Ivanhoe's structure confirmed on Entree Gold 273 VM 29-Jan-03 at 10:29:00 10:30
Symbol: ETG U/ETEEF
29Jan03 Market News Publishing Inc. 2003/01/29 No:0003
ENTREE GOLD INC ("ETG-V")
- Trenching and IP Outline Extensive Gold Mineralization
- and IP Geophysics Confirms Continuity of Structures Hosting
- Porphyry Gold-Copper System at Oyu Tolgoi
NOT FOR DISSEMINATION IN THE UNITED STATES
Entree Gold Inc. - President Greg Crowe is pleased to report on
trenching and IP geophysical results over Entree's Zone III
epithermal gold system to the northwest of Oyu Tolgoi (Turquoise
Hill) and on the IP and magnetometer geophysical surveys
completed on Shivee Tolgoi along the northern extension of the
porphyry gold-copper system being explored by Ivanhoe Mines on
their Oyu Tolgoi property, Mongolia. Entree's 179,590 hectare
Shivee Tolgoi (Lookout Hill) Property is located immediately
adjacent to and completely surrounds Ivanhoe Mines' approximately
8,500 hectare Oyu Tolgoi Property.
Zone III hosts an epithermal gold system lying peripheral to the
porphyry related gold-copper mineralization centered around Oyu
Tolgoi. Entree previously reported select grab samples from this
zone with values to 29.2 g/t gold. An exploration program in
November and December, 2002 consisted of three lines of IP
geophysics (conducted by S.J. Geophysics of Vancouver) designed
to better define the northerly trending 1.6+ km long IP conductor
associated with this zone of mineralization. A strong 200m wide
chargeability anomaly was detected coincident with the
mineralized zone on all three lines covering a strike length of
300m.
All three trenches completed across the northerly trending Zone
III, each 25 metres apart, outlined two separate zones of
anomalous gold mineralization. The western zone is 60m in width
and hosts quartz veins and breccias within silicified and clay -
sericite altered felsic volcanics. Results included 5.18 g/t over
2.0m within a 7m interval averaging 1.64 g/t gold. Grab samples
collected 40m north along the trend of this zone yielded 18.4 g/t
gold, attesting to the presence of high grade values within the
veined system. Of greater importance is the mineralized interval
outlined at the eastern end of the trenches. This zone occurs
within a rhyolite breccia that disappears beneath a welded tuff
unit to the east. This 35+m wide mineralized interval, which is
completely open to the east beneath the welded tuff, yielded 1.38
g/t gold over 18m with individual zones returning 8.3 g/t over
2m.
The strong 200m wide IP chargeability anomaly in Zone III
coincides with the western mineralized zone and may reflect an
area of disseminated pyrite mineralization with auriferous quartz
veins and breccias. More importantly, this IP anomaly coincides
with the boundary of the near surface eastern zone of
mineralization that is open along strike and to the east.
Additional exploration will be required to outline these
extensive areas of gold mineralization.
Two lines of IP geophysics covering a strike extent of 800m were
also completed near the Entree - Ivanhoe property boundary, along
the projected northern continuation of the Ivanhoe porphyry
gold-copper system. Both lines identified two structures that
bound the northerly trending valley and may be important with
respect to localizing porphyry gold-copper mineralization within
a kilometre of Ivanhoe's Far North Zone. Additional geophysical
lines will need to be completed to outline potential mineralized
zones. The system will also have to be examined to depth.
Several reconnaissance exploration targets were also identified
in the recently completed exploration program.
A large area of alteration occurs within a circular, possibly
caldera-related, basin identified by satellite imagery to the
east of Oyu Tolgoi. Numerous quartz veins ranging from 0.25m to
over 5.0m in width are hosted by altered volcanics and north to
northeasterly trending shears. Sampling of these veins returned
values to 1.6 g/t gold, 157 ppm copper, 1035 ppm lead and 496 ppm
zinc. Previously reported sampling in this area returned values
to 2.6 g/t gold.
Malachite was noted in an area of andesitic volcanics to the west of
Oyu Tolgoi. Sampling returned values to 691 ppm copper. The
fact that copper mineralization was found in the limited time
spent in this area is very encouraging.
Management is extremely encouraged by the results of the recent
exploration programs. Results from soil sampling along the
northern and southern projected continuation of the Ivanhoe
porphyry gold-copper mineralized system are pending and will be
reported on upon receipt and interpretation.
Continued updates to Entree's exploration program and additional
information can be viewed by visiting the company's website at
www.entreegold.com.
TEL: (604) 341-5507 Entree Gold Inc.
Gregory G. Crowe, President
Internet: www.entreegold.com
______________________________________
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MNP:SD030129102932-000275
End of News
"Canaccord Capital Corporation " made the following
annotations on 01/29/2003 07:31:23 AM
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