Erdene Intersects High Grade Gold & Base Metal Zone at Altan Nar; 5 Metres of 17.7 g/t Gold, 69 g/t Silver, 2.1% Lead & 2.5% ...
02 Junio 2014 - 8:29AM
Marketwired
Erdene Intersects High Grade Gold and Base Metal Zone at Altan Nar;
5 Metres of 17.7 g/t Gold, 69 g/t Silver, 2.1% Lead and 2.5% Zinc
Within 19 Metres of 5.8 g/t Gold
HALIFAX, NOVA SCOTIA--(Marketwired - Jun 2, 2014) - Erdene
Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), is
pleased to provide final drilling results for its second quarter
exploration program at the Company's wholly-owned Altan Nar
gold-polymetallic project in southwest Mongolia.
Highlights
- Highest grade gold interval at Altan Nar; 17.7 g/t gold over 5
m, within 19 m of 5.8 g/t gold, 37 g/t silver and 2.62% combined
lead and zinc intersected in Discovery Zone ("DZ")
- High-grade intersection projects to surface where trenching
returned 44 m of 1.1 g/t gold and 11 m of 3.0 g/t gold
- DZ strike length extended to 450 m and is open to the northeast
and at depth where drilling returned 6 m of 4.8 g/t gold at 235
m
- Continuity of Union North (1.3 km northwest of DZ) established
at depth and along strike with multiple gold-silver-base metal
zones intersected, including 24 m of 2.1 g/t gold
- Expanded surface exploration has resulted in improved
definition of 12 high-priority targets over a 5.6 km by 1.5 km area
that remain relatively untested by drilling
Altan Nar Drill Program Update
Final assays for seven drill holes and four
drill-hole-extensions (totaling 834 m) were recently received and
demonstrate the continuity of the high-grade gold mineralization at
Altan Nar. The second quarter exploration program was the most
successful to date with the discovery of a high-grade zone at DZ
North and establishing continuity of the mineralized system at
Union North. Other prospects tested included Union South and
Maggie, where initial holes confirmed continuity of
mineralization.
Discovery
Zone
The second quarter drilling program included a new hole in the
southern portion of DZ North (TND-65), and extensions of three
previously drilled holes (TND-17, -50 and -53) that tested
mineralization at depth at the northern end of DZ North. Hole
TND-65 was drilled under trench ANT-26 which returned 44 m of 1.1
g/t gold including 11 m of 3.0 g/t gold. The intersection in TND-65
suggests increasing grade at depth with an intersection of 32 m
averaging 3.6 g/t gold including 19 m of 5.8 g/t gold at
approximately 60 m vertical depth. A parallel mineralized zone was
intersected near surface in TND-65 including 5 m of 2.2 g/t gold.
For reference, a cross-section through DZ North showing the
mineralization in TND-65 and ANT-26 has been included with this
press release.
The high-grade intersection in TND-65 also improves continuity
of mineralization between DZ South and DZ North. Total combined
strike length for the DZ has now been extended to 450 m. Holes
TND-50 and TND-17 are located at the northernmost portion of the DZ
where a very wide mineralized zone was intersected; 123 m averaging
0.5 g/t gold with multiple higher-grade zones. Additionally, the
deepest mineralized intersection within the DZ was extended in
TND-58 with a zone of 6 m of 4.7 g/t gold at an approximate
vertical depth of 235 m.
Table of Results - Discovery Zone North
Drill Hole |
From (m) |
To (m) |
Interval |
Au g/t |
Ag g/t |
Pb % |
Zn % |
TND-65 |
8 |
13 |
5 |
2.2 |
6.0 |
0.15 |
0.13 |
And |
78 |
110 |
32 |
3.6 |
23.2 |
0.79 |
0.90 |
Incl. |
87 |
106 |
19 |
5.8 |
37.4 |
1.25 |
1.37 |
Incl. |
91 |
96 |
5 |
17.7 |
69.2 |
2.12 |
2.46 |
TND-17 |
217 |
244 |
27 |
0.9 |
13.3 |
0.35 |
0.76 |
Incl. |
230 |
242 |
12 |
1.5 |
9.8 |
0.39 |
1.13 |
TND-50 |
111 |
234 |
123 |
0.5 |
6.2 |
0.49 |
0.41 |
Incl. |
111 |
116 |
5 |
2.7 |
10.0 |
0.62 |
0.37 |
Incl. |
193 |
224 |
31 |
1.0 |
10.1 |
0.81 |
0.37 |
Incl. |
200 |
206 |
6 |
2.5 |
16.3 |
2.11 |
0.76 |
TND-58 |
266 |
272 |
6 |
4.7 |
8.5 |
0.56 |
0.73 |
Union North
Drilling at Union North included four new holes and one hole
extension. Continuity of mineralization at depth was established
with all new holes intersecting gold mineralization, including two
holes within the center of the zone that returned between 22 m and
24 m of 2.1 g/t gold within 70 m of surface (click here for the
Company's May 22nd press release).
Table of Results - Union North Prospect
Drill Hole |
From (m) |
To (m) |
Interval |
Au g/t |
Ag g/t |
Pb % |
Zn % |
TND-59 |
62 |
71 |
9 |
1.3 |
8.2 |
0.96 |
1.06 |
Incl. |
69 |
71 |
2 |
5.0 |
25.0 |
3.32 |
3.42 |
And |
88 |
93 |
5 |
0.5 |
2.5 |
0.16 |
0.32 |
And |
102 |
109 |
7 |
2.2 |
5.7 |
0.67 |
1.01 |
TND-60 * |
22 |
44 |
22 |
2.1 |
5.8 |
0.58 |
0.77 |
Incl.* |
26 |
40 |
14 |
3.0 |
7.1 |
0.72 |
0.98 |
And |
69 |
73 |
4 |
2.7 |
7.0 |
0.80 |
0.79 |
TND-61 |
45 |
69 |
24 |
2.1 |
5.8 |
0.59 |
0.84 |
Incl. |
45 |
57 |
12 |
4.0 |
10.1 |
1.05 |
1.42 |
And |
100 |
104 |
4 |
0.8 |
7.5 |
0.16 |
0.62 |
TND-62 |
20 |
30 |
10 |
0.5 |
3.6 |
0.48 |
0.60 |
* includes 5 metres of post-mineralization dyke
Union South and
Maggie
Drilling at Union South (TND-63) established continuity of
mineralization from the trench on surface to a vertical depth of
approximately 50 m. A single drill hole at the Maggie prospect
(TND-64) intersected a narrower zone of mineralization than
observed in the surface trench where it has been displaced by a
post-mineral dyke.
Table of Results - Union South and Maggie Prospects
Drill Hole |
From (m) |
To (m) |
Interval |
Au g/t |
Ag g/t |
Pb % |
Zn % |
TND-63 |
71 |
78 |
7 |
1.1 |
2.7 |
0.33 |
0.84 |
Incl. |
72 |
75 |
3 |
2.5 |
6.3 |
0.70 |
1.73 |
TND-64 |
40 |
43 |
3 |
1.3 |
36.3 |
1.38 |
0.14 |
And |
62.65 |
68 |
5.35 |
1.1 |
7.9 |
0.84 |
0.30 |
Exploration Overview
The Q2 2014 exploration program at Altan Nar commenced in early
April and included an induced polarization ("IP") geophysical
survey, close-spaced infill geochemical soil sampling, rock chip
sampling, detailed geological mapping, and drilling. Results
support the continued expansion of the gold-polymetallic
mineralization within the 5.6 km by 1.5 km target area at Altan
Nar. The combination of detailed surface mapping, geochemical
analysis of soil and rock samples, along with IP and magnetic
geophysical surveys has resulted in improved definition of 12
highly prospective targets. Two of these targets, the Discovery
Zone and Union North, have been shown to host significant
near-surface mineralization while the remainder remain relatively
un-tested by trenching and drilling. These zones have the potential
to significantly expand the areas of known gold-polymetallic
mineralization at Altan Nar with further exploration.
Exploration, including delineation and exploration drilling,
trenching and expanded geotechnical surveys is expected to continue
at Altan Nar during the remainder of 2014 with the goal of
establishing a maiden National Instrument 43-101 compliant resource
and the identification of further gold, silver, lead and zinc
mineralization amenable to open pit development.
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 74,956,612 issued and outstanding common
shares and a fully diluted position of 88,538,051 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 that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that 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
A map is available at the following link:
http://media3.marketwire.com/docs/949584_DZ_North_Cross-Section.pdf.
Erdene Resource Development Corp.Peter C. Akerley, President and
CEOKen W. MacDonald, Vice President Business Strategy and CFO(902)
423-6419info@erdene.com /
www.erdene.comhttps://twitter.com/ErdeneRes
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