VANCOUVER, July 4, 2018 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that all three of the six planned drill holes completed to date at EnGold's Lac La Hache Project have successfully intercepted the targeted, previously untested copper-magnetite mineralization at depth within the Spout Deposit. Assays are pending. The fourth hole is now underway.
Three holes (SL18-179, SL18-180, SL18-181) have now been completed at the vertical Spout North Zone, targeting down-dip extensions of known mineralization, to depths below 400m from surface, each encountering the structure as anticipated. Previous drilling at Spout North was completed to shallow depths of generally less than 100m along most of the 550m strike length. Two holes have been sampled and are in the lab for analysis on a rush basis, with the third hole now being prepped for shipment. Three additional holes are planned to further test depth extensions to the Spout North zone, with the fourth hole now underway.
"The continuity of the Spout North mineralization down-dip is very encouraging," said EnGold VP of Exploration Rob Shives, P.Geo. "Our goal with these significant step-outs is to add potential tonnes to our planned recalculation of the Spout Copper resource using an underground mining model."
The second phase of our summer 2018 drilling program will target the 1800m 'Gap area" lying between the exciting G1 discovery of 2017 and the Spout deposit. The 'Gap' is highly prospective for G1 style discoveries, having both the correct geology and important geophysical (gravity, magnetic and induced polarization) signatures. EnGold management believes the discovery potential of this area should not be understated.
"I consider the Spout Copper Deposit to be a key building block for potential development at Lac La Hache, " said CEO/President David Brett. "We are also looking forward to the exciting discovery potential of our next phase of drilling in the Gap zone."
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
For further info contact David Brett, 604-682-2421 or david@engold.ca
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."
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SOURCE Engold Mines Ltd.
