VANCOUVER, BC / ACCESSWIRE / March 22, 2017 / David H. Brett, President & CEO, EnGold Mines Ltd. (TSX-V: EGM), ("EnGold" or the "Company") reports additional assays from the bottom of discovery hole G16-01 and that the Company has completed the second of several planned follow-up drill holes. The Company is moving a second drill rig from Aurizon to the new area, and has commenced detailed gravity surveying.
As previously reported (March 1, 2017), DDH G16-01 targeted a large new gravity/magnetic anomaly located within an unexplored part of the Project, located approximately 1.8 km from the known mineralization at Spout Deposits. The new hole encountered 1.76% copper, 0.27 grams per tonne (gpt) gold, 10.29 gpt silver, and 35.8 % iron over 26.57 meters, including a 14 m thick interval exceeding 2 % copper, as shown in Table 1 below.
Additional assays have been received for the lower portion of the discovery hole, from a narrow but high grade zone located approximately 59 meters below the main zone. Results are shown in Table 2 below. The lower zone contains 5.66 meters grading 1.14 % copper, 0.23 gpt gold, 5.1 gpt silver, and 19.7 % iron, from 416 m to 421.66 m. Within that interval was a 1 meter zone grading 4.49% Cu, 0.94 gpt Au, 17.1gpt Ag, and 44% Fe. Mineralization occurs as chalcopyrite and magnetite hosted by a fine grained, finely laminated, relatively flat-lying, mafic volcanic-derived sediment. The magnetite, chalcopyrite, and pyrite become massive between 418.53 and 419.53. Minor bornite mineralization was also noted.
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Table 1: Previously Reported drill core assays (March 1 2017), DDH G16-01 |
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|
DDH |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
Fe (%) |
|
G16-01 |
337.30 |
363.87 |
26.57 |
1.76 |
0.27 |
10.29 |
35.8 |
|
including |
343.00 |
357.00 |
14 |
2.09 |
0.27 |
12.34 |
36.4 |
|
Table 2: NEW, ADDITIONAL ASSAYS drill core assays for DDH G16-01 |
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|
DDH |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
Fe (%) |
|
G16-01 |
416.00 |
421.66 |
5.66 |
1.14 |
0.23 |
5.1 |
19.7 |
|
Including |
418.53 |
419.53 |
1.00 |
4.49 |
0.94 |
17.1 |
44 |
The second of a series of 6 holes planned to test extension of the mineralization intersected in the discovery hole has been completed. Hole G17-02, located 71 m northwest of G16-01 encountered the upper and lower mineralized strata at similar depths, respectively, as the first hole. Visually, the main zone appears to be approximately 6 m thick. Magnetite and chalcopyrite display similar textures as in G16-01, but overall amounts appears less. The lower zone also appears within the same, lower strata as the first hole. Assays for DDH G17-02 are pending.
Planned holes G17-03 and G17-04 will be collared as 50 m step-outs from G16-01.
"We are quite pleased that the host stratigraphy demonstrates the predicted continuity between the first two holes. The large gravity anomaly will be better defined by ongoing detailed gravity surveys, providing additional guidance as we continue testing grade tenors within the stratabound, skarn-style mineralization," said VP of Exploration, Rob Shives, P.Geo. "As is typical of skarn-style mineralization, variability of intensity and extent of enrichment is normal, and we expect several additional drill holes will be required to better understand the geometry of the impressive discovery zone."
Drill results reported occur in holes drilled vertically through stratigraphy with consistent, near-horizontal bedding. As the mineralization has demonstrated stratigraphic control (strataform), EnGold believes the widths reported are essentially true widths.
About EnGold
EnGold is focused on finding and developing mining operations at 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, and commitment to transparent engagement with local communities, the Company is dedicated to driving exceptional shareholder and stakeholder value by discovering and developing mineral resources.
About the Lac La Hache Property
The advanced stage property lies within BC's Quesnel Trough mineral belt, which hosts several past and currently producing copper/gold/silver mines, including nearby Imperial Metals' Mount Polley copper-gold mine and New Gold Inc.'s New Afton copper-gold mine. The Company has drilled numerous prospects on the property, including Spout copper-magnetite-gold-silver deposit (for which a resource calculation has been reported and supported by an NI43-101 Technical Report), the gold-rich Aurizon gold-copper-silver prospect and recent new discoveries with porphyry and skarn copper/gold potential. EnGold is currently focused on evaluation of its Aurizon Gold (gold-copper-sliver) prospect, where drilling continues to extend the host structure and gold-rich grades, and on the new copper-magnetite-gold-silver discovery. Supported by significant local infrastructure, including powerlines, all season road access, rail, and other amenities, the Lac La Hache project demonstrates excellent logistics for resource extraction.
Quality Control/Quality Assurance Program
EnGold Mines Ltd. follows procedures which ensure sample security, chain of custody and Quality Assurance/Quality Control for all drilling and geochemical sampling, conforming to industry practices defined by Canadian Institute for Mining, Metallurgy (CIMM) standards, and required for TSX-listed companies by National Instrument 43-101.
All core was logged and photographed. Sampled intervals were sawed in half, bagged, sealed, and transported securely to ALS Canada Ltd for analyses. Half-gram samples were digested with aqua regia acid then analysed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) for 35 elements (ME-ICP41). A 30 gram split is analyzed for gold (Au-AA23) by fire assay with an AA finish. As part of our comprehensive QA/QC program, a blank sample, one standard, and one in-line replicate were inserted into the sample stream in each group of approximately 20 samples.
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 [email protected]
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.