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Erdene Announces New Gold Discovery 3.5 km North of the Bayan Khundii Gold Deposit
HALIFAX, Nova Scotia, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) (“Erdene” or the “Company”) is pleased to p
About this update from Erdene Resource Development Corporation
[{"type":"text","content":" HALIFAX, Nova Scotia, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) (“Erdene” or the “Company”) is pleased to provide exploration drilling results from its Dark Horse gold prospect. Highlights1: New high-grade, shallow, gold discovery hosted in a 4 kilometre long structure in the western portion of Dark Horse demonstrates potential for significant gold discoveries near the Bayan Khundii deposit:° AAD-58 returned 45 metres of 5.97 g/t gold beginning at 10 metres down-hole, including 1 metre of 82.5 g/t gold within 8 metres of 27.1 g/t gold° AAD-57, located 180 metres north of AAD-58, returned 16 metres of 0.6 g/t gold beginning at 52 metres down-hole, and 48 metres of 1.2 g/t gold beginning at 194 metres down-hole, including 30 metres of 1.7 g/t gold° AAD-51, collared 1 kilometre north of AAD-57, returned 3 metres of 5.6 g/t gold beginning at 138 metres down-hole and 10 metres of 0.9 g/t gold starting 222 metres downhole° Results are pending for AAD-61, drilled 500 metres north of AAD-57 along the same mineralized trend and AAD-60 drilled 750 metres to the northeast (NE) along the main NE trending Dark Horse structure Gold mineralization is associated with a north-south (N-S) structure traced by its magnetic low signature, local exposures of epithermal breccia and stockwork veining, and gold anomalism in soil° AAD-57 and 58 are located at the intersection of the N-S structure and the NE trending Dark Horse structures with associated large magnetic low and high IP chargeability anomalies, similar to the Bayan Khundii setting • The Bayan Khundii Gold Resource2 includes 521,000 ounces of 3.16 g/t gold Measured and Indicated (“M&I”)3 and 103,000 ounces of Inferred resources at 3.68 g/t gold A significant exploration program is planned for Q1 2021 to follow-up on this exciting discovery 1 Reported intervals in this release are downhole apparent widths. Continued exploration is required to confirm anisotropy of mineralization and true thicknesses2 For details of the Mineral Resources see Khundii Gold Project NI 43-101 Technical Report, Tetra Tech December 4, 20193 M&I: 171,000 ounces of 3.77 g/t gold Measured, and 349,700 ounces of 2.93 g/t gold Indicated Quotes from the Company: “The Dark Horse prospect has been established as th...