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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (15048)	7/30/2003 10:52:16 AM
From: bmccra	Read Replies (3) \| Respond to of 39344

Hello, I’m a longtime lurker who has finally subscribed and hopefully can contribute something to the board. Is anyone familiar with Entrée Gold? ETG-TSX Venture. From their latest update: Entree's Shivee Tolgoi property covers approximately 180,000 hectares and hosts multiple targets. Shivee Tolgoi is immediately adjacent to and completely surrounds Ivanhoe Mines Ltd.'s Oyu Tolgoi (Turquoise Hill) property. At this time, the two principal targets are understood to be potential extensions to the mineralized porphyry copper-gold system currently being explored by Ivanhoe Mines Ltd. ("Ivanhoe") and a separate, epithermal gold zone ("Zone III"), with previously reported surface sample values to 29.2 g/t gold. Other targets include the "X Grid" area, with previously reported surface values to 2.9 g/t gold in quartz veins and shears cutting altered intrusives to the east of Oyu Tolgoi, and a large area of quartz - alunite altered intrusives and volcanics that form a lithocap potentially overlying or marginal to a separate mineralized porphyry system. Several additional reconnaissance targets hosting alteration and/or mineralization have been identified and will be evaluated. Mark Bailey of Minefinders is a director of Entrée. Drilling on Ivanhoe’s Far North Zone is now just 500m from the property boundary. Shares issued and outstanding: 19,330,500 Shares in Escrow: 2,730,000 Currently bidding 34 cents, asking 36 cents. I have been long since I saw the IVN presentation at this year’s PDAC, hoping this was a leveraged play on the same district. Started buying at 46 and have been adding down as low as 26 cents. Here is some other exploration info, this from a press release dated January 29, 2003: “Zone III hosts an epithermal gold system lying peripheral to the porphyry related gold-copper mineralization centered around Oyu Tolgoi. Entree previously reported select grab samples from this zone with values to 29.2 g/t gold. An exploration program in November and December, 2002 consisted of three lines of IP geophysics (conducted by S.J. Geophysics of Vancouver) designed to better define the northerly trending 1.6+ km long IP conductor associated with this zone of mineralization. A strong 200m wide chargeability anomaly was detected coincident with the mineralized zone on all three lines covering a strike length of 300m. All three trenches completed across the northerly trending Zone III, each 25 metres apart, outlined two separate zones of anomalous gold mineralization. The western zone is 60m in width and hosts quartz veins and breccias within silicified and clay - sericite altered felsic volcanics. Results included 5.18 g/t over 2.0m within a 7m interval averaging 1.64 g/t gold. Grab samples collected 40m north along the trend of this zone yielded 18.4 g/t gold, attesting to the presence of high grade values within the veined system. Of greater importance is the mineralized interval outlined at the eastern end of the trenches. This zone occurs within a rhyolite breccia that disappears beneath a welded tuff unit to the east. This 35+m wide mineralized interval, which is completely open to the east beneath the welded tuff, yielded 1.38 g/t gold over 18m with individual zones returning 8.3 g/t over 2m. The strong 200m wide IP chargeability anomaly in Zone III coincides with the western mineralized zone and may reflect an area of disseminated pyrite mineralization with auriferous quartz veins and breccias. More importantly, this IP anomaly coincides with the boundary of the near surface eastern zone of mineralization that is open along strike and to the east. Additional exploration will be required to outline these extensive areas of gold mineralization. Two lines of IP geophysics covering a strike extent of 800m were also completed near the Entree - Ivanhoe property boundary, along the projected northern continuation of the Ivanhoe porphyry gold-copper system. Both lines identified two structures that bound the northerly trending valley and may be important with respect to localizing porphyry gold-copper mineralization within a kilometre of Ivanhoe's Far North Zone. Additional geophysical lines will need to be completed to outline potential mineralized zones. The system will also have to be examined to depth. Several reconnaissance exploration targets were also identified in the recently completed exploration program. A large area of alteration occurs within a circular, possibly caldera-related, basin identified by satellite imagery to the east of Oyu Tolgoi. Numerous quartz veins ranging from 0.25m to over 5.0m in width are hosted by altered volcanics and north to northeasterly trending shears. Sampling of these veins returned values to 1.6 g/t gold, 157 ppm copper, 1035 ppm lead and 496 ppm zinc. Previously reported sampling in this area returned values to 2.6 g/t gold. Malachite was noted in an area of andesitic volcanics to the west of Oyu Tolgoi. Sampling returned values to 691 ppm copper. The fact that copper mineralization was found in the limited time spent in this area is very encouraging. Management is extremely encouraged by the results of the recent exploration programs. Results from soil sampling along the northern and southern projected continuation of the Ivanhoe porphyry gold-copper mineralized system are pending and will be reported on upon receipt and interpretation.” Looks like a promising play to me, especially if IVN is bringing infrastructure to their doorstep. I believe Entrée has the option to earn 60% interest in this property. www.entreegold.com b

To: jimsioi who wrote (15048)	7/30/2003 12:09:29 PM
From: Silver Super Bull	Read Replies (1) \| Respond to of 39344

Jims, RE: "I noticed that the Mining site only put the value of the reserves at $12 billion." My interpretation from reading the article is that this value is for the Far North Zone. RE: "I put the reserve valuation closer to 30 million but use only a 5% transfer to stock value which would therefore be about $6 Canadian..." I think you meant $30 Billion <g>, which is what I seem to recall. Didn't Friedland in one of his presentations quote that a typical advanced stage deposit would go for 10% of contained metal value? Don't quote me on it, though. If the 10% is typical, one can do the math and see that a takeover at 10% could result in a multi-bagger from here. Of course this isn't necessarily an advanced stage discovery, so you may have to discount more, but then again it has growth potential and potentially excellent economics. Just theorizing, not pumping... DB