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Thursday, 29th March 2007 (3210 views)

Entree Gold as announced that the resource estimate update concerning its Hugo North deposit northern extension has resulted in an increased total.

The property in Mongolia has seen its resources swell to 117 million tonnes that comprises 0.61 grams of gold per tonne as well as copper of 1.8 per cent.

"Extremely significant" was how the company's president and chief executive officer, Greg Crowe described the upgraded mineral resource at the Hugo North deposit for the reason that it moves Entree Gold towards reaching its target of determining the economic viability of the site.

Mr Crowe went on to state: "The rich Hugo North Extension on Entree's land and the adjoining Hugo North Deposit on Ivanhoe's ground to the south are only part of a much larger regional mineralised system."

Furthermore, he added that previously untested areas that hold the possibility of hosting mineralisation can be found in Entree's grounds.

Indicated resources at the project now stand at a forecasted 2.3 million ounces of gold in addition to 4.6 billion pounds of copper.

 

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