| Announcement Date: | 2022-02-08 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Erdene Resource Development Corp. |
| Project name: | Bayan Khundii |
| Location: | Mongolia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 15m @ 42.84g/t Au from 11m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Erdene Resource Development Corporation (TSX: ERD | MSE: ERDN) (“Erdene” or the “Company”) is pleased to provide an update on recent exploration at the Dark Horse prospect, located 2.4 kilometres north of its construction-ready Bayan Khundii Gold Project. This most recent Dark Horse drill program, completed in December 2021, was designed to test near-surface, oxide gold mineralization south and north (along strike) of previous drilling along the Dark Horse Mane structure. The program consisted of 23 holes, and one hole-extension, totaling 1,586 metres. Average hole length was 66 metres, representing an average vertical depth of 47 metres. The drilling program was successful in identifying and extending a zone of high-grade, near surface, gold mineralization at Dark Horse Mane south by approximately 100 metres, while also providing evidence of intense hydrothermal alteration with locally anomalous gold, antimony and arsenic in wider spaced drilling continuing a further 700 metres south. Results include the highest grade gold intersections to date, including multiple 1 metre samples, from two separate drill holes, exceeding 100 g/t gold (up to 195 g/t gold). Continuity of near-surface, oxide gold mineralization has been defined over a strike length of approximately 600 metres in the south. |
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