EnGold Intersects 3.3% Copper Over 8.8m at Depth Within Spout North Zone
VANCOUVER, July 12, 2018 /CNW/ - David H. Brett, President & CEO, Engold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports assay results from the first three of six drill holes designed to test copper-magnetite mineralization at depth within the Spout Copper Deposit. DDH SL18-181 encountered an 8.8m intersection grading 3.26 % copper, 0.83 gpt gold, 16.9 gpt silver and 26.7 % Fe. Drilling at Spout North continues.
As announced July 4, three holes (SL18-179, SL-180, SL-181) tested the vertical Spout North Zone, targeting down-dip extensions of known mineralization, to depths below 400m from surface, each encountering the structure as anticipated. Previous drilling at Spout North was completed to shallow depths of generally less than 100m. These three new holes span 250m of the currently defined 550m strike length. Assays are tabulated below. A new drill plan map showing hole locations is available here (https://www.engold.ca/projects/maps-images/)
The mineralization is typical of the North Zone, with chalcopyrite (with gold and silver) occurring as coarse replacement blebs associated with semi-massive magnetite, and as late chalcopyrite veins. Assays are highlighted in DDH SL18-181 by an 8.8m intersection grading 3.26 % copper, 0.83 gpt gold, 16.9 gpt silver and 26.7 % Fe, including a 1.6m core interval grading 4.4 % Cu, 0.71 gpt Au, 20.9 gpt Ag and 40.4 % Fe. Reported intercepts are core lengths and not true width, as the true width of the structure has not yet been determined at the depths drilled.
| DDH | NAD 83 Zone 10 | Elev. | Collar | Collar | EOH | Drill Core Depth (m) | Copper | Gold | Silver | Iron | ||||
| Northing | Easting | (mASL) | (deg.) | (UTM) | (m) | From | To | Interval | Cu (%) | Au | Ag | Fe (%) | ||
| SL18-179 | 5761150 | 611655 | 1130 | -75 | 040 | 557.5 | 336.00 | 341.15 | 5.15 | 1.07 | 0.24 | 4.17 | 24.03 | |
| incl. | 339.10 | 341.15 | 2.05 | 1.92 | 0.46 | 7.10 | 37.10 | |||||||
| SL18-180 | 5761053 | 611805 | 1143 | -75 | 040 | 533.1 | 64.30 | 65.60 | 1.30 | 0.72 | 0.09 | 2.90 | 18.70 | |
| 460.43 | 463.83 | 3.40 | 1.81 | 0.47 | 8.92 | 18.03 | ||||||||
| SL18-181 | 5761160 | 611563 | 1143 | -72 | 040 | 454.5 | 419.80 | 428.60 | 8.80 | 3.26 | 0.83 | 16.9 | 26.7 | |
| incl. | 427.00 | 428.60 | 1.60 | 4.39 | 0.71 | 20.9 | 40.4 | |||||||
"We are pleased that the down-dip continuity within Spout North is as we'd anticipated, with vertical step-outs up to 300m below previous drilling" said EnGold VP of Exploration, Rob Shives, P.Geo. "These are some large step-outs and could significantly increase tonnages."
As previously announced, a second phase drilling program will target the highly prospective 1800m 'Gap area' lying between the exciting G1 discovery of 2017 and the Spout deposit.
"The high grades we are seeing at depth at Spout North support a new resource estimate based on a high-grade, underground model," said CEO David Brett. "We are looking forward to an exciting summer of exploration at Lac La Hache."
About EnGold
EnGold is a Vancouver-based copper/gold exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC. EnGold's vision is to identify and delineate mineral resources at Lac La Hache that could potentially support an economically feasible and environmentally sustainable underground mining operation. The Spout Deposit, the Aurizon Gold Zone and the 2017 G1 Discovery, located within a 7-kilometer area on the property, are all considered by EnGold to be potentially underground minable targets. EnGold's significant new copper discovery in 2017 adds to the already extensively drilled Spout Copper Deposit and Aurizon Gold zones. Discovery potential for new high-grade zones remains strong, and existing areas are open for expansion. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring. 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 fulfilling its vision to profitably supply valuable and much needed metals to the global marketplace.
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.
David Brett, President & CEO
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." 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.
SOURCE Engold Mines Ltd.
Contact
David Brett, 604-682-2421 or david@engold.ca
