Vancouver — Initial drill results from
The first round of shallow drilling on Lookout Hill tested the depth extent of previously observed surface showings, geophysical targets and large alteration zones.
The extensive Lookout Hill (or Shivee Tolgoi) property completely surrounds
A half-dozen drill holes on the Zone III area, about 5 km northeast of Oyu Tolgoi, tested a section of a 2-km-long induced-polarization (IP) chargeability anomaly, where surface trenching returned high-grades of gold.
Hole 2 intersected 4 metres (from 109 metres) grading 1.63 grams gold per tonne, including a couple of metre-long, high-grade sections of 3.29 and 2.49 grams gold per tonne.
Mineralization is hosted in gold-bearing quartz veins associated with steeply dipping, north-trending structures.
On the X-Grid zone, 3 km east of the Oyu Tolgoi property, drilling tested more quartz veins with associated geophysical and soil geochemical anomalies. The mineralized veins show an association with the north-northeasterly structure that prevails in the region.
X-Grid drill results include hole 13, which returned 3.5 metres (from 18 metres) grading 4.55 grams gold; included were higher-grade sections of 0.6 metre grading 8.06 grams and 0.7 metre grading 12.2 grams.
Drilling at Zone I, about 4 km north-northwest of Oyu Tolgoi, tested a large area of quartz-alunite alteration that has 3 km of surface exposure and is coincident with IP anomalies. Results returned intervals of low-grade copper mineralization over narrow widths and areas of extensive pyrite alteration (5-20% pyrite over 30 metres at the base of a hole drilled to 395 metres). Further testing of the zone is planned.
Entree’s drill results failed to impress shareholders and investors. The issue slid back below the 60-per-share level after exceeding $3 last autumn.
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