VANCOUVER, Aug. 9, 2018 /CNW/ - David H. Brett, President & CEO, EnGold
Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that
drilling is now underway in the highly prospective 1,800 metre Gap
Area between the G1 Copper Zone to the southeast and the Spout
Copper Deposit to the northwest, targeting geophysical anomalies
that indicate potential for new high-grade copper mineralization.
At Spout North, six holes totalling 2,961 metres have successfully
extended the high-grade, near surface copper mineralization drilled
previously to depths of more than 400
m below surface, along a strike length of approximately 550
metres. Assay results for the first three drill holes were
previously reported (July 12, 2018)
and included 3.3 % copper over a core length of 8.8 metres in DDH
SL18-181 at 419.8 to 428.6 m
downhole. Assays are pending for the final three holes. Several new
figures illustrating drill results in plan, cross-section, and
longitudinal section are available here:
https://engold.ca/projects/maps-images/
Regarding the Gap Area drilling, EnGold VP Exploration Rob
Shives, P.Geo., stated: "The Spout and G1 zones lie approximately
1800 metres apart and contain magnetite-copper in carbonate
replacements with similar mineralogy, textures, host-rock lithology
and grades, with numerous intersections of 1.0 to 2.0 percent
copper over true widths from 3 to 43 metres. At Spout, the
mineralization comes right to surface and produces strong positive
magnetic, gravity and induced polarization (IP) anomalies. The
semi-massive high-grade mineralization at G1 is deeper, (316 metres
from surface to the top of the Zone in the discovery hole) and was
discovered using gravity data, but produces relatively weaker
magnetic and IP anomalies due to the zone depth. However, deep-IP
surveying completed earlier this year shows positive modelled
responses in both chargeability and resistivity along a single line
completed across Spout and G1 Zones, in the area we refer to as the
"gap", where no previous exploration drilling has been completed.
These new anomalies, in combination with airborne magnetic and
ground gravity patterns, provide several compelling targets that we
are now drill testing in the Phase 2 Program."
Image illustrating selected "gap area" targets are located
here:
https://engold.ca/projects/maps-images/
"EnGold is now entering the most exciting phase of its 2018
drilling campaign," said EnGold CEO David
Brett. "We believe there is strong potential to find new
mineralization similar to the high-grades over the significant
widths we found at G1 in 2017."
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.