EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that Road Gold Zone drill hole R20-2 intersected 4.3 gpt AuEq (3.86 gpt Au, 0.35% Cu, 1.20% Ag) near the bottom of the 111.86 m hole. Hole R20-2, intended to intersect a gold-copper-silver mineralized
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EnGold Lac La Hache Drilling Intersects 2 metres of 4.3 gpt Gold Eq at Road
Gold Zone
For Immediate Release. January 5, 2020. Vancouver, BC. David H. Brett, President & CEO,
EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that Road Gold Zone
drill hole R20-2 intersected 4.3 gpt AuEq (3.86 gpt Au, 0.35% Cu, 1.20% Ag) near the bottom of
the 111.86 m hole. Hole R20-2, intended to intersect a gold-copper-silver mineralized
hydrothermal breccia structure identified on surface, was abandoned due to intense faulting
prior to intersecting the target, but nevertheless returned highly anomalous gold mineralization
in intense stockwork fracturing and localized quartz veining, chalcopyrite, and pyrite within
highly K-altered monzonite. The Road Gold Zone is located within a 10 km prospective trend
within EnGold’s 27,559 hectare Copper/Gold Lac La Hache Property in the Cariboo region of
British Columbia. The reported intervals for the Road Gold prospect are core-length only, as the
geometry of the zone has not yet been determined. A full table of the assay results is inserted
below. Results from holes G20-50 & G20-51 in south of the G1 Copper Zone are expected to
be released shortly.
“Although intense faulting twice prevented completion of a hole designed to test the new Road
Gold Zone, both holes confirmed that the coincident, strong and long magnetic low linear relates
to intense faulting and potassic alteration, similar to the Aurizon Deposit,” said Rob Shives, VP
Exploration. “We will return to the Zone in 2021 using larger diameter HQ drill rods to improve
core recovery and allow completion of the drilling to target depth.”
Road Gold Zone
DDH From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Gold Eq.*
R20-1 Abandoned at 58 m due to intense faulting. Collar moved, restarted as DDH R20-2.
Anomalous gold assays up to 0.244 gpt (0.34 gpt AuEq) encountered below 43 m
R20-2 This hole also abandoned, at 111.86 m due to intense faulting.
18.00 21.76 3.76 0.12 0.64 0.85 0.80
66.00 68.00 2.00 0.06 0.50 0.60 0.58
82.00 84.00 2.00 0.05 0.26 0.50 0.33
100.00 102.00 2.00 0.35 3.86 1.20 4.30
* AuEq calculation: Au g/t = Au g/t + (Cu grade in % x ((Cu price per pound/Au price per ounce) x 0.06857 pounds per ounce x
10000 g per %)) + Ag grade x (Ag price per ounce/Au price per ounce)). Prices used in USD: Au $1,850.00, Cu $ 3.25, Ag $ 25.00.
“These results confirm that the Road Gold structure has excellent gold exploration
potential,” said EnGold CEO David Brett. “We are now in the planning phase of our
next drill program for this promising new area of the property.”
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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
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Contact: David Brett, 604-682-2421 or [email protected]
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
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events or otherwise, except as may be required by applicable law.
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