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Erdene Resource Development Continues to Expand New Ulaan Gold Discovery
HALIFAX, Nova Scotia, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX: ERD | MSE: ERDN) (“Erdene” or the “Company”) is pleased to
About this update from Erdene Resource Development Corporation
[{"type":"text","content":" HALIFAX, Nova Scotia, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX: ERD | MSE: ERDN) (“Erdene” or the “Company”) is pleased to announce assay results from four (4) holes in the South Ulaan gold discovery expansion drill program. Today’s results confirm thick sequences of high-grade gold mineralization continue west of the initial discovery. Highlights Drilling expands mineralization at South Ulaan to the west, with multiple thick gold mineralized zones with high-grade intersections: UDH-21: 77 metres of 3.2 g/t gold and 71 metres of 0.8 g/t gold Includes 27 metres of 8.7 g/t gold, including one metre of 156.5 g/t gold UDH-22: 65 metres of 3.1 g/t gold within 152 metres of 1.7 g/t gold Includes 7 metres of 18.5 g/t gold, including one metre of 119.8 g/t gold UDH-19: 190 metres of 0.7 g/t gold Includes 5 metres of 12.5 g/t gold, including one metre of 60.6 g/t gold Together with the Bayan Khundii deposit, Dark Horse and Altan Arrow Prospects, these results demonstrate the potential scale of mineralization within the Khundii-Ulaan Hydrothermal system Results from drilling at the Dark Horse Zone, consisting of 36 holes totaling 2,286 metres, will be reported by mid-Q4 Developing exploration plans to test high-priority geochemical and geophysical targets throughout the large Khundii-Ulaan system Quotes from the Company: “Today’s results confirm the significance of the Ulaan gold discovery and are a testament to the potential for discovery across the wider area,” said Peter Akerley, Erdene’s President and CEO. “This new discovery is producing the thickest intervals of gold mineralization intercepted in the District to date, including exceptionally high-grade zones, and remains open at depth and to the west.” “Ulaan is part of a very large gold-bearing hydrothermal alteration system underlying our Khundii and Ulaan licenses that shows the potential to host a multimillion-ounce gold deposit,” continued Mr. Akerley. “Exploration continues across this system with results from additional drilling at our Dark Horse prospect anticipated by mid-Q4.” Summary of Drill Results The recently completed Ulaan drill program was designed to test the extent of mineralization around the discovery drill holes reported on August 11, 2021 (see press release). The program consisted of nine (9) holes totaling 3,204 metres. ...