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22/04/2024
Mining News

Erdene Resource drills 0.96 g/t gold over 10 metres at Bayan Khundii, Mongolia

Erdene Resource Development Corp. reported results of recent exploration at the Dark Horse gold prospect, part of the greater Bayan Khundii gold project. The Dark Horse gold prospect is located approximately 2 km north of the planned Bayan Khundii (BK) open pit in the Khundii minerals district, in southwest Mongolia.

“Since discovery in early 2021, Erdene has defined a 1.5-km mineralized trend at the Dark Horse Mane, including the very-high-grade Dark Horse Mane South deposit at the Bayan Khundii gold project,” said Peter Akerley, president and CEO. “Results from the most recent exploration work open up several new targets for follow up in the 20 km2 greater Dark Horse prospect area that show potential to host high-grade gold mineralization.

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“Located just 2 km north of the initial Bayan Khundii open pit, ore from Dark Horse Mane will be incorporated into the feasibility study update, expected to be announced in the coming weeks,” continued Akerley. “Growing resources at Dark Horse will strengthen the already strong economics of the Bayan Khundii gold project.”

Erdene recently completed a shallow drilling and geophysical exploration program across the greater Dark Horse prospect at the Bayan Khundii gold project. The program included an 18-hole scout exploration drilling campaign, totalling 1,040 metres, and a gradient array induced polarization (IP) geophysical survey covering 9 km2 over the core of the greater Dark Horse prospect. The program was primarily designed to test for near-surface oxide-related gold mineralization, similar to the Dark Horse Mane deposit, and to identify targets for follow-up deeper drilling.

The program identified multiple areas of near-surface gold and indicator element anomalism, with 12 holes intersecting anomalous gold (greater than 0.1 g/t gold and up to 5.8 g/t gold) and 16 holes returning indicator element mineralization locally over wide intervals up to 55 metres.

Gold, together with antimony, arsenic and molybdenum geochemical anomalies, are characteristic of the Dark Horse deposit, and were instrumental in the initial discovery of high-grade, near-surface gold mineralization at the Dark Horse Mane. These results suggest gold mineralized hydrothermal fluids, carrying gold and other related elements, affect a wide zone within the greater Dark Horse area.

Highlights: Hole AAD-222 returned 6 mettres of 1.44 g/t gold and 1 metre of 0.41 g/t gold and 1 metre of 0.71 g/t gold. AAD-226 returned 8 metres of- 1.03 g/t gold, including 1 metre of 5.17 g/t gold. Aad-235 returned 10 metres f 0.96 g/t gold, including 1 metre of 5.81 g/t gold.

Erdene Resource Development has interests in three mining licenses and an exploration license in southwest Mongolia, where exploration success has led to the discovery and definition of the Khundii Minerals District.

 

Source: Resource World

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