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Erdene Resources reports ‘encouraging’ results at Altan Nar gold project

By B.KHASH-ERDENE

Canada-based miner Erdene Resource Development Corp. provided an update last week on its 2014 exploration activities at its wholly-owned Altan Nar gold-polymetallic project in southwest Mongolia.
“These early results are very encouraging, particularly given that Union North represents only the second target where multiple drill holes have been completed,” said Peter Akerley, Erdene’s President and CEO. “Altan Nar remains in the early stages of discovery with multiple, highly prospective targets requiring detailed exploration and drilling. We believe these results, coupled with our surface exploration results, continue to support the potential for discovering and developing near-surface, gold-polymetallic deposits suitable for open-pit mining.”

Altan Nar Drill Program Update

Erdene said that seven drill holes and four drill hole extensions (totaling 834 m) were recently completed at Altan Nar. Prospects tested include the Discovery Zone, Union North, Union South, and Maggie. The objective of the program was to test continuity, both along strike and at depth, of these high-priority targets, all of which returned significant trenching results reported earlier this year.
Results reported her are for three holes from Union North, one of 12 targets now identified at Altan Nar. Drill hole TND-59 was drilled approximately 50 m below previously drilled TND-46 and TND-60 and TND-61 were drilled along strike, approximately 40 m north.
“Previous trenching at Union North identified mineralization along a strike length of 150 m and drilling has now confirmed mineralization extends to a depth of 75 m. Union North is open along strike and at depth. Final assays from the remaining drill holes are anticipated in June,” the company noted.
The 2014 exploration program at Altan Nar commenced in early April and included an induced polarization (IP) physical survey, close-spaced infill geochemical soil sampling, rock chip sampling, detailed geological mapping, and drilling as described above.

Geophysical Survey

The aerial extent of ground geophysical surveys at Altan Nar was expanded, with 20 line kilometers of IP surveys completed along 100 m spaced lines over an area covering the Northbow, Southbow, Riverside, Union North, Union South and Maggie prospect areas, according to Erdene. To date, high chargeability anomalism has been an important guide for successful targeting of the gold mineralized zones. The results show the presence of multiple, locally intense, chargeability high anomalies, extending from near-surface to depth, often continuing below the IP survey detection limit of approximately 150 m. Anomalies beneath the Northbow/Southbow and Union North/Union South target areas are particularly intense. The majority of these geophysical targets have yet to be drill tested. Zonge International Inc., a geophysical consulting firm based in Reno, Nevada, is currently reviewing the data and completing an interpretation and compilation that is expected to further define existing targets and generate additional targets.

Surface Exploration Results

Erdene said that the successful identification of high-grade gold-polymetallic mineralization in drill holes and trenches has resulted in a much better understanding of the controls of mineralization at Altan Nar. Higher-grade zones are typically associated with broad zones of intense phyllic alteration (quartz-sericite-pyrite±arsenopyrite) that result in IP chargeability highs and magnetic lows.
“These zones of alteration are mostly preferentially weathered, resulting in little or no surface expression. Even the remnants of highly resistive quartz breccia zones may be reduced to rubble. The combination of detailed surface mapping, geochemical analysis of soil and rock samples, along with IP and magnetic geophysical surveys has resulted in the identification of 12 highly prospective targets. With the exception of the Discovery Zone, and now Union North, these targets remain relatively un-tested by trenching and drilling. These zones have the potential to significantly expand the areas of known gold-polymetallic mineralization at Altan Nar,” the company added.

Short URL: http://ubpost.mongolnews.mn/?p=9307

Posted by on May 25 2014. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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