Erdene rises on Bayan Khundii gold discovery in Mongolia

Erdene Resource Development’s interest in Mongolia dates back to the late 1990s, and so it has experienced the good and bad times in the oft-volatile country. The company’s dedication may be about to pay off, however, due to its wholly owned Bayan Khundii gold discovery and a clearer socio-political landscape courtesy of Rio Tinto‘s resolution of investment negotiations at the world-class Oyu Tolgoi copper-gold mine.

Bayan Khundii is an emerging story that flew from greenfield prospect to Erdene’s flagship asset in roughly eight months. The company has held a variety of mineral interests in Mongolia, but the past year has been tilted toward gold. As such, Erdene had been advancing its Altan Nar project before regional prospecting changed the story.

“When we stepped out a little ways and mobilized to do our mapping, I think it was last May, our team ran a rock sampling survey over an area 20-km southeast of Altan Nar,” explains manager corporate development Dawson Brisco, who managed exploration programs in Mongolia for Erdene between 2005 and 2010.

source: canadianminingjournal.com