Red JV Property

Red JV Property located between Mount Polley Mine and Afton/Ajax Mines


Location

The Red JV Project lies entirely within the outer boundaries of EnGold’s Lac La Hache property, approximately 56 km east-southeast of Williams Lake and 16 km northeast of the village of Lac La Hache, which is serviced by BC Rail, BC Hydro and Westcoast Transmission natural gas.

The area is located within the prolific Quesnel Trough belt, host to many past and currently producing copper (gold-silver-molybdenum) mines and significant prospects.




Tenure

The property encompasses 100%-owned claims, contributed by Pacific Empire Minerals Corp (PEMC) and by EnGold Mines Ltd (EGM), to form a 50:50 joint venture which consolidates ground covering a strong porphyry-copper exploration target.

Geology

The Red JV overlies volcanic, volcaniclastic and sedimentary rocks of the Middle to Upper Triassic Nicola Group, intruded by Late Triassic to Early Jurassic dioritic to granitic rocks, including the large Takomkane Batholith. Locally, to the east on the surrounding EnGold Lac La Hache project, several smaller satellitic stocks of monzonitic composition host drilled porphyry copper-gold-silver prospects.


History

Numerous work programs have previously been conducted in the Red JV area, consisting of soil and rock geochemistry, geological mapping, ground geophysics (IP and magnetics), airborne gamma ray spectrometry/magnetic surveys and diamond drilling.

Exploration Target

A large IP chargeability anomaly, coincident with resistivity, magnetic and copper-in-soil anomalies, has received very limited historical exploration. Sparse outcrops within the area contain pyrite-chalcopyrite mineralization in fractured, propylitically-altered volcanic rocks, including 2 recently collected outcrop grab samples (PEMC samples # 2086919, # 2086917, 2015) that returned 2.9% Cu, 0.03 g/t Au, 7.45 g/t Ag and 1.8% Cu, 0.21 g/t Au, 12.9 g/t Ag.

The Red JV exploration target is a large IP chargeability anomaly, coincident with:

          • an IP resistivity high
          • a magnetic low
          • anomalous copper in soils
          • anomalous copper in bark
          • a flanking gravity anomaly
          • adjacent gold in soil and stream sample anomalies
          • an area with limited outcrop exposure
          • exposed Nicola bedrock containing porphyry-style alteration and mineralization

A series of images below depict results over the property: airborne magnetic vertical gradient (top left) shows circular magnetic low; induced polarization (IP) chargeability (top right) coincident with the magnetic low; adjacent, strong ground residual gravity high anomaly (bottom left); RGS high gold in stream sediment sample (bottom right) located immediately down-ice, down-slope of the target.