Erdene Resources (ERD-T) has added several hundred metres of molybdenum mineralization to its Zuun Mod project in Mongolia but now the company is waiting to see how it all adds up in a new resource estimate due in a few months.
The 2007 drilling season, which focused on a 3-km-long zone known as the Racetrack North and Racetrack South deposits, resulted in growth for both.
Racetrack North was extended by 250 metres to the east and 300 metres to the south, now covering an area of 1.2 km in length and up to 700 metres in width.
Highlights from drilling include a 328-metre intersection grading 0.058% molybdenum and 0.067% copper, including 66 metres grading 0.103% molybdenum and 0.101% copper.
Meanwhile, Racetrack South, which was about 1 km by 300 metres, was extended by 150 metres to the west where it remains open.
Mineralization comes within 24 metres of surface and reaches beyond 350 metres depth.
The latest results included 138 metres grading 0.06% molybdenum and 0.103% copper, including 12 metres grading 0.23% copper.
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