Entree commissioned Wardrop Engineering Inc. ("Wardrop") to prepare the NI 43-101 compliant Technical Report and Resource Estimate of the Ann Mason Copper Molybdenum Project ("2010 NI 43-101 Resource Estimate"), which is filed on SEDAR. This independent report was completed in order to fulfill Canadian regulatory requirements.
The Wardrop 2010 Inferred resource is confined by an optimized Whittle pit shell #25. Using the same pit shell, the 2010 Inferred resource estimate represents a 10.6% increase in tonnes from the 2006 model (724.7 million tonnes at 0.40% copper) with a negligible increase in grade at a 0.30% copper cut-off. The increase in tonnage is largely due to the inclusion of additional information generated by drilling after the 2006 calculation was made.
Table 1. Ann Mason Inferred Resource -
------------------------------------------------------ Cut-off Tonnage Cu ------------------------------------------------------ Cu % (million t) % ------------------------------------------------------ (greater than)0.4 315.22 0.485 ------------------------------------------------------ (greater than)0.3 810.39 0.399 ------------------------------------------------------ (greater than)0.2 1409.96 0.336 ------------------------------------------------------
Entree announced on
The grades at Ann Mason compare favourably with a number of current producers and development projects in western
In addition to the defined resource, significant copper oxide and deeper sulphide mineralization has been intersected at Blue Hills, approximately 5 km to the west of Ann Mason. The oxide copper target covers an area of 1.5 km by 350 m, and includes near-surface intercepts of 21.3 m of 0.46% copper, 36.3 m of 0.46% copper and 39.6 m of 0.26 % copper. The surface copper anomaly in soils appears to extend to the west onto adjoining ground held by HoneyBadger Exploration Inc. (TSX.V: TUF - "HoneyBadger"), which is under option to Entree.
At the Shamrock prospect, located 5 km to the southeast of Ann Mason, drilling by PacMag has confirmed the presence of high grade near surface copper mineralization (e.g. 33.6 m of 1.72 % copper) in altered limestone.
Work is also being planned for the contiguous Blackjack and Roulette properties under option agreements with HoneyBadger and Bronco Creek Exploration, Inc. (a wholly owned subsidiary of Eurasian Minerals, TSX.V:EMX). The properties adjoin the Ann Mason property to the west and south.
ABOUT ENTREE GOLD INC.
Entree Gold Inc. is a Canadian mineral exploration company focused on the worldwide exploration and development of gold and copper prospects. Entree's expertise is in exploring for deep and/or concealed ore deposits and with a treasury currently in excess of
Entree's flagship property is in
The Lookout Hill property is subject to a joint venture with Oyu Tolgoi LLC (OTLLC) whereby following expenditure of
The Hugo North Extension deposit hosts a NI 43-101 compliant Indicated resource of 117 million tonnes grading 1.8% copper and 0.61 g/t gold, estimated to contain 4.6 billion pounds of copper and 2.3 million ounces of gold and an Inferred resource of 95.5 million tonnes grading 1.15% copper and 0.31 g/t gold, estimated to contain 2.4 billion pounds copper and 950,000 ounces of gold. Entree retains a 20% carried interest in these resources.
The Heruga deposit contains an Inferred resource of 760 million tonnes grading 0.48% copper, 0.55 g/t gold and 142 ppm molybdenum, estimated to contain 8 billion pounds of copper and 13.4 million ounces of gold. Entree also retains a 20% carried interest in this resource.
Both resources were calculated using a 0.6 % copper equivalent cut-off. The copper equivalent grades were estimated using metal prices of
Entree continues to explore its large landholdings in
In
Qualified Person
Dr.
Competent Person Statement
The information in this Release that relates to PacMag Exploration Results, Mineral Resources or Ore Reserves, as those terms are defined in the 2004 Edition of the "Australasian Code for Reporting of exploration Results, Resources and Ore Reserves", is based on information compiled by Mr
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 the successful completion of the transaction and implementation of the Schemes of Arrangement. 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.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of
SOURCE Entrée Gold Inc.