Erdene Resource Development Corp (TSX:ERD| MSE:ERDN), announces the the Mineral Resource estimate for its 100% owned Khundii Gold Project in southwest Mongolia, prepared by RPMGlobal in accordance with the definition standards of National Instrument 43-101.

The Khundii Gold Project includes the Company’s high-grade Bayan Khundii and Altan Nar deposits, located 16 kilometres apart. Today’s announcement includes the Maiden Mineral Resource estimate for the Bayan Khundii deposit and incorporates the significant increase in the NI 43-101 Mineral Resource for the Altan Nar deposit reported by the Company in May 2018. These deposits are shallow and high-grade, outcropping and located within the newly discovered Khundii Gold District. 

Highlights:

• Khundii Gold Project total Mineral Resource: − 751,000 ounces gold at an average grade of 2.3 g/t gold, Measured and Indicated; and, − 291,000 ounces gold at an average grade of 1.8 g/t gold, Inferred. 

• At a higher cut-off grade of 1.4 g/t gold, the Khundii Gold Project contains: − 642,000 ounces gold at an average grade of 3.7 g/t gold, Measured and Indicated, including, 357,000 ounces gold at an average grade of 5.2 g/t gold at the Bayan Khundii deposit. 

• Including precious and base metals, the Khundii Gold Project includes: − 886,000 ounces gold equivalent (“AuEq”) at an average grade of 2.7 g/t AuEq, Measured and Indicated; and − 382,000 ounces AuEq at an average grade of 2.3 g/t AuEq, Inferred. 

• Work has commenced on the Preliminary Economic Assessment for the Khundii Gold Project, expected to be announced in Q4-2018.

Click here to see full report.

Source: Mongolian Stock Exchange