Entrée Gold remarks on the latest news of Ivanhoe Mines, which has announced the occurrence of a new shallow copper-molybdenum-gold mineralization zone just north of Entrée – Oyu Tolgoi joint venture ground in Mongolia.
Ivanhoe Mines has announced the existence of new mineralization zone on March 14, 2011. Ulaan Khud North is the new discovery that extends the Oyu Tolgoi mineralized area by additional three kilometers. The region contains the Entrée-OTLLC joint venture’s Heruga deposit, Hugo North Extension deposit and Ulaan Khud zone.
The discovered mineralization is not on Entrée - OTLLC joint venture, and is sited just three kilometers north of Ulaan Khud zone. The Oyu Tolgoi mineralized system is present as a minimum of twenty-three kilometers,in which seventeen kilometers are situated in the Entrée-OTLLC joint venture. Drill-testing has been conducted on less than half of mineralized area. The Ulaan Khud North is an excellent discovery for potential mineralized zones.
Ulaan Khud North is the near-surface copper and gold mineralized zone found within the Entree-OTLLC joint venture land. Initially, Ulaan Khud zone was identified in 2006 during condemnation drilling conducted as part of an Earn-In Agreement, under which the joint venture was formed. The significant intersections of drilling include 0.35% Copper and 0.11 g/t gold over 130m in Hole EGD118 and 0.34% Copper and 0.08 g/t gold over 154m in Hole EGD110.