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    EGM   CA29330R3080


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

EnGold Drilling at Lac La Hache Underway, Assays Pending

09/15/2021 | 09:30am EST

Vancouver, British Columbia--(Newsfile Corp. - September 15, 2021) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that drilling at its 100% owned Lac La Hache Copper Gold Property in the Cariboo region of BC commenced September 10th. A 175 metre hole at the Road Gold Zone is complete with follow up drilling there pending assay results. The drill has now commenced drilling at the Ann North alkalic porphyry target where a series of deeper, 800m - 1000m drill holes are planned.

Previously, NQ core drilling at Road Gold was hampered by highly broken ground conditions caused by the strong faulting and alteration associated with the gold-copper-silver mineralization. R21-04 was successfully competed using HQ drill rods, cutting below hole R21-03, including the 7.5 gpt gold assay (over 1.5 m core length) cut at the bottom of that hole. The new hole has intersected similar strong potassic alteration with several hydrothermally brecciated and fractured zones with narrow quartz veins. Sampling is in progress, assays pending.

The drill has been moved to Ann North Prospect where interpretation of geological, geochemical and geophysical data from historical shallow drilling indicates mineralization (including 234.1 m grading 0.24% copper and .34 gpt gold in Hole AN04-19) projects to depth. AN21-02 will test this target.

"It's good to be back drilling at Lac La Hache," said EnGold President and CEO David Brett. "Our bold new strategy to target deeper porphyry mineralization is unfolding and we expect to be adding a second drill in the coming weeks."

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.

About EnGold

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.

David Brett

President & CEO

For further info contact David Brett, 604-682-2421 or david@engold.ca

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96595

© Newsfilecorp 2021
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09/15EnGold Mines Ltd. Reports Drilling At Its 100% Owned Lac La Hache Copper Gold Property ..
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09/15ENGOLD MINES : Drilling at Lac La Hache Underway, Assays Pending Second Drill Expected Oct..
09/15EnGold Drilling at Lac La Hache Underway, Assays Pending
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Sales 2020 - - -
Net income 2020 -1,35 M -1,06 M -1,06 M
Net cash 2020 0,17 M 0,13 M 0,13 M
P/E ratio 2020 -8,32x
Yield 2020 -
Capitalization 9,43 M 7,37 M 7,39 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 61,8%
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Managers and Directors
David H. Brett President, Chief Executive Officer & Director
Alastair Brownlow Chief Financial Officer
Rolf van Driesum Chairman
Dale Reimer Independent Director
John K. Brown Independent Director
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