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G1 Copper Zone

In February 2017, EnGold drilled a vertical hole to test a new geophysical anomaly in an unexplored part of the Lac La Hache Project. The hole intersected a 27 m thick zone (true width) containing semi-massive magnetite (>40 % magnetite) and chalcopyrite (1.76 % Cu, with 14 m exceeding 2 % Cu). The new zone is horizontal, stratabound, and we believe it occurs within the down-dip extension of the same rocks which host our Resource at Spout Deposit, located 1800 m to the NW of the new hole.

The intersection also contains substantially higher gold (0.27 gpt over 27 m) and silver (10 gpt over 27 m) than at Spout. EnGold believes this first-ever hole in the area represents a new discovery, based on thickness and tenor of the material, and size potential indicated by the related geophysical (gravity and magnetic) signatures.

These exciting results prompted EnGold to bring a second drill on-site, and numerous other broad mineralized intercepts were encountered, including hole G17-16 which intersected 43.5 m grading 1.3 % Cu. The mineralization style and uniformity of grade throughout each intersection is impressive.

In March of 2021, EnGold disclosed a maiden mineral resource estimate at G1 completed by SRK Consulting (Canada) Inc.

The maiden G1 inferred resource estimate consists of 1.71 million tonnes grading 1.65% CuEq containing 21,400 tonnes of Copper (47,178,440 pounds), 354,400 ounces of Silver, 10,200 ounces of Gold and 529,100 tonnes of Magnetite. At Spout, the mineral resource estimate includes a potentially open-pitable indicated mineral resource of 6.5 million tonnes grading 0.48% CuEq and an inferred mineral resource of 7.66 million tonnes grading 0.39% CuEq, containing 21,000 and 20,400 tonnes of Copper respectively (46,296,600 pounds Cu & 44,973,840 pounds Cu respectively).

Deposit Category
Mt
Tonnes Grade Metal Content
CuEq Cu Ag Au Mgt Cu Ag Au Mgt
% % g/t g/t % 000’s t 000’s oz 000’s oz 000’s t
Spout (OP) Indicated 6.5 0.48 0.33 1.34 0.05 11.62 21.0 277.0 10.6 749.8
  Inferred 7.66 0.39 0.27 0.99 0.04 9.50 20.4 242.9 10.0 727.8
Spout (UG) Inferred 0.39 1.19 1.00 2.58 0.13 10.33 3.9 32.3 1.6 40.3
G1 (UG) Inferred 1.71 1.65 1.25 6.45 0.19 30.94 21.4 354.4 10.2 529.1

Notes:

  1. Mineral resources are not mineral reserves and do not have demonstrated economic viability
  2. Open pit mineral resources are reported at a cut-off grade of 0.2% Cu Equivalent
  3. Underground mineral resources are reported at a cut-off grade of 0.7% Cu Equivalent
  4. Cut-off grades are based on USD metal prices of $3.00/lb Cu, $21/oz Ag, $1600/oz Au and $87/t Magnetite, and metallurgical recoveries of 80% Cu, 45% Ag, 55% Au and 80% Magnetite

To download a copy of the National Instrument 43-101 Technical Report for EnGold Mines Ltd. (Lac La Hache Project) by SRK Consulting (Canada) Inc. , click here.

Highlights from drilling to date include:

DDH From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Fe (%)
AZS16-01 337.30 363.87 26.57 1.76 0.27 10.29 35.80
including 343.00 357.00 14.00 2.09 0.27 12.34 36.40
  416.00 421.66 5.66 1.14 0.23 5.07 19.70
including 418.53 419.53 1.00 4.49 0.94 17.10 44.00
G17-02 326.60 336.00 9.40 0.27 0.03 1.34 12.32
  410.85 414.25 3.40 1.24 0.33 8.86 22.34
G17-03 307.00 313.00 6.00 0.33 0.04 2.20 7.98
  337.30 359.00 21.70 1.22 0.17 5.96 30.06
including 343.00 349.00 6.00 1.76 0.16 8.00 34.23
  376.95 387.05 10.10 0.51 0.05 4.15 16.05
G17-04 336.00 348.20 12.20 1.82 0.41 9.96 32.49
including 336.00 342.00 6.00 2.18 0.46 12.13 34.87
  423.83 425.12 1.29 0.70 0.06 5.50 21.30
G17-07 351.25 357.3 6.05 1.01 0.18 8.02 24.25
including 352.5 355.65 3.15 1.43 0.31 12.60 28.18
G17-08 335.82 349.2 7.08 0.39 0.10 3.33 15.23
including 337 340.77 3.77 0.74 0.13 4.57 16.95
G17-09 95.00 98.80 3.80 0.53 0.18 6.39 15.30
including 95.00 96.00 1.00 1.05 0.36 11.90 26.40
  231.00 247.00 16.00 0.38 0.06 1.36 8.16
including 239.00 241.00 2.00 1.35 0.07 2.00 15.50
  263.00 268.00 5.00 0.49 0.08 2.18 7.04
  288.00 298.55 10.55 1.10 0.27 5.53 5.81
including 289.55 294.00 4.45 2.02 0.57 10.31 6.21
including 289.55 290.00 0.45 12.35 4.48 66.40 13.85
  332.75 334.00 1.25 0.61 0.03 2.80 9.60
G17-10 336.45 338.80 2.35 0.53 0.07 2.90 12.75
G17-11 321.96 333.00 11.04 1.16 0.12 6.19 27.44
including 323.00 331.00 8.00 1.50 0.16 7.73 31.58
G17-12 330.00 333.50 3.50 0.49 0.09 4.51 7.21
G17-13 318.75 337.00 18.25 1.22 0.14 5.27 26.70
including 328.00 334.00 6.00 1.92 0.18 8.23 30.27
G17-14 277.00 281.00 4.00 0.38 0.04 3.00 6.76
  309.56 314.35 4.79 1.36 0.14 7.24 26.60
including 311.00 313.65 2.65 1.97 0.20 10.82 34.95
G17-15 92.00 93.00 1.00 2.14 0.38 30.10 8.66
  102.33 104.33 2.00 2.06 0.34 9.40 8.59
including 102.33 103.33 1.00 3.35 0.59 14.10 8.78
G17-16 46.50 64.00 13.50 0.33 0.08 2.69 8.21
  124.45 125.50 1.05 0.58 0.13 4.80 11.65
G17-16 293.00 336.45 43.45 1.31 0.20 4.06 31.14
including 293.00 296.80 3.80 2.01 0.23 6.09 34.16
including 302.00 326.00 24.00 1.67 0.29 5.09 34.55
G17-17 250.00 281.00 31.00 0.46 0.05 3.26 7.78
including 250.00 264.00 14.00 0.48 0.12 3.26 8.58
including 269.00 281.00 12.00 0.54 0.06 2.12 7.66
G17-17 303.62 305.02 1.40 1.12 0.19 4.80 29.80
  308.14 323.22 15.08 0.72 0.11 3.28 21.23
including 317.00 323.22 6.22 1.19 0.18 5.84 27.80
G17-18 313.07 316.84 3.77 0.33 0.05 1.46 26.05
including 313.07 313.96 0.89 0.53 0.11 2.40 20.47

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