VANCOUVER, Aug. 23, 2018 /CNW/ - David H. Brett, President & CEO, EnGold
Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that
the second drill hole (GP18-42) of the Company's current campaign
testing new geophysical targets within the "Gap Area" encountered a
63 m mineralized intersection.
GP18-42 core lengths are not true widths as the geometry of the new
zone has not yet been determined.
The current Gap Area drilling is targeting combined results from
ground gravity, deep IP and magnetic surveys. Positive deep IP
responses have been observed over mineralization at both Spout
Deposit and G1 zone. and now, have been confirmed more than 200
metres southeast of the G1 discovery hole G16-01 (previously
announced, 26.6 m grading 1.76 % Cu,
0.27 gpt Au, 10.29 gpt Ag, 35.8 % Fe, including 14.0 m grading 2.09 % Cu, 0.27 gpt Au, 12.34 gpt
Ag and 36.4 % Fe).
The mineralized interval in GP18-42 (486-549 m), displays replacement style
chalcopyrite-pyrite-magnetite which validates the modeled
geophysical patterns.
"We are now confident that the IP is responding reliably to the
carbonate-replacement/skarn style mineralization in three slightly
different host-rock scenarios, at Spout South, G1 and GP18-42,"
said EnGold VP of Exploration Rob Shives, P.Geo. "Planned new IP
surveying will ensure that anomalies lying off the existing test
line are defined, including the extents of the strong G1
chargeability anomaly, now intersected 216
m away from the G1 discovery."
Core processing continues for both completed holes. A third hole
has been collared to test high gravity and magnetic patterns
approximately 370 m northwest of DDH
G17-16.
"Identifying new mineralization over significant widths south of
G1 Copper is very encouraging," said EnGold President & CEO
David Brett. "The drill core as
observed confirms that the Spout-G1 corridor has excellent
potential for discovery and expansion of known copper-rich
zones."
Image illustrating selected "gap area" targets are located
here:
https://engold.ca/projects/maps-images/ Hole GP18-42
corresponds to location "J" on the Gap Area drill-plan map.
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.
David Brett, 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.