ERD commences second phase of Khundii Gold Project www.zgm.mn
Erdene Resource Development Corp. announced its commencement of the second phase of the 2019 drill program at its 100 percent owned Khundii Gold Project.
During the second quarter of 2019, the company started drilling and discovered high gold mineralization from the undiscovered section of the Bayan Khundii area. ERD also had reported that they found 5.9 grams of gold per ton of soil at the time. The new drilling will continue on the Bayan Khundii’s special licensed field.
“The current drill program will follow up on our Q2 2019 program, which discovered high-grade gold in a previously untested area of the Bayan Khundii deposit and intersected 112 meters grading 5.9 g/t gold at Midfield, confirming the continuity of high-grade mineralization from near-surface in the heart of the Bayan Khundii deposit,” said Peter Akerley, Erdene’s President and CEO. “Exploration drilling will test the high-priority Khundii North and CSZ targets, as well as the newly discovered Khundii South zone of the Bayan Khundii Mining License.”
ERD’s share price rose 13.5 percent, to CAD 0.21 on the Toronto Exchange Exchange (TSX).