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Significant increase in resource estimate for Erdene’s Altan Nar project

Published by , Assistant Editor
Global Mining Review,

Canada-based resource company Erdene Resource Development Corp. (Erdene) has announced an updated mineral resource estimate (Mineral Resource) for its 100%-owned Altan Nar gold-polymetallic project (Altan Nar) in southwest Mongolia.

Erdene’s President and CEO, Peter Akerley, commented: “We are extremely pleased with the significant increase in size and grade of today’s Altan Nar Resource and believe it will be an excellent complement to a Global Resource Estimate expected in 3Q18 incorporating our near-surface, high-grade Bayan Khundii gold project, 16 km to the southeast, where drilling continues.”

“It is important to recognise that while Altan Nar has expanded significantly this remains an early-stage discovery with multiple untested targets over the 5.6 km Altan Nar trend, with limited drilling at depth. This reflects the fact that no modern exploration took place in this new district prior to the Erdene discoveries.

In March 2015, Erdene announced a maiden resource estimate for Altan Nar incorporating results from 71 diamond drill holes totalling 10 819 m. Subsequently, between 3Q15 and 4Q17, the company completed an additional 51 diamond drill holes totaling 7782 m. Data from these additional holes are included in today’s updated Mineral Resource estimate.

The post-2015 drilling focused on expanding existing resource boundaries in the Discovery Zone (DZ) and Union North (UN) deposits, as well as expanding and exploring for additional mineralisation within the remaining 16 target areas throughout the 5.6 km trend. This work resulted in the discovery of a high-grade central core in the DZ area and outlined additional resources in the peripheral targets. The DZ drilling in particular has had a significant impact on the overall size and grade of the updated Mineral Resource.

Altan Nar is considered to be a carbonate-base metal gold (CBMG) deposit that is characterised by multiple, sub-parallel, moderately to steeply dipping, epithermal vein and breccia zones that in all cases remain open at depth and along strike throughout the 5.6 km long Altan Nar trend, presenting a significant opportunity for resource expansion. Mineralised zones in typical CBMG deposits are commonly restricted to fault/breccia zones that can extend for more than 500 m vertically. The average drill depth of the 122 holes completed at Altan Nar is 157 m (angled, not vertical) with approximately 90% of the Mineral Resource within 150 m of surface.

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