Entrée Gold Reports Additional Results of Pre-Feasibility Drilling Program at Ann Mason, Nevada
March 10, 2015
Mr. Crowe also noted, "Previous metallurgical work has also indicated that the Ann Mason deposit has recoveries greater than 90% and produces a high quality copper concentrate, with no penalty elements. Ann
Discussion of Results
The infill drill program commenced in
Results for the final 20 holes of the 40 hole program are reported in Table 1 below and, together with previous results, mark the completion of pre-feasibility infill drilling of the Ann Mason deposit within the Phase 5 pit discussed in the 2012 Preliminary Economic Assessment ("2012 PEA"). Twelve of the twenty holes reported in this press release ended in mineralization (copper values greater than the 0.15% copper cut-off). All of the reported holes intersected significant copper mineralization and lower grade holes tend to be located toward the northern-most border of the Phase 5 pit, in areas where strong mineralization was not expected. A drill plan and a table of detailed drill hole information is available on www.entreegold.com.
Drill result highlights include:
- EG-AM-14-043, located near the centre of the deposit, with 409 metres of 0.35% copper;
- EG-AM-14-059, with 466 metres of 0.31% copper;
- EG-AM-14-067, with 377 metres of 0.32% copper;
- EG-AM-14-073, on the northeast rim of the deposit, with 102 metres of 0.36% copper; and
- EG-AM-14-076, immediately northwest of 043, with 190 metres of 0.34% copper and a separate interval of 180 metres of 0.38% copper.
Table 1. Significant intercepts from 2014 Ann Mason drill holes.
- Holes marked with "*" ended in mineralization.
- Drill holes were not drilled in numerical order and those not listed in the table have been previously released (see
January 21, 2015news release).
- Drill intersections are based on drilled core lengths and may not reflect the true width of mineralization.
Approximately half of the reported drill hole intervals include sections with higher than average copper grades, many in the 0.40% to 0.50% copper range. In addition, several holes returned intervals with higher than average gold (0.08 to 0.13 grams per tonne ("g/t")) and silver grades (1.35 to 2.58 g/t), including holes EG-AM-14-043, 059, 067, 070, 071 and 073. Several of the reported holes also intersected significantly higher than average molybdenum grades (0.010 to 0.033% Mo).
RC pre-collars were generally restricted to barren, overlying volcanics. Drilling changed to HQ diameter core, which was continually sampled over 2 metre intervals once mineralized rocks of the
The 2012 PEA envisions a 24 year conventional open pit mine and sulphide flotation mill operating at a throughput rate of 100,000 tonnes per day and is based on mineralization contained within the Phase 5 pit. Over the life-of-mine, the 2012 PEA estimates average copper recovery of approximately 93%, producing a clean, 30% copper concentrate with average annual production of 214 million pounds of copper. There is potential to increase the mine life of Ann Mason through additional drilling and engineering studies.
The 2012 PEA is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the 2012 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
RC chips and split core samples were prepared at
Drill intersections described in this news release are based on drilled core lengths and may not reflect the true width of mineralization.
Entrée met with delegates sent by the Government of
2012 PEA AND QUALIFIED PERSON
The 2012 PEA titled "Amended and Restated Preliminary Economic Assessment on the
ABOUT ENTRÉE GOLD INC.
Additionally, as a joint venture partner with a carried interest on a portion of the Oyu Tolgoi mining project in
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws.
Forward-looking statements include, but are not limited to, statements with respect to the preparation and release of an updated resource estimate and Preliminary Economic Assessment; the potential for estimating reserves on the Ann Mason deposit; the potential development of Ann Mason; the potential for Ann Mason to serve as a source of feed for smelters; the estimation of mineral reserves and resources; the realization of mineral reserve and resource estimates; anticipated future production, cash flows and mine life; the potential impact of future exploration results on Ann Mason mine design and economics; anticipated capital and operating costs; potential types of mining operations; potential metallurgical recoveries and grades; plans for future exploration and/or development programs and budgets; the potential development of future phases of the Oyu Tolgoi project, including Lift 1 of the Hugo North Extension deposit; the resolution of outstanding issues with the Government of
While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of Entrée's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements and information. Such factors and assumptions include, amongst others, that the size, grade and continuity of deposits and resource and reserve estimates have been interpreted correctly from exploration results; that the results of preliminary test work are indicative of what the results of future test work will be; that the prices of copper, gold, molybdenum and silver will remain relatively stable; the effects of general economic conditions, changing foreign exchange rates and actions by Rio Tinto,
In addition, there are also known and unknown risk factors which may cause the actual results, performances or achievements of Entrée to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements and information. Such factors include, among others, risks related to international operations; risks associated with changes in the attitudes of the governments to foreign investment; discrepancies between actual and anticipated production, mineral reserves and resources and metallurgical recoveries; global financial conditions; changes in project parameters as plans continue to be refined; inability to upgrade inferred mineral resources to indicated or measured mineral resources; inability to convert mineral resources to mineral reserves; conclusions of economic evaluations; future prices of copper, gold, silver and molybdenum; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining government approvals, permits or licences or financing or in the completion of development or construction activities; environmental risks; title disputes; limitations on insurance coverage; as well as those factors discussed in the section entitled "Risk" in the Company's most recently filed Management's Discussion and Analysis and in the Company's Annual Information Form for the financial year ended
Manager Investor Relations
604-687-4777 / Toll Free: 866-368-7330