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Last C$0.14 CAD
Change Today -0.01 / -6.67%
Volume 20.1K
ERD On Other Exchanges
As of 2:42 PM 10/9/15 All times are local (Market data is delayed by at least 15 minutes).

erdene resource development (ERD) Snapshot

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erdene resource development (ERD) Details

Erdene Resource Development Corporation engages in the acquisition, exploration, and development of precious and base mineral deposits. The company primarily explores for copper, molybdenum, gold, silver, lead, and zinc deposits. Its principal projects include the Altan Nar gold project located in southwestern Mongolia; and the Zuun Mod molybdenum-copper project consisting of 2 contiguous mining licenses that covers an area of approximately 6,399 hectares located in Bayankhongor Province, south-western Mongolia. The company was formerly known as Erdene Gold Inc. and changed its name to Erdene Resource Development Corporation in May 2008. Erdene Resource Development Corporation was incorporated in 2000 and is headquartered in Dartmouth, Canada.

Founded in 2000

erdene resource development (ERD) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: C$138.0K
Chief Financial Officer, Vice President and M...
Total Annual Compensation: C$24.0K
Compensation as of Fiscal Year 2014.

erdene resource development (ERD) Key Developments

Erdene Resource Development Corp. Discovers Bonanza Grade Gold in Southwest Mongolia

Erdene Resource Development Corp. announced a discovery of a high-grade gold prospect, Bayan Khundii (Rich Valley), on its 100%-owned Khundii exploration license in southwest Mongolia, located 15 km south of the company's Altan Nar gold project. Highlights: Multiple high-grade rock chip samples (4 to 4,380 g/t gold) collected from multiple mineralized zones over a 1.4 km area. Visible gold observed in numerous locations with no significant sulfide material present Trenching confirmed lower-grade gold mineralization (0.1 g/t to 1.0 g/t Au) in host rocks, over significant widths (up to 30 m), hosting the significantly higher grade vein material. Trenching identified four separate zones, 10 to 30 m wide, averaging 2.3 to 2.9 g/t gold over a 300 m strike area. Trenching returned values up to 55 g/t gold over 1 m. Bayan Khundii Exploration Program: In second quarter 2015, Erdene geologists conducted a follow-up exploration program on the southern portion of the Khundii license leading to the discovery of the Bayan Khundii (Rich Valley) prospect, located approximately 3.5 km south of the Company's Altan Arrow gold prospect. During third quarter 2015, an exploration program was completed at Bayan Khundii consisting of rock chip/grab sampling, trenching and geological mapping. Two separate mineralized zones were identified; the Main Zone and Northeast Zone. Main Zone: A total of 78 rock chip, grab and channel samples were collected, principally from quartz veins from multiple mineralized areas across the Main Zone, a 550 m by 300 m area, with the majority returning highly anomalous values, and over 20% of the samples returning values in excess of 3.0 g/t gold. NE Zone: A second mineralized area, the Northeast Zone ("NE Zone"), located 600 m to the northeast of the Main Zone, contains an alteration area measuring 300 m by 300 m, and returned highly anomalous results with up to 4 g/t gold. The two zones are separated by younger, possibly overlying, lithologies and recent sediments.

Erdene Resource Development Corporation Reports Positive Drilling and Trenching Results from the Union North Deposit at Altan Nar Gold-Polymetallic Project in Southwest Mongolia

Erdene Resource Development Corp. reported positive drilling and trenching results from the Union North deposit at the company's wholly-owned Altan Nar Gold-Polymetallic Project in southwest Mongolia. Drilling at Union North (UN) continues to demonstrate excellent continuity of the high-grade, near-surface mineralization, while step-out trenching has expanded the main mineralized zone by 200 metres to the east. Additional drilling and trenching results for the Discovery Zone (DZ) deposit at Altan Nar are anticipated by mid-fourth quarter, 2015. UN is one of 18 gold-polymetallic target areas identified to date along the 5.6 km Altan Nar mineralized trend. In first quarter of 2015, the company reported an overall mineral resource for Altan Nar that included both the UN and the DZ deposits located 1.3 km apart. The UN resource was restricted to an area 260 m along strike and to a vertical depth of 100 m. UN is characterized by a series of gold-lead-zinc-silver mineralized, easterly dipping, sub-parallel epithermal veins and breccia zones, up to 50 m wide, hosted by andesitic volcanic lithologies that were subsequently cut by post-mineralization porphyritic dykes. Excluding the dykes, the mineralized zone is typically 10 to 30 m wide. Trenching to the south and now east of the resource area has established continuity of the mineralized zone over a strike length of approximately 600 m. Previous trenching at UN has provided some of the grade mineralization to date, including 19 m of 8.9 g/t gold, 66 g/t silver, 7.7% lead and 2.5% zinc. The third quarter 2015 drilling and trenching program achieved the objective of increasing confidence in the high-grade central area and expanding the resource potential outside the current resource boundary. Altan Nar hosts a total of 18 mineralized (gold, silver, lead and zinc) target areas that have been identified within a 5.6 by 1.5 km mineralized corridor. Two of the early discoveries, DZ and UN, are the most advanced targets with wide zones of high-grade, near-surface mineralization. In first quarter of 2015, Erdene announced an initial NI 43-101 mineral resource estimate for DZ and UN. The mineral resource consists of 147,000 oz AuEq averaging 2.5 g/t AuEq (grading 1.7 g/t gold, 11.1 g/t silver, 0.61% zinc, 0.54 % lead) in the Indicated category, and 102,000 oz AuEq averaging 2.1 g/t AuEq (grading 1.5 g/t gold, 10.4 g/t silver, 0.54% zinc, 0.39% lead) in the Inferred category, at a 1.0 g/t AuEq cut-off, within 1.8 million tonnes (Mt) Indicated and 1.5 Mt Inferred, respectively.

Erdene Resource Development Corp. Announces Positive Metallurgical Results for Altan Nar Gold-Silver-Lead-Zinc Project in Southwest Mongolia

Erdene Resource Development Corp. announced positive metallurgical results for its 100%-owned Altan Nar gold-silver-lead-zinc project in southwest Mongolia. The metallurgical testwork was conducted by Blue Coast Research Ltd. to evaluate processing options for the production of gold-silver doré on site through gravity and leaching, and/or production of gold and silver in lead-zinc concentrates through flotation. The testwork was completed on representative drill core composites from the Discovery Zone North deposit at the Altan Nar project. These metallurgical test results are now being utilized in northern China marketing studies for the sale of high-grade concentrates and in a Strategic Options Analysis study currently being carried out by RungePincockMinarco Limited (RPM). Highlights from Metallurgical Report: Gold responded very well to direct leaching with recoveries of 88%, indicating the gold is free milling and does not contain a significant refractory component; high-grade gold-lead-silver concentrates (229 g/t gold, 62% lead, 1,029 g/t silver) can be produced with reasonable overall recoveries (75% gold, 74% lead, 64% silver) using conventional lead-zinc differential flotation; good zinc concentrates can be produced grading 50% zinc at 61% recovery; a moderate amount (45%) of gravity recoverable gold is present, albeit at lower concentrate grades (37 g/t gold); metallurgical results provided to RPM for inclusion in Strategic Options Analysis study. Cyanidation (Leaching) Test Results: the results of cyanide leach bottle roll tests indicate rapid leach time and very good gold recoveries. Direct cyanidation of the DZN feed, ground to 80% passing 75 microns, resulted in recoveries of 88% for gold and 64% for silver, indicating that the gold in this composite is free milling and does not contain a significant refractory component. The test was conducted as a standard 48-hour bottle roll at 40% solids, with a cyanide concentration maintained at 1.0 g/L NaCN, while the pH was maintained between 10.5 and 11.0. Dissolved oxygen levels were maintained above 5 mg/L. Both cyanide (0.96 kg/t) and lime (1.51 kg/t) consumptions were moderate, indicating relatively low reagent consumable costs. Flotation Test Results: a series of cleaner flotation tests were conducted on the DZN composite to evaluate the response of the material to sequential stages of dilution cleaning with and without regrinding. Very early in the test program it was apparent that clean lead concentrates in excess of 50% lead could be generated. The initial cleaner test, conducted without a concentrate regrind, produced a lead concentrate grading 56.5% lead at an overall lead recovery of 71.4%. Importantly, gold and silver recovery followed the lead resulting in high recoveries to the lead concentrate. Gold, in particular, exhibited a strong affinity for recovery to the lead concentrate. Gold recovery to lead cleaner concentrates ranged from 65% to 75%, while silver recoveries ranged from 59% to 64%. It should be noted that no specific attempt was made to optimize flotation conditions to improve the flotation performance of the precious metals. The best flotation result observed during the zinc cleaning program was a zinc cleaner grade of 50.3% zinc at a zinc recovery of 61.3%.


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