Erdene announces drilling program for Altan Nar gold silver project
Tuesday, Mar 06, 2012
Erdene Resource Development Corp. ("Erdene") (TSX:ERD) is pleased to announce that a review and interpretation of the Altan Nar drilling results has been completed and the next phase of the drilling program designed. Drilling is expected to be underway by the first week of April.

Altan Nar Exploration Plans 2012 Erdene discovered the Altan Nar gold-silver prospect in 2011 during a regional exploration program on its tenement blocks, covering approximately 200,000 hectares in southwestern Mongolia. Following the discovery of mineralized epithermal-style quartz veins at Altan Nar, an extensive program of ground geophysics (magnetics and induced polarization), mapping, prospecting and soil geochemistry identified numerous gold targets throughout a large area (2 kilometre by 3 kilometre) with anomalous lead and zinc in soil.

Scout drilling in the second half of 2011 confirmed the presence of near-surface gold-silver mineralization ('Discovery Zone') over a strike length of 300 metres, with widths up to 125 metres. A wide intersection of steeply-dipping mineralization (55 metres at 1.02 g/t gold and 12 g/t silver) was encountered in an angled drill hole (TND-09; 45 degree). A subsequent hole (TND-19), drilled 50 metres below TND-09, intersected 29 metres of 4.3 g/t gold and 24.1 g/t silver at an approximate depth of 110 metres, thus confirming higher grades for both gold and silver mineralization at depth. The Discovery Zone remains open along strike and at depth.

Scout drilling was also conducted in Q4 2011 outside the Discovery Zone, over a 1.1 kilometre by 0.9 kilometre area to test other gold-silver targets within the larger 2 kilometre by 3 kilometre target area. Significant gold mineralization (i.e. greater than 0.5 g/t gold over one or more metres) was encountered in eight of 17 holes throughout the target area. Additional drilling is planned for 2012 to test these zones and other gold-silver targets once additional detailed geochemical and geophysical surveys are completed. The geochemical and geophysical surveys will commence once ground conditions permit.

Further drilling through a phased drill program is planned for Q2 2012. The initial focus will be on delineating grade and vertical extent of the Discovery Zone mineralization followed by regional target testing. As results from the phase one drill program provide confidence, the program will shift into defining the dimensions of the Discovery Zone and additional areas being further advanced through the regional target testing.

Prospectors and Developers Association of Canada (PDAC) Convention

Erdene's senior management and technical team will be in attendance at the PDAC 2012 International Convention, Trade Show and Investors Exchange - Mining Investment Show, March 4 to 7, Metro Toronto Conventions Centre - South Building. Investors are encouraged to drop by our booth (#2112) for an update of the Company's projects, including Altan Nar.

Qualified Person

J.C. (Chris) Cowan, P.Eng. (Ontario) is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. All samples have been assayed at SGS Laboratory in Ulaanbaatar, Mongolia. In addition to internal checks by SGS Laboratory, the company incorporates a QA/QC sample protocol utilizing prepared standards, blanks and duplicates.

Source: Marketwire

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