November 23, 2009
News Release
ZEUS IP Survey Outlines Additional Potential at
Entr�e�s Heruga Deposit, Mongolia
Vancouver, B.C., November 23, 2009
- Entr�e Gold Inc. (TSX:ETG; NYSE Amex:EGI; Frankfurt:EKA �
�Entr�e� 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.
�Entr�e�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, Entr�e�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 Entr�e�s Javhlant mining licence and the Hugo North
Extension resource area on Entr�e�s Shivee Tolgoi mining licence. The Hugo
North Extension and Heruga deposits were discovered while Ivanhoe Mines� was
conducting exploration work on Entr�e�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 Entr�e�s Heruga Deposit
indicates the IP signature extends to depth, well below the deepest
mineralized drill intercepts at 1,300 m (see map on 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 Entr�e�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 Entr�e-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 Entr�e�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., Entr�e�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 ENTR�E GOLD INC.
Entr�e 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. Entr�e is also evaluating new opportunities throughout the
region and elsewhere in Asia. Entr�e 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 Entr�e, holding approximately 15% and 16% of
issued and outstanding shares respectively.
FURTHER INFORMATION
Monica Hamm
Manager, Investor Relations
Entr�e Gold Inc.
Tel: 604-687-4777
Toll Free: 866-368-7330
E-mail: mhamm@entreegold.com
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Peter Oates
Corporate Communications
Entr�e Gold Inc.
Tel: 604-687-4777
Toll Free: 866-368-7330
E-mail: poates@entreegold.com
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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.
Investor
Relations Contact:
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Entr�e Gold
Inc.
1201 - 1166 Alberni Street
Vancouver, BC
Canada V6E 3Z3
Telephone: (604) 687-4777
Facsimile: (604) 687-4770
Toll-free: 866-368-7330
info@entreegold.com
mobile.entreegold.com
(TSX: ETG)
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