Ongoing drilling by Entre Gold (ETG-V) has confirmed the continuity of high-grade copper mineralization on the Copper Flats area of the Shivee Tolgoi property in Mongolia.
Hole 16C was collared between the border with Ivanhoe Mines‘ (IVN-T) neighbouring Oyu Tolgoi copper-gold project and hole no. 8, 450 metres to the north, that yielded 324 metres grading 2.45% copper and 1.2 grams gold earlier this summer (T.N.M. July 4-10/05).
At that time, hole no. 16C was reported to contain “visually strong” chalcopyrite- and bornite-rich copper mineralization. Assay results are highlighted by a 193.1-metre interval (beginning 1,324 metres below surface) averaging 3.06% copper and 1.08 grams gold. The hole was terminated while still in high-grade mineralization.
“The assays in hole 16C confirm the continuity of high grade mineralization from the Entre-Ivanhoe boundary northwards to hole 8, a strike distance of approximately 450 metres,” said Entre’s CEO Greg Crowe in a prepared statement.
Meanwhile hole no. 20, 450 metres north of hole 8, failed to reach its targeted depth owing to drilling difficulties.
Ivanhoe is funding the ongoing drilling as part of its agreement to earn up to an 80% interest in a 400-sq.-km portion of Entre’s 1,800-sq.-km Shivee Tolgoi project, which completely surrounds Oyu Tolgoi. To do so, Ivanhoe must spend at least US$35 million on exploration.
Ivanhoe has begun drilling a new hole (no. 53) some 150 metres north of hole no. 8 and 300 metres south of hole no. 20. The hole is designed to more conservatively test the continuation of the system while avoiding drill difficulties due to faulting.
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