Exploration Update: Drill Core, Soil & Rock Assays Pending
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Exploration Update: Drill Core, Soil & Rock Assays Pending
For Immediate Release. October 7, 2019. Vancouver, BC. David H. Brett, President &
CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that assay
results are pending for 2 d rill holes targeting the Aurizon Gold structure, 1500 soil
samples collected at Scorpio , Aurizon West, Jodie and 8000 prospects and 91 bedrock
samples collected across the 100% owned Lac La Hache Property in the Cariboo region
of BC. Both Aurizon holes (AZS19-80, 81) intercepted the mineralized Aurizon structure
at nominal 25 and 50 meter step -outs to the north of discovery hole AZS08 -07, which
cut 14m grading 10.4 gpt Au, 1.46 % Cu & 7.2 gpt Ag in potassically altered,
hydrothermal breccia and related fractures within the host monzonitic intrusion. Assays
for 64 samples from both holes are pending. Targeting and timing of the next series of
drill holes will be determined and announced following disclosure of the se new assays.
Intercepts are core length s and not true widths as the true width at the point of
intersection has not yet been determined.
The soil sampling program consisted of 4 separate grids. One grid targeted porphyry
copper/molybdenum potential at the Scorpio Zone in the north part of the Property,
where historical, wide-spaced, Ah-soil sampling indicated a 5 km long highly anomalous
molybdenum trend. Prospecting in this completely unexplored area earlier this year
found several outcrop areas with visible molybdenum, bornite, chalcopyrite, powellite,
scheelite & pyrite along fractures with potassically altered borders. The host rocks are
within the large Murphy Pluton. Assays for a pproximately 500 new B -soil samples and
rocks collected during prospecting at Scorpio will significantly refin e the geochemical
patterns, providing focus for additional work. Detailed sampling (25m sites along 25 m
lines) was also completed at Aurizon West , an unexplored soil -gold trend which lies
west of the strong Aurizon gold trend , and may represent a new Au -mineralized
structure. Assay results from all four areas are pending.
In other news, the closing of the of the final tranche of the previously announced flow-
through share offering at $0.11 (4,545,455 flow -through shares at $0.11 per share)
announced June 24th, 2019), expected to close prior to October 3 rd, 2019 , has been
extended to a closing date no later than November 3, 2019.
About EnGold
EnGold (www.engold.ca) is focused on exploring its 100% owned mineral propert y
located near the town of Lac La Hache in BC’s prolific Cariboo mining region. EnGold’s
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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.
Engold Mines Ltd.
Per/
David Brett, MBA
President & CEO
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 nu mber of known and
unknown risks, uncertainties and other factors that may cause actu al res ults 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, fut ure 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 guaran tee fu ture results, levels of activity, performance or
achievements. EnGold disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future
events or otherwise, except as may be required by applic able law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.