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Friday, 30th March 2007 (3180 views)

Entree Gold Incorporated has announced its updated mineral resource estimate for its Mongolian property.

The Hugo North deposit is located in the Copper Flats area of the firm's Lookout Hill property in the country and it now hosts an estimated indicated resource of 117 million tonnes with 0.61 grams of gold per tonne being the average grade.

Greg Crowe, the president and chief executive officer of Entree Gold, said: "The upgrading of this resource is extremely significant to Entree as it completes the initial step towards outlining the economic viability of the Hugo North extension deposit."

He continued on to explain that the rich Hugo North extension on the firm's land is only part of a much larger regional mineralised system.

Most of highly prospective, untested area lies within Entree's projects surrounding Ivanhoe's Oyu Tolgoi property and the firm eagerly anticipates the continued exploration of this vast system.

The contained metal in the mine is now 2.3 million ounces of gold with the amount of copper thought to be around 4.6 billion pounds.

 

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