For Immediate Release. June 10, 2019. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that the Company’s geological team, in part inspired by recent staking nearby by a major mining company, is reexamining the undrilled, grass-roots Scorpio porphyry-style polymetallic exploration target within the northern part of EnGold’s large, 100% owned Lac Hache Project. Initially discovered in 2012, the Scorpio area consists of an approximately 5 km long, 9 square km molybdenum soil anomaly that is coincident with high copper stream sediment anomalies. Recent prospecting has discovered mineralized outcrops of porphyritic intrusive rocks with potassically altered stock-work fracturing containing molybdenum, bornite, chalcopyrite, pyrite, and tungsten-bearing minerals.
Prospecting and sampling of the Scorpio Porphyry Target is ongoing.
The large Scorpio target was initially defined by very high molybdenum (Mo) values on property-wide, 1200-site Ah-horizon soil geochemical survey conducted in 2012. The survey was reconnaissance in nature, using nominal sample spacing of 500 m. No other areas surveyed produce the high Mo values observed at Scorpio. Chemical analyses of the Ah-soil horizon included 51 elements including copper, gold and silver, but the only other element that correlated positively with the Mo at Scorpio was tungsten (W) and to a lesser degree, silver and potassium. This W correlation within Ah-soils has been demonstrated elsewhere over producing and advanced copper-gold-silver +/- molybdenum porphyry projects (e.g. Mount Milligan, Kwanika, Mount Polley, Woodjam).
The number of anomalous sites and overall size of the anomaly at Scorpio is very encouraging. Within a background of 1-2 ppm Mo, Scorpio is defined by 20 sites spaced 500m apart, all exceeding 4-8 ppm Mo, including a linear central high containing values of 12, 19, 44 and 56 ppm Mo. The 20-site anomaly covers 9 square kilometers overlying a well-defined magnetic trend suggesting structural control.
“The area initially became of interest to me when I was still with the Geological Survey of Canada and flying an airborne gamma ray-magnetic survey in the region,” said EnGold VP of Exploration Rob Shives, P.Geo. “The survey showed anomalous potassium coincident with aeromagnetic total field patterns, a signature that is typical of most porphyry-style deposits throughout BC’s Quesnel Trough.”
“Scorpio is an opportunity to quickly and very cost effectively open up a potentially very exciting new exploration dimension for EnGold,” said EnGold President & CEO David Brett. “Our focus on the exciting G1 high-grade copper discovery, the Spout Copper Deposit, and the Aurizon Gold Deposit has always been within the context of the significant porphyry potential here at Lac La Hache.”
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 Deposit and the 2017 G1 Copper Discovery, located within a 7-kilometer area on the property, are all considered by EnGold to be potentially underground minable targets. 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.
President & CEO
For further info contact David Brett, 604-682-2421 or firstname.lastname@example.org
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