Eldorado Gold Provides Update on Exploration Projects
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NEWS RELEASE
TSX: ELD NYSE: EGO November 13, 2020
Eldorado Gold Provides Update on Exploration Projects
VANCOUVER, BC – Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to provide results
from brownfields exploration drilling prog rams 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 inter cepts 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 gol d 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 exp loration 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 n ew 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.
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*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.
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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.
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.
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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 a n 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 drillhol e 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 co ntinuity 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 measu rements 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 Si gma 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.
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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.
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 contin ue for the remainder of the year at Kokarpinar and a resource
conversion drilling program is planned for 2021.
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Figure 6: Geological map of the Efemcukuru mine area showing locations of exploration drillholes completed
in 2020 at the Kokarpinar vein system.
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.
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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.
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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)
TRUE
THICKNESS
(m)
Au (g/t)
uncapped
Au g/t
with 40
g/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