Entr�e Gold Reports on Mongolia
and China Projects
Vancouver, B.C., December 09, 2010 � Entr�e Gold (TSX:ETG; NYSE AMEX:EGI; Frankfurt:EKA
� �Entr�e� or the �Company�) has successfully tested a number of deep
conceptual targets on its 100%- owned Shivee West
property in Mongolia. The Shivee
West exploration program supports Entr�e Gold�s two-pronged strategy that
combines the strength of its joint venture in Mongolia with highly
prospective exploration projects worldwide. Shivee
West is adjacent to the Company�s flagship joint venture property that
surrounds the massive Oyu Tolgoi
project.
Shivee
West, Mongolia
The 2010 exploration
program on Shivee West was designed to evaluate and
gain a better understanding of deep induced polarization (�IP�) targets, with
the focus on finding mineralization at depths similar to those encountered
throughout the Oyu Tolgoi
mineralized system. Entr�e completed ten deep holes and one shallow
diamond drill hole to systematically test four
target areas within a complex geological environment for possible buried
porphyry copper-gold mineralization.
While the original
discovery at Oyu Tolgoi
is marked by a prominent surface showing, Shivee West contains no surface indications of
porphyry-style mineralization and thus the exploration team is relying on a
combination of advanced exploration tools to determine possible target
areas at depth. Preliminary exploration work consisted of 182 line-kilometres of deep penetrating IP geophysics, MMI soil
geochemical sampling, structural geological mapping, and relogging
and reinterpretation of drill core from previous years.
Diamond drilling
commenced in June and the crew demobilized from the field in November 2010.
Eleven holes were completed up to a depth of 1650 metres
for a total of 11,634 metres. Three holes
were completed on the Khoyor Mod target, five holes
on Zesen Khui, two holes
on Zone 1 and one hole on the Scorpion Zone (formerly Zone 2). The location
of the various target areas is shown on maps on the Company�s website www.entreegold.com. This is the first year that the program focused on drilling to
such depths due to the high cost and challenging nature of this type of
drilling.
A number of holes on Zesen Khui and Khoyor Mod encountered stratigraphy
interpreted to be equivalent to the ore-hosting Devonian-age units at Oyu Tolgoi. These results
are important as this is the first time rock units equivalent to the key ore
bearing horizons at Oyu Tolgoi
have been documented on Shivee West. Prior to
the discovery of economic grades at Oyu Tolgoi, BHP and Ivanhoe Mines drilled over 150 holes,
primarily focused around the exposed Devonian rocks near the Southwest Oyu deposit.
Extensive disseminated
and stringer pyrite mineralization with minor chalcopyrite is present in
several holes, but no economic intervals of copper or gold mineralization
were found. The Shivee West property remains
prospective and results of the 2010 program will be evaluated over the winter
prior to a decision on the nature and focus of a 2011 program.
Entr�e � Ivanhoe Mines Joint Venture
Surface work and drilling
continues on the Javhlant and Shivee
mining licences that are in joint venture with
Ivanhoe Mines, the project operator.
Two drills have been
operating to the north of Oyu Tolgoi.
One geotech hole was employed to target the lower
portions of the Hugo North Extension and Hugo North mineralized system for
geotechnical and structural studies. A second hole is currently testing
a 650 metre step-out to the north of the Hugo North
Extension Resource, in the vicinity of the 2005 hole EGD081B, which was
interpreted to have intersected the top of the mineralized system.
Testing to the north of the Hugo North Extension has been underway for the
past few months, but technical difficulties have delayed the program.
The current hole is underway and results will be reported once they have been
received.
Two core holes were
completed earlier in the year on Heruga Southwest,
located approximately 5 kilometres southwest of the
Heruga orebody, on the
Entr�e-Ivanhoe Mines joint venture property. One hole
intersected copper mineralization (EGD035A � 56 metres
grading 0.6% Cu) at a depth of approximately 1400 metres
in Devonian-aged volcanic. A second hole that was drilled to intersect
the mineralization up dip on the same section entered a younger
Carboniferous-aged intrusion. Proprietary deep-penetrating IP surveying
has been extended to cover this area. Future drilling may be proposed
on what is considered to be a highly prospective target that could extend the
Heruga mineralized system southwards towards
Entr�e�s southern Javhlant property boundary.
Huaixi,
China
Entr�e has been exploring
the Huaixi property in Zhejiang province of
southeastern China. A first round of core drilling (6 holes,
2,661 metres) was carried out in late 2009, and a
second program (6 holes, 1,508 metres) was
completed in November 2010. The conceptual target was a buried porphyry
copper system beneath widespread surface alteration. Target selection was
assisted by deep penetrating IP geophysical surveys and multi-element
geochemistry using techniques previously developed and applied in our
exploration work in Mongolia and the southwest USA. The drilling encountered
variable alteration and quartz stockwork with
pyrite and anomalous base metal values in several holes with a maximum copper
value of 0.17% over 2 metres in hole HX-10-12. The
results from past drill/exploration programs do not provide justification for
further work.
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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