- Published: Tuesday, 18 May 2010 09:02
- Written by ASIA Miner News
An updated inferred mineral resource estimate for the Entrée Gold and Ivanhoe Mines’ Heruga deposit in southern Mongolia shows the joint venture property now contains 910 million tonnes grading 0.48% copper, 0.49 grams/tonne gold and 141 ppm molybdenum.
The estimate, which was received from joint venture partner and project operator Oyu Tolgoi LLC, has been incorporated into an independent NI 43-101 compliant technical report.
This estimate represents a 20% increase in tonnage and a 15% increase in contained copper equivalent pounds of copper at a 0.6% copper equivalent cut-off over the March 2008 resource estimate. Based on these new figures, the Heruga deposit could contain 9.5 billion pounds of copper and 14 million ounces of gold.
Entrée’s president and CEO Greg Crowe says, “The increased inferred mineral resource estimate clearly demonstrates the potential of this growing deposit.
“Heruga hosts some of the highest gold-copper ratios within the Oyu Tolgoi mineralized trend, along with considerable molybdenum content. The deposit has been traced northwards where it remains open and appears to deepen.
“Most importantly for Entrée, geological and geophysical data suggests a possible offset to the Heruga deposit south of the currently drilled resource. Along this trend, there is an additional 4km of highly prospective untested ground on the Javhlant licence.”
The Heruga deposit is within Entrée’s Javhlant mining licence immediately south of the Oyu Tolgoi copper and gold deposit and within the Entrée-Ivanhoe Joint Venture Property. Forty-three drill holes totaling more than 58,000 metres have been used in the resource estimate. Three of the 43 holes were drilled on the Oyu Tolgoi licence immediately north of the common border with Javhlant. These have confirmed the extension of Heruga mineralization northward to and across the joint venture property boundary.