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Entrée Resources Files NI 43-101 Technical Report for its Interest in the Entrée/Oyu Tolgoi Joint Venture Property
VANCOUVER, Feb. 28, 2018 /CNW/ - Entrée Resources Ltd. (TSX:ETG; NYSE American:EGI – the "Company" or "Entrée") is pleased to announce that it has today filed a
About this update from Entree Resources Ltd
[{"type":"text","content":"VANCOUVER, Feb. 28, 2018 /CNW/ - Entrée Resources Ltd. (TSX:ETG; NYSE American:EGI – the \"Company\" or \"Entrée\") is pleased to announce that it has today filed a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (\"NI 43-101\") technical report (\"Report\") titled \"Entrée/Oyu Tolgoi Joint Venture Project, Mongolia, NI 43-101 Technical Report\" on its interest in the Entrée/Oyu Tolgoi joint venture property in Mongolia. The Report has an effective date of January 15, 2018 and is available on SEDAR at www.sedar.com and on the Company's website. The Report relates to the press release announced by the Company on January 15, 2018. The Report discusses two development scenarios, an updated reserve case (\"2018 Reserve Case\") and a Life-of-Mine Preliminary Economic Assessment (\"2018 PEA\"). The 2018 Reserve Case is based only on mineral reserves attributable to the Entrée/Oyu Tolgoi joint venture from the first lift (\"Lift 1\") of the Hugo North Extension (\"HNE\") underground block cave. The 2018 PEA is an alternative development scenario completed at a conceptual level that assesses the inclusion of mineral resources from the second lift (\"Lift 2\") at HNE and the Heruga deposit into an overall mine plan with mineral resources from HNE Lift 1. Mr. Stephen Scott, President and CEO of Entrée, comments, \"I am very excited that Entrée's stakeholders can now assess and appreciate the life-of-mine potential of Entrée's joint venture interest. The 2018 PEA demonstrates that Entrée's interest is multi-generational, with potential to deliver over US$2.1 billion dollars in undiscounted pre-tax cash flows just from Hugo North Extension Lifts 1 and 2 over the first 33 years of production. Post-tax, this equates to a net present value (\"NPV8%\") of US$277 million*. The 2018 PEA also brings resources from Heruga into the mine plan, but these are not scheduled to be mined until much later in the life of the Oyu Tolgoi project. Although the Heruga deposit provides considerable flexibility for future mine planning and development options, additional technical work is needed to establish the mineral resources and costs with greater certainty and to enable investors to better understand the true value of the Heruga deposit. Right now, the schedule outlined in the Report shows the 2018...