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Our exploration efforts have identified multiple high priority targets including:
The Altan Nar gold-silver-lead-zinc deposit was discovered during a regional reconnaissance program. Since drilling the first hole in late 2011 (23 m of 2.1g/t gold), Altan Nar has progressed rapidly, now consisting of 18 high-grade, near-surface mineralized zones across a 5.6 x 1.5 km mineralized corridor that remains open at depth and along strike. Drilling in Q3 2015 returned 9 m of 7.3 g/t gold, 25 g/t Ag, 1.20% Pb, and 1.65% Zn (9.2 g/t Au equivalent) within a 38 m interval of 2.0 g/t gold, 55 m from surface. Altan Nar hosts multi-phase, epithermal mineralization dominated by an intermediate sulphidation, carbonate, base metal gold phase.
Erdene discovered Bayan Khundii in Q2-2015 during a regional reconnaissance program over a 1.4 km long zone of intensely silicified and sericitized volcanic units. The majority of the initial rock chip/grab samples returned highly anomalous values with over 20% of the samples returning values in excess of 3.0g/t gold (up to 4380 g/t gold). Erdene completed a maiden drill program in Q4 2015 that consisted of 15 diamond drill holes totaling 695m (average depth - 46m). Visible gold was observed in 10 of the 15 drill holes. Highlights include 35m of 5.7g/t gold, from surface to 35m depth (including 12m of 16.2g/t gold).
The Zuun Mod molybdenum property is located in southwestern Mongolia, 200km from railhead at Ceke on the Chinese border. In June 2011, Erdene released an updated National Instrument 43-101 compliant resource estimate for the Company’s Zuun Mod Molybdenum Project. The Zuun Mod deposit has a Measured and Indicated Resource of 218 Mt at an average grade of 0.057% molybdenum and 0.069% copper (0.04% Mo cut off grade). This equates to 273.5 million pounds of contained Mo metal and 330.7 million pounds of contained Cu metal. In addition, Zuun Mod has an Inferred Resource of 168 Mt averaging 0.052% molybdenum and 0.065% copper.
As part of a recent exploratory drilling program at Zuun Mod, Erdene completed a preliminary drill program and a deep penetrating (700 metres) induced polarization geophysical survey over a target area referred to as Khuvyn Khar (Black Cirque), located approximately 2.2 kilometres northwest of Zuun Mod. A total of six vertical holes were drilled over a 1.2 kilometre strike length in late 2010 and early 2011 targeting geophysical and geochemical anomalies in the Khuvyn Khar area. The original discovery hole (ZMD-121) is located at the north western end of the target area. Geophysical results have indicated that ZMD-121, which returned 1.34% copper and 9.24g/t silver over 34 metres (including 10 metres of 3.1% copper and 22.2 g/t silver), intersected a chargeability anomaly which intensifies to the south and at depth where the zone remains open.