EnGold Wraps Up Successful 2016 Drill Program, Assays Pending
Vancouver, British Columbia--(Newsfile Corp. - December 21, 2016) - David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" and the "Company") reports that the Company has wrapped up its 2016 drill program totaling 3,851.5 metres of drilling in 12 holes, 11 of which targeted the Aurizon South Gold Structure. The Aurizon South is located within EnGold's 100% owned Lac La Hache Property located in BC's Cariboo region. Assays from 3 holes drilled in December are pending. Resumption of drilling is expected in February, 2017.
The final hole of the season (AZS16-62) reentered a previously drilled hole and commenced coring at 318.1 metres, targeting the Aurizon South structure at the deepest level drilled to date, and approximately 225 metres on strike to the south of previous deep testing of the zone. AZS16-62 encountered multiple mineralized zones, including a narrow visible gold bearing quartz vein located within a highly pyritized and silicified 2 metre interval of core. Below that, the Aurizon South hydrothermal breccia structure was intercepted as expected, yielding a 40 metre intercept of well mineralized material at a vertical depth of approximately 650-700 metres. Multigram gold assays were intersected in similar-looking rocks drilled previously to the north within the structure (AZS10-21 and AZS12-34). Reported intervals are core lengths and not true width, as true widths in this section have not yet been determined.
"Our 2016 program has not only significantly extended the Aurizon South on strike and down dip, we have discovered visible gold occurrences from surface to a depth of 550 metres," said EnGold President & CEO David Brett. "We are looking forward to the next phase of our drill program in Q1 2017, which is fully funded."
"The Aurizon South Gold Zone currently measures 400m along strike and extends to 700m depth. It remains open in all directions and potential remains high to continue to extend the structure, particularly to the south and down dip," said EnGold VP of Exploration Rob Shives, P.Geo. "Our geological model, supported by 2008 IP geophysical data, postulates a mineralized, deep seated intrusive and we hope to continue testing the gold-rich structures' depth potential in future drill campaigns."
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.
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. 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.
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.
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 david@engold.ca
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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