Vancouver, British Columbia--July 6, 2020 - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) "EnGold" or the "Company") reports that assays from a number of newly identified gold targets within the Company's 100% owned Lac La Hache Property in the Cariboo Region of Central BC have returned gold values ranging from anomalous to 9.65 gpt gold. A total of 67 bedrock grab samples were collected in early June during the initial follow-up to new B-soil gold anomalies identified in 2019 geochemical surveys. Highlights are provided in a series of images here.
Prospecting along the northernmost end of the Aurizon South Deposit within drill-road ditch exposures produced a 30m wide section (to date, more prospecting is required) where all 8 bedrock grab samples of limonitic gouge surrounding narrow quartz veins assayed anomalous gold values (9.65, 1.48, 1.38, 1.34, 1.3, 1.2, 0.8, 0.6 gpt gold). A single gold pan of one of these veins produced over 20 minute gold grains. This new at-surface zone of quartz veins lies 160 m north of similar veins drilled in 2018-19, where very high gold values up to 263 gpt gold were assayed in bedrock grab samples on surface.
Figure 1: Results Along 7790N Lac La Hache Property
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2268/59164_77939d7094d81b4c_002full.jpg
In the Jodie area, intensely weathered limonitic quartz-pyrite-chalcopyrite fractures within potassically altered monzonitic host rocks assayed 2.83 grams per tonne (gpt) gold, and an unusual, intensely altered (intrusion?)-breccia containing minute visible gold specs assayed 4.8 gpt gold. These results explain the highest B-soil value of 662 ppb gold at Jodie, and other anomalies remain to be prospected there.
Within the large Aurizon Zone West soil grid, initial prospecting of the highest B-soil gold value (1400 ppb) produced relatively low gold values less than 0.2 gpt gold, but another site yielded 5.2 gpt from red-brown rusty limonite-epidote-altered quartz veins containing pyrite. This site lies more than 700 m west-northwest of the Aurizon South Deposit.
"We believe the new quartz veins discovered at the north end of the Aurizon South Deposit represent brittle fracturing in the hanging wall, well above the more intense hydrothermal breccia which hosts the gold-copper-silver resource," said Rob Shives, P.Geo., EnGold VP of Exploration. "We previously found that the width and metal tenors of the breccia diminished in the upper 150 meters or so, so the possibility that the gold-related silicification extends upwards into the overlying host intrusion at surface offers additional potential. We look forward to sampling more veins, and hope to extend the zone to the east."
"Finding new gold-bearing structures at surface based on visual anomalies in road cuts is reshaping our exploration approach in the Aurizon area," said EnGold President & CEO David H. Brett. "The many logging access roads in the area are receiving a fresh look."
Update on Ann North Drilling
Recent high rainfall and flooding in central BC has delayed the Company's resumption of deep drilling at the Ann North prospect. Initially suspended at 604 m depth due to Covid-19 concerns and wet ground conditions, an unseasonably wet June has intensified in July and as such the planned drilling remains contingent on improved weather conditions to allow access to the site.
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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