Entree Gold Expands Lordsburg Copper-Gold System
April 30 2009 - 7:30AM
PR Newswire (US)
VANCOUVER, April 30 /PRNewswire-FirstCall/ -- Entree Gold Inc.
(TSX:ETG; NYSE Amex:EGI; Frankfurt:EKA - "Entree" 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
feet). 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 # (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. Entree 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 copper-gold-molybdenum deposit. The Company
continues to explore its large landholdings in Mongolia, including
the coal discovery Nomkhon Bohr. Entree is also evaluating new
opportunities throughout the region and elsewhere in Asia. Entree
is exploring the Huaixi copper project in Zhejiang Province in
China, under the terms of an agreement with the # 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 Entree, 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 statements. 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
http://www.sedar.com/, and with the United States Securities and
Exchange Commission, which can be viewed at http://www.sec.gov/.
DATASOURCE: Entree Gold Inc. CONTACT: Monica Hamm, Manager Investor
Relations, Entree Gold Inc., Tel: (604) 687-4777, Toll Free: (866)
368-7330, E-mail: ; Peter Oates, Investor Relations, Entree Gold
Inc., Tel: (604) 687-4777, Toll Free: (866) 368-7330, E-mail:
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