EnGold Lac La Hache Project Update
EnGold Lac La Hache Project Update
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2024) - David H. Brett, President & CEO,
EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports a number of updates with
respect to the Company's 100% owned Lac La Hache Copper Gold Project in the Cariboo region of
BC's southern interior (the "Property").
EnGold Granted 5-Year Exploration Permit for Lac La Hache
In the spring of 2023, the Company applied for and received in June a Multi-Year, Area-Based
exploration permit from the government of BC enabling EnGold to continue exploring the Property. The
five-year permit allows EnGold to proceed with extensive new drilling and other exploration activities until
2028.
"EnGold would like to acknowledge the support of local First Nations and the diligent efforts of
government experts in the permitting process," said EnGold President & CEO David H. Brett. "EnGold's
track record of early and proactive engagement with local communities, as well as a history of
environmental responsibility, will hopefully serve the Company well as we move the Lac La Hache
Project forward."
Tam Property Option Amendment
As
announced on February 19, 2020
, the Company entered into an option agreement to acquire a 100%
interest in the Tam Property (the "Agreement"), a block of claims near EnGold's Aurizon South Gold
Deposit, adjoining the Lac La Hache Project to the southeast. The Tam Property hosts a number of
prospective targets lying on-trend with the main 7- km exploration corridor that hosts the Spout, G1,
Aurizon & Ann North zones.
The vendor of the Tam Property and the Company have amended the Agreement, subject to the
acceptance of the TSX Venture Exchange, as follows:
1
.
The term of the option has been extended from 48 months to 60 months.
2
.
The original payments of cash and shares have been replaced with the following:
a
.
300,000 shares of EnGold forthwith upon TSX Venture Exchange acceptance.
b
.
On or before February 12
th
, 2025 400,000 shares of EnGold and $25,000 cash.
Exploration Priorities
As announced
March 6, 2023
, data analysis firm ALS GoldSpot delivered to EnGold the results of their
extensive information compilation, machine learning, and artificial intelligence research on prior Lac La
Hache exploration work. These results included multiple high priority targets both near existing mineral
deposits and new areas outside EnGold's concentrated work zones.
Of note, the ALS GoldSpot work identified a large area east of the Spout Copper Magnetite Deposit
with potential near surface mineralization similar to the "Spout South" mineralized zone. EnGold's
permitted work includes a series of shallow drill holes with setups located on existing logging roads.
"We are anxious to restart our drilling campaign at Lac La Hache," said EnGold VP of Exploration Rob
Shives. "We have been less active in the field due to challenging market conditions for juniors, but we
are confident that our compelling project will attract new funding to continue moving this exciting project
forward."
About EnGold
EnGold is a Vancouver-based copper, gold, silver, and magnetite exploration company focused solely
on its 100% owned Lac La Hache property in the Cariboo region of BC which hosts the Spout Copper
Deposit, the Aurizon Gold Deposit, and the G1 Copper Deposit and other targets within a large porphyry
mineralizing system. With world-class infrastructure at its doorstep, Lac La Hache is a great location to
be exploring.
EnGold Mines Ltd.
David Brett
President & CEO
For further info contact David Brett, 604-682-2421 or
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