Erdene Resource Development Corporation Provides Second Quarter Altan Nar Gold-Polymetallic Project Final Drilling Results
Jun 2 14
Erdene Resource Development Corporation provided final drilling results for its second quarter exploration program at the company's wholly-owned Altan Nar gold-polymetallic project in southwest Mongolia. 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. 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. 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. 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.
Erdene Resource Development Corporation Provides Update on 2014 Exploration Activities at its Wholly-Owned Altan Nar Gold-Polymetallic Project in Southwest Mongolia
May 22 14
Erdene Resource Development Corporation provided an update on 2014 exploration activities at its wholly-owned Altan Nar gold-polymetallic project in southwest Mongolia. Seven drill holes and four drill hole extensions (totaling 834 m) were recently completed at Altan Nar. Prospects tested include the Discovery Zone, Union North, Union South, and Maggie. The objective of the program was to test continuity, both along strike and at depth, of these high-priority targets, all of which returned significant trenching results reported earlier this year. Results reported in this release are for three holes from Union North, one of 12 targets now identified at Altan Nar. Drill hole TND-59 was drilled approximately 50 m below previously drilled TND-46 and TND-60 and TND-61 were drilled along strike, approximately 40 m north. Previous trenching at Union North identified mineralization along a strike length of 150 m and drilling has now confirmed mineralization extends to a depth of 75 m. Union North is open along strike and at depth. Final assays from the remaining drill holes are anticipated in June. Altan Nar Surface exploration update: the 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. Geophysical survey: the aerial extent of ground geophysical surveys at Altan Nar was expanded, with 20 line kilometres of IP surveys completed along 100 m spaced lines over an area covering the Northbow, Southbow, Riverside, Union North, Union South and Maggie prospect areas. To date, high chargeability anomalism has been an important guide for successful targeting of the gold mineralized zones. The results show the presence of multiple, locally intense, chargeability high anomalies, extending from near-surface to depth, often continuing below the IP survey detection limit of approximately 150 m. Anomalies beneath the Northbow/Southbow and Union North/Union South target areas are particularly intense. The majority of these geophysical targets have yet to be drill tested. Zonge International Inc., a geophysical consulting firm based in Reno Nevada, is currently reviewing the data and completing an interpretation and compilation that is expected to further define existing targets and generate additional targets. Geochemical Soil survey: a total of 858 soil samples were collected at 12.5 m intervals along 50 m spaced infill lines over a 1.0 square km area at Altan Nar. The objective of the soil program was to provide greater definition of gold, base-metal and associated alteration-element soil anomalies, which have proven to be very effective in identifying mineralized trends. Approximately 15% of the samples collected (128 samples) returned values greater than 10 ppb gold and are considered to be anomalous based on a regional average of 2.3 ppb gold. One soil sample collected over the Maggie prospect returned a highly anomalous value of 1.04 g/t (1,040 ppb) gold. The new soil data is currently being compiled and integrated with other geochemical data as well as geophysical and geological data sets. Geologic mapping and prospecting: based on a better understanding of the surface expression of the mineralized zones, (low relief with thin cover and very limited quartz or iron-oxide rubble) the geotechnical team has refined its mapping techniques, resulting in the discovery of new zones and expansion of the known zones of mineralization. Sampling of quartz rubble material has confirmed these mineralized trends in several new locations. To date, numerous rock chip samples have returned gold values between 1.0 g/t and 41.3 g/t across the 5.6 km by 1.5 km target area. Surface exploration results: The successful identification of high-grade gold-polymetallic mineralization in drill holes and trenches has resulted in a much better understanding of the controls of mineralization at Altan Nar. Higher-grade zones are typically associated with broad zones of intense phyllic alteration (quartz-sericite-pyrite+/-arsenopyrite) that result in IP chargeability highs and magnetic lows. These zones of alteration are mostly preferentially weathered, resulting in little or no surface expression. Even the remnants of highly resistive quartz breccia zones may be reduced to rubble. 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 12 highly prospective targets. With the exception of the Discovery Zone, and now Union North, these targets 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.
Erdene Resource Development Corporation, Annual General Meeting, Jun 17, 2014
Apr 25 14
Erdene Resource Development Corporation, Annual General Meeting, Jun 17, 2014., at 17:30 Atlantic Daylight. Location: Purdy's Wharf Tower II, 1969 Upper Water Street. Agenda: To receive the financial statements of the Corporation for the year ended December 31, 2013, together with the report of the auditor thereon; to elect directors of the Corporation for the forthcoming year; to appoint the auditor of the Corporation for the forthcoming year and to authorize the directors to fix the auditor's remuneration; to consider, and if deemed advisable, to approve and confirm the continuance and amendment and restatement of the Corporation's Shareholder Rights Plan Agreement dated March 14, 2008; and to transact such further and other business as may properly come before the Meeting or any adjournment thereof.