VANCOUVER, April 30 /CNW/ - Entrée Gold Inc. (TSX:ETG; NYSE Amex: EGI;
Frankfurt:EKA - "Entrée" or the "Company") has expanded its Lordsburg
copper-gold discovery in New Mexico, intersecting significant intervals of
porphyry-style copper-gold mineralization in three additional holes. Of
particular note, a near surface intersection in hole EG-L-09-006 returned
potentially economic grades of 0.2% Cu and 0.2 g/t Au over 118 metres (390
Three additional core holes totaling 1,214 metres (3,980 feet) have been
completed on the porphyry zone discovered in late 2008. The initial
intersection (hole EG-L-08-002) returned 310 metres (1,015 feet) of
porphyry-style mineralization averaging 0.14% Cu and 0.08 g/t Au (refer to
news release dated January 15, 2009).
The exploration program to date has consisted of diamond drilling,
detailed geological mapping and soil geochemical sampling. The zone of surface
alteration and anomalous geochemistry now exceeds 1.2 kilometres (3,940 feet)
in length and 600 metres (1,970 feet) in width. Within this zone, drilling has
confirmed sub-surface mineralization over a 300 x 400 metre area. Potassic
alteration and sulphide-quartz veining are associated with feldspar porphyry
intrusives cutting andesitic volcanics. Mineralization appears best developed
in the contact area between the porphyry and volcanics, where it is hosted in
part by an intrusive breccia.
All four holes drilled within this zone, including previously reported
results from hole EG-L-08-002, have encountered near surface porphyry-style
copper-gold mineralization (see table below). This confirms the presence of
extensive, previously unrecognized, porphyry-style mineralization in the
Lordsburg District. While showing many attributes of typical porphyry
mineralization, the Lordsburg intersections are unusually gold-rich in
comparison to other porphyry deposits in the southwest USA. The Cu (%) to Au
(g/t) ratio at Lordsburg is close to 1:1.
Interval Length Cu Au
Hole No. (m) (m) (%) (g/t)
EG-L-08-002 156.0 - 466.0 310.0 0.14 0.08
EG-L-09-005 0 - 134.0 134.0 0.13 0.12
EG-L-09-006 11.2 - 130.0 118.8 0.20 0.20
EG-L-09-007 6.0 - 152.0 146.0 0.13 0.16
Follow-up drilling is planned to define the full extent of near-surface
mineralization, better characterize structural controls and test other parts
of the system for higher-grade mineralization.
Lindsay Bottomer, P.Geo., who is a qualified person as defined by NI
43-101, has reviewed the technical information contained in this news release.
ABOUT ENTREE GOLD INC.
Entrée Gold Inc. is a Canadian mineral exploration company focused on the
worldwide exploration and development of gold and copper prospects. In North
America, the Company is exploring for porphyry-related copper systems in the
southwest USA under agreements with Empirical Discovery LLC.
The Company is a large landholder in Mongolia, where it holds three
exploration licenses comprising the 179,590 hectare Lookout Hill property.
Lookout Hill completely surrounds the 8,500-hectare Oyu Tolgoi project of
Ivanhoe Mines, and hosts the Hugo North Extension of the Hugo Dummett
copper-gold deposit and the more recently discovered Heruga
The Company continues to explore its large landholdings in Mongolia,
including the coal discovery Nomkhon Bohr. Entrée is also evaluating new
opportunities throughout the region and elsewhere in Asia. Entrée is exploring
the Huaixi copper project in Zhejiang Province in China, under the terms of an
agreement with the No. 11 Geological Brigade.
The Company is also seeking additional opportunities to utilize its
expertise in exploring for deep and/or concealed ore deposits. With a treasury
in excess of C$50 million, the Company is well funded for future activities.
Ivanhoe Mines and Rio Tinto are major shareholders of Entrée, holding
approximately 15% and 16% of issued and outstanding shares respectively.
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
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.
For further information:
For further information: Monica Hamm, Manager Investor Relations, Entrée
Gold Inc., Tel: (604) 687-4777, Toll Free: (866) 368-7330, E-mail:
firstname.lastname@example.org; Peter Oates, Investor Relations, Entrée Gold Inc., Tel:
(604) 687-4777, Toll Free: (866) 368-7330, E-mail: email@example.com