|By Marketwired .||
|April 21, 2014 09:29 AM EDT||
HALIFAX, NOVA SCOTIA -- (Marketwired) -- 04/21/14 -- Erdene Resource Development Corp. (TSX: ERD) ("Erdene" or "Company"), is pleased to announce it intends to issue, by way of a non-brokered private placement, up to 4,062,500 units at a price of $0.16 per unit for gross proceeds of up to $650,000 ("Private Placement"). Each unit will consist of one common share of the Company and one-half of one common share purchase warrant, with each whole common share purchase warrant ("Warrant") entitling the holder to purchase one common share of the Company at a price of $0.24 for a 24 month period from the closing date. If the closing price of the Company's common shares trading on the Toronto Stock Exchange ("TSX") is $0.36 or higher for 30 consecutive trading days, the Company may, in its sole discretion, accelerate the expiry period of the Warrants by providing written notice of such acceleration by way of a news release ("Acceleration Notice"), such that the exercise period of the Warrants will expire on that day which is 30 days from the date of the Company's Acceleration Notice.
Net proceeds of the Private Placement will be used for exploration of the Company's metal projects in Mongolia, including drilling at the Company's 100% owned Altan Nar gold-polymetallic project, to commence in late April. The Private Placement is expected to close on or before May 2nd, 2014, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the TSX. All securities to be issued pursuant to the Private Placement will be subject to a four month hold period from the closing date. Finder's fees may be payable on a portion of the financing.
Altan Nar Gold Project - Drill Program
Altan Nar exploration results, announced on January 22nd, 2014 included multiple, high grade gold, silver and base metals zones (click here for Erdene's news release). Follow-up drilling is expected to commence in late-April and will include 10 drill holes totaling approximately 1,000 m. The drill program will test continuity of these high priority targets, some of which have yet to be drill tested. Erdene field crews were mobilized to site the first week of April. Detailed surface work is underway, including higher density geochemical sampling, mapping, and a an expanded induced polarization survey. This work will provide a greater understanding of the extent of the multiple mineralized structures identified to date and provide a stronger base for designing a more extensive follow-up resource delineation drill program.
Targets included in the drill program will be the Discovery Zone, Union North, Union South, Maggie, Northbow and Southbow. The following section and enclosed maps provide additional details on each target.
Drilling and trenching over the Discovery Zone has demonstrated vertical and lateral continuity of gold-polymetallic mineralization along a 400 m strike length and to a maximum depth of 230 m. In the fourth quarter of 2013, three continuous trenches over a 250 m strike length returned 44 to 50 m of greater than 1 g/t gold. The prospect is characterized by near-surface, sub-vertical zones of gold and silver mineralization up to 50 m in width with high grade zones that include intervals up to 29 m averaging 4.3 g/t gold and 24.1 g/t silver. This prospect has received the majority of the drilling to date albeit at shallow levels with the deepest hole ending in 5 m of 4.7 g/t gold at 230 m depth.
Located 1.3 km northwest of the Discovery Zone, Union North has been tested by a series of four, east-west oriented trenches and a single drill hole. An intensely mineralized system has been outlined within a 150 m by 150 m area that is open along strike and at depth. The target is centered on high grade mineralized quartz-sulfide breccia shoots with trenches returning up to 19 m of 8.9 g/t gold, 66 g/t silver, 7.7% lead and 2.5% zinc, including 7 m of 20.2 g/t gold, 138 g/t silver, 17.3% lead and 5.3% zinc. The single drill hole returned 47 m of 1.3 g/t gold, including 9 m of 4.3 g/t gold, 12 g/t silver, and 1.7% combined lead-zinc.
The Union South prospect is located approximately 550 m south of Union North. A trench intersected a high grade zone that returned 10 m of 4.5 g/t gold, 8.9 g/t silver and 2.2% lead. This trench is located 120 m north of a drill hole which returned 10 m of 1.7 g/t gold including 4 m of 3.7 g/t gold and a second zone of 11 m of 0.8 g/t gold.
The Maggie prospect is located approximately 1 km north of the Discovery Zone and 700 m east of the Union North prospect. A single trench uncovered a well mineralized zone, 38 m wide and hosted by an altered andesite cut by two, barren, post-mineralization dykes (7 m and 2 m wide). Excluding the 9 m of post-mineralization dyke, the central mineralized zone returned 17 m of 3.4 g/t gold, 4.9 g/t silver and 1.4% combined lead-zinc. The target is open along strike, and has not been drill tested.
Northbow and Southbow
The Northbow prospect, located 600 m to the west of Union North, is defined by a north-south trending, strong gradient-IP chargeability anomaly. This feature extends 800 m south where it widens and intensifies into the sediment covered Southbow prospect. Recent trenching on the northern edge of sediment cover returned 9 m of 1.3 g/t gold, 6.6 g/t silver and 1.3% combined lead-zinc. Results from Northbow are significant in that they are the first confirmation that gold mineralization is associated with the Southbow geophysical anomaly, the largest and most intense anomaly identified to date on the Altan Nar property. The Northbow and Southbow targets have not been drill tested.
J.C. (Chris) Cowan, P.Eng. (Ontario), VP Asia for Erdene, is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
Erdene Resource Development Corp. is a Canada-based resource company focused on the acquisition, exploration, and development of base and precious metals in underexplored and highly prospective Mongolia. For further information on the Company, please visit www.erdene.com. Erdene has 70,672,112 issued and outstanding common shares and, a fully diluted position of 82,111,301 common shares.
Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. The Company does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE
To view the maps accompanying this press release please click on the following link: http://media3.marketwire.com/docs/ERD0421.pdf
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Mar. 24, 2017 02:45 PM EDT Reads: 2,476
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Mar. 24, 2017 01:30 PM EDT Reads: 1,493
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Mar. 24, 2017 01:15 PM EDT Reads: 410
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Mar. 24, 2017 01:15 PM EDT Reads: 3,780
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 24, 2017 12:45 PM EDT Reads: 232
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Mar. 24, 2017 12:45 PM EDT Reads: 1,805
FinTech is the sum of financial and technology, and it’s one of the fastest growing tech industries. Total global investments in FinTech almost reached $50 billion last year, but there is still a great deal of confusion over what it is and what it means – especially as it applies to retirement. Building financial startups is not simple, but with the right team, technology and an innovative approach it can be an extremely interesting domain to disrupt. FinTech heralds a financial revolution that...
Mar. 24, 2017 12:30 PM EDT Reads: 2,952
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Mar. 24, 2017 12:15 PM EDT Reads: 882
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 24, 2017 12:15 PM EDT Reads: 1,324
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Mar. 24, 2017 12:00 PM EDT Reads: 1,821
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Mar. 24, 2017 12:00 PM EDT Reads: 1,582
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 24, 2017 11:30 AM EDT Reads: 3,282
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 24, 2017 10:55 AM EDT Reads: 379
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facing...
Mar. 24, 2017 10:45 AM EDT Reads: 10,577
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 24, 2017 10:45 AM EDT Reads: 1,351