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Erdene Intersects 112 Metres of 5.9 g/t Gold at the Khundii Gold Project and Discovers High-Grade Gold in Previously Untested Area
HALIFAX, Nova Scotia, May 13, 2019 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) ("Erdene" or the "Company") is pleased to announce
About this update from Erdene Resource Development Corporation
[{"type":"text","content":" HALIFAX, Nova Scotia, May 13, 2019 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) (\"Erdene\" or the \"Company\") is pleased to announce the results of the Q2 2019 drill program at its 100%-owned Khundii Gold Project (“Khundii Project”). This 1,800 metre program was conducted in April 2019 to increase confidence in the resource, confirm ultra-high gold grades and expand Bayan Khundii mineralization in support of the recently launched Pre-Feasibility Study (“PFS”) led by Tetra Tech, Inc., a global engineering firm. “Results from this drill program, including the intersection of 112 metres grading 5.9 g/t gold at Midfield, are amongst the strongest we’ve encountered and confirm the continuity of high-grade mineralization from near surface in the heart of the Bayan Khundii deposit,” said Peter Akerley, Erdene’s President and CEO. “Additionally, the discovery of high-grade gold in a previously untested area of the deposit is very encouraging for future exploration.” “These results confirm the exceptional high grades associated with this near-surface deposit and demonstrate the potential for pit and resource expansion,” continued Mr. Akerley. “These results will be incorporated into the mineral reserve estimation workstream of the PFS and will also assist in planning the next phase of our 2019 exploration drilling program in the vicinity of the deposit and in prospective areas within the Khundii District.” Highlights (see attached figures for reference) • Confirmed strong continuity in the high-grade Midfield zone, starting near surface Intersected 112 metres of 5.9 g/t gold, with 8 metres of 45 g/t gold, including samples of 81, 95 and 129 g/t gold (BKD-261) Discovered a very high-grade zone beginning 7 metres from surface in Midfield with 14 metres of 14 g/t gold, including 1 metre of 147 g/t gold (BKD-262) • Established continuity of the high-grade zone into the upper portion of Midfield North Drilled 23 metres of 4.4 g/t gold beginning at 85 metres vertical depth (BKD-260) Intersected 2 metres of 39 g/t gold below the proposed pit limits (BKD-259) • Extended mineralization towards surface and at depth in Striker West Detected mineralization 210 metres west of the proposed pit boundary, with 3 metres of 40 g/t gold at 136 metres vertical depth (BKD-265) Intersected a 16-metre zone of 1.1 g/t g...