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.https://www.globenewswire.com/NewsRoom/AttachmentNg/56f13b70-128a-4e6a-9e4f-5baf256cb740
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.https://www.globenewswire.com/NewsRoom/AttachmentNg/e223e897-66f5-4478-8aaf-8fd0731d0d01
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.https://www.globenewswire.com/NewsRoom/AttachmentNg/6895ef68-eace-44f0-8083-8f9e4d8b7213
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.https://www.globenewswire.com/NewsRoom/AttachmentNg/0f1c6cdb-a872-406b-94ee-8a79c6cb675f
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.https://www.globenewswire.com/NewsRoom/AttachmentNg/bc69b6fc-f571-4bda-8562-08fcbfc5d346
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.https://www.globenewswire.com/NewsRoom/AttachmentNg/25aca0a1-eb12-4637-b654-93a374ad0630
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.https://www.globenewswire.com/NewsRoom/AttachmentNg/2d8543cd-a7f6-458b-be1d-efa1dc139bb0
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.https://www.globenewswire.com/NewsRoom/AttachmentNg/063e376f-82a7-4c37-8901-3fe775bd87dc
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) |
TRUETHICKNESS(m) |
Au (g/t)uncapped |
Au g/twith 40g/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 |
Holes targeting C7, east of main C4 resource |
C5 Zone |
TM-20-334AM01 |
1044.0 |
1047.0 |
3.0 |
2.5 |
15.09 |
10.81 |
|
and |
1053.50 |
1060.00 |
6.50 |
|
2.89 |
|
Extension veins |
TU-0184-022 |
821.10 |
824.00 |
2.90 |
|
6.08 |
|
Extension veins |
TM-18-321AW06; TM-19-330; TU-0184-024; TM-19-329W05; TU-0184-022;
TU-0184-023; TM-20-331A; TU-0325-094; TM-20-332; TU-0325-095 |
Below reporting threshold in C5 shear zone |
Holes targeting C7, east of main C5 resource |
C6 Zone |
TM-18-321AW06 |
1124.1 |
1128.9 |
4.8 |
3.0 |
3.15 |
|
|
TU-0325-094 |
787.2 |
791.3 |
4.1 |
3.5 |
2.85 |
|
|
and |
904.35 |
907.25 |
2.9 |
2.5 |
20.76 |
16.18 |
C6-20 Splay |
TM-19-329W02 |
1168.5 |
1174.7 |
6.2 |
5.3 |
2.95 |
|
C6-10 Splay |
and |
1218.5 |
1221.0 |
2.5 |
2.0 |
6.88 |
|
C6-20 Splay |
TM-19-330 |
1134.6 |
1137.5 |
2.9 |
2.4 |
4.22 |
|
|
and |
1240.75 |
1243.85 |
3.1 |
3.0 |
6.71 |
|
C6-20 Splay |
TM-19-330W01 |
1132.8 |
1136.4 |
3.6 |
3.1 |
13.15 |
|
C6-60 Splay |
and |
1248.9 |
1251.3 |
2.4 |
2.0 |
53.03 |
9.05 |
C6-20 Splay |
TM-20-333AW01 |
1397.8 |
1418.5 |
20.7 |
17.8 |
5.61 |
5.21 |
C6-20 Splay |
TM-18-321AW06; TM-19-330; TM-16-220W07; TM-19-329W02; TM-19-330W01;
TU-0184-024; TM-19-329W05; TU-0184-022; TU-0184-023; TM-16-191W02;
TM-20-331A; TM-20-334AM01 |
Below reporting threshold in C6 shear zone |
|
C7 Zone |
TM-16-191W02 |
1182.5 |
1187.2 |
4.7 |
4.0 |
2.58 |
|
|
TM-20-333A |
1540.3 |
1543.1 |
2.8 |
2.3 |
4.10 |
|
|
TM-20-333AW01 |
1536.70 |
1543.60 |
6.90 |
5.9 |
12.49 |
|
|
TU-0325-094 |
999.9 |
1003.4 |
3.5 |
2.8 |
13.06 |
11.33 |
|
TM-16-220W07 |
1208.3 |
1211.3 |
3 |
2.4 |
5.21 |
|
|
TM-19-330 |
1349.5 |
1352.65 |
3.15 |
2.6 |
53.05 |
17.00 |
|
TM-19-329; TM-18-321AW06; TM-16-220W06M03; TM-19-329W01;
TM-18-321AW07; TM-19-329W02; TM-19-330W01; TU-0184-024;
TM-19-329W05; TU-0184-022; TU-0184-023; TM-20-331A;
TM-20-334AM01 |
Below reporting threshold in C7 shear zone |
|
Table 2: Summary of 2020
drillhole assay results from the Ormaque zone. Only intervals above
a 20 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) |
TRUETHICKNESS(m) |
Au (g/t)uncapped |
Au (g/t) with70 g/t cap |
LS-19-015 |
328.9 |
330.9 |
2.0 |
1.5 |
10.41 |
|
and |
354.0 |
359.0 |
5.0 |
3.8 |
14.63 |
13.48 |
and |
404.9 |
414.45 |
9.55 |
7.2 |
4.50 |
|
and |
622.1 |
626.5 |
4.40 |
3.5 |
17.90 |
14.99 |
and |
635.6 |
641.55 |
5.95 |
4.7 |
11.57 |
10.87 |
LS-19-017A |
388.0 |
389.0 |
1.0 |
0.8 |
26.67 |
|
and |
394.0 |
395.0 |
1.0 |
0.8 |
21.18 |
|
and |
406.45 |
407.8 |
1.35 |
1.1 |
146.10 |
39.94 |
and |
425.4 |
426.9 |
1.5 |
1.2 |
41.02 |
32.18 |
and |
432.5 |
434.5 |
2.0 |
1.6 |
38.55 |
26.63 |
LS-19-018A |
173.3 |
173.8 |
0.5 |
0.4 |
84.75 |
70.00 |
LS-19-019 |
287.8 |
290.1 |
2.3 |
2.1 |
13.32 |
|
and |
303.5 |
305.3 |
1.8 |
1.6 |
27.45 |
|
and |
322.0 |
322.5 |
0.5 |
0.5 |
45.31 |
|
and |
478.25 |
480.0 |
1.75 |
1.5 |
56.39 |
30.59 |
LS-19-020 |
240.05 |
242.6 |
2.55 |
1.9 |
11.41 |
|
LS-19-021 |
395.5 |
399.0 |
3.5 |
3.1 |
6.19 |
|
and |
688.95 |
704.8 |
15.85 |
13.0 |
8.95 |
7.47 |
and |
711.05 |
713.55 |
2.5 |
2.01 |
8.61 |
|
and |
719.5 |
725.2 |
5.7 |
4.7 |
5.53 |
|
LS-19-023 |
153.7 |
155.2 |
1.5 |
1.3 |
13.75 |
|
and |
286.8 |
289.5 |
2.7 |
2.2 |
8.26 |
|
and |
382.5 |
386.2 |
3.7 |
3.0 |
64.69 |
24.14 |
LS-20-024 |
482.2 |
483.2 |
1.0 |
0.9 |
21.88 |
|
LS-20-025 |
325.0 |
328.1 |
3.1 |
2.6 |
44.10 |
43.03 |
and |
344.0 |
359.8 |
15.8 |
13.3 |
3.66 |
|
including |
347.6 |
350.2 |
2.6 |
2.2 |
11.28 |
|
LS-20-026 |
274.1 |
275.9 |
1.8 |
1.6 |
57.76 |
47.23 |
and |
294.0 |
294.5 |
0.5 |
0.4 |
71.26 |
70.00 |
and |
323.6 |
325.5 |
1.9 |
1.7 |
13.63 |
|
LS-20-027 |
148.5 |
149.8 |
1.3 |
1.2 |
19.64 |
|
and |
160.35 |
161.0 |
0.65 |
0.6 |
53.39 |
|
and |
365.4 |
370.4 |
5.0 |
4.3 |
11.67 |
|
and |
629.0 |
640.0 |
11.0 |
8.2 |
1.91 |
|
LS-20-028 |
397.25 |
398.75 |
1.5 |
1.2 |
17.18 |
|
and |
406.85 |
410.0 |
3.15 |
2.5 |
10.57 |
|
and |
487.6 |
491.55 |
3.95 |
3.1 |
11.38 |
|
and |
510.85 |
517.15 |
6.3 |
4.9 |
29.06 |
17.48 |
and |
697.8 |
698.80 |
1.0 |
0.7 |
153.02 |
39.87 |
and |
719.3 |
720.8 |
1.5 |
1.1 |
17.99 |
|
LS-20-029 |
164.2 |
164.7 |
0.5 |
0.4 |
41.59 |
|
and |
169.5 |
170.5 |
1.0 |
0.9 |
31.93 |
|
and |
404.95 |
408.35 |
3.4 |
2.9 |
27.23 |
|
LS-20-030 |
290.0 |
291.0 |
1.0 |
0.9 |
151.45 |
70.00 |
LS-20-030A |
258.8 |
260.4 |
1.6 |
1.4 |
15.53 |
|
and |
266.65 |
273.25 |
6.6 |
5.7 |
64.63 |
34.52 |
and |
275.25 |
276.8 |
1.55 |
1.3 |
26.63 |
26.54 |
and |
307.0 |
308.7 |
1.7 |
1.5 |
41.78 |
37.07 |
LS-20-031 |
297.0 |
301.85 |
4.85 |
4.4 |
5.39 |
|
and |
446.6 |
452.4 |
5.8 |
5.0 |
19.38 |
14.98 |
and |
455.05 |
457.0 |
1.95 |
1.7 |
15.95 |
|
and |
715.4 |
716.0 |
0.6 |
0.5 |
39.12 |
|
and |
757.25 |
758.6 |
1.35 |
1.1 |
69.68 |
48.35 |
LS-20-032 |
264.7 |
268.5 |
3.8 |
3.8 |
5.94 |
|
and |
411.5 |
412.5 |
1.0 |
0.8 |
63.20 |
44.26 |
and |
452.3 |
454.5 |
2.2 |
1.9 |
9.14 |
|
and |
464.0 |
466.0 |
2.0 |
1.6 |
20.24 |
|
LS-20-033 |
123.0 |
127.25 |
4.25 |
3.8 |
58.81 |
26.03 |
and |
193.7 |
208.6 |
14.9 |
13.3 |
14.59 |
7.35 |
LS-20-034M01 |
454.7 |
458.35 |
3.65 |
3.3 |
8.66 |
|
and |
465.05 |
466.2 |
1.15 |
1.0 |
47.29 |
36.95 |
Table 3: Summary of significant
2020 drillhole intersections from the Kokarpinar vein system at the
Efemcukuru Mine. 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) |
TRUETHICKNESS(m) |
Au (g/t) |
Ag (g/t) |
Kokarpinar South |
KV-731 |
206.75 |
210.7 |
3.95 |
3.6 |
2.51 |
27.6 |
and |
278.25 |
282.15 |
2.6 |
2.4 |
22.52 |
22.6 |
KV-733 |
301.7 |
303.95 |
2.25 |
2.0 |
6.19 |
3.8 |
KV-735 |
309.2 |
309.75 |
0.55 |
0.5 |
51.60 |
23.0 |
and |
314.75 |
324.7 |
9.95 |
9.1 |
2.76 |
5.7 |
KV-740 |
339.8 |
343.6 |
3.8 |
2.8 |
3.08 |
5.6 |
KV-743 |
274.65 |
280.95 |
6.3 |
5.8 |
3.69 |
2.0 |
KV-746 |
263.4 |
268.5 |
5.1 |
4.8 |
11.33 |
7.1 |
KV-748 |
301.6 |
306.8 |
5.2 |
4.9 |
2.86 |
4.4 |
KV-737, KV-747, KV-749, KV-750 |
Below reporting threshold |
Kokarpinar Middle |
KV-732 |
235.95 |
239.2 |
3.25 |
2.1 |
32.18 |
28.5 |
KV-738 |
276 |
277.95 |
1.95 |
1.0 |
36.92 |
25.0 |
KV-730; KV-734; KV-736; KV-739; KV-741; KV-742; KV-744;
KV-745 |
Below reporting threshold |
Table 4: Summary of 2020
drillhole assay results from the Stratoni Mine.
HOLE ID |
FROM(m) |
TO(m) |
LENGTH(m) |
TRUETHICKNESS(m) |
Zn(%) |
Pb(%) |
Ag (g/t) |
Comment |
MP0947 |
210.2 |
212.0 |
1.8 |
1.8 |
15.7 |
18.5 |
421.7 |
Upper marble contact lens |
MP0949 |
217.1 |
226.5 |
9.4 |
7.2 |
10.3 |
13.6 |
300.4 |
Upper marble contact lens |
MP0960 |
32.4 |
34.6 |
2.2 |
2.2 |
19.1 |
14.3 |
331.5 |
Upper marble contact lens |
MP0965 |
44 |
45 |
1.0 |
1.0 |
10.7 |
14.4 |
262.0 |
Upper marble contact lens |
and |
103.1 |
104.2 |
1.1 |
1.1 |
16.9 |
11.6 |
268.0 |
Footwall marble lens |
and |
109.1 |
116.3 |
7.2 |
6.5 |
13.6 |
10.4 |
231.1 |
Footwall marble lens |
MP0967 |
51.1 |
56.2 |
5.1 |
4.5 |
3.5 |
4.5 |
99.3 |
Upper marble contact lens |
MP0970 |
52.3 |
53.9 |
1.6 |
1.4 |
6.6 |
4.7 |
104.0 |
Upper marble contact lens |
and |
56.4 |
58.1 |
1.7 |
1.4 |
12.6 |
5.0 |
119.7 |
Footwall marble lens |
and |
69.7 |
72.2 |
2.5 |
2.2 |
22.2 |
8.1 |
210.7 |
Footwall marble lens |
MP0973 |
70.4 |
78.7 |
8.3 |
5.0 |
8.0 |
10.6 |
258.6 |
Mineralized Stratoni fault gouge |
and |
109.1 |
114.8 |
5.7 |
4.0 |
13.1 |
14.5 |
316.6 |
Footwall marble lens |
and |
118.3 |
157.3 |
39.0 |
23.0 |
6.1 |
5.3 |
128.8 |
Footwall marble lens |
MP0976A |
74.2 |
90.9 |
16.7 |
11.8 |
4.6 |
3.4 |
86.9 |
Upper marble contact lens |
and |
133.4 |
143.5 |
10.1 |
7.1 |
7.9 |
1.6 |
38.6 |
Footwall marble lens |
MP0978 |
67.3 |
77.3 |
10.0 |
7.1 |
6.9 |
2.5 |
65.6 |
Mineralized Stratoni fault gouge |
and |
103.0 |
157.9 |
54.9 |
38.8 |
12.5 |
5.0 |
122.8 |
Footwall marble lens |
and |
160.0 |
163.6 |
3.6 |
3.6 |
4.6 |
0.4 |
11.4 |
Footwall marble lens |
MP0980 |
62.6 |
73.6 |
11.0 |
7.7 |
2.9 |
1.6 |
42.4 |
Upper marble contact lens |
and |
78.2 |
79.5 |
1.3 |
1.3 |
3.1 |
2.7 |
59.0 |
Footwall marble lens |
and |
87.5 |
89.5 |
2.0 |
2.0 |
5.2 |
1.3 |
31. |
Footwall marble lens |
MP0943, MP0950, MP0982 |
No significant massive sulfide intercepts |
COVID-19 Update
As COVID-19 cases have surged globally in recent
weeks, Eldorado remains vigilant in enforcing health and safety
protocols at all of its sites with strict tracking and testing
measures in place to protect the health, safety and wellbeing of
its workforce, their families and neighboring
communities.
Operations at the Company’s sites have continued
largely without disruption since the outbreak of COVID-19 earlier
this year.
The Company has recently experienced a
short-term reduction in operations at its Olympias site caused by
limited workforce availability due to COVID-19, and the current
temporary suspension of operations at its Stratoni facility.
The Company is working to mitigate the potential
impact of COVID-19 at all of its sites, including those in Greece,
and undertaking prudent and appropriate health and safety measures
to allow the Company to continue to operate safely and in
observance of government-mandated COVID-19 measures.
About Eldorado Gold
Eldorado is a gold and base metals producer with
mining, development and exploration operations in Turkey, Canada,
Greece, Romania, 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).
Contact
Investor RelationsPeter Lekich,
Manager Investor Relations604.687.4018 or 1.888.353.8166
peter.lekich@eldoradogold.com
MediaLouise Burgess, Director
Communications and Government Relations604.601.6679 or
1.888.363.8166louise.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 are based on half-core samples of diamond drill core.
For Lamaque, drill core samples were prepared and analyzed at
Bourlamaque Laboratories in Val d’Or, Quebec. Drillcore
samples for Efemcukuru were prepared at the Company’s sample
preparation lab in Cannakale, Turkey and analyzed at ALS Minerals
laboratory in Izmir, Turkey. 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 at the Lamaque
project and 10.0 g/t at other projects were re-assayed and
completed with a gravimetric finish. Zn and Pb grades at
Mavres Petres were determined from an aqua regia digestion with an
ICP-AES finish. Certified standard reference materials, field
duplicate and blank samples were inserted regularly and were
closely monitored to ensure the quality of the data.
Cautionary Note about Forward-looking
Statements and Information
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: the duration, extent and
other implications of COVID-19 and any restrictions and suspensions
with respect to our operations; our expectations regarding
establishment of resources through our continued exploration
programs, the timing and quantity of annual gold production; our
strategy with respect to non-core assets;; timing of drilling
activities at the Stratoni mine; mineral reserves and resources,
our guidance and outlook, including expected production and
recoveries of gold, planned capital and exploration expenditures;
our expectation as to our future financial and operating
performance, expected metallurgical recoveries, gold price outlook;
and our strategy, plans and goals, including our proposed
exploration, development, construction, permitting and operating
plans and priorities, including 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: how the world-wide economic and social impact of COVID-19 is
managed and the duration and extent of the impact of the COVID-19
pandemic on our operations, the results of our exploration
programs,; mineral reserves and resources and metallurgical
recoveries, the geopolitical, economic, permitting and legal
climate that we operate in; the future price of gold and other
commodities; the global concentrate market; exchange rates;
anticipated costs and expenses; production, the impact of
acquisitions, dispositions, suspensions or delays on our business
and the ability to achieve our goals. In particular, except
where otherwise stated, we have assumed a continuation of existing
business operations on substantially the same basis as exists at
the time of this release.
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: global outbreaks of infectious diseases,
including COVID-19; timing and cost of construction, geopolitical
and economic climate (global and local), risks related to the
updating of our resource and reserve models and life of mine plans;
mineral tenure and permits; gold and other commodity price
volatility; information technology systems risks; continued
softening of the global concentrate market, recoveries of gold and
other metals; results of test work; revised guidance; risks
regarding potential and pending litigation and arbitration
proceedings relating to the Company’s, business, properties and
operations; expected impact on reserves and the carrying value;
mining operational and development risk; financing risks; foreign
country operational risks; risks of sovereign investment;
regulatory risks and liabilities including, regulatory environment
and restrictions, and environmental regulatory restrictions and
liability; discrepancies between actual and estimated production,
mineral reserves and resources and metallurgical testing and
recoveries; additional funding requirements; currency fluctuations;
community and non-governmental organization actions; speculative
nature of gold exploration; dilution; share price volatility and
the price of our common shares; competition; loss of key employees;
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 and EDGAR under our Company name, which discussion is
incorporated by reference in this release, 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 and you are referred to the full
discussion of the Company's business contained in the Company's
reports filed with the securities regulatory authorities in Canada
and the U.S.
Appendix 1: Collar locations
and orientations and total lengths for drillholes listed in this
news release
HOLE ID |
EASTING |
NORTHING |
ELEVATION |
AZIMUTH |
DIP |
LENGTH (m) |
Underground/ |
Surface |
Lamaque Triangle Deposit |
TM-16-191W02 |
296827 |
5328214 |
324 |
2 |
-63 |
1437 |
Surface |
TM-16-220W06M03 |
296728 |
5328264 |
323 |
356 |
-68 |
1659 |
Surface |
TM-16-220W07 |
296728 |
5328264 |
323 |
356 |
-68 |
1727 |
Surface |
TM-18-321AW06 |
296826 |
5328214 |
324 |
351 |
-76 |
1598 |
Surface |
TM-18-321AW07 |
296826 |
5328214 |
324 |
351 |
-76 |
1694 |
Surface |
TM-19-329 |
296269 |
5328205 |
324 |
3 |
-63 |
1277 |
Surface |
TM-19-329W01 |
296269 |
5328205 |
324 |
3 |
-63 |
1360 |
Surface |
TM-19-329W02 |
296269 |
5328205 |
324 |
3 |
-63 |
1423 |
Surface |
TM-19-329W05 |
296269 |
5328205 |
324 |
3 |
-63 |
1389 |
Surface |
TM-19-330 |
296667 |
5328241 |
323 |
357 |
-70 |
1616 |
Surface |
TM-19-330W01 |
296667 |
5328241 |
323 |
357 |
-70 |
2096 |
Surface |
TM-20-331A |
297019 |
5328248 |
324 |
5 |
-68 |
1282 |
Surface |
TM-20-332 |
296880 |
5328191 |
324 |
4 |
-67 |
1310 |
Surface |
TM-20-333A |
296863 |
5327992 |
325 |
2 |
-72 |
1648 |
Surface |
TM-20-333AW01 |
296863 |
5327992 |
325 |
2 |
-72 |
1705 |
Surface |
TM-20-334A |
296920 |
5328180 |
324 |
1 |
-74 |
601 |
Surface |
TM-20-334AM01 |
296920 |
5328180 |
324 |
1 |
-74 |
1454 |
Surface |
TU-0184-022 |
296536 |
5328357 |
143 |
1 |
-57 |
1009 |
Underground |
TU-0184-023 |
296537 |
5328356 |
143 |
15 |
-56 |
990 |
Underground |
TU-0184-024 |
296537 |
5328356 |
143 |
21 |
-52 |
980 |
Underground |
TU-0325-094 |
296563 |
5328300 |
1 |
17 |
-63 |
1144 |
Underground |
TU-0325-095 |
296563 |
5328300 |
1 |
18 |
-71 |
1042 |
Underground |
Lamaque Ormaque
Zone |
LS-19-015 |
295723 |
5330010 |
324 |
358 |
-58 |
658 |
Surface |
LS-19-017A |
295681 |
5329973 |
324 |
358 |
-57 |
778 |
Surface |
LS-19-018A |
295643 |
5330151 |
325 |
358 |
-57 |
563 |
Surface |
LS-19-019 |
295770 |
5330070 |
324 |
359 |
-57 |
692 |
Surface |
LS-19-020 |
295642 |
5330249 |
325 |
4 |
-50 |
529 |
Surface |
LS-19-021 |
295770 |
5329967 |
324 |
358 |
-59 |
754 |
Surface |
LS-19-023 |
295682 |
5330075 |
324 |
359 |
-56 |
644 |
Surface |
LS-20-024 |
295725 |
5329920 |
324 |
357 |
-60 |
661 |
Surface |
LS-20-026 |
295558 |
5330030 |
325 |
358 |
-57 |
775 |
Surface |
LS-20-027 |
295665 |
5330110 |
324 |
358 |
-58 |
679 |
Surface |
LS-20-028 |
295747 |
5329967 |
324 |
358 |
-59 |
752 |
Surface |
LS-20-029 |
295610 |
5330110 |
324 |
358 |
-58 |
724 |
Surface |
LS-20-030 |
295725 |
5330070 |
324 |
358 |
-57 |
321 |
Surface |
LS-20-030A |
295725 |
5330070 |
324 |
358 |
-55 |
688 |
Surface |
LS-20-031 |
295811 |
5329967 |
323 |
359 |
-60 |
845 |
Surface |
LS-20-032 |
295850 |
5330020 |
324 |
356 |
-57 |
727 |
Surface |
LS-20-033 |
295850 |
5330130 |
324 |
356 |
-57 |
470 |
Surface |
LS-20-034M01 |
295868 |
5329940 |
324 |
355 |
-64 |
1010 |
Surface |
Efemcukuru Kokarpinar |
KV-730 |
498542 |
4238767 |
720 |
165 |
-67 |
300 |
Surface |
KV-731 |
498902 |
4238527 |
817 |
188 |
-57 |
295 |
Surface |
KV-732 |
498540 |
4238768 |
720 |
213 |
-70 |
269 |
Surface |
KV-733 |
498903 |
4238530 |
817 |
175 |
-64 |
314 |
Surface |
KV-734 |
498541 |
4238768 |
720 |
169 |
-54 |
344 |
Surface |
KV-735 |
498902 |
4238530 |
817 |
182 |
-72 |
341 |
Surface |
KV-736 |
498542 |
4238769 |
720 |
148 |
-68 |
383 |
Surface |
KV-737 |
498905 |
4238530 |
817 |
225 |
-78 |
359 |
Surface |
KV-738 |
498544 |
4238765 |
720 |
249 |
-71 |
304 |
Surface |
KV-739 |
498544 |
4238765 |
721 |
231 |
-65 |
254 |
Surface |
KV-740 |
498904 |
4238530 |
817 |
169 |
-77 |
365 |
Surface |
KV-741 |
498340 |
4239052 |
586 |
175 |
-68 |
309 |
Surface |
KV-742 |
498340 |
4239051 |
586 |
173 |
-49 |
304 |
Surface |
KV-743 |
498903 |
4238527 |
817 |
184 |
-50 |
301 |
Surface |
KV-744 |
498339 |
4239052 |
586 |
183 |
-38 |
276 |
Surface |
KV-745 |
498574 |
4238985 |
617 |
228 |
-30 |
362 |
Surface |
KV-746 |
498902 |
4238529 |
817 |
193 |
-48 |
291 |
Surface |
KV-747 |
498902 |
4238529 |
817 |
312 |
-66 |
210 |
Surface |
KV-748 |
499162 |
4238569 |
749 |
317 |
-48 |
190 |
Surface |
KV-749 |
498902 |
4238527 |
817 |
308 |
-40 |
193 |
Surface |
KV-750 |
499162 |
4238570 |
749 |
322 |
-42 |
193 |
Surface |
Stratoni |
MP0943 |
24906 |
-24970 |
236 |
137 |
-73 |
190 |
Underground |
MP0947 |
24905 |
-24970 |
237 |
88 |
-75 |
213 |
Underground |
MP0949 |
24906 |
-24970 |
236 |
125 |
-78 |
339 |
Underground |
MP0950 |
24906 |
-24969 |
236 |
92 |
-85 |
315 |
Underground |
MP0960 |
24980 |
-25007 |
51 |
309 |
-65 |
126 |
Underground |
MP0965 |
24980 |
-25008 |
52 |
238 |
-72 |
158 |
Underground |
MP0967 |
24980 |
-25009 |
51 |
189 |
-71 |
156 |
Underground |
MP0970 |
24982 |
-25009 |
52 |
151 |
-64 |
145 |
Underground |
MP0973 |
24980 |
-25009 |
52 |
211 |
-60 |
196 |
Underground |
MP0976A |
24981 |
-25009 |
51 |
175 |
-57 |
176 |
Underground |
MP0978 |
24980 |
-25008 |
52 |
230 |
-55 |
195 |
Underground |
MP0980 |
24982 |
-25008 |
51 |
132 |
-50 |
154 |
Underground |
MP0982 |
24982 |
-25008 |
52 |
110 |
-57 |
116 |
Underground |
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