Erdene Drilling Confirms High-grades at Altan Nar

Erdene Resource Development Corp. reports that the resource drilling program at its wholly-owned Altan Nar gold-polymetallic exploration project in southwest Mongolia has confirmed continuity of near-surface, high-grade mineralization. Erdene President and CEO Peter Akerley said, “In addition to the significant grade and size potential of individual targets, what continues to be most impressive about Altan Nar is the high frequency of mineralized zones encountered throughout the 5.6-km-long district, indicating that Altan Nar has tremendous potential for the discovery of additional mineralized zones.”

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Highlands Pacific, Anglo American Form Papua New Guinea JV

Highlands Pacific announced in January that joint-venture exploration and development agreements between Highlands and Anglo American covering Highlands’ Star Mountains copper-gold project in western Papua New Guinea were due to be finalized by February 5. Anglo had completed due diligence on the project and was in the advanced stage of planning a drilling campaign, with exploration expected to begin during the first quarter of 2015.

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Larger Players Accounted for 40% of 2014 Global Non-ferrous Exploration Budgeting

The 25th edition of SNL Metals & Mining’s Corporate Exploration Strategies shows that 39 larger mining companies budgeted a total of $4.33 billion for worldwide non-ferrous exploration spending in 2014 and accounted for 40% of the $10.74 billion total budgeted by an overall group of 1,961 companies. Each of the 39 larger companies budgeted at least $50 million for exploration during the year.

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