VANCOUVER, Sept. 11, 2018 /CNW/ - David H. Brett, President & CEO, EnGold
Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that in
light of the encouraging 63 metre variably copper mineralized
intercept encountered in hole GP18-42 (reported August 23, 2018, assays pending), EnGold has
commenced a 9 line-kilometer induced polarization ("IP") survey to
build on the positive results of the reconnaissance IP work carried
out earlier in 2018 at the Company's 100% owned Lac La Hache copper, gold silver property in
the Cariboo region of BC. The survey is expected to complete in 10
days, with results available shortly thereafter, which will be used
to guide the Company's next series of drill holes.
Also, field crews collected 178 soil samples from a new grid
survey near the Aurizon South Gold Deposit, where 2016 drilling and
trenching discovered a narrow but very high-grade gold-bearing
quartz vein roughly perpendicular to the main Aurizon structure.
The geochemical survey was oriented to explore for other possible
gold bearing quartz veins in the area. A map of the new survey is
located on EnGold's website here:
https://www.engold.ca/projects/maps-images/
In the G1 Discovery area, recent drilling (see August 23 News) has shown positive correlation
between anomalies defined on a single deep IP test line extending
across the Spout Deposit and G1 Zone. Vertical DDH GP18-42, located
260 metres southeast of the discovery hole G16-01, tested the
highest IP chargeability anomaly and intersected 63 metres
(downhole) containing copper associated with semi-massive magnetite
intervals and with alteration more typically associated with
porphyry style copper. The IP and ground gravity data suggest the
results here and at G1 may relate to an unmapped intrusion.
Additional deep IP surveying across this new anomaly and the
G1 Zone, will provide a 3D view and improve targeting. The survey
will be conducted by Peter E.
Walcott and Associates and will extend westerly from a 2008
survey.
Rob Shives, EnGold's V. P.
Exploration said, "I am excited to see these new results in this
particular part of the property, where some of the strongest IP
chargeability anomalies on the entire project occur on the edge of
the 2008 survey but are poorly defined. The new data will achieve
three things: improved understanding at G1; 3D definition of the
chargeability anomaly intersected in DDH GP18-42; and proper
delineation of the Peach Melba IP anomaly detected 10 years ago.
Our understanding of important relationships between porphyry and
carbonate replacement styles of mineralization is evolving."
At the Aurizon Gold Deposit, a detailed B-horizon soil sampling
survey has been completed across the gold-silver-copper rich quartz
vein discovered in 2016 in drill cores and surface trenches. The
vein contains visible gold and chalcocite but is very difficult to
detect visually near surface due to strong weathering. As
previously announced, the vein has a strike length of 120 metres,
remains open in all directions, and produced drill core assays
grading 263 gpt Au, 1.74 % Cu, 90.5 gpt Ag over 10 centimetres, and
surface grab samples grading up to 178 gpt Au, 28 % Cu and 81 gpt
Ag. A total of 178 soil samples were taken every 20 metres
along lines spaced at 40 metres, with 20 metre in-fill lines over
the known vein. We hope to use the new soil survey results to
extend the known vein at surface along strike in both directions
and to search for similar high-grade veins within the Aurizon
Deposit area. An image showing the survey layout is shown
here: https://www.engold.ca/projects/maps-images/
"Persistent exploration at Lac La
Hache continues to yield encouraging results," said EnGold
CEO David Brett. "Our geological
team is not only building on past discoveries, they are opening up
exciting new discovery potential."
About EnGold
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.
