Erdene Resource moving forward with flagship project in Mongolia
The company has won the Exploration Mining Company of the Year Award in Hong Kong.
Erdene Resource is moving forward with flagship project in Mongolia. The company has won the Exploration Mining Company of the Year Award in Hong Kong. Canada’s Erdene Resource Development, the company that literally struck gold earlier this year after finding its new Mongolia-based gold project expects to move Bayan Khundii towards its maiden resource estimate by 2018. Erdene already completed 10 km of drilling at its Bayan Khundii gold project, which went from Greenfield prospect to being its main asset in roughly nine months. In 2012, Erdene began working on its Altan Nar gold-polymetallic project in the Tien Shan Gold Belt of southwest Mongolia at a time when other miners were struggling to achieve agreements with the country’s shifting policy makers. Shortly after, the firm found a new project — Bayan Khundii — that quickly became its flagship venture. “The country is opening the exploration sector for more licenses and it has recently signed a protection agreement with the US and Canada,” he noted as a clear example of the improved business environment in the nation. While it's still relatively early days for Bayan Khundii, discovered in late 2015, over the next 12 to 18 months the company expects to define the resource, de-risk the deposit and then move towards production. In addition to Bayan Khundii and Altan Nar, Erdene Resource has two other exploration licenses and a mining permit in southwest Mongolia.
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