21 Nov, 2017, 09:23 ET
VANCOUVER, Nov. 21, 2017 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that EnGold has recommenced drilling at its 100% owned gold, copper, silver Lac La Hache Property in the Cariboo Region of BC. The 3-4 week, one drill program will focus on the G1 Discovery zone and possible fault-offset extension to the northeast.
New modelling of ground gravity data at the discovery zone by Excel Geophysics interprets a northwest/southeast trending fault close to hole G17-16 (43.45 metres grading 1.31 % Cu, 0.20 g/t Au, 4.06 g/t Ag and 31.14 % Fe, true width). The data indicates continuation of the anomalous gravity trend for approximately 300 m to the northeast, across this fault, with a possible offset of 150 m to the northwest. As previously reported, the untested northeastern anomaly appears larger and more intense than that related to the Discovery Zone. Hole G17-36, currently in progress, is testing the hypothesis that the mineralized zone continues on the east side of the fault. At time of writing, the hole had encountered a fault at approximately 73m down hole, as suggested by the geophysical interpretation. A third anomalous area is also developing and has been termed the southwest anomaly. A map showing the new gravity data interpretation can be found on the Company's website at www.engold.ca.
"The existence of a fault explains why the mineralized zone seemed to terminate abruptly at its thickest point to date of more than 44 m true thickness, in drill hole G17-16", said VP of Exploration Rob Shives, P.Geo. "There can be no assurances that the zone continues east of the fault, but the current data certainly provides encouragement that it does."
Ongoing interpretation and analysis of the geophysical data, coupled with recent and past drilling information, is building a strong case that multiple mineralized zones similar to the discovery area may exist as northeast/southwest trending bodies perpendicular to a 1.8 km northwest/southeast trend extending from the discovery area to the Spout Deposit.
"EnGold is pursuing its vision to build a critical mass of tonnes to support a high grade, low cost underground gold, copper, silver mining operation," said EnGold President & CEO David Brett. "With a resource calculation at Aurizon pending, and further calculations possible at Discovery and Spout in the near term, our exploration focus is to expand existing mineralization and find new zones along trend."
Assay results from holes G17-24, 26, 27, & 29 confirmed limited potential for extensions of the discovery zone to the west and southwest, with only minor economically interesting results in hole G17-29. The latter hole encountered a 21 m thick zone of skarn mineralization but returned generally low copper values, except for an intercept at 359.1-360.3 (1.2m true width) grading 1.56 % Cu, 0.25 gpt Au, 6.5 gpt Ag, and 23.90 % Fe. Hole G17-28 targeting the "G2" gravity anomaly returned 25 m (core length, true width undetermined) grading 0.39 % Cu, 0.46 gpt Au, 1.39 gpt Ag, 4.84 % Fe. Initial drilling at "Spout West" and the Berkey zone returned no significant intercepts.
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]
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