Entree Gold Inc. has commenced drilling on the western target at the Lordsburg, New Mexico copper-gold porphyry project. The Lordsburg project is located within a southeast-trending belt which hosts several large current and past copper producers, including Freeport McMoran’s Morenci, Tyrone, Chino and Safford operations.
The budgeted drill program is planned to include 2,700 metres (8,850 feet) of diamond drilling, testing several blind geophysical targets in favourable geological settings. The Lordsburg claims cover 3,885 ha (9,600 acres) adjacent to the historic Lordsburg copper-gold-silver district. From 1880 through to 1975, the district produced approximately 3.96 million tonnes averaging 2.25% Cu, 52 g/t Ag (1.51 oz/ton), and 1.90 g/t Au (0.055 oz/ton) with minor lead and zinc. Production was mainly from high grade easterly and northeasterly trending veins.
Robert Cann, P.Geo., Entree’s Vice-President, Exploration, a qualified person as defined by NI 43-101, supervised the preparation of the technical information in this news release.
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. Most notably, the Company is a large landholder in Mongolia, where it holds three exploration licenses that comprise the 179,590-hectare Lookout Hill property. Lookout Hill completely surrounds the 8,500-hectare Oyu Tolgoi project of Ivanhoe Mines, and hosts the Hugo North Extension of the Hugo Dummett deposit and the newly discovered Heruga deposit.
The Company continues to explore its large landholdings in Mongolia as well, including the coal discovery Nomkhon Bohr. Entree is also evaluating new opportunities throughout the region and elsewhere in Asia. Entree plans to explore the Huaixi copper project in Zhejiang Province in China, under the terms of an agreement with the No. 11 Geological Brigade. In North America, the Company is exploring for copper-molybdenum porphyry systems in the southwest USA.
The Company is also seeking additional opportunities to utilize its expertise in exploring for deep and/or concealed ore deposits. With a treasury in excess of $60 million, the Company is well funded for future activities.
Ivanhoe Mines and Rio Tinto are major shareholders of Entree, holding approximately 15% and 16% of issued and outstanding shares respectively.