Eldorado Gold Corporation - Sao Bento Drilling Status Report
Vancouver, British Columbia--
ELD No.99-19
Eldorado Gold Corporation (the "Company" or "Eldorado") (TSE,VSE:
"ELD") is pleased to release the results from the first 22
diamond drill holes of an ongoing 15,000 meter underground
exploration and development drill program at the Company's 100%
owned Sao Bento Gold Mine, Minas Gerais Province, Brazil.
The drill program was initiated in February 1999 and will be
completed in February 2000. The objective of the program is to
increase the indicated resources from the 25th to 27th levels and
to outline additional inferred resources between the 27th to 31st
levels. All drilling is from crosscuts on the 23rd level.
Drilling indicates that the ore body is becoming wider with depth
and concentrated in one horizon, the West Footwall ore zone.
Assaying was carried out by Sao Bento Gold Mine. The results are
shown in the following table and longitudinal section.
1999 Drill Results - Cumulative Grade Thickness
Drill Hole Intervals (m) Grade (g/t) Gram-meters
RD-001 1.88 18.69 35.14
RD-002 4.47 9.84 43.98
RD-003 4.85 10.61 51.46
RD-004 2.31 8.21 18.97
RD-005 4.13 9.13 37.71
RD-006 3.91 14.28 55.83
RD-007 4.75 7.05 33.49
RD-008 8.77 12.62 110.68
RD-009 4.81 17.04 81.96
RD-010 No Intercepts
RD-011 4.75 7.77 36.91
RD-012 1.58 12.91 20.40
RD-013 3.13 10.55 33.02
RD-014 5.38 14.46 77.79
RD-015 3.34 8.19 27.35
RD-016 5.19 9.29 48.22
RD-017 14.45 11.12 160.68
RD-018 1.32 11.08 14.63
RD-019 16.60 9.16 152.06
RD-020 6.91 13.59 93.91
RD-021 11.50 12.16 139.84
RD-022 10.28 12.47 128.19
Principal intercepts are from the West Footwall ore horizon and
have been added to intercepts from the West Hanging Wall and Sao
Bento ore horizons for cumulative grade thickness (gram-meter)
values. Drill intersections are in sulphidic ore zones within a
30-meter wide carbonate facies banded iron formation, dipping at
50 degrees.
Results to date below the 25th level indicate an average width of
5.6 meters for the mineralized horizons with grades averaging 11
g/t. Drill holes 8, 17 and 22 are among the highest-grade drill
intercepts in the history of the Sao Bento Mine. This information
supports the Company's goal of significantly adding to reserves
and expanding the mine's resource base.
Data generated from drill results obtained in 1999 will be
incorporated in the Company's annual reserve and resource
statement scheduled for completion in the first quarter of 2000.
The Sao Bento Gold Mine celebrated the pouring of 1,000,000
ounces of gold in July 1998 and results from the present drill
program continue to support the long-lived nature of this
operation.
Eldorado Gold Corporation is a Vancouver based gold mining
company that trades on the Toronto Stock Exchange. The Company
expects to produce 185,000 ounces of gold in 1999 from its mines
in Brazil and Mexico. Eldorado is committed to expansion through
ongoing development of its advanced stage projects, in particular
the Efemcukuru and Kisladag properties, in Turkey.
ON BEHALF OF ELDORADO GOLD CORPORATION
"Paul Wright"
Paul N. Wright
President and Chief Executive Officer
Graphic attachments are available at the Company's website or
upon request after 10:00 a.m. PST
Eldorado Gold Corporation's shares (Symbol: ELD) trade on the
Toronto Stock Exchange ("TSE") and the Vancouver Stock Exchange
("VSE").
Neither the TSE, nor the VSE have approved or disapproved the
form or content of this release.
Investor Relations Contacts:
Tel: (604) 687-4018 and 1-888-ELD-8166
Fax: (604) 687-4026
www.eldoradogold.com
Suite 920 - 1055 West Hastings Street,
Vancouver, British Columbia, Canada V6E 2E9
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