| Announcement Date: | 2022-10-25 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Erdene Resource Development Corp. |
| Project name: | Khundii |
| Location: | Mongolia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 20m at 10.44g/t Au0 |
| 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 announce results from Q3 2022 drilling in areas of high-grade near-surface mineralization at the 100% owned Bayan Khundii Gold Deposit within the Khundii Gold District (the “District”) in southwest Mongolia. Quotes from the Company “These results demonstrate the exceptionally high gold grades present in the areas targeted for the first phase of the Bayan Khundii development,” said Peter Akerley, Erdene’s President, and CEO. “This drill program confirmed and locally extended the near surface, high gold grades identified at the Midfield Southeast and Striker South zones since the delivery of the economic pit design for the feasibility study. The program also collected ore for gravity processing test work. Preliminary studies concluded that gravity processing compliments the Bayan Khundii CIP plant, bringing forward cash flow and reducing operating costs.” “Our team is also completing exploration and processing test work at the recent Dark Horse and Ulaan discoveries |
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