Erdene Resource Development Corp. (ERD.TO) has initiated a further round of drilling on its 100% owned Altan Nar project in southwestern Mongolia.

The current drilling program was started on October 7 and is expected to include up to 20 shallow holes, totaling approximately 2,500 metres. Fifteen exploration targets have been identified over a 5 kilometre by 1.5 kilometre area following the completion of a detailed soil geochemical survey and an induced polarization gradient array survey over the Altan Nar project.

ERD has gained nearly 4%, hitting $0.265. Volume traded is over 5,000.