Entree Gold JV partner extends mineralization
2005-05-13 13:01 ET - News Release
Mr. Greg Crowe reports
HIGH-GRADE COPPER MINERALISATION EXTENDED 450 METRES INTO ENTREE'S LOOKOUT HILL
Entree Gold Inc.'s joint venture partner Ivanhoe Mines Ltd. has revealed that continuing step-out drilling has now extended high-grade copper mineralization 450 metres into the Copper Flats region of Entree's Lookout Hill property, in Mongolia's South Gobi region.
Hole EGD 008
Copper Flats is contiguous with, and directly north of, Ivanhoe's Oyu Tolgoi project, in an area that is being jointly explored by Entree and Ivanhoe. Hole EGD008, drilled on an azimuth of 270 degrees, inclined at negative 75 degrees and collared approximately 450 metres northeast of, and parallel to, hole EGD006, has intersected approximately 120 metres of very strong chalcopyrite and bornite (copper sulphide) mineralization, with minor visible gold associated with bornite, beginning at a downhole depth of 1,380 metres (true depth of approximately 1,340 metres). The mineralization is hosted in quartz monzodiorite, with intense quartz stockwork and quartz flooding.
EGD008 is still drilling ahead in visibly very strong copper mineralization at a downhole depth of 1,500 metres (true depth of approximately 1,460 metres below surface). The mineralization could project 400 metres to 500 metres up dip to the projected apex of the deposit relative to EGD006 and also is open down dip. Completion of the hole and assaying of the drill core are expected to take approximately one month.
Entree president, Greg Crowe, commented: "This intersection marks the northeastly strike extension of the high-grade Hugo Dummett deposit onto Entree's property. It should also be noted that holes EGD007 and EGD010, which currently are drilling in volcanic stratigraphy that typically lies above the Hugo North mineralization at Oyu Tolgoi, are located approximately one kilometre and 1.65 kilometres, respectively, northeast of hole EGD006.
"The strength of the mineralization to the north of Oyu Tolgoi emphasizes the richness of the Hugo Dummett deposit, which is developing into an extensive, regional porphyry system. Elsewhere in the world, these systems are known to host several deposits over many square kilometres. Exploration at Lookout Hill outside the Entree/Ivanhoe joint project property (currently at zones 1, 2 and 3) is in progress. Several areas known to host strong, porphyry-style alteration, with gold and copper values, will be tested by Entree to help determine the regional extent of what is developing into the world's richest copper-gold porphyry camp."
Holes EGD006 and EGD006A
Recently completed hole EGD006, collared on Entree's Lookout Hill, five metres north of the Oyu Tolgoi boundary, intersected 258 metres grading 2.56 per cent copper and 1.17 grams per tonne gold, with 108 metres of 4.63 per cent copper and 2.06 grams per tonne gold (copper equivalent grade of 5.94 per cent), starting at a depth of 1,008 metres.
Hole EGD006A, a navi-drill daughter hole from EGD006 to test the downward extension of the mineralization 80 metres downdip, has intersected approximately 200 metres of visibly very strong bornite-dominated copper mineralization, starting at 1,146 metres downhole, with a true depth of 1,125 metres below surface. The hole also intersected 112 metres of moderate-to-strong chalcopyrite mineralization, beginning at 1,038 metres downhole, which continued to the start of the higher-grade and deeper, bornite-rich zone at 1,146 metres. The hole is currently drilling at 1,320 metres in very strong, bornite-rich mineralization.
EDG008 has visibly extended the strike length of the Hugo North copper-gold discovery to greater than 2.2 kilometres. Hugo North is part of the now 3.5-plus-kilometre-long Hugo Dummett deposit which, in turn, is part of the 6.5-kilometre-long chain of copper and gold deposits discovered to date by Ivanhoe at Oyu Tolgoi.
Other drilling at Lookout Hill
Ivanhoe has six, deep-hole-capacity rigs drilling on Lookout Hill to test for the northeasterly extension of the Hugo North deposit. Holes EGD007 and EGD010 have been collared one kilometre and 1.65 kilometres, respectively, northeast of EGD006 to test for the potential strike extension of the deposit. The holes are targeted on the eastern flank of a geophysical induced polarization anomaly that extends approximately three kilometres north-northeast from the Entree/Ivanhoe property boundary. EGD007 and EGD010, currently at downhole depths of 1,009 metres and 1,073 metres, respectively, are drilling in volcanic and volcaniclastic rock units that typically overlie the Hugo deposit. A third drill hole, EGD016, collared midway between and parallel to EGD006 and EGD008, is currently drilling at a downhole depth of 960 metres and is expected to intersect the deposit between 1,000 metres and 1,050 metres downhole.
Quality control and assurance
Robert Cann, PGeo, Entree's exploration manager and a "qualified person" as defined by National Instrument 43-101, is responsible for the preparation of technical information in the company's news releases.
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