Entree Gold Company to carry on Underground Development at Oyu Tolgoi
Entree Gold Company is to carry on Underground Development at Oyu Tolgoi.
Entree Gold Company is to carry on Underground Development at Oyu Tolgoi. Entrée Gold Incorporation welcomes announcements that formal notice to proceed approval has been given for the next stage in the development of the world-class Oyu Tolgoi mine in Mongolia. The announcements also noted that an updated Oyu Tolgoi Feasibility Study was completed including a re-estimate of capital, and all necessary permits have been granted. Underground construction is expected to re-commence in the middle of this year. Entrée has a carried interest in two of the Oyu Tolgoi project deposits - Hugo North Extension copper-gold deposit and Heruga copper-gold-molybdenum deposit. These deposits are the northern-most and southern-most, respectively, in the 12 kilometre-long Oyu Tolgoi series of deposits. Entrée holds a 20% carried interest in this mineral reserve through the Entrée/Oyu Tolgoi joint venture. A second lift for the Oyu Tolgoi underground block cave operation, including additional resources from Hugo North Extension, has been proposed but has not yet been modeled within the existing mine plan. Entrée Gold Inc. is a Canadian mineral exploration company balancing opportunity and risk with key assets in Mongolia and Nevada. Oyu Tolgoi project is a strategic partnership between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto.
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