Erdene's Altan Nar Trenching Intersects Multiple High Grade Gold and Base Metals Zones/Includes 7m of 20g/t Gold, 138g/t Silv...
22 Enero 2014 - 3:10PM
Marketwired Canada
Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or the "Company"), is
pleased to report it has received final assay results for its Q4 2013 trenching
program at the Company's 100% owned Altan Nar gold-polymetallic project in
southwest Mongolia.
Highlights - Q4 Trenching Program - Phase III Results
-- Union North results confirm minimum 150m strike, open in both directions
and centered on high grade mineralized shoots with up to 19m of 8.9 g/t
gold, 66 g/t silver, 7.7% lead and 2.5% zinc including 7m of 20.2 g/t
gold, 138 g/t silver, 17% lead and 5% zinc
-- ANT-24 (Union South) returns 10m of 4.5 g/t gold, 9 g/t silver, and 2.2%
lead opening up greater than 500m of strike length between the Union
North and South Zones
-- Riverside results indicate intensifying mineralization in north with 14m
of 1.4 g/t gold and potentially forming a structural intersection with
Union North
-- Altan Nar now hosts five large, distinct, well mineralized structures in
Union North & South, Discovery Zone, Riverside, Maggie, Northbow and
Southbow, with multiple areas requiring additional exploration (see
November 18 and December 10, 2013 releases)
"We are extremely pleased with the results generated from this program. We have
discovered multiple new zones, broad areas of mineralization, confirmed that the
potential for new discoveries extends over the 5.5 kilometre strike length, and
have identified high-grade mineralized shoots," said Peter Akerley, President
and CEO of Erdene. "There is little question that Altan Nar not only has the
potential for multiple, bulk mineable open pits with high grade shoots, but now
represents one of the most significant metal discoveries in Mongolia since Oyu
Tolgoi in the mid-1990's. We will now accelerate our efforts for the 2014
exploration season and move this very exciting project towards early
development."
Q4 2013 Altan Nar Trenching Program - Phase III (Final) Results
The following table provides the latest, previously unreported, results from the
Altan Nar trenching program carried out in Q4 2013.
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Altan Nar Trench Results - Highlights from Union North, Union South,
Riverside
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Prospect Trench From To Interval Au g/t Ag g/t Pb % Zn %
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Riverside ANT-10 9 11 2 0.70 2.5 0.05 0.23
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And 24 38 14 1.38 8.8 0.33 0.24
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incl. 24 30 6 3.04 17.5 0.65 0.38
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Union N ANT-11(i) 30 66 36 2.20 0.9 0.63 0.27
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incl. 30 45 15 1.01 nil 0.42 0.31
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incl. 54 66 12 5.32 2.6 1.35 0.35
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And(i) 86 118 32 1.11 9.3 1.83 0.35
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incl. 107 115 8 4.05 35.0 6.94 0.52
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Riverside ANT-12 4 16 12 0.53 0.3 0.11 0.43
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incl. 7 10 3 1.54 1.3 0.20 0.62
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Union N ANT-13 22 30 8 1.03 1.4 0.65 0.33
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And 46 48 2 2.03 3.5 0.43 0.38
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And 84 85 1 1.14 10.0 1.31 0.34
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And 110 117 7 2.51 2.7 0.86 0.78
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Union N ANT-14(i) 54 99 45 4.59 29.4 3.47 1.18
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incl. 54 73 19 8.93 65.9 7.69 2.49
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incl. 58 65 7 20.25 137.6 17.29 5.31
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incl. 92 99 7 5.02 7.6 1.22 0.19
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incl. 96 99 3 10.34 9.0 2.19 0.22
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Union N ANT-15(i) 2 20 18 1.77 1.4 0.75 0.63
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incl. 11 16 5 6.00 4.0 2.38 1.06
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Union N ANT-20 5 16 11 0.80 2.1 0.42 0.22
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incl. 5 9 4 1.52 4.0 0.54 0.13
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And 26 30 4 0.51 2.0 0.57 0.30
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Union S ANT-24 6 16 10 4.46 8.9 2.21 0.53
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incl. 10 12 2 11.25 6.5 3.16 0.73
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(i) includes 5 to 11m of less than 100ppb Au
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The trenching results announced today include three areas in the Central Altan
Nar Area: Riverside, Union North and Union South. The following describes each
of these target areas and the trenching results. Also, included for reference,
are maps and a cross-section showing the location of the trenches and
orientation of the mineralized zones.
Union North Prospect
Located 1.3 kilometres northwest of the Discovery Zone, Union North is
characterized by north-trending IP chargeability highs with coincident gold
geochemical anomalies and locally quartz rubble that can be traced over a 1.3
kilometre strike length to the Union South prospect. Previous drilling (TND-46)
returned 47 metres of 1.3 g/t gold, including 9 metres of 4.3 g/t gold, 12 g/t
silver, and 1.7% combined lead-zinc. This target is centered on what appears to
be a structural intersection and a dilatant offset in the host structure which
provided the conduit for more intense, episodic pulses of mineralizing fluids.
Five trenches tested the zone within a 150 metre x 150 metre area (see attached
map and section). Trench ANT-13 marks the southern extent tested and ANT-15 and
ANT-20 the northern extent. The central trenches (ANT-11 and ANT-14) and single
drill hole (TND-46) returned very high grades in multiple intersections with up
to 20.2 g/t gold, 138 g/t silver, 17% lead and 5.3% zinc over 7 metres. The
mineralized zone is characterized by multiple, sub-vertical stockwork breccia
shoots, 2 to 20 metres wide, hosted by an andesite volcanic package subsequently
cut by porphyritic dykes. Mineralization and alteration are characterized by
iron oxides, black quartz and very fine black sulphide material, massive galena,
quartz breccia and veins in the higher grade zones, and stockwork stringer
veinlets in the lower grade zones. The entire mineralized package is hosted in
zones of intense phyllic (sericite-quartz-pyrite) alteration. At least two high
grade shoots, 7 to 20 metres wide have been identified to date. The more
significant of the two is a new discovery just west of the projected extent of
drill hole TND-46. The zone is open to the north and south.
With these recent discoveries it is becoming apparent that the shallow
overburden cover can mask even high grade zones and that the property contains
many untested targets.
Union South Prospect
Approximately 550 metres south of ANT-13, the southern-most trench in Union
North, is trench ANT-24, which tested a small area of quartz float, and a single
multi-element geochemical anomaly, coincident with a magnetic low and IP high
anomaly under shallow cover. Again, a covered, high grade zone was discovered
within one metre from surface that returned 10 metres of 4.46 g/t gold, 8.9 g/t
silver and 2.2% lead characterized by intense alteration with significant quartz
breccia, veining and stockwork and was well mineralized with galena, trace
turquoise, iron oxides, and manganese oxides. This trench is 100 metres north of
drillhole TND-29 which intersected 18 metres of 1.0 g/t gold including 4 metres
of 3.7 g/t gold. These results demonstrate tremendous potential in this area.
Union South and Union North represent a combined 1.3 kilometre long target.
Riverside Prospect
Characterized by an 800 metre long gradient IP and geochemical anomaly, less
intense than the adjacent Union (North and South) to the east and
Northbow/Southbow targets to the west, the Riverside target was tested by six
relatively short trenches. As indicated by previous drilling the Riverside
prospect is well mineralized but tends to average less than 1 g/t gold in the
southern portion (Trenches ANT-06,07,08,09) increasing in grade moving north
(Trenches ANT-10 and ANT-12) to the point where it potentially merges into the
Union North target. ANT-10, located approximately 250 metres south of ANT-13
(south end of Union North) returned 14 metres of 1.4 g/t gold.
Discussion of 2013 Altan Nar Trenching Program Results
This program met the planned objectives, to further define the near-surface
mineralization identified to date, improve the understanding of the gold
mineralized system and prioritize new areas for the next phase of exploration.
The surface expression of the Altan Nar project area is one of low relief with
thin Quaternary cover over much of the area, interspersed with low rolling
hills. The intense weathering of the altered, sulfide-rich, stockwork breccia
zones leaves little surface expression of the targets and little indication of
their size other than remnant quartz rubble. As a result, the extent of
alteration and mineralization observed in the trenches commonly exceeded that
indicated by surface expression. A combination of mapping, geochemical and
geophysical surveys has been successful in guiding our exploration to date
however it is obvious from the recent program that even the subtlest of
anomalies may indicate high grade mineralization under shallow cover and
therefore a significant expansion in the surface work will be part of the 2014
program. To date, the Altan Nar targets have not been tested below 250 metres
vertical depth; however multiple holes have ended in strong gold mineralization.
The exploration data generated by this program will now be used to develop
conceptual plans for initial open pit development. These trench results, in
conjunction with previous drill results, confirm the potential for a shallow,
large, bulk-tonnage, gold-silver-lead-zinc mineralized system. Following the
compilation and interpretation of these results, the Company will begin planning
the next program to define new resources and evaluate additional targets within
the Altan Nar property.
Qualified Person
J.C. (Chris) Cowan, P.Eng. (Ontario), VP Asia for Erdene, is a Qualified Person
as that term is defined in National Instrument 43-101 and has reviewed and
approved the technical information contained in this news release. All samples
have been assayed at SGS Laboratory in Ulaanbaatar, Mongolia. In addition to
internal checks by SGS Laboratory, the Company incorporates a QA/QC sample
protocol utilizing prepared standards, blanks and duplicates.
About Erdene
Erdene Resource Development Corp. is a Canada-based resource company focused on
the acquisition, exploration, and development of base and precious metals in
underexplored and highly prospective Mongolia. For further information on the
Company, please visit www.erdene.com. Erdene has 68,621,503 issued and
outstanding common shares and a fully diluted position of 80,165,692 common
shares.
Forward-Looking Statements
Certain information regarding Erdene contained herein may constitute
forward-looking statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans, expectations, opinions,
forecasts, projections, guidance or other statements that are not statements of
fact. Although Erdene believes the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance such
expectations will prove to have been correct. Erdene cautions that actual
performance will be affected by a number of factors, most of which are beyond
its control, and that future events and results may vary substantially from what
Erdene currently foresees. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices,
exploitation and exploration results, continued availability of capital and
financing and general economic, market or business conditions. The
forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The information contained herein is stated as of the
current date and is subject to change after that date. Erdene does not assume
the obligation to revise or update these forward-looking statements, except as
may be required under applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE
Maps are available at the following address:
http://media3.marketwire.com/docs/923568M.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Erdene Resource Development Corp.
Peter C. Akerley
President and CEO
(902) 423-6419
info@erdene.com
Erdene Resource Development Corp.
Ken W. MacDonald
Vice President Business Strategy and CFO
(902) 423-6419
info@erdene.com
www.erdene.com
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