Entree Discovers New High Grade Gold Zone at Shivee West, Mongolia
Entree Gold Inc. CA:ETG +5.98% EGI +0.98% (frankfurt:EKA) (“Entree” or the “Company”) has received final results from the recently completed work program on its 100%-owned Shivee West project in Mongolia. Work was conducted over the Zone III near-surface epithermal gold target and expanded north, where a new gold zone (“Argo Zone”) was discovered 250 metres beyond the previously known area of gold mineralization (see news release dated December 14, 2011). Significant results at the Argo Zone included two separate high-grade chip samples averaging 42.4 grams/tonne gold (“g/t Au”) over 4 metres and 19.3 g/t Au over 3 metres (see map on www.entreegold.com ).
Greg Crowe, President and CEO of Entree, commented, “This program yielded some very high grades in a new area of mineralization now called the Argo Zone. Both Zone III and Argo lie within a well-defined, northerly-trending magnetic-low, which extends for at least 2.5 kilometres along strike. Potential for additional gold targets is excellent and we are planning further exploration in 2012.”
The 2011 work program targeted near-surface epithermal gold mineralization and included 23 vertical holes (2,470 metres) of reverse circulation (“RC”) drilling, 1,120 linear metres of excavator trenching and surface sampling over an area of 200 metres x 600 metres. The area tested now appears to comprise two distinct zones of shallow gold mineralization (Zone III and Argo) hosted by quartz veined felsic volcanic rocks located approximately 300 metres apart.
The Argo Zone has been partly defined by six new RC holes (holes EGRC-11-110 to 115), two trenches and surface chip sampling. Hole EGRC-11-112 returned 14 metres of 1.82 g/t Au and hole 11-111 returned 3 metres of 2.21 g/t Au (see table of results below). The two very high-grade chip samples were taken to evaluate a quartz stockwork in dacitic volcanic rocks 50 metres southeast of the nearest 2011 RC drill hole. The mineralization remains open in several directions.
Trench sampling in 2011 on Zone III returned 0.69 g/t Au over 6 metres and a separate interval of 1.44 g/t Au over 6 metres. Previously, trench and outcrop sampling returned gold values of up to 0.51 g/t over 22 metres and 1.39 g/t over 18 metres. Numerous grab samples of siliceous material in the Zone III area have returned between 0.2 g/t and 29.2 g/t Au. Best results from recent RC drilling are from hole EGRC-11-123, located near the centre of Zone III, which returned 8 metres of 2.08 g/t Au.
Planning is underway for additional drilling and surface work commencing in Q2 2012 to better define gold mineralization in both Zone III and the Argo Zone.