26 Mar, 2018, 09:00 ET
VANCOUVER, March 26, 2018 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that EnGold is preparing to commence its 2018 drill program at its 100% owned Lac La Hache Property ("LLH") in the Cariboo region of BC on or before March 29th, 2018. The first series of holes will focus on the G1 Copper Zone.
Geophysical surveys near the G1 Copper Zone continue and interpretation of the significant amounts of data obtained in 2017 and 2018 is ongoing. Results and conclusions arising from this continuing analysis will be disclosed and discussed when available.
Based on analysis of the data collected to date, EnGold management believes the 1.8km undrilled "Gap" between the Spout Copper Deposit and the G1 Copper Zone is highly prospective for significant additional high-grade copper mineralization. During the last twelve months, in addition to 16,197 metres of drilling, EnGold has collected gravity geophysical data from 1,815 ground stations, flown 329km of closely spaced airborne gravity and magnetic surveys, completed a LIDAR survey over most of the property, and reexamined dozens of past drill logs. Processing and interpretation of the data is ongoing.
"The 2017 G1 Copper Zone was a game changer for EnGold, and we believe more exciting discoveries at Lac La Hache are possible in 2018," said EnGold President & CEO David Brett. "We're aiming to move the project forward as aggressively as we can this year."
Rob Shives, EnGold VP Exploration stated: "Drill cores from the G1 Zone have been displayed at several venues since discovery (Kamloops Exploration Group Conference 2017, Minerals South Conference 2017, Vancouver Resource Investment Conference 2018, Vancouver Exploration Roundup 2018, and the Prospectors and Developers Conference Toronto 2018), prompting many comparisons with typically large, Iron-Oxide-Copper-Gold (IOCG) deposits. Regardless of genetic origin, the geological setting and carbonate replacement style offer strong potential for multiple similar depositional sites, over a large area within the project. G1 Zone serves as a geophysical test case as we seek to infill/extend that zone and explore high-priority areas with similar positive gravity and magnetic signatures such as the G1-Spout Deposit "Gap". I look forward to an exciting 2018 exploration program."
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, 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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