Erdene Resource Development Corporation

Erdene Resource Development Corporation

November 18, 2013 10:59 ET

Erdene Completes Trenching Program on the Altan Nar Gold-Silver Project

Three Trenches Over 250 Metre Strike Return Greater Than 1 g/t Gold Over Widths of 44 to 50 Metres

HALIFAX, NOVA SCOTIA--(Marketwired - Nov. 18, 2013) -

Editors' Note: There are three maps associated with this press release.

Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or the "Company"), is pleased to report significant gold and silver results from the first phase of trenching that was completed earlier this month at the Company's 100% owned Altan Nar gold-polymetallic project in southwest Mongolia. Results have been obtained for the first four out of 28 trenches designed to test ten distinct mineralized zones across the 5.5 kilometre long Altan Nar target area.

"These early results have exceeded our expectations and have allowed us to meet our stated objective of establishing initial targets for open pit development at Altan Nar while pending results will allow us to prioritize new areas for the next phase of resource drilling" said Peter Akerley, Erdene President and CEO. "We believe the combination of these results and the extent of stockwork breccia uncovered in the remaining twenty-four trenches, combined with our previous results, demonstrate the potential for Altan Nar to host multiple, near-surface, gold-polymetallic deposits conducive to open pit mine development."

Results include three of four trenches returning excellent results over a 250 metre portion of the 400 metre long Discovery Zone. Gold-silver mineralized stockwork breccia zones were uncovered over wide intervals of 44 to 50 metres in each of the three trenches, all containing an average gold content of greater than 1.0 gram per tonne ("g/t"). Each contain wide, higher grade, intervals of 11 to 15 metres grading 2.4 to 3.0 g/t gold accompanied by 8 to 20 g/t silver.

Table 1. Summary of initial assay results from Discovery Zone trenching at Altan Nar

Trench From
ANT- 1 14 39 25 0.5 7.2 0.52 0.43
Including 29 36 7 1.1 15.4 0.66 0.60
And 62 66 4 0.9 3.5 0.43 0.29
ANT-2 44 94 50 1.1 5.4 0.4 0.35
Including 63 78 15 2.4 8.0 0.93 0.40
Including 69 73 4 6.5 10.8 2.16 0.37
And 117 122 5 0.6 1.0 0.16 0.20
ANT-26 4 48 44 1.1 11.3 0.54 0.28
Including 16 27 11 3.0 33.7 1.63 0.46
Including 23 27 4 6.4 67.0 4.2 0.40
ANT-27 22 68 46 1.2 7.6 0.27 0.26
Including 38 53 15 3.0 19.6 0.33 0.32
Including 39 44 5 5.2 32.0 0.40 0.31
Including 50 53 3 5.1 12.7 0.49 0.30

A total of 1,858 metres of trenching resulted in 1,267, 1 to 2 metre samples have been sent to SGS Laboratory in Ulaanbaatar, Mongolia for multi-element analysis.

Discussion of Results

The objective of the trenching program is to further define the near-surface mineralization identified to date, improve the understanding of the gold mineralized system and prioritize new areas for the next phase of resource drilling. The exploration data generated by this program will also be used to develop conceptual plans for initial open pit development. These initial trench results, in conjunction with previous drill results, indicate the presence of a potential shallow, bulk-tonnage, gold-silver-lead-zinc mineralized system in the first of the 10 targets tested along the 5 kilometre trend.

The original trenching program, announced in October, 2013, was expanded from 1,200 metres to 1,858 metres due to the Company's early success in identifying and expanding mineralized zones. The surface expression of the Altan Nar project area is one of low relief with thin Quaternary cover over much of the area, interspersed with low rolling hills. The intense weathering of the altered, sulfide-rich, stockwork breccia zones leaves little surface expression of the targets and little indication of their size other than remnant quartz rubble. As a result, the extent of alteration and mineralization observed in the trenches commonly exceeded that indicated by surface expression. To date, the Altan Nar targets have not been tested below 250 metres vertical depth, however multiple holes have ended in zones of greater than 1 g/t gold.

Qualified Person

J.C. (Chris) Cowan, P.Eng. (Ontario), VP Asia for Erdene, is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. All samples have been assayed at SGS Laboratory in Ulaanbaatar, Mongolia. In addition to internal checks by SGS Laboratory, the Company incorporates a QA/QC sample protocol utilizing prepared standards, blanks and duplicates.

About Erdene

Erdene Resource Development Corp. is a Canada-based resource company focused on the acquisition, exploration, and development of base and precious metals in underexplored and highly prospective Mongolia. For further information on the Company, please visit Erdene has 68,621,503 issued and outstanding common shares and a fully diluted position of 79,720,692 common shares.

Forward-Looking Statements

Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Erdene does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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Contact Information

  • Erdene Resource Development Corp.
    Peter C. Akerley, President and CEO

    Ken W. MacDonald,
    Vice President Business Strategy and CFO
    (902) 423-6419