EnGold to Recommence Drilling at New Discovery Area by March 13th Expanded Gravity Survey Planned Drilling at Aurizon Gold Ongoing
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EnGold to Recommence Drilling at New Discovery Area by March 13th
Expanded Gravity Survey Planned
Drilling at Aurizon Gold Ongoing
For Immediate Release. March 7, 2017. Vancouver, BC. David H. Brett, President & CEO,
EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that a second drill is
mobilizing to follow up on a recently announced discovery drill hole and is expected to be set up
and drilling in the new area on or before March 13th. As reported March 1, 2017, hole G16-01
targeting a gravity geophysical anomaly encountered 1.76% copper, 0.27 grams per ton gold,
10.29 g/t silver and 35.8% iron over 26.57 meters (true width) in a previously undrilled area of
the Company’s 100% owned Lac La Hache Property in the Cariboo region of BC. Within this
interval, a 14m thick interval exceeds 2% copper. The skarn-type mineralization is located 1.8
km southeast of the existing copper-gold-silver-magnetite resource defined at the Spout
Deposit.
“The effectiveness of the gravity data, combined with our excellent knowledge of the geology of
the property, is enabling EnGold to confidently target its next round of drilling,” said EnGold VP
Exploration Rob Shives, P. Geo. “We are looking forward to stepping out from the discovery
hole in this exciting new area of the Lac La Hache Property.”
The second drill will focus on the 1 km X 1.4 km gravity geophysical anomaly that prompted the
discovery hole. EnGold has requisitioned an expanded and more detailed gravity survey that is
expected to commence mid-March. The new gravity work will test for extensions of the anomaly,
help guide drilling at the new discovery, as well as test for similar gravity anomalies on other
parts of the property.
“EnGold is moving quickly to mobilize capacity to explore this exciting new discovery,” said
EnGold President & CEO David Brett. “We are well positioned to move forward aggressively
and expect the next several months to be very active for EnGold.”
Vertical drill hole G16-01 intersected semi-massive magnetite-chalcopyrite (minor pyrite) skarn
type mineralization over a true width exceeding 26 meters. The mineralization appears
stratabound, occurring within sub-horizontal, skarned Nicola volcanoclastic rocks interpreted as
the possible down-dip extension of Spout host rocks. The mineralogy and textures of the
mineralized zone also appears very similar to Spout Deposit mineralization.
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, commitment to transparent engagement with local
communities, the Company is dedicated to driving exceptional shareholder and stakeholder
value by discovering and developing mineral resources.
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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.
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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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.