ENTRÉE RESOURCES ANNOUNCES PARTIAL DRILL RESULTS FOR HUGO NORTH EXTENSION AND PROVIDES UPDATE ON UNDERGROUND DEVELOPMENT WORK

VANCOUVER, BC, Feb. 28, 2024

HIGHLIGHTS

• DDH UGD583A: 274 metres ("m") grading 2.79% copper equivalent* ("CuEq").
• DDH UGD586: 300 m grading 3.46% CuEq including, 144 m grading 4.12% CuEq.
• 22 underground holes and 4 surface holes drilled during 2022 targeting Lift 1 and/or Lift 2, with most holes still pending analytical results.

*Copper equivalent is defined in Table 1, where full details on the drill hole assay intervals are also found.

Stephen Scott, Entrée's President and CEO said, "We are very pleased with these drill results from HNE, which are the first holes drilled into the HNE deposit since 2011. While the majority of the 2022 drill holes were designed to provide structural and geotechnical information to support the Lift 1 Panel 1 technical studies incorporated into the 2023 Oyu Tolgoi Feasibility Study as well as development by OTLLC, they also demonstrate the remarkable continuity of the significant copper and gold grades at HNE.  The drilling program increases the drill hole density at HNE and these holes will be incorporated into the next updated resource estimate. I am also very excited that we are approaching the important milestone of first physical development activity on the Entrée/Oyu Tolgoi JV Property. While the work planned to be completed in 2024 is entirely on support infrastructure outside of the orebody footprint, and it is still going to be some time before first concentrate production, it will certainly be a historical moment for the Company."

2022 DRILLING PROGRAM
The initial batches of underground diamond drill results have been received from the 2022 drilling program at the HNE deposit, with analytical results available for 6 of the 26 drill holes.  It is the Company's understanding that OTLLC's primary objectives for the 2022 drilling was for structural and geotechnical studies, prior to initiating the core sampling and assaying process and that all core has been cut and submitted to the laboratory for analysis.  The significant mineralized intervals received to date from the 2022 drilling are summarized in Table 1 and shown on Figure 1. 

Table 1: Drill Results from 2022 Drilling at HNE Deposit¹

Drill Hole ARIVA.DE Börsen-Geflüster Kurse Eaton Vance Tax-Advantaged 18,60 $ 0,00% Entree Resources Ltd 1,15 $ 0,00%	From (m)	To (m)	Length2 (m)	Au (ppm)	Cu (%)	Ag (ppm)	CuEq3 (%)
UGD582A	139	396	257	0.02	0.58	1.40	0.60
UGD583A	184	458	274	0.73	2.36	5.33	2.79
UGD584A	176	375	199	0.03	0.62	1.99	0.65
UGD586	122	300	178	0.96	2.90	6.20	3.46
including	144	288	144	1.07	3.50	7.21	4.12
UGD5904	no significant results
UGD6144	no significant results

Drill holes UGD582A and UGD584A were both geotechnical holes, drilled towards the northeast, parallel to the eastern boundary of the HNE mineralized footprint and crossed an interbedded sequence of ignimbrite and augite basalt with varying amounts of advanced argillic and phyllic alteration. Mineralization consists of about 3% sulphides, comprised of a mix of pyrite and chalcopyrite.

Drill holes UGD583A and UGD586 were both drilled towards the north-northwest and crossed the majority of the mineralized footprint of HNE within proposed Lift 2.  Each hole intersected predominantly phyllic altered quartz monzodiorite, cut by occasional intervals of unmineralized biotite-granodiorite dikes (ranging from <1 m to 9 m in drilled width).  Mineralization averages approximately 5% sulphide content, comprised mostly of chalcopyrite, along with lesser amounts of pyrite and occasional intervals with covellite and minor molybdenite. 

Drill holes UGD590 and UGD614 were drilled towards the north and northwest, respectively and both crossed the Hugo North mineralized footprint on the Oyu Tolgoi mining licence before crossing onto the Entrée/Oyu Tolgoi JV ground in unmineralized footwall (northwest side) lithologies comprised mainly of various andesitic tuff and hornblende-biotite granodiorite intrusive units. 

2022 DRILLING INFORMATION
Underground and surface drilling at HNE was carried out from November 22, 2021 to January 8, 2023, during which time 4 surface holes totalling 3,900.7 m and 22 underground holes totalling 4,459.9m were drilled. 

The underground holes were all collared from existing infrastructure on the Oyu Tolgoi mining licence and crossed onto the Entrée/OTLLC JV Property.  Several of the holes were drilled as "daughter holes" (wedges) from a "parent hole" at varying distances along the hole.  Underground holes were primarily drilled for geotechnical purposes and many targeted the base of Lift 1, or in the areas northeast and southwest of the current mineralized footprint, where key infrastructure for the development of the Lift 1 block cave will be excavated starting in 2024.  Several of the holes also crossed the mineralized footprint of Lift 1.  Additional underground holes were drilled deeper, targeting the current mineralized footprint of Lift 2, and for geotechnical purposes.

The four surface holes were all collared near the north end of HNE and drilled steeply towards the northwest, targeting Lift 2.  Only two of the surface holes successfully reached their target depth of 1,750 m and 1,800 m, respectively, while two holes were aborted at shallow depths and were not assayed.  Analytical results from the two surface holes are still pending.

Drill hole sample lengths generally averaged 2.0 m. Table 2 summarizes the drill hole details and Figure 1 shows the locations of the 2022 HNE drill holes and assay intervals discussed in this press release.

Table 2: Drill Hole Summary

Drill Hole	UTM EAST	UTM NORTH	Elevation (m)	Length (m)	Azimuth	Dip	Assay Status
Surface Holes
EGD160	652658.7	4768421	1182	280.1	293	-74	Pending
EGD161	652757	4768433	1156	1,750.0	287 Werbung Mehr Nachrichten zur Eaton Vance Tax-Advantaged Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 21.05.24 - PR Newswire Weiss Korea Opportunity Fund - Amendment: Dividend announcement 21.05.24 - PR Newswire Augmentum Fintech Plc - Irrevocable Share Repurchase Programme Die Wachstumsgeschichte    Analysten sehen kurzfristige +37 %-Chance bei diesem europäischen Marktführer weiterlesen» Anzeige wo-site-teaser-box-17020_site-teaser-box_2024-05-21_07%253A00%253A00_2024-05-22_09%253A00%253A59