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Erdene Resource Announces Q2 2021 Financial Results and Provides Bayan Khundii Gold Project Update
HALIFAX, Nova Scotia, Aug. 16, 2021 (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, Aug. 16, 2021 (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 June 30, 2021, and to provide an update on its Bayan Khundii Gold Project (“Bayan Khundii” or “BK”), including the results of an updated Mineral Resource Estimate. This release should be read in conjunction with the Company’s Q2 2021 Financial Statements and MD&A, available on the Company’s website or SEDAR. Highlights: Recent exploration results indicate Bayan Khundii, Ulaan, and Dark Horse Mane are part of a large-scale, gold mineralized system Significant gold discovery at 100%-owned Ulaan, 300 metres west of the Bayan Khundii Gold deposit Multiple holes intersected high-grade mineralization (over 1 g/t gold) along strike and down dip in the southern portion of Dark Horse Mane, 3.5 kilometres north of the Bayan Khundii Gold deposit Drilling at the northern portion of Dark Horse Mane confirmed continuity of broad, near surface (within 100 metres depth) zones of lower grade gold Advancing the Bayan Khundii Gold Project Updated Bayan Khundii Mineral Resource Estimate, increasing Measured Resources by 61,700 ounces gold (36%) and Indicated Resources by 2,700 ounces of gold (1%) at a 0.4 g/t cut-off Filed Detailed Environmental Impact Assessment (DEIA) with Government of Mongolia with approval expected in late Q3 2021 Signed Local Cooperation Agreement (LCA) with the Bayan Khundii host province, Bayankhongor Provincial Government, for the Bayan Khundii Gold Project Initiated a strategic review of the 100%-owned Khuvyn Khar Molybdenum-Copper Project, 30 kilometres east of the Khundii Gold District Commenced 4,500 metre follow-up drill program at Ulaan in August 2021, and will commence a 4,300 metre drill program at Dark Horse following the completion and assessment of ongoing geophysical survey Quotes from the Company: “During the second quarter we delivered against our strategic objectives of growing resources while advancing the Bayan Khundii Gold Project towards development,” said Peter Akerley, Erdene’s President and CEO. “Recent gold discoveries at the Dark Horse and Ulaan prospects demonstrate the large scale potential of the Ulaan-Khundii system underlying our Khundii Gold District. A follow-up 8,800...