VANCOUVER, Oct. 10, 2018 /CNW/ - David H. Brett,
President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or
the "Company") reports new drill core assays, soil sample assays
and IP geophysical results from the Company's 100% owned
Lac La Hache copper, gold, silver
property in the Cariboo region of BC. Anomalous gold values from a
soil geochemical survey near the Aurizon Gold Deposit has led to
discovery of a deeply oxidized, quartz-pyrite-chalcocite-native
copper bearing structure, now outlined over a 50 metre strike
length, located 50 metres southwest of another high-grade gold
bearing quartz vein found in 2017. Locally, the exposed structure
is up to 3 metres wide. Assays from the new structure are
pending.
As previously reported, drill hole GP18-42 encountered 63 metres
of variably mineralized core, which has now returned assays of
0.47% Cu, 0.06 gpt Au & 5.93 gpt Ag over 58.50 metres. Full
assay results from the Gap area holes completed to date are
tabulated below.
Preliminary modeled IP results from an IP survey completed in
September show strong changeability responses that will help guide
EnGold's next phase of drilling.
Aurizon Area Discovery
In October of 2016 EnGold reported that a well mineralized
quartz vein was discovered on the west side (hanging-wall) of the
Aurizon Gold Deposit. The vein averages 15 cm wide, has a currently
defined strike length of 120 metres (open) and contains visible
gold and copper (massive chalcocite) which have produced assays
exceeding 150 gpt Au and 10 % Cu in both surface grab samples and
in drill cores. These "Bonanza" values were not included in the
Aurizon Deposit maiden resource determined earlier this year.
Much of the Aurizon area is overburden covered which, although
relatively thin in most places, inhibits conventional prospecting.
This prompted EnGold to conduct a B-soil geochemical survey to
detect possible additional veins. Analyses for part of the survey
have been received, with several sites showing values exceeding 25
times background Au values. Recent prospecting in one of these
locations has successfully uncovered a deeply oxidized,
quartz-pyrite-chalcocite-native copper bearing, structure located
50 m southwest of the initial vein
discovery. Prospecting has uncovered the vein along a 50 m strike (open) and continues, with sampling
underway of the structure which is locally up to 3 m wide as exposed. Analyses will be
released upon receipt.
Gap Area Drill Results
As announced August 23, 2018,
drilling near the G1 Discovery tested the south side of a
single-line Induced Polarization (IP) anomaly associated with the
G1 zone but located more than 200 m
south of the discovery hole G16-01. Assays have now been
received for this hole, GP18-42, returning a broad, 58.5 metre
interval (core length) assaying 0.47 % Cu. The interval contained
narrow intervals of higher-grade, massive magnetite-chalcopyrite
displaying the carbonate replacement style observed at G1 as well
as disseminated chalcopyrite with propylitic and potassic
alteration in appearance similar to the porphyry-style alteration
observed elsewhere throughout the Lac La Hache Project. The
combined IP, ground gravity, magnetic and now geological
information suggests the hole may represent a transition between
intrusion-related-proximal mineralization and more distal carbonate
replacement as observed at G1. This offers additional exploration
potential in the G1 area and will be tested in the resumption of
drilling expected this fall.
DDH
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
Fe
(%)
|
GP18-41
|
324.00
|
324.80
|
0.80
|
0.60
|
0.05
|
2.10
|
8.09
|
GP18-42
|
184.00
|
185.10
|
1.10
|
0.87
|
0.05
|
10.20
|
10.05
|
|
426.00
|
434.55
|
8.55
|
0.30
|
0.04
|
1.60
|
4.54
|
|
488.50
|
547.00
|
58.50
|
0.47
|
0.06
|
2.18
|
6.07
|
including
|
504.00
|
507.10
|
3.10
|
1.55
|
0.17
|
5.93
|
7.85
|
including
|
535.00
|
541.00
|
6.00
|
0.71
|
0.12
|
3.97
|
7.97
|
GP18-43 no significant assays
|
IP Results
To better define the single-line IP response at G1, additional
survey lines have been completed by Walcott and Associates. These
lines have been positioned to tie into an earlier IP survey located
to the east of G1. Preliminary modelled sections for three
lines has been received and show strong IP chargeability responses.
Modeling continues to provide 3D isosurfaces which can then be
spatially related to the historical and existing drill results in
the area. While interpretation is currently underway, we will
incorporate these very positive results into our fall drill
program.
Rob Shives, EnGold's V. P.
Exploration said, "Our field follow-up to the recent soil survey at
the Aurizon Gold Deposit is still ongoing, with analytical results
for many sites still to be received from the lab. I am very
encouraged by the early discovery of the quartz-breccia
mineralization at one of the new anomalies and I look forward to
prospecting the full data set once received. The potential
for discovery of new high-grade structures is promising. At
the G1 Zone, the new IP data has already defined new and extended
known, chargeability anomalies. We expect to receive 3D-modeled
data soon, to improve our mutli-layered targeting at G1 and
adjacent ground."
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
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"forward‐looking statements". Readers are cautioned
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SOURCE Engold Mines Ltd.