Erdene's Altan Nar Trenching Intersects Multiple High Grade Gold
and Base Metals Zones/Includes 7m of 20g/t Gold, 138g/t Silver, 17%
Lead and 5% Zinc
HALIFAX, NOVA SCOTIA--(Marketwired - Jan 22, 2014) - 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 >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.
Altan Nar Trench Results - Highlights from Union North,
Union South, Riverside |
Prospect |
Trench |
From |
To |
Interval |
Au g/t |
Ag g/t |
Pb % |
Zn % |
Riverside |
ANT-10 |
9 |
11 |
2 |
0.70 |
2.5 |
0.05 |
0.23 |
|
And |
24 |
38 |
14 |
1.38 |
8.8 |
0.33 |
0.24 |
|
incl. |
24 |
30 |
6 |
3.04 |
17.5 |
0.65 |
0.38 |
Union N |
ANT-11* |
30 |
66 |
36 |
2.20 |
0.9 |
0.63 |
0.27 |
|
incl. |
30 |
45 |
15 |
1.01 |
nil |
0.42 |
0.31 |
|
incl. |
54 |
66 |
12 |
5.32 |
2.6 |
1.35 |
0.35 |
|
And* |
86 |
118 |
32 |
1.11 |
9.3 |
1.83 |
0.35 |
|
incl. |
107 |
115 |
8 |
4.05 |
35.0 |
6.94 |
0.52 |
Riverside |
ANT-12 |
4 |
16 |
12 |
0.53 |
0.3 |
0.11 |
0.43 |
|
incl. |
7 |
10 |
3 |
1.54 |
1.3 |
0.20 |
0.62 |
Union N |
ANT-13 |
22 |
30 |
8 |
1.03 |
1.4 |
0.65 |
0.33 |
|
And |
46 |
48 |
2 |
2.03 |
3.5 |
0.43 |
0.38 |
|
And |
84 |
85 |
1 |
1.14 |
10.0 |
1.31 |
0.34 |
|
And |
110 |
117 |
7 |
2.51 |
2.7 |
0.86 |
0.78 |
Union N |
ANT-14* |
54 |
99 |
45 |
4.59 |
29.4 |
3.47 |
1.18 |
|
incl. |
54 |
73 |
19 |
8.93 |
65.9 |
7.69 |
2.49 |
|
incl. |
58 |
65 |
7 |
20.25 |
137.6 |
17.29 |
5.31 |
|
incl. |
92 |
99 |
7 |
5.02 |
7.6 |
1.22 |
0.19 |
|
incl. |
96 |
99 |
3 |
10.34 |
9.0 |
2.19 |
0.22 |
Union N |
ANT-15* |
2 |
20 |
18 |
1.77 |
1.4 |
0.75 |
0.63 |
|
incl. |
11 |
16 |
5 |
6.00 |
4.0 |
2.38 |
1.06 |
Union N |
ANT-20 |
5 |
16 |
11 |
0.80 |
2.1 |
0.42 |
0.22 |
|
incl. |
5 |
9 |
4 |
1.52 |
4.0 |
0.54 |
0.13 |
|
And |
26 |
30 |
4 |
0.51 |
2.0 |
0.57 |
0.30 |
Union S |
ANT-24 |
6 |
16 |
10 |
4.46 |
8.9 |
2.21 |
0.53 |
|
incl. |
10 |
12 |
2 |
11.25 |
6.5 |
3.16 |
0.73 |
* includes 5 to 11m of <100ppb Au |
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
Erdene Resource Development Corp.Peter C. AkerleyPresident and
CEO(902) 423-6419info@erdene.comErdene Resource Development
Corp.Ken W. MacDonaldVice President Business Strategy and CFO(902)
423-6419info@erdene.comwww.erdene.com
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