181 0 Kommentare Erdene Announces Q2 2023 Results and Provides Khundii Minerals District Update

HALIFAX, Nova Scotia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) ("Erdene" or the "Company") is pleased to announce operating and financial results for the three and six months ended June 30, 2023 and to provide an update on recent accomplishments in its Khundii Minerals District (“KMD”). This release should be read in conjunction with the Company’s Q2-2023 Condensed Consolidated Interim Financial Statements and MD&A, available on the Company’s website and SEDAR.

Quotes from the Company:

“The second quarter of 2023 was another productive period for Erdene as we made significant progress on both the exploration and development of our Khundii Minerals District projects in Southwestern Mongolia,” said Peter Akerley, Erdene’s President and CEO. “With the close of the second stage of our Strategic Alliance with Mongolian Mining Corporation (“MMC”), we recently commenced early site works at the Bayan Khundii Gold Project, in advance of a full construction decision, expected later in 2023.”

“On the exploration front, the first phase of our 2023 exploration program expanded mineralization in the KMD and identified several targets for follow-up,” continued Mr. Akerley. “Drilling at the Zuun Mod project, one of Asia’s largest undeveloped molybdenum-copper deposits, demonstrates the potential to significantly increase the scale of resources. Additionally, exploration results from the first phase of the 2023 gold exploration program uncovered prospects that have the potential to add significant gold resources to the Bayan Khundii Gold Project.”

Q2-2023 Highlights and Significant Subsequent Events:

Bayan Khundii Gold Project

Progressed early works, site establishment and procurement for the BK Gold Project
- Completed detailed design and engineering for 12 of 14 facilities and commenced shop fabrication drawings for process plant
- Commenced next stage works for longest lead items under contract, including Mills, Elution Plant, and Filter Presses
- Initiated site preparation for construction, including access road repairs, temporary facilities, earth works, and batch plant installation
Progressed the NI 43-101 Feasibility Study for the Project
- Substantially completed the hydrogeological, metallurgy, geotechnical, mining, processing and cost estimation works for the 2023 FS update
- Updated NI 43-101 2023 FS scheduled to be delivered in mid-Q3 2023
Advanced regulatory approvals and secured key permits for mine development
- Obtained approval for 12 project facilities and received construction permits for nine facilities, including the process plant
- Received regulatory approval of the Project’s 2023 operational plans
Launched 2023 community engagement program
- Established Bayankhongor province branch office in early Q2
- Held community information sessions in advance of construction
- Implemented measures for the company’s herder livelihood support program and local cooperation activities