Vancouver, British Columbia--(Newsfile Corp. - March 4, 2020) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that drilling is now underway at EnGold's 100% owned Lac La Hache Property in the Cariboo Region of Central BC. The Company's first hole of 2020 will be the deepest in the history of the property, with a planned depth of 800 metres. Encouraging results from past shallow drilling, geophysical data and geological modeling indicate potential for a gold-rich alkalic copper porphyry source at depth. Drilling of this hole is expected to continue through most of March 2020.
As announced January 30, 2020, the hole will be the first to test for deeper "roots" to the many prospects and near-surface deposits which collectively define a large alkalic porphyry system spanning more than 7 km from Spout to Aurizon Deposits. The Ann North prospect is central to this system and contains mineralized, silica-saturated, quartz monzonite intrusive phases which host mineralized hydrothermal breccias and gold-rich quartz veins (e.g. previously unreported DDH AN04-21 cut a 1.2m core interval (true width unknown) grading 3.8% Copper and 47gpt Gold). Many of the geological/geophysical attributes of the Lac La Hache system appear very similar to well-known systems elsewhere, such as those within the Cadia-Ridgeway deposits in Australia, Red Chris Deposit in northern British Columbia and others.
"Testing the deeper potential at Lac La Hache adds an exciting new dimension to EnGold's more established zones like Spout, G1 and Aurizon Gold, which are in the resource definition stages" said EnGold CEO David Brett. "We're also looking forward to exploring in Spring 2020 the many new gold anomalies discovered in our 2019 soil surveys."
Figure 1Ann North Target
To view an enhanced version of Figure 1, please visit:
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About EnGold
EnGold (www.engold.ca) is focused on exploring its 100% owned mineral property located near the town of Lac La Hache in BC's prolific Cariboo mining region. 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 shareholder and stakeholder value by discovering and developing mineral resources.
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
Contact: David Brett, 604-682-2421 or david@engold.ca
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and failure to obtain regulatory approval in a timely manner. Forward-looking statements in this release include statements regarding plans to raise financing for operations, future exploration programs and operation plans and anticipated timing for completion of the next tranche of the financing. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. EnGold disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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