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erdene resource development (ERDCF) Details

Erdene Resource Development Corporation acquires, explores for, and develops mineral deposits. The company explores for copper, molybdenum, gold, silver, lead, zinc, and base metal deposits. Its principal projects include the Zuun Mod molybdenum-copper project consisting of 2 contiguous mining licenses that covers an area of approximately 6,399 hectares, located in Bayankhongor Province, Mongolia; and the Altan Nar gold project located in southwestern Mongolia. The company was formerly known as Erdene Gold Inc. and changed its name to Erdene Resource Development Corporation in May 2008. Erdene Resource Development Corporation was incorporated in 2000 and is headquartered in Dartmouth, Canada.

erdene resource development (ERDCF) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: C$144.6K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$59.1K
Compensation as of Fiscal Year 2013.

erdene resource development (ERDCF) Key Developments

Erdene Commences Resource Drilling on Altan Nar Gold-Polymetallic Project

Erdene Resource Development Corp. announced that a resource definition drilling program is now underway on its wholly owned Altan Nar gold-polymetallic project in the Tien Shan Gold Belt in southwest Mongolia. The drill program will seek to establish a near-surface, National Instrument 43-101 compliant resource estimate at the two most advanced target areas within the 5.6 km Altan Nar trend, now host to 18 target areas. RungePincockMinarco LLC has been selected to complete the Mineral Resource Estimate. Erdene's resource drilling program is targeting two heavily mineralized zones that, based on previous drilling and trenching results, suggest the presence of a high-grade and near-surface mineralized system. Approximately 1,700 m of drilling is expected to be completed by mid-December 2014, at Discovery Zone and Union North, the two most advanced target areas within the 5.6 by 1.5 km trend at Altan Nar, now host to 18 target areas. The drilling will be focused on extending the high-grade, near-surface mineralized zones, and to provide sufficient data to calculate a NI 43-101 compliant mineral resource at both target areas that is amenable to open pit mining. Drilling completed in the second quarter of 2014 returned high-grade, near-surface intersections from both of these areas. At the Discovery Zone, multiple, wide, gold-polymetallic intersections returned results ranging up to 17.7 g/t gold over 5 m, within 19 m of 5.8 g/t gold, 37 g/t silver and 2.6% combined lead and zinc, within 60 m of surface. At Union North, 1.3 km northwest of the Discovery Zone, multiple, near-surface gold-polymetallic zones have been intersected, including 14 m of 3.0 g/t gold, 7.1 g/t silver, and 1.7% combined lead and zinc, and 40 m below that hole, 12 m of 4.0 g/t gold, 10.1 g/t silver, and 2.5% combined lead and zinc. Drilling within these two target areas has established both vertical and lateral continuity of mineralization. Both mineralized zones outcrop at surface and have been intersected by trenching.

Erdene Resource Development Corporation Provides Altan Nar Exploration Update

Erdene Resource Development Corp. reported further significant gold, silver and base metal results from a trenching program completed in the third quarter at the company's 100%-owned Altan Nar gold-polymetallic project in southwest Mongolia. The results have extended known zones of mineralization and confirmed mineralization within previously untested target areas. In combination with previous drill and trench results, the recently completed exploration program has further established the base for the implementation of an initial resource drilling program at the Discovery Zone and Union North, the two most advanced and promising of 18 identified target areas at Altan Nar. The drill program is expected to commence later this month. Union North trenching returned multiple mineralized zones highlighted by a 12 meters wide zone of 3.7 g/t gold, extending Union North 100 meters south. Junction, a previously untested target area, located 600 meters east of the Discovery Zone, returned multiple high-grade rock chip samples, including 11 g/t gold, and returned a base metal rich trench that included 4 meters of 3.7% zinc, 1.2% lead, and 16 g/t silver within a broad 26 meters zone of 0.8% zinc. The early-stage Maggie target continues to demonstrate continuity of mineralization with step-out trenches along trend returning 8 meters of 2.0 g/t gold equivalent to the northeast and 5 meters of 1.2 g/t gold equivalent to the southwest. Altan Nar Project Highlights: Altan Nar represents a new, very large, gold-base metal epithermal discovery in the Tian Shan Belt of southern Mongolia. Eighteen individual targets, ranging from hundreds of metres in length to over a kilometre, exhibit gold, silver and base metal mineralization at surface. Two advanced target areas, the Discovery Zone and Union North, are now at the stage for near-surface resource definition; The Discovery Zone has been traced over 450 meters and remains open with multiple parallel gold-polymetallic zones coming to surface with up to 17.7 g/t gold over 5 meters, within 19 meters of 5.8 g/t gold, 37 g/t silver and 2.6% combined lead and zinc. The Union North target area, 1.3 km northwest of the Discovery Zone, has been traced over 300 meters, remains open in all directions, and hosts multiple gold-polymetallic intersections including up to 12 meters of 4.0 g/t gold, 10 g/t silver and 2.5% combined lead and zinc in shallow drilling and extending to surface.

Erdene Resource Development Corp. Provides Exploration Update

Erdene Resource Development Corp. provided an update on the company's principal metals projects in Mongolia and a corporate review. Diamond drilling during the company's second quarter of 2014 exploration program on the Altan Nar Gold Base Metal Project, located in southwest Mongolia, provided the widest zones of high-grade mineralization to date for the project's two most advanced mineralized zones; the Discovery Zone, with 19 m of 5.8 g/t gold, 37 g/t silver and 2.6% combined lead-zinc; and Union North, located 2.1 km northwest of the Discovery Zone, with 12 m of 4.0 g/t gold, 10 g/t silver and 2.5% combined lead-zinc. The exploration program also established lateral and vertical continuity of those zones, which remain open in all directions, and expanded the known size of the 5.6 km long Altan Nar trend. The combination of detailed surface mapping, geochemical analysis of soil and rock samples, along with IP and magnetic geophysical surveys, has resulted in the identification of 20 highly prospective targets within the Altan Nar license, 18 of which are within the Altan Nar main trend. With the exception of the Discovery Zone and Union North these targets remain relatively un-tested, and thus have the potential to significantly expand the areas of known gold and base metal mineralization at Altan Nar with further trenching and drilling. The company's near-term objective is to establish initial, independently reported, near surface, high-grade, open pitable resources at both the Discovery Zone and Union North in late 2014/early 2015. Simultaneously, the company expects to complete additional evaluation of the remaining targets to assist in determining the higher priority areas and assessing potential additional near surface resources. Plans include trenching, commencing in September 2014, to evaluate new target areas, improve drill targeting and increase confidence for resource estimation at both the Discovery Zone and Union North. This program would be followed by resource definition drilling in fourth quarter of 2014. During these programs, trenching and reconnaissance drilling to further evaluate and prioritize remaining targets will be completed. Teck Alliance: The company continues to be active through the Teck Alliance in assessing the porphyry copper potential of the Khuvyn Khar Copper Project and assessing regional opportunities through the Alliance's area of interest, particularly now that the Mongolian licensing system is about to re-open. During second quarter of 2014, work on the Khuvyn Khar Copper Project included field evaluation of seven porphyry copper drill targets identified during the 2013 program and geophysical characterization studies of drill core to provide further definition and confidence in the modeling of potential mineralization at Khuvyn Khar. This work has resulted in the identification of new, partially buried targets at Khuvyn Khar which are the subject of a large trenching program that commenced August 18, 2014. The ongoing exploration program continues to confirm the potential for copper porphyry style mineralization within the Khuvyn Khar target area.

 

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