VANCOUVER, Aug. 9, 2018 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that drilling is now underway in the highly prospective 1,800 metre Gap Area between the G1 Copper Zone to the southeast and the Spout Copper Deposit to the northwest, targeting geophysical anomalies that indicate potential for new high-grade copper mineralization. At Spout North, six holes totalling 2,961 metres have successfully extended the high-grade, near surface copper mineralization drilled previously to depths of more than 400 m below surface, along a strike length of approximately 550 metres. Assay results for the first three drill holes were previously reported (July 12, 2018) and included 3.3 % copper over a core length of 8.8 metres in DDH SL18-181 at 419.8 to 428.6 m downhole. Assays are pending for the final three holes. Several new figures illustrating drill results in plan, cross-section, and longitudinal section are available here: https://engold.ca/projects/maps-images/
Regarding the Gap Area drilling, EnGold VP Exploration Rob Shives, P.Geo., stated: "The Spout and G1 zones lie approximately 1800 metres apart and contain magnetite-copper in carbonate replacements with similar mineralogy, textures, host-rock lithology and grades, with numerous intersections of 1.0 to 2.0 percent copper over true widths from 3 to 43 metres. At Spout, the mineralization comes right to surface and produces strong positive magnetic, gravity and induced polarization (IP) anomalies. The semi-massive high-grade mineralization at G1 is deeper, (316 metres from surface to the top of the Zone in the discovery hole) and was discovered using gravity data, but produces relatively weaker magnetic and IP anomalies due to the zone depth. However, deep-IP surveying completed earlier this year shows positive modelled responses in both chargeability and resistivity along a single line completed across Spout and G1 Zones, in the area we refer to as the "gap", where no previous exploration drilling has been completed. These new anomalies, in combination with airborne magnetic and ground gravity patterns, provide several compelling targets that we are now drill testing in the Phase 2 Program."
Image illustrating selected "gap area" targets are located here: https://engold.ca/projects/maps-images/
"EnGold is now entering the most exciting phase of its 2018 drilling campaign," said EnGold CEO David Brett. "We believe there is strong potential to find new mineralization similar to the high-grades over the significant widths we found at G1 in 2017."
EnGold is a Vancouver-based copper/gold exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC. EnGold's vision is to identify and delineate mineral resources at Lac La Hache that could potentially support an economically feasible and environmentally sustainable underground mining operation. The Spout Deposit, the Aurizon Gold Zone and the 2017 G1 Discovery, located within a 7-kilometer area on the property, are all considered by EnGold to be potentially underground minable targets. 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. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring. 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.
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, 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: contact David Brett, 604-682-2421 or [email protected]