Business
Erdene Resource Announces Q1-2022 Results and Provides Khundii Gold District Update
HALIFAX, Nova Scotia, May 12, 2022 (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 12, 2022 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) (\"Erdene\" or the \"Company\") is pleased to announce operating and financial results for the three months ended March 31, 2022 and to provide an update on its Khundii Gold District, including its Bayan Khundii Gold Project (“Bayan Khundii” or “BK”). This release should be read in conjunction with the Company’s Q1-2022 Financial Statements and MD&A, available on the Company’s website and SEDAR. Quotes from the Company: “During the first quarter of 2022, we made further progress on our objectives of expanding the Khundii Gold District, while progressing the Bayan Khundii Gold Project towards development,” said Peter Akerley, Erdene’s President and CEO. “We’ve recently launched the first phase of our 2022 drill program, that will follow up on our 2021 discoveries at the Dark Horse Mane and Ulaan Southeast prospects. These discoveries support Erdene’s thesis that our Khundii District trend has the potential to host a multimillion-ounce gold deposit, which could significantly increase gold production from the Bayan Khundii Gold Project.” “We also made solid progress advancing Bayan Khundii towards a construction decision, despite the continued impact of COVID-19,” continued Mr. Akerley. “Engineering and design work is largely complete and procurement is well advanced in advance of a construction decision. We’ve also begun conceptual design work to determine the potential impact of a scale up in production in advance of the commencement of full construction.” Q1-2022 Highlights and Significant Subsequent Events: Bayan Khundii Gold Project – 100% Erdene Progressed construction readiness activities for the Bayan Khundii Gold Project: Early works completed including camp expansion, communications infrastructure installation and project controls software implementation Re-pricing and tender for all major mechanical and construction works well advanced, with anticipated completion in Q2 2022 Preferred vendors selected for Engineering, Procurement and Construction Management (“EPCM”) and non-process infrastructure, including camp, warehouse and workshop Key personnel onboarded and project execution plans and manuals prepared in advance of a construction decision Initiated confirmatory studies for mine water supply, with result...