VANCOUVER, July 4, 2018 /CNW/ - David H. Brett, President & CEO, EnGold
Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that
all three of the six planned drill holes completed to date at
EnGold's Lac La Hache Project have successfully intercepted the
targeted, previously untested copper-magnetite mineralization at
depth within the Spout Deposit. Assays are pending. The fourth hole
is now underway.
Three holes (SL18-179, SL18-180, SL18-181) have now been
completed at 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 along most of the 550m strike length. Two holes have been sampled
and are in the lab for analysis on a rush basis, with the third
hole now being prepped for shipment. Three additional holes
are planned to further test depth extensions to the Spout North
zone, with the fourth hole now underway.
"The continuity of the Spout North mineralization down-dip is
very encouraging," said EnGold VP of Exploration Rob Shives, P.Geo.
"Our goal with these significant step-outs is to add potential
tonnes to our planned recalculation of the Spout Copper resource
using an underground mining model."
The second phase of our summer 2018 drilling program will target
the 1800m 'Gap area" lying between
the exciting G1 discovery of 2017 and the Spout deposit. The
'Gap' is highly prospective for G1 style discoveries, having both
the correct geology and important geophysical (gravity, magnetic
and induced polarization) signatures. EnGold management
believes the discovery potential of this area should not be
understated.
"I consider the Spout Copper Deposit to be a key building block
for potential development at Lac La
Hache, " said CEO/President David
Brett. "We are also looking forward to the exciting
discovery potential of our next phase of drilling in the Gap
zone."
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.
EnGold Mines Ltd.
Per/
David Brett, MBA
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."
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Engold Mines Ltd.