VANCOUVER, March 26, 2018 /CNW/ - David H. Brett, President & CEO, EnGold
Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that
EnGold is preparing to commence its 2018 drill program at its 100%
owned Lac La Hache Property ("LLH") in the Cariboo region of BC on
or before March 29th,
2018. The first series of holes will focus on the G1 Copper
Zone.
Geophysical surveys near the G1 Copper Zone continue and
interpretation of the significant amounts of data obtained in 2017
and 2018 is ongoing. Results and conclusions arising from this
continuing analysis will be disclosed and discussed when
available.
Based on analysis of the data collected to date, EnGold
management believes the 1.8km undrilled "Gap" between the Spout
Copper Deposit and the G1 Copper Zone is highly prospective for
significant additional high-grade copper mineralization. During the
last twelve months, in addition to 16,197 metres of drilling,
EnGold has collected gravity geophysical data from 1,815 ground
stations, flown 329km of closely spaced airborne gravity and
magnetic surveys, completed a LIDAR survey over most of the
property, and reexamined dozens of past drill logs. Processing and
interpretation of the data is ongoing.
"The 2017 G1 Copper Zone was a game changer for EnGold, and we
believe more exciting discoveries at Lac
La Hache are possible in 2018," said EnGold President &
CEO David Brett. "We're aiming to
move the project forward as aggressively as we can this
year."
Rob Shives, EnGold VP Exploration
stated: "Drill cores from the G1 Zone have been displayed at
several venues since discovery (Kamloops Exploration Group
Conference 2017, Minerals South Conference 2017, Vancouver Resource
Investment Conference 2018, Vancouver Exploration Roundup 2018, and
the Prospectors and Developers Conference Toronto 2018), prompting
many comparisons with typically large, Iron-Oxide-Copper-Gold
(IOCG) deposits. Regardless of genetic origin, the geological
setting and carbonate replacement style offer strong potential for
multiple similar depositional sites, over a large area within the
project. G1 Zone serves as a geophysical test case as we seek to
infill/extend that zone and explore high-priority areas with
similar positive gravity and magnetic signatures such as the
G1-Spout Deposit "Gap". I look forward to an exciting 2018
exploration program."
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.
Per/
David Brett, MBA
President & CEO
This news release may contain
"forward‐looking statements". Readers are cautioned
that any such statements are not guarantees of future performance
and that actual development or results may vary materially from
those in these "forward looking statements."
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.
SOURCE Engold Mines Ltd.