene Resource Development Corp. reports that the resource drilling program at its wholly-owned Altan Nar gold-polymetallic exploration project in southwest Mongolia has confirmed continuity of near-surface, high-grade mineralization. Erdene President and CEO Peter Akerley said, “In addition to the significant grade and size potential of individual targets, what continues to be most impressive about Altan Nar is the high frequency of mineralized zones encountered throughout the 5.6-km-long district, indicating that Altan Nar has tremendous potential for the discovery of additional mineralized zones.”
Erdene discovered the Altan Nar mineralization in late 2011. Since that time, the company has completed 62 holes for a total of 10,997 m of diamond drilling and 39 trenches for a total of 2,927 m, establishing Altan Nar as a significant new gold-silver-lead-zinc mineralized system. A total of 18 mineralized target areas have been identified. Two of the early discoveries, the Discovery Zone and Union North, have been the subject of recent detailed work.
RungePincockMinarco LLC is completing a mineral resource estimate for the Discovery Zone and Union North. On delivery of the estimate, Erdene intends to evaluate near-term development options. Recommendations from the RungePincockMinarco work are expected to include metallurgical and process test work, discussions with refiners and smelters regarding the processing of concentrate in the early development phase, bulk sampling, and environmental and permitting work, in addition to expanding the mineral resources through additional exploration.
Erdene is a Canadian company headquartered in Dartmouth, Nova Scotia, and listed on the Toronto Stock Exchange.