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Be the first with the news that moves the market- Erdene Resource Development (TSX:ERD) is progressing construction and drilling work at its Khundii gold mine in Mongolia
- The company begun preparing the site for construction, hiring its production team, securing permits, and developing supply chains
- The company has also begun a final stage 25-hole shallow drill program designed to test for gold production potential
- Erdene expects to have a feasibility study on the project completed by the end of this quarter, with construction commencing thereafter
- Erdene Resource Development (ERD) is down two per cent and is trading at C$0.31 per share
Erdene Resource Development (TSX:ERD) is progressing the construction and drilling work at its Khundii gold mine in Mongolia.
The company begun preparing the site for construction, hiring its production team, securing permits, and developing supply chains.
The project team has been built primarily from local Mongolian talent, with the rest made up of international workers.
The company is working on a feasibility study, which should be completed by the end of this quarter. It is also in the midst of securing its permits to begin construction as soon as it is possible.
The drilling work on the site has consisted of a shallow 25-hole, 1,000-metre program around the site’s Bayan Khundii deposit.
The program was testing for minerals across zones that have thus far been categorised as waste or low-grade material but have potential to add value at the earliest stages of mining.
President and CEO of Erdene, Peter Akerley said the company was nearing delivery on the bankable feasibility study for the Bayan Khundii gold project.
“Results from these programs will support a seamless transition from the study, through project finance and onto construction, while further defining our pipeline of growth prospects.
“The expansion opportunities south of the Bayan Khundii open-pit reserve, the recent high-grade surface discovery at Dark Horse and extension of the high-grade horizon within the Altan Nar discovery zone keep our pipeline full in this new gold district,” he said.
Erdene Resource Development (ERD) is down two per cent and is trading at C$0.31 per share
