Eldorado Gold Provides Update on Exploration Projects
Eldorado Gold Corporation has announced promising results from exploration drilling across its assets in Quebec, Greece, and Turkey. Notable highlights include high-grade intercepts at the Triangle deposit in Lamaque, indicating significant resource growth potential. The Ormaque zone has expanded with multiple high-grade assays, while continuity in gold grades has been confirmed at Efemcukuru. A new massive sulfide lens was discovered at Stratoni, enhancing resource potential. The company's commitment to exploration demonstrates a strategy to extend the mine life of its assets.
- High-grade gold intercepts reported at Lamaque's Triangle deposit, with drillhole TU-0325-094 yielding 3.1m @ 15.99 g/t Au.
- Successful expansion of the Ormaque zone with substantial drill results, including 6.60m @ 34.52 g/t Au.
- Strong results from Efemcukuru, confirming high gold grades in the Kokarpinar vein systems.
- New massive sulfide lens discovered at Stratoni with significant intersections, such as 39.0m @ 6.14% Zn.
- None.
VANCOUVER, British Columbia, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to provide results from brownfields exploration drilling programs in Quebec, Greece, and Turkey, including an update on the newly-discovered Ormaque zone at Lamaque. Additionally, the Company is providing a brief update on COVID-19.
Highlights in this release include:
- At Lamaque, new high-grade drill intercepts from the C2, C6 and C7 zones highlight the resource growth potential of the Triangle deposit; in addition, numerous new intercepts continue to grow the recent Ormaque zone discovery.
- At Efemcukuru, drill results have confirmed continuity of high gold grades within mineralized shoots at the Kokarpinar Middle and Kokarpinar South target areas, advancing this vein system to resource conversion drilling stage.
- At Stratoni, a new discovery of a lower massive sulfide lens of over 20 metres estimated true thickness just below current mine development provides significant resource growth potential, to be further tested in the upcoming surface exploration drilling program.
“These results from our brownfields programs continue to demonstrate the outstanding exploration potential at our operations”, said George Burns, President and CEO. “I am particularly pleased with the outcome of the step out drilling at C2, C6 and C7, which highlight the potential for further expansion of the Triangle deposit, and with the new results from the Ormaque zone. In Turkey, we had solid results at Efemcukuru and we continue to focus on extending the life of that asset through further exploration.”
Lamaque: Triangle Deposit
The 2020 exploration drilling program at the Triangle deposit is focused on resource expansion in the lower deposit, particularly in the C6 and C7 zones and their splays. 17,822 metres of drilling have been completed year to date to the end of October, including 6 drillholes from surface and 13 drillholes from underground platforms at the Triangle mine (Figure 1). New results, including several previously unreleased intercepts from late 2019 are summarized in Table 1 and are shown on longitudinal sections of the C6-20 and C7 zones in Figures 2 and 3*.
These include:
- At C2, drillhole TM-20-333A intersected 3.0m @ 6.84 g/t Au approximately 200 metres east of the current resources. A second drillhole on C2 (TU-325-094) intersected 3.1m @ 15.99 g/t Au (21.37 g/t Au uncapped) in a stepout approximately 50 m east of the current resources. Additional drilling is currently ongoing to further test extensions of C2.
- At C6, new high-grade intercepts highlight the potential of the C6-20 splay zone, including 2.9m @ 16.18 g/t Au (20.76 g/t Au uncapped; drillhole TU-0325-094) and 2.4m @ 9.05 g/t Au (53.03 g/t Au uncapped; drillhole TM-19-330W01). The latter drillhole also intersected 3.6m @ 13.61 g/t Au within the C6-60 splay zone.
- At C7, drilling has mainly targeted step-outs along the high-grade eastern edge of the deposit. Results to date include intercepts of 3.15 m @ 17.00 g/t Au (53.05 g/t Au uncapped; drillhole TM-19-330) and 3.5m @ 11.33 g/t Au (13.06 g/t Au uncapped; drillhole TU-0325-094). Results from an additional 8 drillholes completed in 2020 are pending.
*Gold grades for drillhole intervals listed in this release are capped at 40 g/t Au for Triangle deposit holes and 70 g/t Au for the Ormaque zone. Drill hole intercepts are drillhole lengths; where sufficient geological control exists, estimated true thicknesses of mineralized zones are listed in Tables 1 and 2.
Resource expansion drilling is ongoing with one underground rig and two surface rigs currently active. Additionally, resource conversion drilling of Triangle inferred resources is now complete for nearly all of C4 and the upper two-thirds of C5. Two underground drill rigs are continuing delineation drilling on the remainder of the inferred resources at C5.
Figure 1: Vertical section through the Triangle deposit showing outlines of mineralized zones, current extent of underground development, and traces of drillholes reported in this news release.
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Figure 2: Longitudinal section through the C6-20 mineralized zone at Triangle showing locations of drillholes referenced in this news release and outline of September 2019 resource.
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Figure 3: Longitudinal section through the C7 mineralized zone at Triangle showing locations of drillholes referenced in this news release and outline of September 2019 resource.
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Lamaque: Ormaque Zone
2020 drilling to date at the recently-discovered Ormaque zone totals 12,236 metres in 16 drillholes. The zone has now been defined over an area measuring approximately 650 metres east-west by 400 metres north-south, and to a depth of 550 metres (Figure 4). The zone remains open to the north, east, and at depth.
Significant assay results from the Ormaque zone since the discovery was announced in January 2020 are listed in Table 2 below and include:
- 15.85m @ 7.47 g/t Au (8.95 g/t Au uncapped) in drillhole LS-19-021; this intercept is within a wider zone of veining roughly 30 meters thick. It is one of the deepest intersections to date at Ormaque and highlights potential extensions of the zone at depth and to the east.
- 6.30m @ 17.48 g/t Au (29.06 g/t Au uncapped) in drillhole LS-20-028, is also on the east side of the deposit and corresponds to the extension of the previously reported wide intercept in drillhole LS-19-009 (27.3m @ 10.20 g/t Au.)
- 6.60m @ 34.52 g/t Au (64.63 g/t Au uncapped) in drillhole LS-20-030A is associated with a strong concentration of breccia veins with associated tourmaline alteration.
Drilling since the discovery was announced in January 2020 includes both stepout holes to the east and infill holes to better establish continuity of the thick high-grade intercepts. The numerous high-grade intercepts from this drilling are associated with extensional and hybrid extension-shear quartz-carbonate-tourmaline veins and adjacent tourmaline-altered wall rocks. Vein contact measurements from oriented drillcore, together with correlations between drillhole intercepts, indicate that most of the mineralized zones dip gently to moderately to the west-south-west. The vein system occurs within the “C porphyry” diorite (the same host rock as the Sigma mine), and is spacially associated with steeply NNW-dipping ductile-brittle shear zones, which are themselves weakly mineralized.
A north-south representative cross section through the Ormaque zone (Figure 5) shows the distribution of some of the new intercepts and preliminary interpretations of geological control on mineralized bodies.
Figure 4: Geological map of the Ormaque one and surrounding area, showing collar locations and projections of drillholes referenced in this news release and location of cross section in Figure 5.
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Figure 5: Vertical north-south cross section through the Ormaque zone (Section 295730E) showing the interpreted geometry of mineralized vein systems and intercepts from several drillholes reported in this news release.
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Efemcukuru Mine
At the Efemcukuru mine in Turkey, 8,610 metres of exploration drilling have been completed to date in 2020 on the Kokarpinar Middle and Kokarpinar South vein systems in 28 drillholes (Figure 6), from which results have been received for 21 drillholes (Table 3). These include both delineation holes to better establish grade and continuity of existing inferred resources, and stepout drillholes from these inferred resources. At both Kokarpinar Middle and Kokarpinar South, several new drillhole intercepts contain significantly higher grades than were obtained from previous nearby drillholes and are in the current resource model (Figure 7), including:
- At Kokarpinar South, intercepts of 2.6m @ 22.52 g/t Au (KV-731), 0.55m @ 51.60 g/t Au (KV-735) and 5.1m @ 11.33 g/t Au (KV-746).
- At Kokarpinar Middle, intercepts of 3.25m @ 32.18 g/t Au (KV-732) and 1.95m @ 36.92 g/t Au (KV-738).
Resource expansion drilling will continue for the remainder of the year at Kokarpinar and a resource conversion drilling program is planned for 2021.
Figure 6: Geological map of the Efemcukuru mine area showing locations of exploration drillholes completed in 2020 at the Kokarpinar vein system.
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Figure 7: Longitudinal section through the Kokarpinar Middle and South vein system showing drillhole results referenced in this news release, piercing points of previous drillholes and grade distribution of current inferred resource model.
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Stratoni Mine
At the Stratoni mine in Greece 13 exploration drillholes (2,582 metres) have been drilled to date in 2020. Due to limited drill platform availability, all of these holes were drilled from two underground locations from which extensions to the Mavres Petres orebody were targeted and deeper stratigraphic levels in the host marble unit for new massive sulfide lenses were tested. Six of these drillholes discovered a new massive sulfide lens of substantial thickness (Table 4, Figure 8). Highlights include:
- Drillhole MP0973 which intersected 39.0m @
6.14% Zn,5.28% Pb, and 128.8 g/t Ag, and - Drillhole MP0978, which intersected 54.9m @
12.5% Zn, 5.0 % Pb, and 122.8 g/t Ag
This new massive sulfide lens occurs near the base of the host marble and is structurally intact with little faulting along contacts, in contrast to the faulted contacts and fault dismemberment typical of the massive sulphide lenses along the upper marble contact.
All planned holes in the underground resource expansion drilling program have now been completed and stepout drilling is scheduled to resume in mid-November 2020 from newly-permitted surface drillsites.
Figure 8: Cross section through the Mavres Petres deposit showing drillhole intercepts of the newly-discovered massive sulfide lens within the lower part of the host marble unit.
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Tables
Table 1: Summary of 2020 and Q4 2019 drillhole assay results from the Triangle Deposit. Drillholes listed are limited to those that intersected the specified zones outside of the inferred resources reported for September 30, 2019. Only intervals above a 10 gram x meter cutoff are reported. Drillhole collar locations, collar orientations, and total lengths are listed in Appendix 1.
| HOLE ID | FROM (m) | TO (m) | LENGTH (m) | TRUE THICKNESS (m) | Au (g/t) uncapped | Au g/t with 40 g/t cap | Comment |
| C2 Zone | |||||||
| TU-0325-094 | 121.8 | 124.9 | 3.1 | 2.3 | 21.37 | 15.99 | |
| TU-0325-095 | 136.5 | 140 | 3.5 | 2.3 | 4.50 | ||
| TM-20-333A | 583.0 | 586.0 | 3.0 | 2.1 | 6.85 | 6.84 | |
| TM-20-331A; TM-20-332; TM-20-334A | Below reporting threshold in C2 shear zone | Holes targeting C7 | |||||
| C3 and C4 Zones | |||||||
| TM-19-329W01 | 908.5 | 912 | 3.5 | 3.2 | 5.64 | C4-60 Splay | |
| TU-0184-024 | 464.5 | 467.0 | 2.5 | 2.5 | 17.48 | 12.85 | C3-120 Splay |
| TU-0184-023 | 483.90 | 485.50 | 1.60 | 10.50 | C3 Splay | ||
| TM-19-329W05 | 778.9 | 787.1 | 8.2 | 6.6 | 12.21 | ||
| TM-19-330; TU-0184-024; TU-0184-022; TU-0184-023; TU-0325-094; TM-20-332; TM-20-333A; TM-20-334AM01; TU-0325-095 | Below reporting threshold in C4 shear zone |
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FAQ
What were the exploration drilling results for Eldorado Gold (EGO) in 2020?
Eldorado Gold reported high-grade intercepts in its 2020 exploration drilling results, especially at the Triangle deposit in Lamaque and the Ormaque zone.
How many meters of drilling were completed at the Triangle deposit by Eldorado Gold (EGO)?
By the end of October 2020, Eldorado Gold completed 17,822 metres of drilling at the Triangle deposit.
What is the significance of the new discovery at the Stratoni mine for Eldorado Gold (EGO)?
The new massive sulfide lens discovered at the Stratoni mine offers significant resource growth potential, as highlighted by drill results.
How does Eldorado Gold (EGO) plan to extend the life of its assets?
Eldorado Gold aims to extend the life of its assets through ongoing exploration and resource conversion drilling.
What are the key assay results from the Ormaque zone of Eldorado Gold (EGO)?
Key assay results from the Ormaque zone include 15.85m @ 7.47 g/t Au and 6.30m @ 17.48 g/t Au, indicating strong potential for further resource expansion.
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