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Erdene Resource Development Corp. has announced encouraging results from its recent shallow drilling program at the Bayan Khundii Gold Project ("BK Project"), currently under construction in Mongolia. This significant undertaking is being managed by Erdene Mongol LLC ("EM"), a joint venture between Erdene and its partner, Mongolian Mining Corporation ("MMC"). The latest developments are paving the way for what promises to be a pivotal year for the project as it moves closer to production.
Peter Akerley, Erdene’s President and CEO, expressed optimism regarding the initial results from the ore control drilling program. “The results from the first phase of the Bayan Khundii ore control drilling program confirm the high-grade nature of the deposit, consistent with the reserve model in near-surface zones,” Akerley stated. He also announced plans for a comprehensive 13,500-metre reverse circulation (RC) drill program set to commence in the coming weeks. This initiative aims to gather crucial data that will finalize the mine plan ahead of the anticipated start of mining operations in the first quarter of 2025.
In addition to the ore control drilling, exploration drilling has also been conducted around the perimeter of the Bayan Khundii economic pit to assess potential expansion targets. Akerley noted that results from this exploration drilling are expected soon and will be integrated with the current gold market conditions to refine the mine plan. “We are working diligently towards achieving our goal of producing first gold from Bayan Khundii in mid-2025,” he added.
During the third quarter of 2024, EM executed a successful ore control drill program, which comprised 89 shallow diamond drill holes totaling 1,048 metres. The focus was on high-grade domains located within 15 metres of the surface, which are slated for development in the early months of mining. Additionally, the program included 10 deeper drill holes, totaling 456 metres, designed to provide insights for future mine planning. By employing diamond core drilling techniques, the team was able to acquire detailed information regarding the orientation and characteristics of the ore zones.
The results of this drilling program have reaffirmed the presence of high-grade domains as projected in the current block model. Highlights from the drilling results have been documented, showcasing the potential for robust mineralization in the target areas. Detailed results are available in an appendix to the release, providing further clarity on the findings.
As Erdene continues to advance the BK Project, the upcoming phases of drilling and data analysis are expected to solidify the project's foundation and enhance its economic viability. The company's proactive approach in updating the mine plan in response to both exploration results and market dynamics is indicative of its commitment to responsible and profitable resource development.
With a clear path forward and a focus on high-grade targets, Erdene Resource Development Corp. is strategically positioning itself for a successful launch of mining operations at the Bayan Khundii Gold Project. Stakeholders are encouraged to stay tuned for further updates as the project progresses toward its production milestones.
