For Immediate Release. March 7, 2017. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that a second drill is mobilizing to follow up on a recently announced discovery drill hole and is expected to be set up and drilling in the new area on or before March 13th. As reported March 1, 2017, hole G16-01 targeting a gravity geophysical anomaly encountered 1.76% copper, 0.27 grams per ton gold, 10.29 g/t silver and 35.8% iron over 26.57 meters (true width) in a previously undrilled area of the Company’s 100% owned Lac La Hache Property in the Cariboo region of BC. Within this interval, a 14m thick interval exceeds 2% copper. The skarn-type mineralization is located 1.8 km southeast of the existing copper-gold-silver-magnetite resource defined at the Spout Deposit.
“The effectiveness of the gravity data, combined with our excellent knowledge of the geology of the property, is enabling EnGold to confidently target its next round of drilling,” said EnGold VP Exploration Rob Shives, P. Geo. “We are looking forward to stepping out from the discovery hole in this exciting new area of the Lac La Hache Property.”
The second drill will focus on the 1 km X 1.4 km gravity geophysical anomaly that prompted the discovery hole. EnGold has requisitioned an expanded and more detailed gravity survey that is expected to commence mid-March. The new gravity work will test for extensions of the anomaly, help guide drilling at the new discovery, as well as test for similar gravity anomalies on other parts of the property.
“EnGold is moving quickly to mobilize capacity to explore this exciting new discovery,” said EnGold President & CEO David Brett. “We are well positioned to move forward aggressively and expect the next several months to be very active for EnGold.”
Vertical drill hole G16-01 intersected semi-massive magnetite-chalcopyrite (minor pyrite) skarn type mineralization over a true width exceeding 26 meters. The mineralization appears stratabound, occurring within sub-horizontal, skarned Nicola volcanoclastic rocks interpreted as the possible down-dip extension of Spout host rocks. The mineralogy and textures of the mineralized zone also appears very similar to Spout Deposit mineralization.
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, and on the new copper-magnetite-gold-silver discovery. 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.
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 firstname.lastname@example.org
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