Friday, November 30, 2007

Erdene Gold says Zuun Mod site has larger deposits than previously estimated

Canadian-based Erdene Gold Inc. (TSX: ERD) has announced larger deposits of copper and molybdenum have been discovered at its Zuun Mod site.

Molybdenum is a silver-white metallic element, used as an alloy with iron in making hard, high-speed cutting tools.

"Zuun Mod continues to impress our technical team with these latest results further defining two large open pit targets which is exciting given we have only drill-tested a small portion of the known molybdenum and copper anomaly" said Peter Akerley, President and C.E.O. "As China moves to restrict molybdenum exports and foreign investment in molybdenum projects and producers announce reductions in future supply, the market is undergoing significant tightening."

Of particular note is that the new deposits have been found close to the surface and extend for up to 231 meters in initial estimates.

Also of importance is that the Zuun Mod site lies only 200 kilometers by rail into China, which is the largest consumer of molybdenum in the world.

Friday, 30 November 2007

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