Eldorado Gold Provides an Update on 2017 Exploration Programs
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NEWS RELEASE
TSX: ELD NYSE: EGO November 13, 2017
Eldorado Gold Provides an Update on 2017 Exploration Programs
VANCOUVER, BC - Eldorado Gold Corporation ("Eldorado" or the "Company") is pleased to provide an update
on the Company’s exploration activities completed to date in 2017. Highlights from the period include:
• Lamaque resource upgrade and resource expansion drilling: over 31,000 metres of drilling at the
Triangle deposit completed since the July acquisition of Integra Gold Corporation (“Integra”). Drilling
has affirmed the quality of the current resource and highlights the upside potential of the Lamaque
project, including intercepts from the C7 zone of 25.44 grams per tonne (g/t) Au over 3.5 metres and
7.47 g/t Au over 4.4 metres.
• Completion of the year-one drilling program at Bolcana, Romania: results of over 23,000 metres at
our new Bolcana porphyry project confirm the size and potential of the system, as highlighted by
drillhole TRSD013 which featured an intercept of 1 ,246.0 metres from surface grading 0.94 g/t Au
and 0.27% Cu.
• Resource conversion drilling at Efemcukuru: infill drilling of inferred resources in the Kestane Beleni
vein continues to intersect ore grades and widths, while exploration drilling at the nearby Kokarpinar
vein has identified a new high-grade shoot.
• Exploration development and underground resource expansion drilli ng at the Stratoni Mine :
Development of the hangingwall exploration drift continues, and completion of over 4,500 metres
of underground drilling confirms the continuation of the Mavres Petres orebody into previously
untested areas.
Peter Lewis, Eldorado’s Vice President, Exploration stated, “The results to date from the 2017 exploration
programs reflect the quality of both our brownfields programs and new projects, and bode well for extending
the life of our current operations while strengthening our inter nal growth pipeline. We are particularly
pleased by the strong results from the Lamaque project, where we have identified high-grade vein intercepts
outside of the previously defined resources, and we look forward to expanding our exploration programs to
new targets on the property.”
Presented below are p roject updates for several of the principal 2017 exploration programs . Summary
tables of drillhole intercepts from these programs are included in Appendix 1, including estimates of true
thicknesses of mineralized zones and cuts of high-grade assays where appropriate.
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Lamaque Project, Canada
On July 10, 2017, Eldorado completed the acquisition of Integra and its flagship Lamaque project in Val d’Or,
Quebec. Eldorado continued the 2017 drilling program initiated by Integra with over 80,000 metres drilled
year to date on the Triangle deposit, Plug 4, and Lamaque deep targets.
Six surface drill rigs are currently active at the Triangle deposit, where we have drilled over 31,000 metres
since July. A majority of the drilling consisted of resource conversion holes targeting the upper parts of the
C2 and C4 zones, and definition dr illholes within the C2 bulk sample area. To date, the C2 bulk sample
program has included development on four levels (Figure 1) from which 20,992 tonnes have been processed
at the Camflo mill. The definition drilling, underground mapping of the C2 zone, and average head grade for
the processed material (7.10 g/t Au) al l confirm the validity of the geological and resource models . Au
recovery from the processed material has been 95.52%.
Figure 1: Longitudinal section of the C2 vein at Lamaque, showing bulk sample program area and current
extent of underground development.
The remaining resource expansion holes targeted extensions of the main C zones and their splays. This
drilling has locally expanded the limits of the C2, C4, and C5 zones and both ex tended and confirmed the
continuity of high -grade splays associated with the main C zones. These zones were not included in the
previous Integra resource model.
Notable intercepts of these splays include:
- 9.57 g/t Au over 7.14 metres true thickness in hole TM-16-180AW03M01 (C3 splay)
- 7.30 g/t Au over 4.56 metres true thickness in hole TM-16-114BW01M02 (C4 splay)
- 8.08 g/t Au (capped at 30 g/t Au) over 4.62 metres true thickness in hole TM-16-180AW02 (C4 splay).
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At deeper levels, new intercepts correlated with the C5, C6, C7, and previously unrecognized deeper zones
demonstrate the significant upside potential of the Triangle deposit beyond the existing resource areas.
Examples include:
- 11.83 g/t Au (capped at 30 g/t Au) over 3.50 metres true thickness in hole TM-15-037W02M02 (C7)
- 7.77 g/t Au (capped at 30 g/t Au) over 6.88 metres true thickness in hole TM-15-032W02 (C6)
- 10.62 g/t Au (capped at 30 g/t Au) over 6.02 metres true thickness in hole TM-15-032 (C6 Splay)
- 7.49 g/t Au over 7.10 metres true thickness in hole TM-15-032W01M03 (new zone)
Drilling is now shifting to focus on other targets within the Lamaque project area. The Company expects to
drill approximately 15,000 metres for the remainder of the year.
Figure 2: Cross section 296575E through the Triangle deposit showing partial results of new drilling
targeting the C7 zone and deeper mineralized shear zones. Thickness shown are drillhole intercept lengths;
individual assay grades are capped at 30 g/t Au.
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Bolcana Project, Romania
The Company’s new Bolcana project is a large copper gold porphyry system located approximately six
kilometres west of our Certej epithermal deposit development project in Romania. The 2017 exploration
program at Bolcana totaled over 23,000 metres of drilling in 25 holes, and tested an area measuring 1,200
metres by 900 metres, locally to a depth of more than 1,200 metres (Figure 3 and 4).
Results from the 2017 drilling outline a large gold-rich porphyry system centered on a calc-alkaline intrusive
complex. Elevated gold and copper values are associated with chalcopyrite and bornite within diorite
porphyry intrusions and associated magmatic -hydrothermal breccias. Mineralization is continuous to the
depth extent of drilling, with highest grades found in shallow residual potassic zones and in a deeper high -
grade potassic core (Figure 4). Drillhole TRSD013, which tested the central core of the system, intersected
1,246 metres from near surface with an average grade of 0.94 g/t Au and 0.27% Cu. This includes a shallow
high-grade zone of 200.0 metres grading 1.43 g/t Au and 0.3% Cu and a deeper zone of 206.0 metres grading
1.55 g/t Au and 0.35% Cu. In addition, high grades have been intersected in a second shallow zone referred
to as the south zone located approximately 200 metres south of the central zone (Figure 3) where drillhole
TRSD017 intersected 132. 0 metres grading 1.88 g/t Au and 0.34% Cu . The 2017 program was recently
concluded and results are being evaluated to define future exploration plans for the project.
Figure 3: Map of the Bolcana gold-copper porphyry project area showing reduced-to-pole magnetic
signature overlain by projected traces of 2017 drillholes and mineralized intervals reported in this release.
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Figure 4: Representative cross section through the central zone of the Bolcana gold porphyry project
showing 2017 drillholes and mineralized intervals reported in this release. Section location is indicated on
Figure 3; section thickness is 200 metres.
Efemcukuru Mine, Turkey
At the Efemcukuru epithermal vein deposit, drilling in 2017 included 15,700 metres of resource conversion
drilling on the Kestane Beleni vein and an additional 4,000 metres testing exploration targets in the nearby
Kokarpinar vein system (Figure 5 ). Most of the resource conversion drilling at Kestane Beleni has utilized
drill stations in the new Kestane Beleni hangingwall exploration drift and has targeted inferred resources
downdip from the current production levels in the South Ore Shoot and in the transition zone between South
and Middle Ore S hoots. Notable results from this program include high -grade intercepts in the South to
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Middle Ore S hoots transition zone, with 8.77 g/t Au over 12.65 metres (EF -2703) and 8.19 g/t Au over
8.31 metres true thickness (EF-2614) (Figure 6).
Surface drilling at the Kestane Beleni northwest zone has infilled areas previously drilled at a wide spacin g,
reducing drillhole spacing to approximately 50 metres over most of the mineralized zone. Although the vein
is narrower here than in the South and Middle Ore Shoots, intercept grades commonly equal or exceed those
in the current resource model (Figure 7 ). New drilling has defined two distinct trends of high grade ore
shoots, with significant intercepts of 19.48 g/t Au over 4.32 metres (EF -024) and 173.5 g/t Au over
1.4 metres true thickness (EF-033).
At Kokarpinar, exploration drilling in this year’s program is testing the northern part of the vein system where
complex splays and limited drill site availability had hampered previous drill testing. Nineteen holes were
completed, three of which define a new high -grade shoot with intercept grades of up to 29.0 g/t Au over
1.2 metres true thickness. Step-out drilling is currently in progress testing the down-plunge extension of this
shoot.
In addition, a 21.2 kilometre induced polarization survey was completed over the Efem cukuru license area
in August, with the objective of identifying blind drill targets in the footwall to the Kestane Beleni vein.
Results are currently being evaluated, with drilling of new targets scheduled for 2018.
Figure 5: Geological map of the Efemcukuru project area showing locations of 2017 drilling programs.
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Figure 6: Longitudinal section of the Kestane Beleni vein at Efemcukuru showing contoured gold grade
times true thickness and piercing points for 2017 resource conversion drillholes.
Figure 7: Longitudinal section of the Kestane Beleni Northwest vein at Efemcukuru showing contoured gold
grade times thickness and piercing points for 2017 exploration drillholes.
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Stratoni Mine, Greece
The Stratoni deposit is a high -grade carbonate replacement deposit consisting of massive sulfide lenses
occurring within and adjacent to the Stratoni fault zone. The Company is currently developing an exploration
drift in the hangingwall to the fault zone that provides platforms for drilling untested areas downdip of and
along strike to the west of the known orebody. Year to -date, 22 underground drillholes have been
completed from the new development, which included seven resource conversion holes targeti ng existing
inferred resources. Most of these holes intersected ore thicknesses equal to or greater than those predicted
by the resource model, with high silver and base metal values. Resource expansion drilling to date has tested
an area measuring approximately 100 metres by 100 metres downdip of the deposit. Nine of the 15 holes
in this area intersected massive sulphide intervals comparable to those in the main orebody. Two drill rigs
are currently active at the project testing additional stepouts to the deposit.
KMC Project, Serbia
During 2017, a t the Karavansalija Mineralized Center (KMC) project, approximately 18, 500 metres of
diamond drilling have been completed at the Shanac, Copper Canyon, Grad ina, and Medenovac prospects.
The Shanac prospect is a large magnetite skarn system discovered by Eldorado in 2016. Gold mineralization
within the skarn assemblage is hosted by Cretaceous limestone underlying an altered and weakly
mineralized Tertiary andesitic volcanic sequence. 12 holes were drilled into the centre of the Shanac system
in 2016 and an additional nine drillholes have been completed in 2017 to define the margins of the
mineralized body. Gold grades within magnetite skarn at Shanac are typically 0.5 g/t Au to 2.0 g/t Au over
vertical intervals of 50 to 200 metres beginning at depths of 150 to 300 metres from surface, with highest
grades localized in a gently dipping lens just below the Tertiary volcanic rocks (Figures 8 and 9).
At the Gradina and Copper Canyon prospects, 2017 drilling targeted extensions of high -grade intercepts
associated with zones of retrograde skarn mineralization identified in previous drill campaigns, and also
tested new conceptual targets.
Regional exploration crews are currently completing initial stream sediment, soil, and rock chip sampling at
recently granted licenses surrounding KMC and elsewhere in Serbia and Kosovo. Initial results have
delineated several new target zones to be followed up with geological mappi ng and ground magnetic
surveys.