VANCOUVER, Oct. 25, 2018 /CNW/ - David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports encouraging gold values in bedrock grab samples, up to 25.6 gpt gold, from a recently discovered quartz-rich, well mineralized structure near the Aurizon South Gold deposit on the Company's 100% owned Lac La Hache copper, gold, silver property in the Cariboo region of BC. Bedrock grab samples collected along a 50 metre strike length exposed to date returned multigram gold values of 3.3, 4.8, 5.2, 10.0, 11.3, 18.4. 23.0 and 25.6 and up to 3.97% copper. The results support additional surface work at Aurizon, as well as shallow drilling to extend surface results laterally and to depth. See table below for full assay results. A map showing the location of the results can be found on the Company's website here: https://www.engold.ca/projects/maps-images/
Analytical results have now been received for all B-soil samples collected recently over the Aurizon South Gold Deposit. New soil gold anomalies are indicated in 7 areas where no previous disturbance or drilling has occurred, lying upslope from the drilling at Aurizon. The first and largest amplitude of these anomalies is located approximately 50 m southwest (upslope) of the original quartz-gold-copper-silver vein discovered in 2016. As reported on Oct 10, 2018, prospecting here successfully uncovered a deeply oxidized, quartz-pyrite-chalcocite-native copper bearing structure along a 50m (to date) strike.
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EnGold Mines Ltd |
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Lac La Hache Project |
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Aurizon Gold Deposit Area |
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New B-soil Au Anomaly |
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Selected Outcrop Grab Sample Assays |
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Sample No. |
Au (gpt) |
Ag (gpt) |
Cu (%) |
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S325919 |
25.6 |
14.2 |
0.229 |
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S325925 |
23 |
9.4 |
1.26 |
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S325926 |
18.4 |
27.2 |
3.97 |
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S325923 |
9.32 |
3.4 |
0.0281 |
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S325915 |
5.24 |
2.6 |
0.42 |
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S325920 |
4.75 |
8 |
0.66 |
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S325922 |
3.29 |
1.4 |
0.0805 |
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S325924 |
2.83 |
3.3 |
0.26 |
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S325921 |
0.522 |
3.2 |
0.659 |
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S325914 |
0.201 |
0.5 |
0.0625 |
"We designed and conducted the recent B-soil survey to detect anomalies related to the visible-gold-bearing vein discovered in 2016, with hopes that more bedrock mineralization would be indicated," said EnGold VP of Exploration Rob Shives. "This certainly is the case, resulting in at least 7 targets worthy of additional prospecting, and contoured patterns that support interpretation of the known vein to the southeast towards the main Aurizon Gold structure. Prospecting over the first of these anomalies has produced well mineralized samples, so we anticipate positive results elsewhere."
"These exciting results underscore the potential of the Lac La Hache property to host multiple mineral deposits or different kinds," said EnGold CEO David Brett. "We're looking forward to aggressively exploring this new gold zone as we continue to move the G1 and Spout copper targets forward."
IP Results
Full results of the fall 2018 IP survey at Lac La Hache have now been received. Interpretation is nearing completion and announcement of the results is expected soon.
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
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." 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.
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