Entr�e Gold Commences Drilling Dixie Target at Bisbee, Arizona
Vancouver,
B.C., December 16, 2010 � Entr�e Gold Inc. (TSX:ETG;
NYSE AMEX:EGI; Frankfurt:EKA � �has commenced a combined reverse circulation- core
drilling program at its Bisbee project in Arizona. The initial three hole, 2,400 metre program
(including 1,200 metres of reverse circulation
pre-collars) will test a discrete buried geophysical target whose signature
is similar to several known mineralized copper porphyry deposits in the
Southwest USA. The Dixie target is located 6 kilometres
north of the historic Lavender pit at Bisbee (refer to map on
www.entreegold.com).
The drill target is a well-defined
magnetic low/chargeability high geophysical feature measuring 3 kilometres x 2 kilometres
located along a prominent north-northeast structural trend extending from the
Bisbee copper-gold camp. Since the 1880s, Phelps Dodge mining company
(now Freeport McMoRan Copper & Gold, Inc. -
�Freeport McMoRan�), has produced more than 7
billion pounds of copper and 2 million ounces of gold in the Bisbee district
mainly from the Copper Queen underground mine, the Sacramento pit and later
the Lavender pit. The Lavender pit is located immediately south of
Freeport McMoRan�s Cochise deposit, which is
reported to contain 301 million tonnes of
mineralized material grading 0.44% copper.
Greg Crowe, Entr�e�s
President and CEO commented, �It�s exciting to be
drilling along strike from one of the defining porphyry copper deposits of
the last century. Little recent exploration has been done in the Bisbee
camp outside of the known deposit areas, such as the Lavender and Cochise
deposits of Freeport McMoRan. Entree has a
unique opportunity to test a highly prospective target in one of the best
known copper camps of North America with excellent infrastructure.�
Entr�e�s principal projects in
Arizona and New Mexico were generated under agreements with Empirical
Discovery LLC (�Empirical�), a private Denver-based group. Empirical has
developed proprietary processing and interpretive solutions to generate
targets from regional geophysical databases.
ABOUT
ENTR�E GOLD INC.
Entr�e Gold Inc. is a Canadian
mineral exploration company focused on the worldwide exploration and
development of copper and gold prospects. The Company�s flagship
Lookout Hill property in Mongolia completely surrounds the 8,500-hectare Oyu Tolgoi project of Ivanhoe
Mines. A portion of the Lookout Hill property is subject to a joint venture
with Ivanhoe Mines, through its subsidiary Oyu Tolgoi LLC. The joint venture property hosts the
Hugo North Extension copper-gold deposit and the Heruga
copper-gold-molybdenum deposit. Excellent exploration potential remains
on the joint venture property for the discovery of additional mineralized
zones.
In North America, the Company is
exploring for porphyry-related copper systems in Nevada, Arizona and New
Mexico. The primary asset is the Ann Mason property in Nevada, which
contains an inferred mineral resource and considerable potential for
additional targets.
The Company is also seeking
additional opportunities to utilize its expertise in exploring for deep
and/or concealed ore deposits. Rio Tinto and Ivanhoe Mines are major
shareholders of Entr�e, holding approximately 13% and 12% of issued and
outstanding shares, respectively.
FURTHER
INFORMATION
Monica Hamm - Manager, Investor
Relations
Entr�e Gold Inc.
Tel: 604-687-4777
Fax: 604-687-4770
Toll Free: 866-368-7330
E-mail: mhamm@entr�egold.com
This
news release contains forward-looking statements and forward-looking
information (together, �forward-looking statements�) within the meaning of applicable
securities laws and the United States Private Securities Litigation Reform
Act of 1995, with respect to exploration results and interpretation, future
work programs and the potential for the discovery of mineralization on the
Company�s properties. These forward-looking statements are made as of the
date of this news release. Users of forward-looking statements are
cautioned that actual results may vary from the forward-looking statements
contained herein. 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 the Company�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.
Such factors and assumptions include, among others, the effects of general
economic conditions, the prices of gold and copper, changing foreign exchange
rates and actions by government authorities, uncertainties associated with
legal proceedings and negotiations and misjudgments in the course of
preparing forward-looking statements. In addition, there are known and
unknown risk factors which could cause the Company�s actual results,
performance or achievements to differ materially from any future results,
performance or achievements expressed or implied by the forward-looking
statements. Known risk factors are described in the Company�s Amended
and Restated Annual Information Form for the financial year ended December
31, 2009, dated November 2, 2010 filed
with the Canadian Securities Administrators and available at www.sedar.com. Although the Company
has attempted to identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company is
under no obligation to update or alter any forward-looking statements except
as required under applicable securities laws.
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