Entree Resources Ltd T.ETG

Alternate Symbol(s): ERLFF

Metals & Mining Industrial Metals & Minerals

Entree Resources Ltd. is a Canadian mining company. The Company is focused on the development and exploration of mineral property interests. The Company is principally focused on its Entree/Oyu Tolgoi JV Property in Mongolia. The Entree/Oyu Tolgoi joint venture property includes Lift 1 and Lift 2 of the Hugo North Extension copper-gold deposit, the Heruga copper-gold-molybdenum deposit, and a large underexplored, highly prospective land package. The Oyu Tolgoi project comprises two separate land holdings: the Entree/Oyu Tolgoi JV Property, which is a partnership between Entree and OTLLC, and the Oyu Tolgoi mining license, which is held by OTLLC. The Entree/Oyu Tolgoi JV Property comprises the eastern portion of the Shivee Tolgoi mining license and all the Javhlant mining license. The Company has a 56.53% interest in the Blue Rose Joint Venture. The Company has an interest in acquiring a 0.5% net smelter return royalty on the Canariaco copper project in Northern Peru.

TSX:ETG - Post by User

Entree Resources Ltd

Bullboard Posts

Post by waIlabe_shorton Aug 25, 2009 8:32am

320 Views

Post# 16246430

Agreement with HoneyBadger

Entrée Gold Finalizes Agreement with HoneyBadger Exploration

    VANCOUVER, Aug. 25 /CNW/ - Entrée Gold Inc. (TSX:ETG; NYSE Amex:EGI;
Frankfurt:EKA - "Entrée" or the "Company") announces that the Company has
completed due diligence and received regulatory approval for the option
agreement with HoneyBadger Exploration Inc. (TSX.V:TUF - "HoneyBadger")
previously announced on July 23, 2009.
Entrée and HoneyBadger intend to explore for and develop porphyry copper
targets in the Yerington porphyry copper district of western Nevada.
HoneyBadger has assembled a substantial land package covering over 12,500
acres (5,080 hectares), known as the Yerington West Project.
Greg Crowe, Entrée's President and CEO commented, "Considerable
exploration and mining has been done in the Yerington region since the early
part of the twentieth century. Between 1953 and 1978, Anaconda produced almost
2 billion pounds of copper from a single open pit. The area was generally
inactive in the 1980s and 1990s, but has seen renewed interest in the past few
years. Our agreement with HoneyBadger gives Entrée shareholders a foothold
into this highly prospective area."
Under the terms of the agreement, Entrée may acquire up to an 80%
interest in a portion of the Yerington West Project, known as the Blackjack
Property.
Entrée and HoneyBadger are planning an aggressive drill program
commencing in the fourth quarter 2009. This program is expected to test
numerous targets generated from a recently completed high-definition airborne
Geotech AirMt magnetotelluric survey along with geological and geochemical
targets.
This agreement with HoneyBadger is part of Entrée's strategy to explore
for large porphyry copper deposits, using the knowledge and experience gained
from working on our projects in Mongolia and North America. The Company's
current agreements with Empirical Discovery LLC have resulted in the discovery
of porphyry copper mineralization near Lordsburg, New Mexico, in a mining
district previously known only for vein-style copper-gold mineralization.