AKIPRESS.COM - Mongolia may still be suffering a bad reputation from prolonged talks over the underground expansion of Rio Tinto’s Oyu Tolgoi copper-gold mine, but while companies are still able to find mineralization akin to what Erdene Resource Development Corp. has stumbled upon at its Bayan Khundii gold project, explorers will keep coming to this part of Asia, according to Mining Journal.

After releasing the first seven holes of a planned 5,000m drill program at Bayan Khundii, in the country’s southwest, the company has more than doubled its footprint to 14,000m to take in targets at its flagship project and its neighboring Altan Nar and Altan Arrow assets.

The decision comes as no surprise, with Erdene clearly chasing something substantial.

The standouts include a 116m intersection grading 2g/t Au from surface at the Striker zone at Bayan Khundii, which was accompanied by a 112m hit cutting 1.2g/t Au from surface nearby.

Investors liked what they saw judging by the 8% share price rise.