ZEUS IP Survey Outlines Additional Potential at Entrée's Heruga Deposit, Mongolia
November 23 2009 - 8:00AM
PR Newswire (US)
VANCOUVER, November 23 /PRNewswire-FirstCall/ -- Entree Gold Inc.
(TSX:ETG; NYSE Amex:EGI; Frankfurt:EKA - "Entree" or the "Company")
announces that it has received ZEUS induced polarization (IP)
survey results which cover the Company's Heruga deposit along with
preliminary results from surveys over the Hugo North Extension
deposit. The survey was designed to further test the full extent of
the chain of deposits associated with the Oyu Tolgoi mineralized
trend, which currently continues along strike for over 12
kilometres. "Entree's Lookout Hill property hosts the northern and
southern extensions of the 12 kilometre Oyu Tolgoi mineralized
system. Oyu Tolgoi has evolved into one of the premier copper-gold
porphyry camps in the world and the results of this survey support
our contention that significant potential exists to expand the
known resources within the district, including Lookout Hill,"
stated Greg Crowe, Entree's President and CEO. ZEUS is a
proprietary induced polarization (IP) and resistivity technique
licensed in Mongolia by GoviEx Gold Inc. and represents the next
generation of IP technology. This new technology enables
identification of targets to depths of up to 3,500 metres. ZEUS was
recently used to survey over the Heruga resource area on Entree's
Javhlant mining licence and the Hugo North Extension resource area
on Entree's Shivee Tolgoi mining licence. The Hugo North Extension
and Heruga deposits were discovered while Ivanhoe Mines' was
conducting exploration work on Entree's Lookout Hill property
during the earn-in phase, prior to the formation of a joint venture
between the two companies in 2008. A vertical cross section of the
data through Entree's Heruga Deposit indicates the IP signature
extends to depth, well below the deepest mineralized drill
intercepts at 1,300 m (see map on http://www.entreegold.com/).
Earlier IP surveys in this area further suggest the Heruga
mineralized trend may be offset to the west, but continues as a
chargeability high for 4 kilometres further south on Entree's
Javhlant licence. This highly prospective area remains to be drill
tested. The survey also tested the Hugo North and Hugo North
Extension deposits. The data clearly indicates additional potential
to depth and along strike to the north. In contrast to the close
spatial association with IP anomalies seen at the Central, Southern
Oyu and Heruga deposits, the high grade Hugo North and Hugo North
Extension deposits occur along the eastern flank of the ZEUS IP
anomaly. The Hugo North Extension resource area, which hosts the
richest mineralization defined along the Oyu Tolgoi mineralized
trend to date, extends for 625 metres north of the Entree-Ivanhoe
Mines joint venture boundary. A drill hole located approximately
1,300 metres north of the property boundary (drill hole EGD081B)
intersected Hugo North style mineralization at a vertical depth of
approximately 1,200 metres, suggesting that the mineralization
continues to the north, well past the current limit of defined
resources and extent of detailed drilling. There is an additional 8
kilometres of highly prospective ground along strike to the north
of Hugo North Extension that has received minimal drill testing.
The ZEUS system appears to be effective in outlining new areas of
exploration potential, especially to significantly greater depths
than previously possible. It is a useful tool to apply in areas
where traditional geophysical methods (conventional IP and
magnetometer) have defined shallower targets. Future targets could
include the southwestern continuation of the Heruga deposit, where
the deposit is nearer surface, and the projected continuation of
the Oyu Tolgoi trend to the north of Entree's Hugo North Extension
deposit. Further information can be reviewed by visiting
http://www.ivanhoemines.com/i/pdf/ZEUS_at_Oyu_Tolgoi.pdf Qualified
Person Robert Cann, P.Geo., Entree's Vice-President, Exploration, a
qualified person as defined by National Instrument 43-101 ("NI
43-101"), supervised the preparation of the information in this
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. The Company flagship
property is in Mongolia, where it holds two mining licences and one
exploration licence 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 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 No. 11 Geological Brigade. In North
America, the Company is exploring for porphyry-related copper
systems in Arizona and New Mexico under agreements with Empirical
Discovery LLC, in Nevada through option agreements with HoneyBadger
Exploration Inc. and Bronco Creek Exploration Inc. and in British
Columbia through an agreement with Taiga Consultants Ltd. 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$40 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. Such statements
include those relating to future drilling programs and expansion of
resources. 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/. For further information: Monica Hamm, Manager,
Investor Relations, Entree Gold Inc., Tel:+1-(604)-687-4777, Toll
Free:+1-866-368-7330, E-mail: Peter Oates, Corporate
Communications, Entree Gold Inc., Tel:+1-(604)-687-4777, Toll Free:
+1-866-368-7330, E-mail: (ETG. EGI) DATASOURCE: Entree Gold Inc.
CONTACT: For further information: Monica Hamm, Manager, Investor
Relations, Entree Gold Inc., Tel:+1-(604)-687-4777, Toll
Free:+1-866-368-7330, E-mail: ; Peter Oates, Corporate
Communications, Entree Gold, Inc., Tel:+1-(604)-687-4777, Toll
Free: +1-866-368-7330, E-mail: (ETG. EGI)
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