EnGold Discovers New Exploration Targets with Visible Gold at Lac La Hache, Assays Pending
Vancouver, June 11, 2020 - David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that the Company has identified visible gold in bedrock at two new exploration targets on the Company's 100% owned Lac La Hache Property in the Cariboo Region of Central BC (the "Property"). The new finds were made during prospecting of gold, polymetallic soil anomalies defined in 2019 within previously unexplored areas. Assays are being rushed and follow up work on the new zones is ongoing.
One of the new zones is located within the Aurizon West soil survey, 1100 m northwest of high grade, quartz vein-hosted, visible gold/copper at Aurizon South Deposit. The Aurizon West discovery contains multiple gold grains within a series of magnetite-pyrite-quartz-carbonate veins.
The other new zone was found while following up gold soil anomalies within the Jodie Grid, located 2300 m due west of the Aurizon South Deposit. Visible gold has been observed within narrow (~3 cm) intensely weathered veins containing limonitic clay gouge and quartz-pyrite-chalcopyrite, similar in appearance to the weathered portions of high-grade veins at Aurizon South.
"Our recent prospecting over the new soil anomalies commenced June 3 and has already produced two new occurrences containing visible gold within bedrock located in the Aurizon West and Jodie areas. " said Rob Shives, P.Geo., EnGold VP of Exploration. "We have not completed our prospecting in either area, or on several additional gold, copper and silver soil anomalies."
"The gold potential of Lac La Hache continues to grow," said EnGold President & CEO David H. Brett. "Finding visible gold at brand new showings is a very encouraging sign."
Other ongoing exploration work related to the property includes planned completion of the deep Ann North drill hole when ground conditions improve and completion of resource calculations at the Spout and G1 copper zones by SRK.
About EnGold
EnGold (www.engold.ca) is focused on exploring 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 shareholder and stakeholder value by discovering and developing mineral resources.
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
Contact: David Brett, 604-682-2421 or david@engold.ca
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results 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, future 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 guarantee future 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 applicable law.
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