VANCOUVER, July 12, 2017 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that 21 drill holes comprising 9,117.5 metres have now been completed around discovery drill hole G16-01. 90% of the holes drilled to date have encountered skarn-style mineralization across widths ranging from 2 to 43 m in true thickness. Although there may be a north-east/south-west trend emerging, the geometry of the mineralization has yet to be determined, and less than 50% of the mag/gravity geophysical anomaly has been drilled to date. With data from the newly completed airborne survey now being processed, modeled and interpreted, together with the significant additional ground gravity data collected over several weeks, EnGold's technical team will spend approximately two weeks developing the next series of drill targets, both at the discovery area, and at anomalies along the 5.5km anomalous trend. Two additional holes were drilled targeting on trend gravity anomalies, bringing the total metres drilled on gravity/mag targets to 10,182.8 m.
"Our initial drilling regime in the discovery area has validated our geological model and encountered very impressive true-widths of the higher-grade mineralization," said VP Exploration Rob Shives, P.Geo. "Results clearly show that the thickness of the stratabound mineralization within the much larger ground gravity/magnetic anomaly can vary significantly within 50 m step-outs. Analysis of our new geophysical data will be critical to determining optimal drill targeting in the next phase."
Results from the first 17 holes drilled have been previously reported, including Hole G17-16 which intersected 43.45 metres (m) grading 1.31% Cu, 0.20 gpt Au, 4.06 gpt Ag & 31.14% Fe, including 24 m grading 1.67% Cu, 0.29 gpt Au, 5.09 gpt Ag & 34.55% Fe. Hole G17-16 is collared 142 metres (m) northeast of discovery hole G16-01, which intersected 26.57 m grading 1.76% Cu, 0.27 gpt Au, 10.29 gpt Ag, & 35.8% Fe. Holes drilled as step-outs from G17-16 intersected discontinuous, narrow mineralized intervals. Hole G17-23, intersected the subhorizontal main mineralized zone approximately 71 m southwest of G17-04, appearing as several semi-massive magnetite-chalcopyrite intervals totalling 14.35 m over a wider, 19 m interval. Assays are pending for holes G17-18 through -23. As soon as ongoing access and power difficulties related to forest fires in the region are resolved, the cores from hole G17-23 will be split and samples delivered to the lab on an expedited basis for rush assay. An updated plan map of the drill hole collars has been added to the Company's website www.engold.ca
"Particularly in light of recent fire activity in the area, the timing is good to pause drilling to fully leverage the significant new geophysical data we have in hand," said EnGold President & CEO David Brett. "EnGold is fully funded for its next phase of drilling, following up on the very compelling intercepts we have encountered to date and branching out to test the numerous anomalies on trend."
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.
EnGold 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
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SOURCE Engold Mines Ltd.
For further information: David Brett, 604-682-2421 or [email protected]