VANCOUVER, Jan. 10, 2018 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that EnGold drill holes G17-37 and G17-38 have returned encouraging assay results. Vertical hole G17-37, located midway between G17-13 and G17-16, intersected 39.25 m grading 1.04 % Cu, 0.11 gpt Au, 5.21 gpt Ag and 24.53 % Fe, including 4.9 m grading 1.62 % Cu and 8 m grading 2.01 % Cu. This true thickness exceeds the predicted value of 31 m by approximately 8 m. Similarly, vertical hole G17-38, located midway between G16-01 and G17-13, exceeded predicted thickness by more than 15 m, cutting 37.13 m grading 1.00 % Cu, 0.16 gpt Au, 4.41 gpt Ag and 26.35 % Fe, and including 23.76 m grading 1.37 % Cu and 4 m grading 2.15 % Cu. Hole G17-37 also intersected silver bearing, fracture controlled chalcopyrite and pyrite mineralization located 106 m above the main copper zone, grading up to 2.54 % Cu and 37.20 gpt Ag.
These latest results are tabulated below. All intercepts reported are believed to be true width.
"The continuity of grade vertically and now, horizontally within G1 Discovery is impressive," said EnGold VP of Exploration Rob Shives, P.Geo. "We have demonstrated the value of in-fill drilling between the existing 50 m spaced drill pattern, effectively increasing tonnage by cutting thicker mineralized intersections. Additional in-fill and step-out drilling in 2018 will be completed here."
The Company has received preliminary maps derived from additional ground gravity surveying completed between the G1 Discovery and Spout Resource located 1800 m to the northwest. These will be interpreted in the coming weeks. Brian Jones, President of Excel Geophysics states "the initial maps of the new area suggest an anomaly pattern that is very similar to the anomaly at G1." Our understanding of the geophysical response continues to evolve. Our goal is to define geophysical characteristics of the G1 Discovery that can be used to search for additional zones, initially focusing on the area between G1 Discovery and the existing Spout Resource.
"EnGold continues to enjoy drilling success at Lac La Hache," said EnGold President & CEO David Brett. "Our team is busy planning and preparing for our 2018 exploration program and budget that will include drill testing of the highly prospective gap between the discovery area and the Spout deposit."
At the Aurizon South gold-copper-silver zone, EnGold is still awaiting final results of metallurgical testing to determine recovery rates and other parameters that will be incorporated into the resource calculation, now nearing completion. This new data is expected in the coming weeks, with disclosure of the resource calculation expected soon.
EnGold is a Vancouver-based copper/gold exploration company with a vision to develop and build a profitable, multi-zone, high-grade, low cost, low-footprint, low capital cost, environmentally and socially sustainable underground mine at its 100% owned Lac La Hache Property located in the Cariboo region of British Columbia, Canada. EnGold's significant new copper discovery in 2017 adds to the already extensively drilled Spout Copper Deposit and Aurizon Gold zones. Discovery potential for new high-grade zones remains strong, and existing areas are open for expansion. EnGold sees all high-grade zones on the Property potentially providing ore to a central milling facility. With world class infrastructure at its doorstep, low operating cost expectations at Lac La Hache are reasonable. EnGold's corporate philosophy rests on three interdependent pillars: Environment, Engagement and Gold. Through sound environmental stewardship, commitment to transparent engagement with local communities, the Company is dedicated to driving exceptional shareholder and stakeholder value by fulfilling its vision to profitably supply valuable and much needed metals to the global marketplace.
Quality Control/Quality Assurance Program
EnGold Mines Ltd follows procedures which ensure sample security, chain of custody and Quality Assurance/Quality Control for all drilling and geochemical sampling, conforming to industry practices defined by Canadian Institute for Mining, Metallurgy (CIMM) standards, and required for TSX-listed companies by National Instrument 43-101.
All core was logged and photographed. Sampled intervals were sawed in half, bagged, sealed and sent securely to ALS Canada Ltd for analyses. Half-gram samples were digested with aqua regia acid then analysed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) for 35 elements (ME-ICP41). A 30 gram split is analyzed for gold by fire assay with a gravimetric finish (ME-GRA21). Copper values exceeding 1 percent were analyzed using aqua regia digestion with an ICP-AES finish (ME-OG46) to improve accuracy and precision at higher grades. As part of our comprehensive QA/QC program, one standard, one blank and one in-line replicate were inserted into the sample stream in each group of approximately 20 samples in each analytical batch.
Rob Shives P.Geo., VP Exploration and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.
Engold Mines Ltd. Per/ David Brett, MBA President & CEO,
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