Nov 24 2010
Entrée Gold Inc. (TSX:ETG; NYSE AMEX: EGI; Frankfurt:EKA) has received assay results from recent drilling programs on the Blackjack and Roulette properties in the Yerington district of Nevada.
The results confirm the presence of additional areas of copper mineralization on both properties and provide strong encouragement for additional exploration.
On Blackjack, several holes in the southeast intersected oxide copper mineralization which appears to be a continuation of the Blue Hill copper zone being drilled on the adjacent Ann Mason property (NR dated November 17, 2010). In the northeast, hole EG-B-10-001 encountered a new zone of copper mineralization at the eastern end of a 5 kilometre-long induced polarization ("IP") anomaly.
The current program has also resulted in the discovery of a new concealed mineralized porphyry copper system on the Roulette property (news release dated September 23, 2010). This discovery validates Entrée's exploration strategy of exploring for concealed deposits in the Yerington camp and provides support for additional exploration of the new Roulette target.
Blackjack
The Blackjack property, which is subject to an option agreement with Honey Badger Exploration Inc. (TSX.V:TUF - "HoneyBadger"), is contiguous with and lies to the north of Roulette and west of Ann Mason. Seven diamond drill holes totalling 2,820 metres have been completed and full assays received. These holes tested specific geophysical anomalies, as well as anomalous copper geochemistry interpreted to represent the continuation of the Blue Hill copper zone across the property boundary from Ann Mason.
Five of the holes were sited on the possible westward extension of the Blue Hill zone of mineralization; the upper portions of all five holes are strongly oxidized and iron-rich, with occasional oxide copper minerals noted. The most significant copper occurs as sulphide mineralization in drill hole EG-B-10-004, which is located more than 900 metres northwest of the oxide and sulphide copper mineralization drilled on the adjacent Ann Mason property.
Narrow intervals of copper mineralization in EG-B-10-001, located at the northeast corner of the Blackjack property, occur as coarse chalcopyrite in silicified breccias. Hole EG-B-10-001 also confirmed the presence of sulphide (predominately pyrite) mineralization in granodiorite intruded by quartz monzonite porphyry dykes at the eastern limit of a 5 kilometre-long, east-west trending induced polarization ("IP") anomaly. The IP anomaly is interpreted to be separate from the Ann Mason/Blue Hill porphyry mineralization and may represent a westward extension of the MacArthur and Gallagher zones of mineralization currently being explored by Quaterra Resources Inc. (TSX.V:QTA; NYSE AMEX: QMM - "Quaterra"). The Gallagher area is located immediately east of the property boundary, and Quaterra recently announced the intersection of porphyry-style copper mineralization grading 0.74% Cu over 76 feet (23 metres) in hole QM-46 from this newly-discovered zone.
Roulette
On the Roulette property, which is subject to an option agreement with Bronco Creek Exploration Inc. (a wholly-owned subsidiary of Eurasian Minerals Inc. - TSX.V:EMX - collectively "Bronco Creek"), two wide-spaced holes were drilled to test a broad target under approximately 350 to 500 metres of barren cover rocks. The holes were sited based on an updated geological and structural interpretation of the Yerington district, the presence of strong aeromagnetic high and anomalous results from a deep penetrating geochemical survey. Hole EG-R-10-003 intersected 20.7 metres averaging 0.14% Cu from a depth of 497.3 metres. Mineralization occurs as chalcopyrite-pyrite in strongly altered granodiorite cut by quartz-K-feldspar and quartz-chlorite veins. This discovery represents a new porphyry system - located near the southwest margin of the Yerington batholith. Disseminated magnetite, associated with K-feldspar alteration is interpreted to be the cause of the strong magnetic anomaly initially targeted for drilling. Mineralization is truncated by the Blue Hill fault, where there is a possibility of finding additional mineralization in the hanging wall of the fault, possibly to the east or southeast of EG- R-10-003.
A second drill hole (EG-R-10-004) failed to penetrate to the target depth due to strong faulting. Total metreage to date is 1,055 metres.
Exploration programs and related budgets for 2011 are currently being reviewed and will be announced once approved by the Company's board of directors.
QUALITY ASSURANCE AND CONTROL
Split core samples were prepared and analyzed at ALS Minerals in Reno, Nevada and Vancouver, BC. Prepared standards, blanks and duplicates are inserted at the project site to monitor the quality control of the assay data. Drill intersections described in this news release are based on core lengths and may not reflect the true width of mineralization.
QUALIFIED PERSON
Robert Cann, P.Geo., Entrée's Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"), has reviewed the technical information contained in this release.
Source: Entrée Gold Inc.