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Copyright © 2017
Engold Mines Ltd.
All rights reserved.
Engold Mines Ltd.
All rights reserved.
For Immediate Release. May 17, 2017. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports assay results from two holes within the step-out drilling program designed to follow-up the previously announced copper, gold, silver, magnetite discovery drill hole G16-01. The area is located 1.8 km south of the Spout Skarn Deposit at the Company’s 100% owned Lac La Hache Property in the Cariboo region of British Columbia (the “Property”).
Drill holes G17-07 & G17-08 targeted intercepts 50 metres south of holes G17-03 & G17-04 respectively. Hole G17-07 intercepted 6.05 metres (m) from 351.25 to 357.3 m downhole grading 1.01 % copper, 0.18 grams per tonne (gpt) gold and 8.02 gpt silver, including 3.15 metres grading 1.43 % copper, 0.31 gpt gold and 12.6 gpt silver.Hole G17-08 intercepted 7.08 m from 335.83 to 342.9 m downhole grading 0.39% copper, 0.10 gpt gold and 3.33 gpt silver, including 3.77 m grading 0.74 % copper, 0.13 gpt gold and 4.57 gpt silver.Assays are pending from holes G17-09 & G17-10 which targeted intercepts 50 metres west and east of holes G17-04 & G17-03 respectively and encountered mineralization over significantly narrower widths than holes G16-01, G17-03, & G17-04. An approximately 11 metre intercept from hole G17-11, located 50 metres north of hole G16-01, is now being prepared for assay. Holes G17-12 & G17-13 are still underway.
“It’s evident that the mineralization in this location appears to be narrowing to the south, east and west, as indicated by the local magnetic and gravity geophysical anomalies in this discovery area. The anomalies define a trend extending to the north of the discovery hole, where we will continue to test potential extension of the zone” said EnGold VP of Exploration Rob Shives, P.Geo. “The sub-horizontal stratigraphy which hosts the mineralization has a very predictable attitude in all drilling to date and this offers excellent initial targeting strategy. Although skarn-style mineralization typically presents continuity challenges, we intend to use the combined magnetic and gravity patterns to significantly improve our drill targeting, both locally and regionally along the 5.5 kilometre anomalous trend of anomalies currently indicated.”
Following a break in the ground gravity survey program, the geophysical crew has returned to the project to continue measurements required to in-fill and extend existing anomalies. In addition, gravity surveying will focus along the large aeromagnetic total field high that forms a large arc, extending west and north from the Spout Deposits. A second gravity survey crew may be added to accelerate this work.
“Earlier this year, EnGold’s interpretation of gravity and magnetic geophysical data led to a drill hole that discovered a thick zone of significant mineralization,” said EnGold President & CEO David Brett. “That data indicates potential for mineralization with considerable size potential, and EnGold will be persistent in its exploration efforts in this exciting new area.”
Quality Control/Quality Assurance Program
EnGold Mines Ltd follows procedures which ensure sample security, chain of custody and Quality Assurance/Quality Control for all drilling and geochemical sampling, conforming to industry practices defined by Canadian Institute for Mining, Metallurgy (CIMM) standards, and required for TSX-listed companies by National Instrument 43-101.
All core was logged and photographed. Sampled intervals were sawed in half, bagged, sealed and sent securely to ALS Canada Ltd for analyses. Half-gram samples were digested with aqua regia acid then analysed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) for 35 elements (ME-ICP41). A 30 gram split is analyzed for gold by fire assay with a gravimetric finish (ME-GRA21). Copper values exceeding 1 percent were analyzed using aqua regia digestion with an ICP-AES finish (ME-OG46) to improve accuracy and precision at higher grades. As part of our comprehensive QA/QC program, one standard, one blank and one in-line replicate were inserted into the sample stream in each group of approximately 20 samples in each analytical batch.
EnGold is focused on exploring 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 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.Supported by significant local infrastructure including powerlines, all season road access, rail and other amenities, the Lac La Hache project demonstrates excellent logistics.
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
For further info contact David Brett, 604-682-2421 or email@example.com
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.”
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