For Immediate Release. June 4, 2020. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that exploration crews have resumed work at the Company’s 100% owned Lac La Hache Property in the Cariboo Region of Central BC. Prospecting of new gold, polymetallic soil anomalies discovered in 2019 is underway and drilling of the Ann North deep drill hole AN20-01 will resume when wet ground conditions improve, allowing access. The work is expected to be completed by the end of June, 2020.
Hole AN20-01 was drilled to a depth of 604 metres in March and suspended due to concerns around the novel coronavirus Covid-19. The Company plans to complete the hole to its original target depth of 800 metres. The deep hole provides an initial test for evidence of alkalic porphyry mineralization below the historic copper, gold and quartz-rich hydrothermal breccias outlined by prior drilling closer to surface.
“We’re happy to be back exploring at Lac La Hache,” said EnGold President & CEO David Brett. “We are also anticipating the maiden G1 Copper Zone resource calculation and the Spout Copper Deposit recalculations underway by SRK.”
The 2019 soil sampling program resulted in multiple new gold exploration targets on the property including Aurizon West and Jodie grids As previously announced, detailed soil sampling programs produced 93 sites which exceed the 95th percentile (>500 parts per billion gold) and 36 of these exceed the 98th percentile (> 100 ppb gold). At Jodie more than 20 anomalous sites provide prospecting targets, including a continuous 500 metre by 200 metre cluster of sites with gold values up to 662 ppb (see image below). Images of the results for all areas can be found here , including contour maps for gold, silver, copper, molybdenum, nickel, tungsten, lead and zinc.
Figure 1: Gold in B-horizon Soils, Jodie Grid. Dots represent sample sites, labelled with gold assay results in ppb.
Rob Shives, P.Geo., EnGold VP of Exploration, stated: “We look forward to resuming our deep test hole under the Ann North prospect, and to prospecting the many new, encouraging soil gold anomalies in unexplored ground at 8000, Aurizon West and Jodie prospects”.
EnGold (www.engold.ca) 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 shareholder and stakeholder value by discovering and developing mineral resources.
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
Contact: David Brett, 604-682-2421 or email@example.com
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and failure to obtain regulatory approval in a timely manner. Forward-looking statements in this release include statements regarding plans to raise financing for operations, future exploration programs and operation plans and anticipated timing for completion of the next tranche of the financing. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. EnGold disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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.