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Erdene Resource Reports New Discovery at Ulaan – Intersects 3.77 g/t Gold Over 40 Metres Within 258 Metres of 0.98 g/t Gold
HALIFAX, Nova Scotia, Aug. 11, 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, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX: ERD | MSE: ERDN) (“Erdene” or the “Company”) is pleased to announce results from its maiden drill program on the southern portion of its 100%-owned Ulaan exploration license. The program returned a significant new gold discovery 300 metres west of the Bayan Khundii deposit. Follow-up drilling on the Ulaan license is currently underway. Highlights Significant gold discovery at Ulaan, 300 metres west of the Bayan Khundii Gold Deposit, with multiple holes intersecting mineralization, highlights include: 3.77 g/t gold over 40 metres, within 258 metres of 0.98 g/t gold beginning 92 metres downhole in UDH-10 High grade quartz-adularia veins in upper portion of zone – 39.6 g/t and 58.4 g/t gold over 1 metre intervals at 103 and 123 metres depth, respectively Hole ended in gold mineralization at 350 metres – bottom 20 metres averaging 0.48 g/t gold Open along strike to west-northwest and at depth 50 metres south of UDH-10, UDH-07 intersected 100 metres averaging 0.63 g/t gold, beginning 85 metres down hole Adds a third development prospect within the Khundii-Ulaan alteration system alongside the Bayan Khundii Gold Deposit and the Dark Horse gold prospect Quotes from the Company: “These exceptional results confirm a significant new gold discovery just 300 metres west of the Bayan Khundii gold deposit,” said Peter Akerley, Erdene’s President and CEO. “This new discovery at Ulaan, combined with recent high-grade, near-surface, oxide gold intercepts at Dark Horse and the high-grade Bayan Khundii gold deposit demonstrates the existence of a very large gold-bearing hydrothermal alteration system underlying the Khundii and Ulaan licenses.” “Although the Khundii and Ulaan licenses host a low sulfidation epithermal system, the broader Khundii District, including our Altan Nar intermediate sulfidation gold-polymetallic deposit and the molybdenum-copper porphyry deposit at Zuun Mod demonstrate the continuum and potential for discovery of arc related deposits in the Khundii Gold District,” concluded Mr. Akerley. “We are targeting the definition of over 2 million gold equivalent ounces by the end of 2022. Furthermore, we see the potential to add resources beyond this target through further discoveries in our unexplored portion of the prol...