Eldorado Gold Corporation ("Eldorado" or the "Company") is pleased
to provide results of its exploration activities completed since Q4
2018 at the Lamaque Project in Quebec, Canada. These results
have successfully expanded high grade mineralization beyond the
2018 resource model in the lower portion of the deposit as well as
an expanded bulk stockwork zone below 1,250 metres.
Highlights*
- Multiple high grade step-out
intersections at the Triangle Deposit significantly expand the
resource potential of the C7, C9, C9b, and C10 shear zones,
including intercepts of:• 3.85m at 19.33 g/t Au; 32.53 g/t Au
uncapped (C7; TM-16-191M01)• 9.30m at 10.72g/t Au (C7;
TM-18-327W02)• 5.30m at 12.22g/t Au; 17.23 g/t Au uncapped
(C9b; TM-18-327W01)
- Large vein stockwork zones
potentially amenable to bulk mining further defined in the lower
Triangle Deposit area, including:• 64.50m @ 3.00 g/t Au; 6.38 g/t
Au uncapped (zone below C9, TM-15-020W03M01)
- Step-out drilling at the Plug 4
Deposit expanded the depth extent of mineralization for an
additional 500 vertical metres down-plunge of the previous
resource
*All assays capped at 40.0 g/t Au unless
otherwise noted.
George Burns, President and CEO of Eldorado Gold
said, “Over the last 12 months our surface exploration drilling at
Lamaque has focused on better defining the resource potential in
the less-explored lower portion of the Triangle Deposit with a view
to expanding mineral resources in 2020. At the same time our
underground drilling continues to focus on conversion of existing
resources to reserves in the C5 and lower C4 mineralized
zones.”
“These exciting results significantly increase
the resource potential of the lower Triangle Deposit, which now
shows continuity of mineralization to similar depths as the nearby
historic Sigma mine. This asset continues to underpin our vision of
building a long-term business in the eastern Abitibi and growing
value for our shareholders.”
Triangle Deposit Exploration Summary
Exploration drilling at the Triangle Deposit
from Q4 2018 to date targeted the area below the C5 ore zone at
depths of 1,000-1,800 metres from surface. Results shown here
are based on 35,526 metres of diamond drilling, of which 22,650
metres targeted the lower Triangle Deposit, with the remainder
testing other zones in the Sigma-Lamaque project area. This
drilling was completed from surface platforms, with most holes at
the Triangle Deposit wedged from previous exploration
drillholes.
High gold grades within this interval occur in
both steep shear zone-hosted veins and in irregular networks of
extensional veins peripheral to the shear zones.
Mineralized shear zones in the lower deposit
include C6, C7, C8, C8b, C9, C9b, and C10 as well as numerous
secondary splays either parallel to, or branching off, these
primary structures (Figure 1). Through this interval, the
main shear zones steepen gradually with depth, accompanied by an
increase in density of mineralized secondary splays and extensional
vein networks. At depth, the combination of the steep shear
zones and extensional vein networks represent potential bulk mining
targets, similar to areas mined at the nearby historic Lamaque
Mine. Both styles of mineralization are localized within and
peripheral to diorite plugs, the most significant of which is the
Triangle diorite.
Figure 1: Cross sectional
view of the Triangle Deposit looking west, showing traces of
drillhole completed since early Q4 2018, outline of the Triangle
diorite, and mineralized zones referred to in this news
release. https://www.globenewswire.com/NewsRoom/AttachmentNg/8f852f2c-07db-444c-9688-1c75cb00158d
Assays have been received from 17 drillholes
completed in the lower Triangle Deposit since early Q4 2018, all of
which intersected significant zones of mineralization. Table
1 (below) lists significant intercepts, including estimated true
widths where possible and both actual assay composites and values
calculated with a 40 g/t cap applied to individual assays.
References to intercepts in the text represent actual drillhole
lengths while those on figures 2-4 are true widths of mineralized
zones.
Shear Zone Hosted
Mineralization
The most continuous and consistently mineralized
shear zones in the lower Triangle deposit include C7, C9, C9b, and
C10. These shear zones are similar in character to the main
ore-bearing shear zones in the upper Triangle Deposit (C1-C5), with
strongly foliated wall rock margins overprinted by
sericite-albite-carbonate-pyrite alteration and enclosing variably
deformed quartz-carbonate-tourmaline veins. Gold is contained
within both the vein and deformed wall rock.
C7: The C7 mineralized zone is
hosted within a large ductile-brittle shear zone, which offsets the
Triangle intrusion approximately 100m. Drilling to date has
delineated the C7 mineralized zone over a strike length of
approximately 600 metres and a dip extent of 500 metres. The
thickness of the shear zone in this area measures up to 20
metres.
Significant new drill intercepts from C7
include:
- 3.85m @ 19.33 g/t Au; 32.53 g/t Au
uncapped (TM-16-191M01)
- 3.08m @ 10.93 g/t Au
(TM-18-321AW04M02)
- 9.30m @ 10.72 g/t Au
(TM-18-327W02)
- 5.60m @ 9.40 g/t Au
(TM18-327W03)
All of these intercepts are from the easternmost
area tested on C7, well outside of the 2018 inferred resource
outline (Figure 2). These are some of the best grades and
thicknesses obtained to date on C7, and the zone remains open
further to the east. Current drilling is testing the
updip extension of the C7 Zone, above where thick, high grade
intercepts have been defined at elevations roughly equivalent to
the lower limit of the C5 zone resource.
Figure 2: Longitudinal
section through the C7 mineralized zone, showing piercing points of
drillholes and grade x true thickness contours, Au capped at 40
g/t. Labeled piercing points are limited to new intercepts
exceeding 10.0 g/t x m. For all zones, best new results are from
the eastern portion of the zone, well outside the limits of the
current inferred resource. The mineralized zones remain open to the
east outside of these new
intercepts. https://www.globenewswire.com/NewsRoom/AttachmentNg/0610e7aa-0719-49ce-a524-e890c3a8f26c
C9/C9b/C10: The C9, C9b, and
C10 shear zones collectively define a tabular, steeply south
dipping to subvertical corridor ranging from 70 metres to over 120
metres wide. The C10 shear zone is a ductile-brittle fault
zone similar to the C7 zone, and displaces the Triangle diorite by
at least 100m. This corridor is steeper than the shear zones above,
and contains numerous splay structures and extension vein arrays
defining large zones of veining and alteration. High gold grades in
this corridor occur within the principal shear zones, as well as in
secondary splays and extensional vein arrays flanking shear-hosted
zones, and are concentrated near the contacts of and within diorite
intrusions. Drilling to date has tested this structural
corridor over a strike length of approximately 600 metres and a
vertical extent of 500 metres. Within the drilled area, C9b and C10
show best continuity and grade of shear-hosted mineralization.
Significant new drill intercepts from C9, C9b,
and C10 include:
- 6.00m @ 10.11 g/t Au (C9; TM-15-020W01)
- 3.40m @ 13.47 g/t Au (C9, TM-18-321AW05)
- 4.80m @ 5.06 g/t Au (C9, TM-18-327W01)
- 5.30m @ 17.23 g/t Au (C9b, TM-18-327W01)
- 3.40m @ 10.32 g/t Au (C9b, TM-18-327W03)
- 6.60m @ 4.89 g/t Au (C10, TM-15-020W02)
- 4.00m @ 10.17 g/t Au (C10, TM-16-220W05)
Similar to C7, most of the best grades and
thicknesses were obtained from the easternmost drillholes testing
the system, outside of the current inferred resource. The
mineralized shear zones remain open updip and to the east along a
shallowly east-plunging axis (Figures 3 and 4), parallel to the
intersection of the shear zones and the Triangle diorite.
Figure 3: Longitudinal section through the
C9b mineralized zone, showing piercing points of drillholes and
grade x true thickness contours. Au capped at 40 g/t. Labeled
piercing points are limited to new intercepts exceeding 10.0 g/t x
m. For all zones, best new results are from the eastern portion of
the zone, well outside the limits of the current inferred resource.
The mineralized zones remain open to the east outside of these new
intercepts. https://www.globenewswire.com/NewsRoom/AttachmentNg/a035a63e-375a-40dd-89f4-a36ac8260ea0
Figure 4: Longitudinal
section through the C10 mineralized zone, showing piercing points
of drillholes and grade x true thickness contours. Au capped at 40
g/t. Labeled piercing points are limited to new intercepts
exceeding 10.0 g/t x m. For all zones, best new results are from
the eastern portion of the zone, well outside the limits of the
current inferred resource. The mineralized zones remain open to the
east outside of these new
intercepts. https://www.globenewswire.com/NewsRoom/AttachmentNg/9d6b2759-2a7a-4c09-ba0e-29689926dc66
C6, C8, and associated splays:
The C6 and C8 shear zones have both been defined through drilling
over a vertical extent of approximately 500m. Although both
have local wide, high grade intercepts, drilling completed to date
has not established the level of grade continuity found in the C7,
C9, C9b, C10, and upper Triangle shear zones.
However, numerous high grade intervals occur
within secondary splays associated with C6, C8, and the deeper
shear zones. Where their orientation is constrained,
these secondary splays tend to have shallower dips than the main
shear zones. The splays are most abundant near contacts of
the Triangle diorite and other intrusions. Significant new
intercepts from C6, C8, and these splays include:
- 4.30m @ 16.63 g/t Au; 20.62 g/t Au
uncapped (splay between C8 and C9, TM-15-020W01)
- 2.40m @ 23.76 g/t Au; 78.62 g/t Au
uncapped (splay between C9b and C10, TM15-020W03M01)
- 1.70m @ 14.75 g/t Au; 1,038.70 g/t
Au uncapped (splay below C10, TM15-020W03M01)
- 4.70m @ 9.57 g/t Au (splay between
C9b and C10, TM15-020W04)
- 5.25m @ 9.96 g/t Au; 13.14 g/t Au
uncapped (C8, TM-15-053)
- 4.30m @ 21.24 g/t Au; 37.74 g/t Au
uncapped (splay between C9b and C10, TM-18-321AW05)
- 3.50m @ 17.26 g/t Au; 22.03 g/t Au
uncapped (splay between C9 and C9b, TM-18-327W01)
- 2.30m @ 17.07 g/t Au; 22.19 g/t Au
uncapped (splay between C9 and C9b, TM-18-327W02)
Ongoing drilling of the lower Triangle Deposit
will better define continuity of mineralized zones hosted by these
shear zones and splays.
Stockwork zones: Stockwork
zones in the Triangle Deposit represent vein networks composed of
shear-hosted and extensional veins with associated alteration and
mineralization, which combine to form over 10% of the rock volume.
These zones vary in size and shape, but can have longest
dimensions of over 100m (Figure 5). They are similar in structural
and mineralization style to the stockwork zones mined at the
historical Lamaque Mine, located 2.5km to the northwest of the
Triangle Deposit. Recent stockwork zone intercepts include:
- 54.00m @ 3.98 g/t Au; 4.78 g/t Au
uncapped (zone between C9 and C9B, TM-18-327W01 )
- 64.50m @ 3.00 g/t Au; 6.38 g/t Au
uncapped (zone below C9, TM-15-020W03M01)
- 52.80m @ 2.67 g/t Au; 4.94 g/t Au
uncapped (zone below C10, TM-15-020W04)
- 37.5m @ 3.62 g/t Au; 4.37 g/t Au
uncapped (TM-18-327W03)
Stockwork zones are best developed within and
near the Triangle diorite. Extensional veins within them are
mainly subhorizontal to gently dipping, while the shear and
shear-extensional veins dip steeply south.
Figure 5: Cross section
through the C9/C9b/C10 structural corridor showing extent of
stockwork mineralization and intercepts in several drillholes
highlighted in this news release (in red text). Stockwork vein
networks, consisting of both shear-hosted veins and extension
veins, are focused within and adjacent to the lower part of the
Triangle diorite, which forms a discrete body in the footwall to
the C10 shear zone. Mineralization remains open down-plunge and
along
strike. https://www.globenewswire.com/NewsRoom/AttachmentNg/b84055cc-47a9-438f-a0e5-3f229e3a73e6
Plug #4 Deposit Exploration
Update
Two new drillholes were completed at the Plug 4
deposit, testing for continuity of mineralization below the extent
of the previous drilling. Both drillholes intersected wide
mineralized stockwork zones featuring shear veins flanked by
extension vein arrays, similar in style and grade characteristics
to those forming the main deposit area. The host Plug 4
intrusion has now been tested to a depth of 1,500m from surface,
and mineralization remains open down plunge.
Table 1: Significant recent exploration
drillhole intercepts from the Triangle deposit. Results
are limited to intervals with grade times thickness exceeding 20
gram/tonne-metres.
Hole ID |
From(m) |
To(m) |
Width(m) |
Est. truewidth (m) |
Au, cappedat 40 g/t |
Au (g/t)uncapped |
Zone / style |
TM-15-020W01 |
1500.90 |
1563.70 |
62.80 |
|
2.36 |
2.64 |
Stockwork Zone |
including |
1500.90 |
1505.20 |
4.30 |
3.71 |
16.63 |
20.62 |
Splay (C8-9) |
also including |
1545.00 |
1551.00 |
6.00 |
3.55 |
- |
10.11 |
C9 |
and |
1607.75 |
1669.20 |
61.45 |
|
|
1.10 |
Stockwork Zone |
including |
1667.30 |
1669.20 |
1.90 |
|
|
17.46 |
Extension veins |
TM-15-020W02 |
1533.90 |
1571.00 |
37.10 |
|
- |
1.74 |
Stockwork Zone |
including |
1561.90 |
1567.20 |
5.30 |
|
- |
5.49 |
Extension veins |
and |
1649.20 |
1675.10 |
25.90 |
|
- |
4.30 |
Stockwork Zone |
including |
1654.30 |
1656.70 |
2.40 |
|
- |
9.65 |
Extension veins |
also including |
1660.00 |
1667.10 |
7.10 |
|
- |
5.67 |
Extension veins |
also including |
1669.10 |
1674.60 |
5.50 |
4.99 |
- |
7.09 |
Splay (C9-10) |
and |
1700.50 |
1836.80 |
136.30 |
|
- |
1.75 |
Stockwork Zone |
including |
1745.00 |
1751.60 |
6.60 |
3.50 |
- |
4.89 |
C10 |
also including |
1757.00 |
1766.00 |
9.00 |
|
- |
3.79 |
Extension veins |
also including |
1833.00 |
1836.80 |
3.80 |
|
- |
13.98 |
Extension veins |
and |
1892.00 |
1922.70 |
30.70 |
|
- |
0.96 |
Stockwork |
TM-15-020W03M01 |
1489.80 |
1490.40 |
0.60 |
0.60 |
40.00 |
61.49 |
Extension vein |
and |
1503.50 |
1568.00 |
64.50 |
|
3.00 |
6.38 |
Stockwork Zone |
including |
1503.50 |
1506.00 |
2.50 |
2.27 |
11.14 |
11.14 |
Splay (C8-9) |
also including |
1507.30 |
1510.90 |
3.60 |
3.28 |
10.28 |
10.28 |
Splay (C8-9) |
also including |
1513.50 |
1518.10 |
4.60 |
|
14.54 |
61.90 |
Extension veins |
also including |
1537.40 |
1539.80 |
2.40 |
|
- |
11.01 |
Extension veins |
and |
1651.80 |
1675.40 |
23.60 |
|
3.03 |
8.61 |
Stockwork Zone |
including |
1656.00 |
1658.40 |
2.40 |
2.19 |
23.76 |
78.62 |
Splay (C9b-10) |
and |
1700.70 |
1786.50 |
85.80 |
|
1.11 |
21.79 |
Stockwork Zone |
including |
1747.70 |
1749.40 |
1.70 |
1.56 |
14.75 |
1,038.70 |
Splay (below C10) |
also including |
1782.70 |
1786.50 |
3.80 |
|
6.05 |
14.74 |
Extension veins |
and |
1812.80 |
1817.10 |
4.30 |
3.93 |
- |
6.74 |
Splay (below C10) |
and |
1846.00 |
1878.40 |
32.40 |
|
- |
1.45 |
Stockwork Zone |
including |
1860.90 |
1862.40 |
1.50 |
|
14.65 |
15.34 |
Extension veins |
TM-15-020W04 |
1514.40 |
1515.10 |
0.70 |
0.70 |
40.00 |
48.21 |
Extension vein |
and |
1534.80 |
1567.00 |
32.20 |
|
2.91 |
3.00 |
Stockwork Zone |
including |
1546.80 |
1550.70 |
3.90 |
|
11.68 |
12.38 |
Extension veins |
also including |
1562.00 |
1567.00 |
5.00 |
4.52 |
- |
7.05 |
Splay (C9/9b) |
and |
1623.00 |
1627.50 |
4.50 |
|
7.11 |
8.29 |
Extension veins |
and |
1649.60 |
1669.80 |
20.20 |
|
- |
4.55 |
Stockwork Zone |
including |
1658.00 |
1659.20 |
1.20 |
|
- |
19.18 |
Extension vein |
also including |
1662.30 |
1667.00 |
4.70 |
4.25 |
- |
9.57 |
Splay |
and |
1693.50 |
1696.10 |
2.60 |
2.35 |
- |
8.48 |
Splay |
and |
1753.70 |
1796.30 |
42.60 |
|
- |
1.04 |
Stockwork Zone |
and |
1809.50 |
1862.30 |
52.80 |
|
2.67 |
4.94 |
Stockwork Zone |
including |
1809.50 |
1811.50 |
2.00 |
|
|
14.95 |
Splay (below C10) |
and |
1823.30 |
1826.60 |
3.30 |
|
17.94 |
53.68 |
Extension veins |
and |
1870.40 |
1905.10 |
34.70 |
|
- |
1.69 |
Stockwork |
including |
1899.60 |
1905.10 |
5.50 |
|
- |
4.90 |
Extension vein |
and |
1972.60 |
1996.90 |
24.30 |
|
|
1.17 |
Stockwork |
TM-15-053W01 |
1222.25 |
1225.35 |
3.10 |
2.75 |
- |
9.15 |
C7 |
TM-15-053 |
1426.00 |
1431.25 |
5.25 |
4.30 |
9.96 |
13.14 |
C8 |
and |
1623.50 |
1624.25 |
0.75 |
|
40.00 |
55.82 |
Extension vein |
TM-16-182AW02 |
917.70 |
920.20 |
2.50 |
2.26 |
- |
11.77 |
C5 |
|
|
|
|
|
|
|
Hole ID |
From(m) |
To(m) |
Width(m) |
Est. truewidth (m) |
Au, cappedat 40 g/t |
Au(g/t) |
Zone / style |
TM-16-191M01 |
1195.40 |
1199.25 |
3.85 |
3.06 |
19.33 |
32.53 |
C7 |
TM-16-220W04 |
727.80 |
730.50 |
2.70 |
2.57 |
- |
14.76 |
C4-40 |
TM-16-220W05 |
1627.15 |
1631.15 |
4.00 |
2.66 |
- |
10.17 |
C10 |
TM-16-233W01 |
788.40 |
791.60 |
3.20 |
2.51 |
10.04 |
27.98 |
Splay (C4/5) |
TM-18-321AW04M02 |
1322.70 |
1331.20 |
8.50 |
7.45 |
11.79 |
15.98 |
C6-20 |
and |
1502.45 |
1505.50 |
3.05 |
2.02 |
- |
10.93 |
C7 |
TM-18-321AW05 |
1644.50 |
1647.20 |
2.70 |
2.09 |
- |
10.08 |
Splay (C8b/9) |
and |
1701.00 |
1704.40 |
3.40 |
2.74 |
- |
13.47 |
C9 |
and |
1788.50 |
1792.80 |
4.30 |
3.30 |
21.24 |
37.74 |
Splay (C9b/10) |
and |
1912.00 |
1917.60 |
5.60 |
4.27 |
- |
5.69 |
Splay (below C10) |
and |
1945.00 |
1945.50 |
0.50 |
|
40.00 |
46.78 |
Extension vein |
TM-18-326M01 |
506.32 |
510.31 |
3.99 |
2.77 |
- |
6.34 |
C2 |
and |
843.34 |
853.16 |
9.82 |
8.42 |
- |
4.10 |
C4 |
TM-18-327 |
976.15 |
982.00 |
5.85 |
4.20 |
- |
6.20 |
C5 |
TM-18-327W01 |
1540.20 |
1563.90 |
23.70 |
|
- |
1.61 |
Stockwork Zone |
and |
1627.20 |
1681.20 |
54.00 |
|
3.98 |
4.78 |
Stockwork Zone |
including |
1629.40 |
1634.20 |
4.80 |
3.47 |
- |
5.06 |
C9 |
also including |
1661.50 |
1665.00 |
3.50 |
2.94 |
17.26 |
22.03 |
Splay (C9/9b) |
also including |
1670.20 |
1675.50 |
5.30 |
3.59 |
12.22 |
17.23 |
C9B |
and |
1751.90 |
1758.20 |
6.30 |
|
- |
3.19 |
Extension veins |
TM-18-327W02 |
1338.90 |
1348.20 |
9.30 |
7.72 |
- |
10.72 |
C7 |
and |
1501.50 |
1503.40 |
1.90 |
1.55 |
13.24 |
23.27 |
Splay (C8/C8b) |
and |
1626.20 |
1685.00 |
58.80 |
|
2.48 |
3.00 |
Stockwork Zone |
including |
1638.50 |
1640.80 |
2.30 |
1.82 |
17.07 |
22.19 |
Splay (C9/9b) |
also including |
1647.40 |
1655.10 |
7.70 |
|
- |
2.91 |
Extension veins |
also including |
1674.50 |
1685.00 |
10.50 |
|
5.21 |
7.02 |
Extension veins |
and |
1795.00 |
1814.00 |
19.00 |
|
- |
1.60 |
Stockwork Zone |
TM-18-327W03 |
1321.20 |
1326.80 |
5.60 |
4.50 |
- |
9.40 |
C7 |
and |
1428.80 |
1431.10 |
2.30 |
1.89 |
- |
11.02 |
C8 |
and |
1484.40 |
1488.20 |
3.80 |
2.91 |
13.96 |
17.46 |
C8b |
and |
1526.50 |
1553.30 |
26.80 |
|
- |
3.82 |
Stockwork Zone |
including |
1526.50 |
1528.50 |
2.00 |
|
- |
19.12 |
Splay (C8b-C9) |
also including |
1535.00 |
1543.30 |
8.30 |
|
- |
3.45 |
Extension veins |
and |
1670.50 |
1708.00 |
37.50 |
|
3.62 |
4.37 |
Stockwork Zone |
including |
1670.50 |
1673.20 |
2.70 |
|
19.14 |
29.56 |
Splay (C9/C9b) |
also including |
1678.60 |
1682.00 |
3.40 |
2.10 |
- |
10.32 |
C9B |
Table 2: Significant recent drillhole
intercepts from the Plug 4 deposit.
Hole ID |
From(m) |
To(m) |
Width(m) |
Estimatedtruewidth (m) |
Au(g/t,cappedat 40g/t) |
Au(g/t)capped |
Zone / style |
P4-12-20 |
1041.30 |
1046.20 |
4.90 |
|
- |
11.49 |
Stockwork |
and |
1166.20 |
1176.40 |
10.20 |
|
- |
2.90 |
Stockwork |
and |
1212.85 |
1219.80 |
6.95 |
|
5.58 |
15.65 |
Stockwork |
and |
1227.15 |
1248.10 |
20.95 |
|
- |
1.05 |
Stockwork |
and |
1283.70 |
1295.30 |
11.60 |
|
2.58 |
2.59 |
Stockwork |
P4-12-20W01 |
840.00 |
847.00 |
7.00 |
5.33 |
6.77 |
9.27 |
CP8 Shear Zone |
and |
1165.30 |
1193.60 |
28.30 |
|
1.87 |
1.98 |
Stockwork |
and |
1238.10 |
1251.20 |
13.10 |
|
- |
3.76 |
Stockwork |
and |
1272.50 |
1290.40 |
17.90 |
|
- |
1.36 |
Stockwork |
About Eldorado Gold
Eldorado is a gold and base metals producer with
mining, development and exploration operations in Turkey, Canada,
Greece, Romania, Serbia, and Brazil. The Company has a highly
skilled and dedicated workforce, safe and responsible operations, a
portfolio of high-quality assets, and long-term partnerships with
local communities. Eldorado's common shares trade on the
Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange
(NYSE: EGO).
Contacts
Investor RelationsPeter Lekich,
Manager Investor Relations604.687.4018 or
1.888.353.8166 peter.lekich@eldoradogold.com
MediaLouise Burgess, Director
Communications & Government Relations604.687.4018 or
1.888.353.8166 louise.burgess@eldoradogold.com
Qualified Persons
Dr. Peter Lewis P.Geo., Eldorado’s Vice
President, Exploration, is the qualified person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral
Projects ("NI 43-101") responsible for, and has approved the
scientific and technical disclosure of the exploration results
contained in this press release. Eldorado operates its
exploration programs according to industry best practices and
employs rigorous quality assurance and quality control procedures.
All results presented are based on half-core samples of diamond
drill core prepared and analyzed at Bourlamaque Laboratories in Val
d’Or, Quebec. All Au assays are based on fire
assay analysis of a 30 gm charge followed by an atomic adsorption
finish. Samples with Au grades above 5.0 g/t were re-assayed
and completed with a gravimetric finish. Certified standard
reference materials, field duplicate and blank samples were
inserted regularly and were closely monitored to ensure the quality
of the data.
Forward Looking Statement
Certain of the statements made and information
provided in this press release are forward-looking statements or
information within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws. Often, these forward-looking statements and
forward-looking information can be identified by the use of words
such as "plans", "expects", "is expected", "budget",
“continue”, “projected”, "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negatives thereof or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved.
Forward-looking statements or information
contained in this release include, but are not limited to,
statements or information with respect to: further
exploration results and our ability to extend the mine life at our
Lamaque Project, planned capital and exploration expenditures; and
our strategy, plans and goals, including our proposed exploration,
development, construction, permitting and operating plans and
priorities, and related timelines and schedules.
Forward-looking statements and forward-looking
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information.
We have made certain assumptions about the
forward-looking statements and information, including assumptions
about the geopolitical, economic, permitting and legal climate that
we operate in; anticipated costs and expenses and the ability to
achieve our goals. Even though our management believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that the forward-looking statement or information will prove to be
accurate. Many assumptions may be difficult to predict and are
beyond our control.
Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements or
information. These risks, uncertainties and other factors
include, among others, the following: geopolitical and economic
climate, risks related to mineral tenure and permits;;the updating
of reserve and resource models and life of mine plans; mining
operational and development risk; regulatory risks and liabilities
including, regulatory environment and restrictions, and
environmental regulatory restrictions and liability; additional
funding requirements; community and non-governmental organization
actions; speculative nature of gold exploration and defective title
to mineral claims or properties, as well as those risk factors
discussed in the sections titled “Forward-Looking Statements” and
"Risk factors in our business" in the Company's most recent
Annual Information Form & Form 40-F. The reader is directed to
carefully review the detailed risk discussion in our most recent
Annual Information Form filed on SEDAR under our Company name for a
fuller understanding of the risks and uncertainties that affect the
Company’s business and operations.
Forward-looking statements and information is
designed to help you understand management’s current views of our
near and longer term prospects, and it may not be appropriate for
other purposes. There can be no assurance that
forward-looking statements or information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements.
Accordingly, you should not place undue reliance on the
forward-looking statements or information contained herein.
Except as required by law, we do not expect to update
forward-looking statements and information continually as
conditions change.
Cautionary Note to US Investors
Concerning Estimates of Measured, Indicated and Inferred
Resources
The terms “mineral resource”, “measured mineral
resource”, “indicated mineral resource”, “inferred mineral
resource” used herein are Canadian mining terms used in accordance
with NI 43-101 under the guidelines set out in the Canadian
Institute of Mining and Metallurgy and Petroleum (the “CIM”)
Standards on Mineral Resources and Mineral Reserves, adopted by the
CIM Council, as may be amended from time to time. These definitions
differ from the definitions in the United States Securities &
Exchange Commission (“SEC”) Industry Guide 7. Under Industry Guide
7, a mineral reserve is defined as a part of a mineral deposit
which could be economically and legally extracted or produced at
the time the mineral reserve determination is made.
While the terms “mineral resource”, “measured
mineral resource,” “indicated mineral resource”, and “inferred
mineral resource” are recognized and required by Canadian
regulations, they are not defined terms under Industry Guide 7 and
historically have not been permitted to be used in reports and
registration statements filed with the SEC. As such, information
contained herein concerning descriptions of mineralization and
resources under Canadian standards may not be comparable to similar
information made public by U.S. companies that comply with Industry
Guide 7.
Accordingly, information herein containing
descriptions of our mineral deposits may not be comparable to
similar information made public by US companies pursuant to
Industry Guide 7.
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