Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) presented the final results from the first 10,000-metre phase of its 18,000-metre Khundii Gold District drill program, including multiple high-grade gold intersections in areas adjacent to the planned Bayan Khundii economic pit.
"Recent drilling has expanded gold mineralized zones beyond the pit and resource boundaries in multiple locations, confirming the potential to expand resources at our Bayan Khundii Gold Project, most significantly in the Striker West zone" said Peter Akerley, Erdene’s President and CEO. “Coupled with the previously announced 2020 drilling results from high-grade zones in Midfield South East, Midfield North and Striker South, located peripheral to the existing high-grade reserves, we have intersected mineralization that should meaningfully add to total gold resources.”
“We have engaged independent consultants to incorporate these results into an updated resource estimate that is also expected to use an updated gold price to determine the resource cut-off grade in defining a revised pit constrained resource,” continued Mr. Akerley. “We expect to announce an updated Bayan Khundii resource in the first half of 2021.”
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