VANCOUVER, Dec. 6, 2017 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that EnGold drill hole G17-37 has intercepted 39.25 metres containing semi-massive mineralized sections (assays pending) similar in appearance to hole G17-16 at the Company's 100% owned Lac La Hache Property in the Cariboo region of BC. Hole G17-37 was located to test a 71m gap along the northeast/southwest trend between holes G17-13 and G17-16 which intersected, respectively, 18.25 m grading 1.22 % Cu, 0.14 gpt Au, 5.27 gpt Ag, 26.7 % Fe and 43.5 m grading 1.31 % Cu, 0.2 gpt Au, 4.06 gpt Ag, 31.14 % Fe. Vertical hole G17-38 now in progress has been collared midway between discovery hole G16-01 and G17-13 to test a similar 71m gap along the trend. Hole 16-01 intersected 26.6 m grading 1.76 % Cu, 0.27 gpt Au, 10.29 gpt Ag, 35.8 % Fe. All intercepts reported are believed to be true width.
"Continuity of the well mineralized zone has now been demonstrated between G17-16 and G17-13," said EnGold VP of Exploration Rob Shives, P.Geo. "Given the structural variability of replacement-style mineralization, we believe additional closer spaced drilling, both step-out and infill, will be prudent in future exploration phases."
Drilling to the north of the G1 Discovery to test for possible off-set of the zone confirmed the presence of a significant fault in the upper portion of the hole (G17-36). Drilling problems related to the faulting caused a significant delay in completion of the hole, which intersected the anticipated host stratigraphy but with no significant mineralization. Additional testing for the offset of the mineralized zone as interpreted from ground gravity anomalies (see image on website) will be considered in the next phase of drilling in 2018.
EnGold had anticipated reporting a resource calculation for the Aurizon South gold zone by the end of November, but work on the calculation by the Company's independent consultant is still ongoing, with an announcement now expected by the end of December 2017.
"EnGold's persistence at Lac La Hache resulted in a very exciting discovery in 2017," said EnGold President & CEO David Brett. "And given our deep geological knowledge of the property and its strong potential, EnGold is optimistic about our prospects for future exploration success."
EnGold (www.engold.ca) is focused on exploring its 100% owned mineral property located near the town of Lac La Hache in BC's prolific Cariboo mining region. 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 discovering and developing mineral resources.
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.
David Brett, MBA
President & CEO
This news release may contain "forward‐looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these "forward looking statements."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Engold Mines Ltd.
For further information: David Brett, 604-682-2421 or [email protected]