Erdene Resource Development (TSX: ERD)
Announced an updated mineral resource estimate for its 100% owned Zuun Mod molybdenum-copper porphyry project, located in the Khundii Minerals District, in southwestern Mongolia.
The updated resource estimate, when compared to the previous, demonstrates a significant increase.
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Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN; OTCQB:ERDCD) (“Erdene” or the “Company”) is pleased to announce an updated mineral resource estimate for its 100% owned Zuun Mod molybdenum-copper porphyry project, located in the Khundii Minerals District, in southwestern Mongolia.
HIGHLIGHTS
- 100% owned license hosts one of Asia’s largest undeveloped molybdenum-copper deposits
- Only 35 kilometers from Erdene Mongol’s Bayan Khundii Gold Mine in region of growing infrastructure and 180 kilometres from China, the world’s largest molybdenum consumer
- The updated resource estimate, when compared to the previous, demonstrates a significant increase:
- 22% increase in Measured and Indicated molybdenum (“Mo”) resources to 333 million pound (“Mlbs”) and 95% increase in Inferred Mo resources to 300 Mlbs
- 16% increase in Measured and Indicated copper (“Cu”) resources to 384 Mlbs and 75% increase in Inferred Cu resources to 350 Mlbs
- Substantial exploration upside within very large molybdenum-copper and copper-silver porphyry complex
- Drilling planned in Q4 2025 to test expansion opportunities and copper targets
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Peter Akerley, Erdene’s President and CEO commented,
“We are very pleased to report the updated resource, confirming Zuun Mod as one of Asia’s largest undeveloped molybdenum-copper projects.
“The project is located less than 200 kilometres from the world’s largest molybdenum and copper consumer and steel producer, in a region seeing rapid infrastructure build-out, including Erdene’s Bayan Khundii Gold Mine.
“Molybdenum is highly valued as a critical mineral with growing demand in the advanced electronics, aerospace and defense sectors and expanding processing capacity in the region. The outlook for molybdenum is bullish and production from Zuun Mod is expected to be readily absorbed in the market.
“With an improved understanding of geologic and structural controls of the deposit, several opportunities for enhancement and expansion have materialized. Drilling is planned in Q4 to test these opportunities as well as copper targets in the northern portion of the porphyry complex.
“As we define the deposit further, we are continuing to progress marketing and technical studies to advance the project.”
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Erdene Resource Development
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