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Erdene Initiates Definition Drilling Program at its Zuun Mod Molybdenum Project
Erdene Initiates Definition Drilling Program at its Zuun Mod Molybdenum Project.
About this update from Erdene Resource Development Corporation
[{"type":"text","content":"\n\n\n\n\nProvides Update on Base and Precious Metals Exploration Programs\n\nHALIFAX, Nov. 24 /CNW/ - Erdene Gold Inc. (TSXV:ERD) today announced it\nhas initiated a definition drill program at Zuun Mod, its molybdenum-copper\nproject in Mongolia. The Company also provided an update on its precious and\nbase metal exploration programs in Mongolia.\n\nZuun Mod Molybdenum-Copper Project\n\nDrilling resumed this week in the Racetrack Zone of the three kilometre\nlong Southeast Corridor. An independent Consultant recently concluded that the\nZuun Mod molybdenum-copper exploration project merits a resource definition\ndrilling program to establish the resource potential of previously delineated\nmolybdenum mineralized areas within the Stockwork and Racetrack Zones.\nPrevious drilling in the Racetrack Zone included hole ZMD-11, which\nintersected 340 metres of 0.08% MoS2 (0.05% molybdenum) within which 52 metres\naveraged 0.13% MoS2 (0.08% molybdenum), and KKMD-08, located 255 metres to the\nnorth which returned 160 metres of 0.10% MoS2 (0.06% molybdenum) and ended in\nmineralization at 279 metres.\nDrilling will then move to the Stockwork (1.5 kilometres southwest of \nZMD-11) and Intersection Zones (one kilometre northeast of ZMD-11). The most\nsignificant hole in the Stockwork Zone, drill hole KKMD-03, intersected\n236 metres of 0.10% MoS2 (0.06% molybdenum) beginning at 90 metres depth and\nending in mineralization at 326 metres. Included within this 236 metre\nintersection were 28 metres averaging 0.20% MoS2 (0.12% molybdenum). This zone\nremains open from KKMD-03 to the south and is bounded to the north by lower\ngrade mineralization.\nThe Stockwork (formerly the Southeast Zone) and Racetrack Zones each\ncover target areas of approximately 600 metres by 400-600 metres. Drilling is\nexpected to continue through to mid-December. It is anticipated that a minimum\nof 2000 metres can be completed by the end of 2005 with results to be reported\nearly in 2006. The definition drilling program will resume in 2006. The\nobjective of the current drill program is to establish lateral continuity from\nmolybdenum mineralized zones intersected in previous drilling and to test for\nshallower mineralization to enhance potential open-pit economics. The\nStockwork and Racetrack Zones have the potential to contain resources of\nsufficient tonnage ...