Eldorado Gold announced results of a new mineral resource estimate for our Kisladag Mine. The new resource estimate demonstrates a 32 percent increase in measured and indicated contained ounces relative to the 2008 year-end estimate. The resource consist of 416.4 million tonnes of Measured and Indicated resources at a grade 0.78 g/t gold containing 10.4 million oz gold. The 2009 Kisladag mineral resource is reported at a 0.3 g/t Au cut-off grade and calculated to end of third quarter 2009 mining limits.
Eldorado Gold announced results from our exploration program at the Kisladag Mine in Turkey. The 13 diamond drill hole program focused on testing the extent of higher grade gold mineralization below the current pit design limits and evaluating potential for deep mineralization in the eastern portion of the deposit. Highlighted results from the first 11 drill holes include from GC-353 with 260.0m at 1.09g/t Au from 187.5m downhole, in Hole GC-355 returned 1.36g/t Au over 110.0m from 507.5m and in GC-361 intersected 245.0m at 0.92g/t Au from 500.0m.
Reported exploration drilling during the year will focus on 3 targets with planned 5,000m of drilling. Further determination of shallow oxide gold mineralization around intrusion 2A and testing at depth in the east and north east portion of the deposits (numerous holes in this region ended in +1 g/t gold). In addition, limits of the new zone discovered at depth in the southeastern sector of the deposit. Hole # GC-324 hit 131m averaging 1.05 g/t Au in an area previously interpreted as waste.
