New molybdenum deposits found in Bayankhongor
Explorations by Erdene Resource Development Corp. of the Zuun Mod molybdenum/copper project have revealed 400-metre wide deposits of molybdenum in various locations at the site.
This new information adds to an initial resource estimate, reported in May 2008, which totaled 110 million tons averaging 0.061% molybdenum, which is an essential element added to strengthen iron for use in commercial products.
Providing an update on its principal projects in conjunction with the release of its 2009 first quarter financial results, the company has said it has “continued to make progress on the completion of the updated resource estimate” at the project, located within 200 km of China’s border in Bayankhongor Province. The project, wholly owned by Erdene, measures 12 km in circumference and hosts broad zones of molybdenum/copper mineralization.
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