EnGold Intersects 1.13 % Copper Over 18.75 Metres Airborne Data Encouraging Field Exploration Remains Paused Due to Fire Hazard New CFO Appointed
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EnGold Intersects 1.13 % Copper Over 18.75 Metres
Airborne Data Encouraging
Field Exploration Remains Paused Due to Fire Hazard
New CFO Appointed
For Immediate Release. August 8, 2017. Vancouver, BC. David H. Brett, President & CEO,
EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that drill hole G17-23,
located 112 metres west-southwest from discovery hole G16-01 has intersected 18.75 metres
grading 1.13 % copper, 0.14 gpt gold, 5.55 gpt silver and 26.23 % iron. Although the geometry
of the mineralization has yet to be determined, this hole significantly extends the zone to 250
meters from recently announced G17-16 (43.45 m grading 1.31% copper, 0.20 gpt gold, 4.06
gpt silver & 31.14% iron). Assay results have also been received for drill holes G17-18 through
22 and are tabulated below. All results reported are believed to be true width.
Mineralization within DDH G17-23 is typical of the skarn replacement style defined by earlier
drilling in the discovery area, with magnetite-chalcopyrite replacement of calcsilicate-tourmaline
altered basaltic polylithic volcanic breccia containing subrounded, partially digested clasts (up to
6cm), locally including limestone. Several well mineralized intervals (see assay table) are
separated by narrow intervals of dark green, pyroxene-phyric mafic volcanic flows containing
only traces of chalcopyrite. Results demonstrate the strong lithological control on this stratiform
mineralization. See latest drill collar map for hole and zone intersection locations.
DDH From
(m) To (m) Interval
(m) Cu (%) Au (g/t) Ag (g/t) Fe (%)
G17-18 313.07 316.84 3.77 0.33 0.05 1.46 26.05
including 313.07 313.96 0.89 0.53 0.11 2.40 20.47
G17-19 306.30 307.34 1.04 0.97 0.14 4.20 25.00
G17-20 not sampled
G17-21 no significant assays
G17-22 220.00 222.60 2.60 0.31 0.05 1.13 9.15
G17-23 351.20 369.95 18.75 1.13 0.14 5.55 26.23
including 351.20 356.05 4.85 1.42 0.15 9.13 37.48
including 352.00 354.00 2.00 1.69 0.20 13.50 36.70
including 361.76 363.05 1.29 5.44 0.54 19.80 30.80
including 363.81 365.03 1.22 1.37 0.47 5.70 28.00
including 366.35 367.95 1.60 1.46 0.26 7.00 26.00
The Company has been notified by the BC Ministry of Forests, Land and Natural Resources that
exploration activities at the Company’s Lac La Hache Property may not resume until further
notice due to the extreme fire danger rating within the project area. Although no fires are
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burning on or close to the Property, and evacuation orders have recently been lifted for nearby
communities such as Williams Lake and 100 Mile House, the reported fire danger level remains
at the highest level within the project area, requiring EnGold to cease field work. Under the BC
Wildfire Act, High Risk Activities, including drilling and other exploration work, must be curtailed
when reported fire risk reaches certain levels. When the highest fire danger level of 5 is reported
for 3 consecutive days, operations must cease. The Company is closely monitoring fire and
weather data with a view to resuming activities as soon as it is safe and prudent to do so.
EnGold received the final airborne geophysical data on August 1. Preliminary results indicate
positive gravity anomalies over the discovery area and in several new, previously unexplored
areas. A more rigorous evaluation is underway. Also, EnGold recently completed a high-
resolution LIDAR and orthophoto survey of the Property, which will further enhance the
Company’s ability to plot and target drill data to maximize potential rates of success.
“Our technical team is working with the ground gravity and airborne survey contractors and
geophysical consultant Trent Pezzot, to fully integrate and interpret all layers, for selection of
best exploration drill targets, when we are permitted to resume activities on the project,” said VP
of Exploration Rob Shives. “Although no work on the ground is proceeding at this time,
exploration activity is ramping up significantly on the desktops of our geological and geophysical
experts.”
“Although road closures, power outages and other access issues are abating in our area, the
extremely dry and hot conditions in the woods persist,” said EnGold President and CEO David
Brett. “2017 has been a transformational year for EnGold so far and our team is working hard to
deliver exceptional value to all our stakeholders throughout the rest of the year.”
EnGold is also pleased to report the appointment of Mr. Alastair Brownlow as the Company’s
new Chief Financial Officer (“CFO”), replacing former CFO Dale Reimer, who remains a director
of EnGold. Mr. Brownlow is a Chartered Professional Accountant and a U.S. Certified Public
Accountant (Washington) with significant public company experience who has specialized in the
mineral exploration and development field in Canada and throughout the world. Mr. Brownlow
also has a Bachelor of Business Administration degree from Simon Fraser University. In
connection with the appointment, the Company has agreed to grant 200,000 incentive stock
options at $0.40 per share for up to four years. The options will be subject to vesting restrictions,
whereby the options will vest one-third per year commencing 12 months following the date of
grant. The options will also expire one-third per year commencing 24 months following the date
of grant.
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 sent 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 by fire assay with a
gravimetric finish (ME-GRA21). Copper values exceeding 1 percent were analyzed using aqua
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regia digestion with an ICP-AES finish (ME-OG46) to improve accuracy and precision at higher
grades. As part of our comprehensive QA/QC program, one standard, one blank and one in-line
replicate were inserted into the sample stream in each group of approximately 20 samples in
each analytical batch.
About EnGold
EnGold 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 exceptional 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
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
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