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Engold Mines Ltd.
All rights reserved.
Engold Mines Ltd.
All rights reserved.
ENGOLD DRILLING EXTENDS AURIZON ZONE, CUTS VISIBLE GOLD IN QUARTZ VEINS TRACED TO SURFACE
For Immediate Release. October 26, 2016. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” and the “Company”) reports that EnGold has received assays from another drill hole from its ongoing drill program that has yielded additional high gold, silver and copper values within the Aurizon South Gold Structure. A total of 7 drill holes of an expected 8 program have now been completed at Aurizon. New results will be released as they come in, expected over the coming days and weeks.
Hole AZS16-54 intersected 2.5 metres grading 4.7 grams per tonne gold, 11.41 gpt silver & 3.04% copper, within a wider interval of 9.46 metres grading 2.11 gpt gold, 5.55 gpt silver & 1.19% copper between 144.54 & 154.0 metres down-hole. The results test the Aurizon Zone more than 50 m away from similar intersections drilled last year (AZS15-47 cut 6.66 grams per tonne gold over 1.61 metres; AZS15-50 cut 12.4 grams per tonne gold over 2 metres).
A second, lower grade zone within AZS16-54 assayed 1.42 grams per tonne gold, 3.77 grams per tonne silver and 0.53% copper between 166 & 169 metres down-hole. Reported intervals are core lengths and not true width, as true widths in this section have not yet been determined.
The gold and copper mineralization in hole AZS16-54 occurs in intensely altered and fracturedmonzodiorite, veined with sulphide-bearing (pyrite, chalcopyrite) fine-grained light grey quartz, and coarse-grained white quartz. Alteration is highly variable and includes potassium feldspar, epidote, chlorite, hematite and albite, all overprinted by younger calcitic fractures.
Subsequent drilling at Aurizon has intersected fine visible gold grains in a 7-10cm thick sulphide-bearing quartz vein, in two new drill holes (assays pending). The near-vertical vein occurs west of the main zone, only 15 metres from the surface. Prospecting through relatively thin overburden has successfully located the vein in subcrop. Visible gold is common in the vein and nearby altered wall rock, and has been traced for more than 110 metres to date. Copper-bearing tennantite is also abundant in the vein. The new discovery represents the first-ever, free gold-in-quartz on the property and further demonstrates the gold-rich nature of the Aurizon South system.
|DDH||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (%)|
EnGold is focused on finding and developing mining operations at 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.
About the Lac La Hache Property
The advanced stage property lies within BC’s Quesnel Trough mineral belt, which hosts several past and currently producing copper/gold/silver mines, including nearby Imperial Metals’ Mount Polley copper-gold mine and New Gold Inc.’s New Afton copper-Gold mine.The Company has drilled numerous prospects on the property, including Spout copper-magnetite-gold-silver deposit (for which a resource calculation has been reported and supported by an NI43-101 Technical Report), the gold-rich Aurizon gold-copper-silver prospect and recent new discoveries with porphyry and skarn copper/gold potential.
EnGold is currently focused on evaluation of its Aurizon Gold (gold-copper-sliver) prospect, where drilling continues to extend the host structure and gold-rich grades. Supported by significant local infrastructure including powerlines, all season road access, rail and other amenities, the Lac La Hache project demonstrates excellent logistics for resource extraction.
Quality Control/Quality Assurance Program
EnGold Mines Ltd follows procedures which ensure sample security, chain of custody and Quality Assurance/Quality Control (QA/QC) for all drilling and geochemical sampling, conforming to best current industry practices as defined by the Canadian Institute for Mining, Metallurgy and Petroleum (CIM) standards, and required for TSX-listed companies as defined by National Instrument 43-101.
All drill core was logged, photographed and cut in half with a diamond saw. Half core samples were bagged, sealed and sent securely to ALS Canada Ltd in Kamloops for preparation. Analyses were completed by ALS Minerals in Vancouver for Au (30 gram split fire assay, atomic absorption finish, gravimetric finish), Cu (ore grade, aqua regia), Ag (ore grade, aqua regia) and 35 additional elements by 4 acid digestion of a 0.25 g sample followed by an inductively coupled plasma – atomic absorption spectroscopy finish. As part of our comprehensive QA/QC program, one standard, and one in-line replicate were inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch.
Rob Shives, P.Geo., VP Exploration for for EnGold 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
For further info contact David Brett, 604-682-2421 or firstname.lastname@example.org
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.