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Last C$0.11 CAD
Change Today -0.005 / -4.35%
Volume 38.7K
As of 3:35 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

erdene resource development (ERD) Snapshot

Open
C$0.11
Previous Close
C$0.12
Day High
C$0.11
Day Low
C$0.10
52 Week High
04/21/14 - C$0.20
52 Week Low
12/11/14 - C$0.09
Market Cap
9.1M
Average Volume 10 Days
19.0K
EPS TTM
C$-0.04
Shares Outstanding
82.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ERDENE RESOURCE DEVELOPMENT (ERD)

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erdene resource development (ERD) Details

Erdene Resource Development Corporation acquires, explores for, and develops mineral deposits. The company explores for copper, molybdenum, gold, silver, lead, zinc, and base metal deposits. Its principal projects include 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, Mongolia; and the Altan Nar gold project located in southwestern 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$144.6K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$59.1K
Compensation as of Fiscal Year 2013.

erdene resource development (ERD) Key Developments

Erdene Resource Development Corporation Intersects Multiple High Grade Gold-Polymetallic Zones at Altan Nar Including 30 m of 5.1 g/t Gold Equivalent 35 m from Surface

Erdene Resource Development Corp. announced that the company report final drilling results from the fourth quarter of 2014 resource drilling program at its wholly-owned Altan Nar gold-polymetallic project in southwest Mongolia. Altan Nar Fourth Quarter of 2014 Resource Drilling Program: The Altan Nar discovery was made by the Erdene team in late 2011 following a systematic, large scale regional exploration program exploring for Paleozoic porphyry and epithermal style gold and copper targets. Since that time, Erdene has completed 62 holes for a total of 10,997 m of diamond drilling, 39 trenches for a total of 2,927 m, and has established Altan Nar as a significant new gold-silver-lead-zinc mineralized system. The project is located within the Tian Shan Gold Belt in southwest Mongolia within 250 km of the Chinese city of Ceke, the main rail crossing between Mongolia and China in the region. Various exploration and mining projects are underway in the general area and throughout the Gobi region including Rio Tinto's Oyu Tolgoi gold-copper project which is now ranked as the sixth large gold resource globally with 2015 gold production projected to exceed 600,000 ounces. In addition, elsewhere in Mongolia both Centerra Gold Inc. and Bayan Airag Exploration LLC have made significant advancements during the past year in their respective gold projects, Gatsuurt and Golden Hills. At Altan Nar, a total of 18 mineralized (gold, silver, lead and zinc) target areas have been identified within a 5.6 by 1.5 km mineralized corridor. Two of the early discoveries, the Discovery Zone and Union North, have been the subject of recent detailed work and were the focus of the company's fourth quarter of 2014 resource drilling program. These two intensely mineralized zones have been the focus of drilling and trenching programs over the past two years and have identified a near-surface, high-grade gold and base metal mineralized system. The current program focused on defining these mineralized zones to a depth less than 150 m, and providing sufficient data to calculate a mineral resource estimate in accordance with NI 43-101. Discovery Zone South: The objective at Discovery Zone South was to establish continuity over the zone (approximately 250 m strike length) at 25 m to 50 m spacing to a 125 m depth, and achieve high confidence in the higher grade zones. This objective was met with the four holes in the main zone returning 12 m to 31 m of greater than 1 g/t gold eq., the highlight being a significant increase in width and grade at the northern portion of DZS in hole TND-69. This drill hole returned 51 m of 2.5 g/t gold eq. with 7 m and 3 m zones of greater than 7 g/t gold eq., containing locally intense lead and silver, up to 6.9% lead and 196 g/t silver over 1 m. At the southern end of the zone, strong zinc and silver mineralization was encountered with values up to 4.5% zinc and 334 g/t silver over 1 m. DZS is open in all directions and adjoins Discovery Zone North which extends the total zone a further 250 m to the north. Drilling has typically been restricted to testing the top 150 m of the target. The orientation of the mineralized zone is near vertical and therefore true width is interpreted to be approximately 70% of the reported intervals. Discovery Zone North: As with DZS, the objective at Discovery Zone North was to establish continuity over the zone (approximately 250 m strike length) at 25 m to 50 m spacing to a 125 m depth and achieve high confidence in the higher grade zones. This objective was met with significant near-surface intervals of high-grade mineralization, including hole TND-70 which returned 16 m of 8.7 g/t gold eq. (7.2 g/t gold, 38 g/t silver, and 1.83% combined lead and zinc), within a larger envelope of 30 m of 5.1 g/t gold eq. (4.2 g/t gold). Drill hole TND-70 was designed to test the vertical continuity of the southern portion of DZN, between trench ANT-26 and drill hole TND-65. The hole intersected the mid-point of the main zone of mineralization at approximately 35 m depth. Prior to TND-70 the high grade gold interval at Altan Nar was in TND-65 which intersected 24 m of 6.2 g/t gold eq. (4.8 g/t gold) approximately 30 m below TND-70. The surface trench, ANT-26, returned 44 m of 1.7 g/t gold eq. (1.1 g/t gold) and 11 m of 4.6 g/t gold eq. (3.0 g/t gold). These high-grade zones in the southern portion of the DZN open up into broad 50 m to 100 m wide zones of 0.5 to 1.5 g/t gold eq. in the north (TND-72 returned 96 m of 1.0 g/t gold eq.). Union North: The objective at UN was to establish continuity over the main zone (approximately 150 m strike length) at 25 m to 50 m spacing to a depth of 100 m and to test the extension of the zone to the south. This objective was met with the four holes in the main zone returning 10 m to 30 m of greater than 1 g/t gold eq., the highlight being 10 m of 4.1 g/t gold eq. in hole TND-76. With an interpreted dip of 45 degrees for the main mineralized zone, the true width is believed to be close to reported drill hole intervals. Although gold values can reach high grades in this target area (TND-61 returned 12 m of 4 g/t gold) base metal content can reach very high grades and can become the dominant economic metals. Hole TND-74 returned 6.4 m of greater than 5% combined lead and zinc. A wide dry stream drainage marks the southern boundary of the main UN mineralized zone. Exploration to date, over a large area, has indicated there are a minimum of five mineralized structures over a 300 m wide zone trending towards the main UN zone under the drainage cover.

Erdene Resource Development Corp. Provides Drilling Results for Altan Nar Gold-Polymetallic Project in Southwest Mongolia

Erdene Resource Development Corp. provided drilling results for the first four holes of the 15-hole fourth quarter 2014 exploration program at the company's wholly-owned Altan Nar gold-polymetallic project in southwest Mongolia. The drill program was completed in December 2014 on Erdene's wholly owned Altan Nar gold- polymetallic license, located within the Tian Shan Gold Belt in southwest Mongolia. Fifteen drill holes, totaling 1,855 m, were completed in the three most advanced target areas; DZN, DZS, and Union North. Since discovering Altan Nar in late 2011, Erdene has identified 18 mineralized gold, silver, lead and zinc target areas within a 5.6 by 1.5 km mineralized corridor. Two of the early discoveries, the Discovery Zone and UN, have been the subject of recent detailed work and were the focus of the fourth quarter of 2014 resource drilling program. These two intensely mineralized zones have undergone previous drilling and trenching programs that have confirmed the presence of a high-grade and near- surface mineralized system. The program, together with previous exploration drilling, focused on defining these zones to a depth amenable to open pit mining, and providing sufficient data to calculate a NI 43-101 compliant mineral resource estimate. Samples from the remaining holes completed as part of the resource delineation program are currently being analyzed at the SGS laboratory in Mongolia.

Erdene Commences Resource Drilling on Altan Nar Gold-Polymetallic Project

Erdene Resource Development Corp. announced that a resource definition drilling program is now underway on its wholly owned Altan Nar gold-polymetallic project in the Tien Shan Gold Belt in southwest Mongolia. The drill program will seek to establish a near-surface, National Instrument 43-101 compliant resource estimate at the two most advanced target areas within the 5.6 km Altan Nar trend, now host to 18 target areas. RungePincockMinarco LLC has been selected to complete the Mineral Resource Estimate. Erdene's resource drilling program is targeting two heavily mineralized zones that, based on previous drilling and trenching results, suggest the presence of a high-grade and near-surface mineralized system. Approximately 1,700 m of drilling is expected to be completed by mid-December 2014, at Discovery Zone and Union North, the two most advanced target areas within the 5.6 by 1.5 km trend at Altan Nar, now host to 18 target areas. The drilling will be focused on extending the high-grade, near-surface mineralized zones, and to provide sufficient data to calculate a NI 43-101 compliant mineral resource at both target areas that is amenable to open pit mining. Drilling completed in the second quarter of 2014 returned high-grade, near-surface intersections from both of these areas. At the Discovery Zone, multiple, wide, gold-polymetallic intersections returned results ranging up to 17.7 g/t gold over 5 m, within 19 m of 5.8 g/t gold, 37 g/t silver and 2.6% combined lead and zinc, within 60 m of surface. At Union North, 1.3 km northwest of the Discovery Zone, multiple, near-surface gold-polymetallic zones have been intersected, including 14 m of 3.0 g/t gold, 7.1 g/t silver, and 1.7% combined lead and zinc, and 40 m below that hole, 12 m of 4.0 g/t gold, 10.1 g/t silver, and 2.5% combined lead and zinc. Drilling within these two target areas has established both vertical and lateral continuity of mineralization. Both mineralized zones outcrop at surface and have been intersected by trenching.

 

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