Vancouver — Buoyed by results from recent drilling,
The company carried out an 11-hole drill program totalling 3,500 metres to test multiple targets on the 20-sq.-km property. All the holes intersected anomalous copper and molybdenum mineralization over various widths.
The best hole, ZMD-11, returned 340 metres of 0.05% moly, including 52 metres of 0.08% moly, from the central portion of the Southeast Molybdenum zone. The company believes these results suggest continuity with a hole drilled by a previous operator (Gallant Minerals) 255 metres to the north that returned 160 metres of 0.06% moly and ended in mineralization at 279 metres.
Another previously drilled hole, 1.5 km southwest of Erdene’s hole ZMD-11, returned 236 metres of 0.06% moly, starting at a depth of 90 metres and ending in mineralization at 326 metres.
For comparison purposes, the Endako open-pit mine in B.C. (the only primary molybdenum mine in Canada) has remaining reserves of 80.7 million tonnes grading 0.063% moly. Several moly projects under development in B.C. have grades ranging from 0.06% moly (in an open-pit operation) to 1.17% moly (in an underground operation).
Erdene says recent drilling at Zuun Mod — combined with previous drilling — has “confirmed the potential for wide zones of significantly anomalous molybdenum mineralization over a strike length exceeding 2.6 kilometres.”
The best results are from the Southeast Molybdenum zone, where four of five recent holes returned “significantly anomalous” moly mineralization. The zone consists of a 3-km-long series of structurally controlled and mineralized quartz-monzonites and granodioritic bodies.
A total of 10 holes have tested the Southeast Molybdenum zone to date, spaced at intervals of 75 metres to 1,000 metres, and averaging 380 metres. Seven of the 10 holes returned intersections ranging from 18 metres of 0.04% moly to 340 metres of 0.05% moly, starting within 100 metres of surface. The thickest intervals are from the central portion of the zone.
Erdene notes that the Southeast Molybdenum zone is a portion of a much larger porphyry complex at Zuun Mod, which remains largely unexplored by drilling.
One of the targets, the Northwest Copper zone, was tested with two recent holes that returned 36 metres of 0.15% copper and 26 metres of 0.1% copper. Results from previous drilling of the zone include 152 metres of 0.16% copper, 20 metres of 0.17% copper, and 56 metres of 0.11% copper.
Erdene intends to use the newly commissioned independent valuation of the Zuun Mod project to guide the next phase of detailed drilling, slated for this fall, and to help define resources on the property.
Erdene holds more than 20 gold and base metal projects covering more than 8,400 sq. km in Mongolia, along with 19 uranium licences and applications covering more than 11,000 sq. km.
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