Business
Erdene Resource Development Reports Bayan Khundii Gold Project Exploration Results From Dark Horse Prospect
HALIFAX, Nova Scotia, July 31, 2023 (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, July 31, 2023 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX: ERD | MSE: ERDN) (“Erdene” or the “Company”) is pleased to announce results of recent exploration at the Dark Horse Gold prospect, part of the greater Bayan Khundii Gold Project. The Dark Horse Gold prospect is located approximately two kilometers north of the planned Bayan Khundii (BK) open-pit in the Khundii Minerals District (the “District”), in southwest Mongolia. Quotes from the Company “Since discovery in early 2021, Erdene has defined a 1.5-kilometre mineralized trend at the Dark Horse Mane, including the very high-grade Dark Horse Mane South Deposit at the Bayan Khundii Gold Project,” said Peter Akerley, Erdene’s President and CEO. “Results from the most recent exploration work open up several new targets for follow up in the 20 square kilometer greater Dark Horse prospect area that show potential to host high-grade gold mineralization.” “Located just two kilometres north of the initial Bayan Khundii open-pit, ore from Dark Horse Mane will be incorporated into the feasibility study update, expected to be announced in the coming weeks,” continued Mr. Akerley. “Growing resources at Dark Horse will strengthen the already strong economics of the Bayan Khundii Gold Project.” Exploration Program Results Erdene recently completed a shallow drilling and geophysical exploration program across the greater Dark Horse prospect at the Bayan Khundii Gold Project (Figures 1 and 3). The program included an 18-hole scout exploration drilling campaign, totaling 1,040 metres, and a gradient array induced polarization (IP) geophysical survey covering nine-square kilometres over the core of the greater Dark Horse prospect. The program was primarily designed to test for near-surface oxide related gold mineralization, similar to the Dark Horse Mane deposit, and to identify targets for follow-up deeper drilling. The program identified multiple areas of near-surface, gold and indicator element anomalism, with 12 holes intersecting anomalous gold (greater than 0.1 g/t and up to 5.8 g/t Au) and 16 holes returning indicator element mineralization locally over wide intervals up to 55 metres. Gold, together with antimony, arsenic and molybdenum, geochemical anomalies are characteristic of the Dark Horse deposit and were instrumental, in the initial ...