Assays Confirm Significant Copper and Gold at Copper Flats
April 27, 2005
Vancouver, B.C., Wednesday, April 27, 2005 - Entrée Gold Inc. (TSX-V: ETG – “Entrée” or the “Company”) is pleased to report on assay results from diamond drill hole EGD006, in which Ivanhoe Mines Ltd. (NYSE: IVN; TSX: IVN– “Ivanhoe”) and Entrée recently confirmed (News Releases of April 13 and 14, 2005, respectively) the extension of Hugo North Deposit high-grade copper mineralization to Entrée’s Copper Flats target area, immediately north of Ivanhoe’s Oyu Tolgoi property.
Diamond drill-hole EGD006 was collared approximately five meters north of the Entrée/Ivanhoe property boundary. Copper and gold mineralization was encountered further north of this boundary, as the hole drifted northwards as it deepened.
Strong copper mineralization was first intercepted at a down-hole depth of 992 meters (true depth of approximately 960 meters). Bornite and chalcopyrite (copper sulphide) mineralization occurs with pervasive quartz, sericite and advanced argillic alteration. Varying degrees of mineralization of this type were encountered to a down-hole depth of 1,250.7 meters. The hole was terminated at a depth of 1,279 meters, after intersecting the West Bat Fault at approximately 1,250 meters.
Significant intercepts in EGD006 include:
|992 – 1,250||258||2.56||1.17||3.31|
|1,008 – 1,146||138||3.96||1.65||5.01|
|1,038 – 1,146||108||4.63||2.06||5.94|
|1,108 – 1,136||28||5.47||4.19||8.14|
* Copper equivalent grades have been calculated using assumed metal prices (US$0.80/lb. for copper and US$350/oz. for gold); %Cu equivalent = %Cu + [Au(g/t)x(11.25/17.64)]
Greg Crowe, Entrée’s President and CEO, commented: “These assays confirm the northward continuation of high-grade copper and gold mineralization encountered in the Hugo North Deposit. Ivanhoe has now deployed seven rigs that are evaluating exploration targets to the north of the Entrée-Ivanhoe property boundary, with one hole, EGD006A, a ‘daughter hole’ of EGD006, designed to test the down-dip extension of this mineralized system.”
EGD006 has extended the length of the Hugo North high-grade copper-gold zone to greater than 1.8 kilometers. Hugo North is part of the three-kilometer-long Hugo Dummett Deposit, which, in turn, is part of the 6.1-kilometer-long chain of copper and gold deposits discovered to date by Ivanhoe at Oyu Tolgoi.
Separately, Entrée continues to explore the 140,000 hectares of its Lookout Hill property that lie to the west of the Entrée/Ivanhoe Project, and are not subject to the project agreement. It has also commenced exploration on its Ulziit Uul property, located approximately 120 kilometers north of Lookout Hill.
Exploration in Mongolia is under the supervision of Robert Cann, P.Geo., Entrée’s Exploration Manager and a qualified person as defined by National Instrument 43-101. Mr. Cann is responsible for the preparation of technical information in the Company’s news releases. All rock samples are prepared and analyzed by SGS Mongolia LLC of Ulaanbaatar, Mongolia. Randomly selected pulps and all soil samples are submitted to Acme Analytical Laboratories Ltd. of Vancouver, British Columbia for check assaying and analytical work. Ivanhoe’s QA/QC program is monitored by independent consultant Dr Barry Smee, P.Geo., and managed on site by Dale Sketchley, M.Sc., P.Geo. Prepared standards and blanks are inserted at the sample preparation lab on the project site to monitor the quality control of the assay data.
ABOUT ENTRÉE GOLD INC.
Entrée Gold Inc. (www.entreegold.com) is an exploration stage junior resource company engaged in the exploration of gold and copper prospects. The Company is a large landholder in Mongolia"s south Gobi Desert, near the Chinese border. Entrée maintains 100% royalty-free interest in the 179,590 hectare Lookout Hill (Shivee Tolgoi) property which completely surrounds Ivanhoe Mines Ltd."s (Ivanhoe"s) 8,500 hectare Turquoise Hill (Oyu Tolgoi) holdings. Ivanhoe has an earn-in agreement with Entrée whereby Ivanhoe can earn an interest in an area covering approximately 22% (approximately 40,000 hectares) of Entrée"s Lookout Hill property. Ivanhoe commenced drilling on the potential northerly extension of the Hugo Dummett Deposit onto Lookout Hill in February 2005. The Company trades on the TSX Venture Exchange under the symbol ";ETG".
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as ";may", ";should", ";expects", ";plans", ";anticipates", ";believes", ";estimates", ";predicts", ";potential" or ";continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry"s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements in this news release include those concerning the Company"s belief that the drilling program of Ivanhoe on the Company"s property may discover an extension of Oyu Tolgoi porphyry related mineralization.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled ";Risk Factors" in the Company"s periodic filings with the British Columbia Securities Commission, which can be viewed at www.SEDAR.com, and with the United States Securities and Exchange Commission, which can be viewed at www.SEC.gov.