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News
Latest Drilling Extends Entrée Gold’s Heruga Deposit, Mongolia
February 26, 2008
Vancouver, B.C., February 26, 2008 - Entrée Gold Inc. (TSX:ETG; AMEX:EGI; Frankfurt:EKA – “Entrée” or the “Company”) announces additional gold, copper and molybdenum mineralization has been intersected on the Heruga deposit, increasing the strike length of the deposit by a further 200 metres. Drilling is being conducted by partner and project operator, Ivanhoe Mines Ltd. (TSX: IVN; NYSE: IVN; NASDAQ: IVN – “Ivanhoe Mines”).
The Heruga deposit is situated within the Company’s Javhlant licence, in southern Mongolia, immediately south of Ivanhoe Mines’ Oyu Tolgoi copper and gold deposit. Previously announced results from drilling have identified significant molybdenum-rich copper-gold mineralization. Results for six additional drill holes (EJD008A, EJD0023, EJD0024, EJD0025, EJD0026 and EJD0027) have been received. These results confirm that the Heruga discovery extends for a strike length of at least 1,800 metres, and remains open to the north, south and east.
Hole EJD0024 returned a very significant gold intercept averaging 2.05 grams per tonne (“g/t”) gold and 0.52% copper over 238 metres. Other significant results from EJD008A, EJD0023, EJD0024, EJD0025, EJD0026 and EJD0027 are listed in Table 1.
Greg Crowe, President and CEO of Entrée commented, “Mineralization at Heruga is exceptional not only in its high gold content, but also in its molybdenum content. In comparison to the rich Hugo North Extension system that was drill-defined over a strike length of 625 metres on the Shivee Tolgoi property, Heruga has now been defined over a strike length of 1,800 metres and remains open. It is clearly a substantial addition to the mineralization outlined to date on Oyu Tolgoi and Shivee Tolgoi. We are anticipating additional drill results and a resource estimate for Heruga in the foreseeable future.”
Discussion and Highlights of Recent Drilling
Over 42,000 metres have been drilled to date on Heruga, outlining a coherent block of copper-gold-molybdenum mineralization extending for approximately 1,800 metres north-south, with a vertical thickness typically varying between 400 to 800 metres, and a width of 200 to 300 metres. The shallowest portion of this mineralized system starts at a vertical depth of between 500 and 600 metres. Ivanhoe Mines continues to drill the deposit, with four rigs currently on site.
The new results add to the known mineralization along the east side of the deposit (drill holes EJD008A, EJD0023, EJD0024, EJD0026) while drill hole EJD0025 adds mineralization 200 metres north of previously defined mineralization (EJD001A and EJD008A section). Drill hole EJD0027 is an infill hole between the EJD001A section, 150 metres to the north and the EJD007 section, 150 metres to the south.
Results from the six additional holes are summarized in Table 1. Hole collar locations are shown on a map posted on the Entrée website at www.entreegold.com. Earlier drill results from Heruga were reported in news releases dated October 3 and October 9, 2007, and January 16, 2008.
Table 1. Selected mineralized intervals from the Heruga Deposit
| Down-hole depth from - to metres (“m”) |
Interval |
Cu |
Au |
Mo |
CuEq* % |
|
EJD008A |
|
|
|
|
|
|
1132.0 - 1754.0 |
622.0 |
0.34 |
0.59 |
102 |
0.81 |
|
Incl. 1132.0 - 1310.0 |
178.0 |
0.62 |
0.20 |
299 |
1.01 |
|
Incl. 1338.0 - 1406.0 |
24.0 |
0.56 |
0.52 |
169 |
1.04 |
|
Incl. 1424.0 - 1494.0 |
70.0 |
0.38 |
0.95 |
41 |
1.02 |
|
|
|
|
|
|
|
|
EJD0023 |
|
|
|
|
|
|
1110.0 - 1216.0 |
106.0 |
0.35 |
0.97 |
22 |
0.99 |
|
1302.0 - 1328.0 |
26.0 |
0.24 |
1.92 |
28 |
1.48 |
|
1500.0 - 1550.0 |
50.0 |
0.23 |
0.45 |
16 |
0.53 |
|
|
|
|
|
|
|
|
EJD0024 |
|
|
|
|
|
|
1252.0 - 1614.0 |
362.0 |
0.41 |
1.59 |
40 |
1.45 |
|
Incl. 1252.0 - 1490.0 |
238.0 |
0.52 |
2.05 |
49 |
1.86 |
|
Incl. 1280.0 - 1372.0 |
92.0 |
0.89 |
3.60 |
67 |
3.23 |
|
|
|
|
|
|
|
|
EJD0025 |
|
|
|
|
|
|
916.0 - 924.0 |
8.0 |
1.35 |
0.03 |
286 |
1.61 |
|
924.0 - 970.0 |
46.0 |
0.26 |
0.11 |
102 |
0.42 |
|
996.0 - 1140.0 |
144.0 |
0.58 |
0.20 |
130 |
0.82 |
|
1160.0 - 1214.0 |
54.0 |
0.56 |
0.15 |
232 |
0.86 |
|
|
|
|
|
|
|
|
EJD0026** |
|
|
|
|
|
|
1066.0 - 1168.0 |
102.0 |
0.40 |
0.13 |
301 |
0.74 |
|
1168.0 - 1252.0 |
84.0 |
0.22 |
0.20 |
102 |
0.44 |
|
1484.0 - 1784.0 |
300.0 |
0.33 |
0.51 |
102 |
0.74 |
|
Incl. 1484.0 - 1588.0 |
104.0 |
0.56 |
0.55 |
233 |
1.12 |
|
|
|
|
|
|
|
|
EJD0027 |
|
|
|
|
|
|
852.0 - 1380.0 |
528.0 |
0.64 |
0.49 |
218 |
1.14 |
|
Incl. 1282.0 - 1380.0 |
98.0 |
0.66 |
1.23 |
52 |
1.49 |
|
1380.0 - 1800.0 |
pending |
|
|
|
|
* Copper Equivalent estimated using $1.15/pound copper (“Cu”), $500/ounce gold (“Au”) and $10/pound molybdenum (“Mo”), without regard to recoveries.
** Hole ended at 1807.3 m in mineralization.
Additional drill results and sections from the Heruga deposit will be posted to Entrée’s web site at www.entreegold.com and to Ivanhoe Mines’ website at www.ivanhoemines.com.
Quality Assurance and Quality Control
Robert Cann, P.Geo., Entrée’s Vice-President, Exploration, and a qualified person as defined by NI 43-101, supervised the preparation of the information in this news release.
SGS Mongolia LLC prepares the split core at the project site and assays all samples at its facility in Ulaanbaatar, Mongolia. 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. In-house, matrix-matched copper-gold-molybdenum 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 a Canadian mineral exploration company focused on the worldwide exploration and development of gold and copper prospects. Most notably, the Company is a large landholder in Mongolia, where it holds a 100% interest in mineral concessions that comprise the 179,590-hectare Lookout Hill (Shivee Tolgoi) property, which completely surrounds the 8,500-hectare Turquoise Hill (Oyu Tolgoi) project of Ivanhoe Mines, and hosts the Hugo North Extension of the Hugo Dummett deposit and the newly discovered Heruga deposit.
Under an “Earn-In Agreement” announced in October 2004, Ivanhoe Mines has the right to earn an interest in approximately 40,000 hectares of Entrée’s Lookout Hill property. Details of the Earn-In Agreement are available on Entrée’s website at www.entreegold.com and on SEDAR at www.sedar.com. The Hugo North Extension on Lookout Hill, identified through drilling conducted by Ivanhoe Mines as part of the Earn-In Agreement, contains an Indicated Resource of 117 million tonnes averaging 1.8% copper and 0.61 g/t gold for a copper equivalent grade of 2.19%. The contained metal in this Indicated Resource is estimated at 4.6 billion pounds of copper and 2.3 million ounces of gold. An additional Inferred Resource for this area is estimated at 95.5 million tonnes grading 1.15% copper and 0.31 g/t gold for a copper equivalent grade of 1.35%, containing 2.4 billion pounds of copper and 950,000 ounces of gold. Both the Indicated and Inferred Resources use a 0.6% copper equivalent cut-off grade. No consideration was made for metallurgical recoveries. (See the Company’s news release from March 29, 2007).
The Company continues to explore its large landholdings in Mongolia as well as evaluating new opportunities throughout the region and elsewhere in Asia. Entrée plans to explore the Huaixi copper project in Zhejiang Province in China, under the terms of an agreement with the No. 11 Geological Brigade. In North America, the Company is exploring for copper-molybdenum porphyry systems in the southwest United States and seeking additional opportunities to utilize its expertise in exploring for deep and/or concealed ore deposits.
Ivanhoe Mines and Rio Tinto are major shareholders of Entrée, holding approximately 15% and 16% of issued and outstanding shares respectively.
FURTHER INFORMATION
| Monica Hamm, Investor Relations Entrée Gold Inc. Tel: 604-687-4777 E-mail: [email protected] |
Primoris Group |
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