the discovery expands
Mr. Gregory Crowe reports
ENTREE GOLD INC.: TWO NEW COPPER-GOLD SHOWINGS DISCOVERED ON ENTREE'S SHIVEE TOLGOI PROPERTY, MONGOLIA
Entree Gold has discovered two new gold-copper showings on its Shivee Tolgoi property in Mongolia. The Shivee Tolgoi property consists of approximately 179,000 hectares, which is adjacent to and completely surrounds Ivanhoe Mines Ltd.'s approximately 8,500-hectare Oyu Tolgoi (Turquoise Hill) property.
The more significant of the two new showings is located in the western part of Entree's Copper Flats area, where Entree is exploring for continuations to Ivanhoe's Far North zone copper-gold system. Ivanhoe is currently drilling the Turquoise Hill porphyry copper-gold system and is reportedly concentrating up to 13 drills along the extension of its high-grade Far North zone. Drilling is now within 500 metres of Entree's Shivee Tolgoi property boundary. Geophysics and geochemistry clearly illustrate the continuation of the structures, which are host to the Far North zone mineralization, for over two kilometres onto Entree's property.
The western Copper Flats gold-copper showing comprises veining of sugary quartz containing locally abundant iron-oxides in a fractured,
propylitically altered intrusive. Analytical results show a strong
correlation between gold-copper-arsenic-molybdenum. The better gold values are contained in the quartz veins, while the copper values are more widespread. Four samples collected from this showing returned values in excess of one gram per tonne (g/t) gold, with highs of 2.64, 2.96 and 3.72 g/t gold. Four samples also returned copper values in excess of 0.10 per cent copper with a high of 0.165 per cent copper. This area of mineralization is associated with a magnetic high and an induced,polarization (IP) chargeability anomaly. Work in this area to date is limited and further investigations, to include geophysics, geochemistry and trenching, are planned to better determine the true extent of this system.
This new western Copper Flats gold-copper showing occurs 1.5 to two
kilometres west of the projected northern continuation of the Far North zone. In Stockwatch on July 21, 2003, a new copper zone intersected at a depth of only 68 metres was described along the western flank of the Far North zone. This area lies approximately one to 1.5 kilometres southwest of the Far North zone of mineralization. Ivanhoe reported assays from this zone of 0.45 g/t gold and 0.5 per cent copper over 56 metres, and emphasized that this sparsely drilled area has "potential for undiscovered, near-surface and deep high-grade copper and gold mineralization." This newly discovered zone
may represent a second northerly trending linear zone of ineralization
parallel to and to the west of the Far North zone itself. It appears that both of these mineralized systems may continue northward for over two kilometres onto Entree's ground, as evidenced by geophysics, soil geochemistry and mineralized surface exposures.
The second new copper discovery (Bayan Ovoo) is located in the southwestern portion of the Shivee Tolgoi property. Sampling was completed in an area of old trenches covering a 2,500-square-metre area. Four samples returned copper values in excess of 0.3 per cent copper with two samples yielding 2.01 and 2.18 per cent copper. The highest copper grades are associated with elevated gold and silver values.
Reconnaissance mapping and sampling has just begun on the remainder of the 179,000-hectare Shivee Tolgoi property. The potential is excellent for the discovery of additional zones of mineralization, as evidenced by the two new showings described above.
Robert Cann, PGeo, Entree's exploration manager, is a qualified person as defined by National Instrument 43-101. Mr. Cann supervises the continuing exploration at Shivee Tolgoi and the preparation of technical information in the company's news releases. All rock samples were prepared and analyzed by SGS Analabs of Ulaan Baatar, Mongolia.
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