Erdene Resource Development Corp (TSX:ERD, OTC:ERDCF) has provided an update on recent accomplishments at its Khundii Minerals District (KMD) in Mongolia, which included an updated Feasibility Study for the Bayan Khundii (BK) gold project that is scheduled to be delivered during the third quarter of 2023.
The resource company also said it has initiated site preparation at Bayan Khundii for construction, including access road repairs, temporary facilities, earth works, and batch plant installation.
“With the close of the second stage of our strategic alliance with Mongolian Mining Corporation (MMC), we recently commenced early site works at the Bayan Khundii gold project, in advance of a full construction decision, expected later in 2023,” Erdene Resource Development CEO Peter Akerley said in a statement.
“On the exploration front, the first phase of our 2023 exploration program expanded mineralization in the KMD and identified several targets for follow-up,” he added.
Akerley also noted that drilling at the Zuun Mod (ZM) project, one of Asia’s largest undeveloped molybdenum-copper deposits, demonstrates the potential to significantly increase the scale of resources, and exploration results from the first phase of the 2023 gold exploration program uncovered prospects that have the potential to add significant gold resources to the Bayan Khundii gold project.
The company also stated that it has completed a 4,100 metre (m) drill program at ZM, which has expanded mineralization on the fringes of the current resource and discovered resource-grade mineralization 1.7 kilometres from the current deposit.
As well, Erdene said it has conducted the first phase of its 2023 gold exploration program at the Greater Dark Horse prospect at the Bayan Khundii, in which 1,040m have been drilled that intersected anomalous gold and/or indicator elements in 16 of 18 shallow holes.
Erdene Resource Development is a Canada-based resource company focused on the acquisition, exploration, and development of precious and base metals in underexplored and highly prospective Mongolia.
Contact Sean at sean@proactiveinvestors.com