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erdene resource development (ERD) Snapshot

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03/3/14 - C$0.26
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Market Cap
9.5M
Average Volume 10 Days
22.8K
EPS TTM
C$-0.04
Shares Outstanding
82.6M
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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 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.

Erdene Resource Development Corporation Provides Altan Nar Exploration Update

Erdene Resource Development Corp. reported further significant gold, silver and base metal results from a trenching program completed in the third quarter at the company's 100%-owned Altan Nar gold-polymetallic project in southwest Mongolia. The results have extended known zones of mineralization and confirmed mineralization within previously untested target areas. In combination with previous drill and trench results, the recently completed exploration program has further established the base for the implementation of an initial resource drilling program at the Discovery Zone and Union North, the two most advanced and promising of 18 identified target areas at Altan Nar. The drill program is expected to commence later this month. Union North trenching returned multiple mineralized zones highlighted by a 12 meters wide zone of 3.7 g/t gold, extending Union North 100 meters south. Junction, a previously untested target area, located 600 meters east of the Discovery Zone, returned multiple high-grade rock chip samples, including 11 g/t gold, and returned a base metal rich trench that included 4 meters of 3.7% zinc, 1.2% lead, and 16 g/t silver within a broad 26 meters zone of 0.8% zinc. The early-stage Maggie target continues to demonstrate continuity of mineralization with step-out trenches along trend returning 8 meters of 2.0 g/t gold equivalent to the northeast and 5 meters of 1.2 g/t gold equivalent to the southwest. Altan Nar Project Highlights: Altan Nar represents a new, very large, gold-base metal epithermal discovery in the Tian Shan Belt of southern Mongolia. Eighteen individual targets, ranging from hundreds of metres in length to over a kilometre, exhibit gold, silver and base metal mineralization at surface. Two advanced target areas, the Discovery Zone and Union North, are now at the stage for near-surface resource definition; The Discovery Zone has been traced over 450 meters and remains open with multiple parallel gold-polymetallic zones coming to surface with up to 17.7 g/t gold over 5 meters, within 19 meters of 5.8 g/t gold, 37 g/t silver and 2.6% combined lead and zinc. The Union North target area, 1.3 km northwest of the Discovery Zone, has been traced over 300 meters, remains open in all directions, and hosts multiple gold-polymetallic intersections including up to 12 meters of 4.0 g/t gold, 10 g/t silver and 2.5% combined lead and zinc in shallow drilling and extending to surface.

 

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