Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Entrée Gold Inc. (TSX:ETG) has received assay results from three additional deep diamond drill holes on the Ann Mason deposit in the Yerington district of Nevada. Each hole returned long intercepts (584 m to 718 m) averaging 0.38% to 0.42% copper equivalent (“CuEq”). Higher grade intervals were also encountered. Hole locations and cross sections can be viewed at www.entreegold.com.
Entrée’s President & CEO, Greg Crowe, commented: “In this latest round of drilling, holes 002 and 003 have further extended the known limits of mineralization. This reinforces the Company’s belief that the size of the resource at Ann Mason could increase substantially. We are also seeing higher grade copper intersections, particularly in these holes on the western side of the deposit.
The results also highlight molybdenum, gold and silver in sufficient quantities to increase the overall copper equivalent grade by more than 10% over copper alone. Historic work on the project did not systematically test for these valuable metals. We plan to have an updated resource estimate for Ann Mason in 2012, after which we can consider how best to advance this substantive asset.”
To view the full press release click here
