Entrée has been actively evaluating and seeking new opportunities in the United States for the past few years and has now assembled an attractive portfolio of early to advanced porphyry copper projects in Nevada, Arizona and New Mexico, and a uranium project in North Dakota.
The Company acquired and consolidated a large, underexplored and highly prospective land package in the historic Yerington district of Nevada. Through the acquisition of PacMag Metals Limited, expected to close June 30, 2010, Entrée will hold the rights to a group of mineral titles in the Yerington camp which include the copper-molybdenum Ann Mason deposit and other significant copper prospects such as Blue Hills (copper-molybdenum) and Shamrock (high-grade copper). The first National Instrument 43-101 compliant resource estimate for the Ann Mason deposit was released in January 2010 (see table below). Ann Mason is estimated to contain an inferred resource of 810.4 million metric tonnes grading 0.40% copper, using a 0.30% copper cut-off. Accompanying molybdenum is estimated at 165.9 million metric tonnes at a grade of 0.01% molybdenum. Based on these figures, the Ann Mason deposit contains approximately 7.1 billion pounds of copper.
Ann Mason Inferred Resource – January 2010
|
Cut-off |
Tonnage |
Cu |
|
Cu
% |
(million t) |
% |
|
>0.4 |
315.22 |
0.485 |
|
>0.3 |
810.39 |
0.399 |
|
>0.2 |
1409.96 |
0.336 |
Contiguous to the Ann Mason deposit, Entrée optioned the 4,250 hectare Blackjack property from Honey Badger Exploration Inc. and the 1,760 hectare Roulette property from Bronco Creek Exploration Inc. in 2009. The two contiguous projects are west of, and adjacent to, the Blue Hills prospect. Drill targets have been identified on both properties following geochemical, geological and geophysical work.
In Arizona and New Mexico, the Company has acquired exploration rights to over 14,365 hectares of land through two option agreements with Empirical Discovery LLC in 2007 and 2008. After initial exploration on six separate targets, three were subsequently drilled resulting in the discovery of porphyry copper-gold mineralization on the Lordsburg prospect in New Mexico. Significant copper and gold intervals were intersected including potentially economic grades of 0.25% copper and 0.15 g/t gold (0.35% copper equivalent) over 94 metres. This same interval hosts a higher grade zone of 60 metres averaging 0.31% copper and 0.21 g/t gold (0.44% copper equivalent). Other targets within the Empirical option land package are the Oak Grove target in New Mexico and the Abbot and Dixie targets in Arizona.
As a result of the PacMag acquisition, Entrée will also add to its US holdings: the Rainbow Canyon gold-copper prospect in Nevada, the Meadow Valley porphyry copper project in Arizona and the Sentinel uranium-germanium-molybdenum property in North Dakota.
