For Immediate Release. June 13, 2022. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that assays from quartz veins encountered in an upper portion of drill hole AZS22-83 targeting the Aurizon Gold Deposit at the Company’s 100% owned Lac La Hache Property in the Cariboo Region of BC have returned significant gold values, including 2.5 meters grading 11.40 AuEq and 7.11 metres grading 7.15 gpt AuEq, including 0.75 metres grading 79.21 gpt AuEq. The sections reported contained visible gold and were assayed on a rush basis as the hole continues to a projected depth of 900+ metres, which is expected to intersect the main Aurizon hydrothermal breccia structure. These rush-assay results are tabulated below. Additional assays within this hole and hole AZS22-82 are pending. All results are core lengths only as the true width of the structures reported have not yet been determined.
The Aurizon Gold Deposit, located near the southeast end of a 10 kilometre mineralized corridor at Lac La Hache, contains an Inferred Mineral Resource of 1,991,000 tonnes at a grade of 3.18 g/t AuEq, 2.32 g/t Au, 0.60% Cu and 5.3 g/t Ag based on a 2.0 g/t Gold Equivalent cut-off grade. Hole AZS22-83 is the second Aurizon Gold drill hole of EnGold’s 2022 drill program. AZS22-82, drilled to a depth of 1,235.37 metres, encountered multiple mineralized zones (assays pending), but is interpreted to have deviated paralleled the main, steeply dipping Aurizon Gold structure. Hole AZS22-83 is being drilled at a shallower angle, targeting a pierce point on the Aurizon structure at approximately 700-800 metres below surface, or about 200 metres above the planned intercept of the prior hole.
|Table 1: Weighted assay intervals for Aurizon South Deposit|
|DDH||From (m)||To (m)||Interval
|Au (g/t)||Ag (g/t)||Copper Eq.*|
|Assumptions used for the copper equivalent calculation were metal prices in USD of $4/lb Copper, $1,800/oz Gold, $23/oz Silver.
Recovery is assumed to be 100% as no metallurgical data is available.
“These high grade structures, which are not included in our maiden Aurizon resource, are very encouraging,” said EnGold VP Exploration Rob Shives. “We continue to see strong evidence of a large, metalliferous Alkalic Porphyry system at the Property.”
“We see Aurizon as a potential stand-alone gold deposit, as well as a potential feeder into a multi-deposit mining model,” said EnGold President & CEO David H. Brett. “Our strategy is to build out our current resources while exploring for brand new discoveries.”
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 is a Vancouver-based copper, gold, silver, magnetite exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC which hosts the Spout Copper Deposit, the Aurizon Gold Deposit and the G1 Copper Deposit and other targets within a large porphyry mineralizing system. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring.
EnGold Mines Ltd.
President & CEO
For further info contact David Brett, 604-682-2421 or email@example.com
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