Mr. Peter Lewis reports
ELDORADO GOLD PROVIDES LAMAQUE EXPLORATION AND DEVELOPMENT UPDATE
Eldorado Gold Corp. has provided an update on its exploration programs and construction progress at the Lamaque project in Quebec. Mill refurbishment and underground mine development are ahead of schedule, and production from the refurbished mill remains on track for 2019. Exploration results include over 12,000 metres of resource expansion drilling received since the year-end 2017 resource update.
Exploration highlights
Drilling subsequent to year-end focused on the lower part of the Triangle deposit, as well as targets along strike and downdip from the Parallel deposit. Highlights include:
-
Delineation of new mineralized zones C8, C9 and C10 at Triangle, with intercepts as high as 2.8 metres at 125.45 grams per tonne gold (C6 secondary splay) and 1.8 metres at 873.96 g/t Au (C8 secondary splay). These new zones are not included in the 2017 resource estimate.
- Intercepts of 3.4 metres at 7.47 g/t Au and 4.3 metres at 7.68 g/t Au at C7 at Triangle represent stepouts of 100 metres and 150 metres, respectively, from nearest previous intercepts.
- A stepout intercept of 3.5 metres at 27.62 g/t Au at the Parallel deposit was 125 metres downdip from the nearest previous intercepts. Stepout drilling has linked the mineralized shear zones with historically mined zones at nearby Lamaque and Plug 5 deposits.
"Results from this year's exploration drilling continue to demonstrate the outstanding resource upside potential of the Lamaque project," said Peter Lewis, Eldorado's vice-president, exploration.
"Our new drilling at Triangle confirms that the shear-hosted vein systems and steeply plunging intrusions that control mineralization in the upper deposit persist to at least 1,800 metres depth, with high grades reported in several newly identified shear zones and in related secondary shear zones and extension vein systems. At the Parallel deposit, stepout drilling has linked the mineralized shear zones with historically mined zones at the nearby Lamaque and Plug 5 deposits.
"We have approximately 10,000 additional metres of drilling planned for this year focused on resource expansion in the lower Triangle deposit, and further testing and definition of new targets. An additional 10,000 to 12,000 metres of underground resource conversion drilling will target the 686,000 inferred ounces defined in the C4 and C5 zones. Drilling access will also be available from the newly constructed and dedicated drilling platforms on the 166 and 184 levels of the Triangle underground."
Development highlights
The Lamaque project remains on schedule to enter commercial production in early 2019. There are currently over 250 workers on site with the head count expected to increase by 20 per cent over the next six months.
Progress to date underground includes:
- Approximately 8,500 metres of total development, which is ahead of plan;
- Development rates averaging over 20 metres per day;
- Main ramp now at a depth of about 240 metres below surface;
- Ore processed through a nearby toll mill, with recovery and reconciliation consistent with the company's internal life-of-mine model.
Refurbishment work on the Sigma mill continues to ramp up, including:
- Replacement and refurbishment of the CIP (carbon-in-pulp) tanks;
- Refurbishment of the main mill motors;
- Procurement of new electrical switchgear;
- Installation of the process control system has commenced in anticipation of a staged start-up.
The projected 2,200-tonne-per-day capacity of the refurbished Sigma process plant provides excess milling capacity over what is required for the initial production from the Triangle deposit. The focus is to increase mill production from other sources within and nearby the project area. Mill capacity can be further increased (up to 5,000 tonnes per day) through the installation of an additional grinding mill.
Recent exploration results
Lower Triangle deposit
The 2017 resource for the Triangle deposit included 1.06 million ounces of gold in the measured and indicated categories in the C1, C2 and upper part of the C4 mineralized zones, and 1.11 million ounces of gold in the inferred category mainly in the lower C4, C5 and C7 mineralized zones, based on a 2.5-gram-per-tonne-gold-cut-off grade. Drilling completed since the 2017 resource estimate has targeted the lower Triangle deposit below the C4 zone.
The drilling has defined new mineralized shear zones referred to as C8, C9 and C10, as well as secondary shears related to these zones and to the structurally higher C6 and C7 zones. To date, C7 and C10 are the most strongly developed zones in terms of deformation intensity and displacement magnitude, and display the best continuity of mineralization. Zones C6, C8 and C9, as well as secondary shear zones associated with them, also contain high gold grades, with best intercepts concentrated peripheral to intersections of the shear zones with dike contacts.
C7 zone
Current inferred resources for the C7 zone total 116,000 ounces at an average grade of 6.7 g/t, based on drill holes that tested an area measuring approximately 400 metres by 400 metres. Recent stepout drilling included intercepts of:
- TM-18-321A: 3.4 metres at 7.47 g/t Au at a distance of over 150 metres outside of the inferred resource;
- TM-15-038W02: 4.3 metres at 7.68 g/t Au.
The limited drilling completed to date on C7 suggests that best grades and thicknesses are aligned in two nearly orthogonal shoot orientations, similar to the pattern of grade distribution in the upper zones of the Triangle deposit. These shoots are open in multiple directions, defining priority targets to further expand resources.
C10 zone
The newly defined C10 zone forms a shear zone system consisting of multiple anastomosing splays within a broader deformation zone up to 30 metres wide. It dips approximately 65 degrees to 75 degrees to the south, slightly steeper than the upper shear zones of the Triangle deposit. High gold grades have been identified within the C10 zone over an area measuring approximately 400 metres along strike by 200 metres vertically, and define a mineralized trend that remains open downdip and along strike to the east. Significant gold intercepts within C10 include:
-
TM-15-032W04: 2.7 metres at 16.17 g/t Au;
- TM-18-321AW01M01: 5.5 metres at 8.16 g/t Au;
- TM-15-008W01M01: 8.1 metres at 7.70 g/t Au;
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TM-15-032W03: 6.1 metres at 3.60 g/t Au;
- TM-15-006: 4.8 metres at 8.05 g/t Au.
Other lower zones at Triangle
New high-grade drill hole intercepts from the C6, C8 and C9 zones, and their associated secondary splays are mainly localized within an area near where these shear zones cut a southern branch of the Triangle intrusive system. Together, these define a steeply dipping zone prospective for high-grade mineralization that is similar to overall controls in the upper Triangle deposit. Examples of significant intercepts from this zone include:
- TM-15-032-W03: 9.30 metres at 8.99 g/t Au (C6);
- TM-15-038-W02: 2.8 metres at 125.45 g/t Au (C6 secondary splay);
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TM-15-032-W03: 18.2 metres at 8.05 g/t Au (C8);
- TM-15-006-W01M01: 4.5 metres at 29.28 g/t Au (C8 secondary splay);
- TM-15-032-W04: 1.8 metres at 873.96 g/t Au (C8 secondary splay).
Parallel-Plug 5 corridor
The Parallel deposit contains indicated resources of 70,000 ounces at a grade of 9.92 grams per tonne gold and additional inferred resources of 57,000 ounces at a grade of 8.7 g/t Au. Approximately 80 per cent of these resources occur within a series of four stacked south-dipping shear veins, which together define a tabular mineralized zone with a strike length of at least 300 metres and a dip extent of 250 metres. These shear zones project westward along strike and are correlated with historically mined veins at the Lamaque mine. The 400-metre gap between these deposits has only been sparsely drill tested. To the east, the same shear vein system correlates with mineralized shear zones in the upper part of the Plug 5 deposit. Together, these systems define a south-dipping mineralized corridor that extends over at least two kilometres strike length but remains open and mostly untested to the east.
New drilling along this mineralized trend includes 11 drill holes targeting potential downdip extensions to the Parallel deposit, and untested areas to the south of the Plug 5 deposit. Notable results include:
- Intersections of 0.7 metre at 38.39 g/t Au and 0.8 metre at 86.5 g/t Au in drill hole PV-18-27, from the downdip continuation of the uppermost shear vein at the Parallel deposit. This intersection is a 125-metre stepout from the nearest drill hole and highlights the potential for additional high-grade resources at the deposit.
- An intersection of 4.3 metres at 5.25 g/t Au in drill hole PV-18-029, located to the south of Plug 5 and 200 metres along strike to the east of the Parallel deposit. This intersection is hosted by a shear zone that was mined historically updip in the Plug 5 deposit, and also correlates with a lower shear zone defined at the Parallel deposit.
About
Eldorado
Gold
Corp.
Eldorado is a gold and base metal producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia, Canada and Brazil. The company has a highly skilled and dedicated work force, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities.
Qualified persons
Dr. Peter Lewis, PGeo, Eldorado's vice-president, exploration, is the qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects) responsible for, and has approved the scientific and technical disclosure 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 analyzed at accredited laboratories. Drill core from the Lamaque project was prepared and analyzed at Bourlamaque Laboratories in Val d'Or, Que. All Au assays are based on fire assay analysis of a 30-gram charge followed by an atomic adsorption finish. Samples with Au grades above 5.0 g/t were reassayed and completed with a gravimetric finish.
Dr. Stephen Juras, PGeo, Eldorado's director of technical services, is the qualified person as defined by NI 43-101 responsible for, and has approved the disclosure of mineral resources in, this news release. Mineral resources reported in this press release were previously disclosed in the
Lamaque technical report with an effective date of March 21, 2018, which was prepared by the following qualified persons as defined by NI 43-101: Mr. Juras, Colm Keogh, PEng, Jacques Simoneau, PGeo, Francois Chabot, PEng, and Marianne Utiger, PEng. For further details, the reader should refer to the Lamaque technical report, which may be found
on the company's website or under the company's SEDAR profile.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. With respect to indicated mineral resource and inferred mineral resource, there is a great amount of uncertainty as to their existence and a great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of a measured mineral resource, indicated mineral resource or inferred mineral resource will ever be upgraded to a higher category.
Tables of drill hole intercepts
The attached table lists selected results from resource expansion drill holes at the Triangle deposit and within the Parallel-Plug 5 corridor completed since Nov. 13, 2017, for which full assay results have been reported and verified. Intercepts reported are limited to those with (1) Au grade (g/t) times true thickness (metres) values greater than 15.0, and (2) average Au grade greater than 2.5 g/t.
LOWER TRIANGLE DEPOSIT DRILLING RESULTS
Hole ID From To Interval True thickness Au
(m) (m) (m) (m) (g/t)
TM-15-006 1,517.40 1,530.75 13.35 12.07 4.21
and 1656.8 1,662.7 5.9 5.34 6.80
and 1668.6 1,671.6 3.0 2.71 6.20
and 1,778.85 1,779.4 0.55 0.49 63.38
and 1,794.60 1,795.6 1.0 0.90 26.11
and 1,855.7 1,860.5 4.8 2.61 8.05
and 1,897 1,904.9 7.9 7.07 2.85
TM-15-006 W01M01 1,332.9 1,337.4 4.5 3.88 29.28
and 1,447.4 1,453.2 5.8 5.63 2.78
and 1,542.8 1,547.1 4.3 3.70 5.19
and 1,650.7 1,656.8 6.1 3.81 4.76
and 1,696.6 1,697.3 0.7 0.60 48.35
and 1,734.7 1,735.2 0.5 0.43 34.92
TM-15-008 W01M01 1,211.0 1,214.1 3.1 2.83 5.99
and 1,801.5 1,809.6 8.1 4.30 7.70
TM-15-008W02 1,702.00 1,705.1 3.10 2.07 10.83
TM-15-032W02 923.5 926.7 3.20 2.16 13.70
and 1,136.0 1,145.3 9.30 6.88 8.99
including 1,142.4 1,145.3 2.90 19.24
and 1,953.6 1,954.8 1.2 1.06 12.68
and 2,181.5 2,185.5 4 3.44 4.50
TM-15-032W03 1,132.0 1,134.7 2.70 2.10 9.17
and 1,137.5 1,142.0 4.50 3.20 9.07
and 1,262.5 1,264.0 1.50 1.36 38.92
and 1,446.8 1,465.0 18.20 14.65 8.05
and 1,525.9 1,532.9 7.00 5.25 10.84
and 1,888.4 1,894.5 6.10 3.85 3.60
TM-15-032W04 1,434.2 1,436.2 2.0 1.80 8.58
and 1,446.8 1,459.0 12.20 10.03 10.96
including 1,455.8 1,457 1.2 24.23
and 1,595.3 1,597.1 1.8 1.50 873.96
including 1,595.85 1,596.55 0.7 2246.4
and 1,622.1 1,625.9 3.8 2.89 10.24
including 1,622.1 1,622.6 0.5 75.21
and 1,681 1,686.9 5.9 4.89 17.53
including 1,681 1,682.2 1.2 44.34
and 1,690.1 1,693 2.9 2.40 10.14
and 1,793.3 1,796.0 2.7 2.09 16.17
and 1,870.8 1,875.9 5.1 4.05 9.17
including 1,873 1,873.5 0.5 81.25
and 1,989.6 1999 9.4 7.28 2.66
TM-15-038W01 966.70 969.75 3.05 2.60 7.48
and 1,256.6 1,259.1 2.5 2.21 6.63
TM-15-038W02 1,139 1,143.9 4.9 3.83 6.96
and 1,185.5 1,188.3 2.8 2.66 125.45
including 1,186.8 1,188.3 1.5 233.05
and 1,268.6 1,272.9 4.3 3.72 7.68
and 1,293.2 1,298.0 4.8 3.70 3.55
TM-17-309AM01 722.7 725.0 2.3 2.30 9.42
and 764.0 766.1 2.1 2.02 14.04
TM-17-310M03 758.0 760.3 2.3 2.06 29.49
TM-17-311BW01M02 757.3 759.4 2.1 1.98 10.13
TM-17-318M01 772.6 775.4 2.8 2.80 26.28
TM-17-320 55.3 57.3 2.2 2.13 31.86
TM-18-321A 1,286.5 1,303.7 17.2 15.91 5.68
and 1,477.0 1,480.4 3.4 2.42 7.47
and 1,854.2 1,855.6 1.4 1.33 15.28
TM-18-321A W01M01 1,281.75 1,287.6 5.85 5.50 4.04
and 1,877.5 1,880.7 3.2 2.60 6.45
and 1,887.5 1,893 5.5 4.26 8.16
and 2,072.6 2,079 6.4 5.13 3.30
PARALLEL-PLUG 5 CORRIDOR DRILLING RESULTS
Hole ID From To Interval True thickness Au
(m) (m) (m) (m) (g/t)
PV-18-027 305.0 308.5 3.5 3.40 27.62
including 305.0 305.7 0.7 38.39
and 307.7 308.5 0.8 86.5
PV-18-029 257.0 261.3 4.3 5.25
SO-18-009 695.0 698.5 3.5 3.45 1.80
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