Vancouver, British Columbia – October 15, 2021 (Newsfile Corp.) (Investorideas.com Newswire) David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) (“EnGold” or the “Company”) reports that it has completed a 916.5 metre drill hole targeting the Ann North Alkalic Porphyry Copper Gold prospect. Hole AN21-02, angled at -70 degrees to the south, encountered visible chalcopyrite and bornite along fractures within strong potassic alteration to 400m downhole, followed by weaker sections, then intensifying deeper in the hole, including increasing magnetite to a depth 850m. Assays from the entire hole are pending. A vertical hole from the same setup is now underway to test the structure to the north.
A second drill mobilized to Lac La Hache is following up on DDH G1 18-42 that intersected a 58 m thick hybrid porphyry-copper style/semi-massive magnetite replacement style typical of G1 Deposit, grading 0.55% CuEq. Hole G1 21-52, now underway, is a 100m step out aimed at finding the porphyry source of the G1 mineralization and testing the large-scale Peach IP anomaly at depth.
“The Ann North drilling to date confirms we are in a classic Alkalic Porphyry copper gold environment,” said EnGold VP of Exploration Rob Shives, P.Geo. “The significant quartz veining accompanying the alteration and the presence of bornite with the chalcopyrite is encouraging, as is the increasing magnetite at depth.”
“We’ve assembled an excellent exploration team who are executing well on our aggressive Lac La Hache deep drilling exploration strategy,” said EnGold President and CEO David Brett. “We expect to be drilling throughout the fall and winter.”
Assays are also pending for the Road Gold Zone drilling and results will be announced as soon as they are available.
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 is a Vancouver-based copper, gold, silver, magnetite exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC which hosts the Spout Copper Deposit, the Aurizon Gold Deposit and the G1 Copper Deposit and other targets within a large porphyry mineralizing system. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring.
EnGold Mines Ltd.
President & CEO
For further info contact David Brett, 604-682-2421 or firstname.lastname@example.org
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Forward-looking statements include, but are not limited to, the expected use of proceeds of the financing. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which EnGold will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although EnGold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. EnGold does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
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