Erdene Gold Inc. (TSX: ERD)
has announced that exploration has determined that the Zuun Mod site
in southwest Mongolia may be one of the largest Molybdenum deposits
in Asia.
Molybdenum is a mineral used
in the hardening of alloy steels and tungsten. This is critical when
making steel tools and other hardened steel applications.
"Today we have established
Zuun Mod as one of the largest and most advanced pre-development molybdenum
projects in the North Asia region, an area with the largest growth in
molybdenum consumption globally," said Peter Akerley, Erdene Gold
President and CEO. "We are very excited to begin to advance the
project through the feasibility stages and equally by the great potential
we see for discovering additional deposits within this tremendously
large mineralized complex."
Activity at the site includes
continuing drilling to identify the most promising deposits as plans
are drawn up to mine the site.
The Zuun Mod property is within
180 kilometres of China's border. The project is also close to where
China is building its infrastructure to access Mongolia's mineral resources.
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