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Erdene's Drilling Intersects Wide Zone of Molybdenum Mineralization at Zuun Mod in Mongolia's South Gobi
Erdene's Drilling Intersects Wide Zone of Molybdenum Mineralization at Zuun Mod in Mongolia's South Gobi.
About this update from Erdene Resource Development Corporation
[{"type":"text","content":"\n\n\n\n\n340 Metres of 0.05% Molybdenum, Including 52 Metres of 0.08% \n\nHALIFAX, Aug. 23 /CNW/ - Erdene Gold Inc. (TSXV:ERD) today announced\nresults of the diamond drilling program at its Zuun Mod porphyry \nmolybdenum-copper project located in southern Mongolia approximately\n150 kilometres north of the Chinese border. The recent drilling, together with\nthe results of earlier drilling by Gallant Minerals, has confirmed the\npotential for wide zones of significantly anomalous molybdenum mineralization\nover a strike length exceeding 2.6 kilometres. An onsite, independent\nevaluation is now underway at Zuun Mod.\n\"We are very excited by these new results at Zuun Mod and look forward to\nadvancing this project. The near surface mineralization continuing to depth in\nthe central portion of the Southeast Molybdenum Zone enhances the potential of\nthe Zuun Mod project,\" said Peter Akerley, President and Chief Executive\nOfficer. \"As the Chinese domestic market continues to mature we anticipate\nincreasing growth in the stainless steel sector and this, combined with new\npipeline developments driven by global energy demands, suggests the molybdenum\nmarket will remain strong for the long term.\"\nEleven holes, totaling 3,500 metres, were drilled as part of the 2005\nexploration program to test multiple targets throughout the 20-square-\nkilometre Zuun Mod porphyry complex. All holes intersected anomalous copper\nand molybdenum over various widths. Five of these new holes tested areas\nwithin the Southeast Molybdenum Zone, where four holes intersected\nsignificantly anomalous molybdenum mineralization. The Southeast Molybdenum\nZone consists of a 3-kilometre long series of structurally controlled and\nmineralized quartz-monzonites and granodioritic bodies.\n\nSoutheast Molybdenum Zone\nTo date, a total of 10 holes have tested the Southeast Molybdenum Zone\nover a 2.6-kilometre strike length; five holes (ZMD series) drilled by Erdene\nin 2005 and five holes (KKMD series) drilled in 2003 by Gallant Minerals/WMC\nResource Ltd. (Gallant). The holes are spaced at intervals of 75 metres to\n1000 metres and average approximately 380 metres. Of these 10 holes, seven\nhave returned intersections ranging from 18 metres of 0.04% molybdenum to\n340 metres of 0.05% molybdenum beginning within 100 metres of surface and the\nthree drill holes...