- Erdene Resources (ERD) has revealed the results from its ongoing drill program at the Bayan Khundii project in Mongolia
- The company has been exploring the Midfield SE, Striker SW and Dark Horse targets on the property
- At the Striker zone the company hit 15 metres at 29 gram per tonne gold from 0.9 metres down, including a one metre result that graded at 353 grams per tonne gold
- Trenching work at Dark Horse returned six metres of strike at 8.8 grams per tonne gold, including a one metre gold result of 50.8 grams per tonne.
- Erdene Resources (ERD) is up six per cent and is trading at C$0.50 per share
Erdene Resources (TSX:ERD) has revealed the results from the ongoing drill program at its Bayan Khundii gold project.
The company is conducting drilling and trenching work at the Midfield SE, Striker SW and Dark Horse exploration targets.
Drill intercepts at the Striker deposit hit 15 metres at 29 gram per tonne gold from 0.9 metres down, including a metre result that graded at 353 grams per tonne gold.
Other results from Striker included one 20 metre result of 5.9 grams per tonne gold, with one metre grading at 91.2 grams per tonne gold.
Results from the Midfield SE zone have expanded mineralization into a region of the Bayan Khundii project that was previously thought unusable.
The results from Dark Horse included six metres at 8.8 grams per tonne gold, including a one metre gold result of 50.8 grams per tonne. This result came from trenching work rather than drilling.
President and CEO of Erdene Resources, Peter Akerley said the results from the second quarter program were outstanding.
“Today’s results, combined with those announced recently for the new Midfield SE zone, give us three distinct new high-grade zones to target additional exploration drilling within the Bayan Khundii gold distinct in the third quarter.
“We expect to incorporate these results, along with those from the planned third quarter program in an updated resource at Bayan Khundii later this year,” he said.
Peter went on to say that the company is already preparing its third quarter drill program to further unlock the potential of the exciting new gold prospect.
Erdene Resources (ERD) is up six per cent and is trading at C$0.50 per share at 1:30am EDT.