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Erdene Files NI 43-101 Technical Report for its Mineral Resource Estimate on the Altan Nar Gold-Polymetallic Project
HALIFAX, Nova Scotia, June 25, 2018 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company") announces the filing of an independe
About this update from Erdene Resource Development Corporation
[{"type":"text","content":" HALIFAX, Nova Scotia, June 25, 2018 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD) (\"Erdene\" or \"Company\") announces the filing of an independent technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) on its 100%-owned Altan Nar gold-polymetallic deposit (“Altan Nar”) in southwest Mongolia. The technical report, titled “Altan Nar Gold Project, Bayankhongor Aimag, Southwest Mongolia, National Instrument 43-101 Mineral Resource Technical Report” and dated June 21, 2018, (the “Altan Nar June 2018 Resource Report”) has been prepared by RPMGlobal (“RPM”), and is available on SEDAR (www.sedar.com) under Erdene’s issuer profile. RPM is the world’s largest publicly traded independent group of mining technical experts, with local expertise in all mining regions and experienced across all commodities and mining methods. The Altan Nar June 2018 Resource Report provides details and technical information related to the disclosure of the updated Altan Nar Mineral Resource first announced by the Company on May 10, 2018 (link to press release). About the Altan Nar Gold-Polymetallic Deposit The Altan Nar deposit is located in southwest Mongolia, within The Khundii Gold District, approximately 16 kilometres northwest of the Company’s flagship Bayan Khundii gold project, which the Company is advancing toward a maiden resource estimate in late Q3-2018. The Altan Nar Mineral Resource defined by Erdene comprises 5.0 million tonnes at 2.8 g/t gold equivalent (2.0 g/t gold, 14.8 g/t silver and 1.2% combined lead and zinc) for a total of 452,900 gold equivalent ounces in the Indicated category, and 3.4 million tonnes at 2.5 g/t gold equivalent (1.7 g/t gold, 7.9 g/t silver and 1.4% combined lead and zinc) for a total of 277,100 gold equivalent ounces in the Inferred category. Gold equivalent calculations assume metal prices of US $1,310 per ounce gold, US $18 per ounce silver, US $2,400 per tonne lead and US $3,100 per tonne zinc, as well as processing recoveries of 88% for gold, 81% for silver, 81% for lead and 60% for zinc. The Altan Nar Mineral Resource estimate increased by 208% gold equivalent ounces in the Indicated category and by 172% gold equivalent ounces in the Inferred category, compared to the Company’s March 2015 Altan Nar maiden mi...