Precious Metals

EnGold Mines Ltd. reported that drill hole G18-40 has returned 31.36 meters (true thickness) grading 1.14 percent copper, 0.28 grams per tonne gold and 6.89 grams per tonne silver.

EnGold Mines Ltd. (TSXV:EGM) reported that drill hole G18-40 has returned 31.36 meters (true thickness) grading 1.14 percent copper, 0.28 grams per tonne (g/t) gold, 6.89 g/t silver and 24.31 percent iron.

As quoted in the press release:

DDH G18-40, drilled 50 meters west of G17-38, intersected mineralization over a wider core interval than predicted, successfully extending the thicker, central axis of the G1 zone to the north.

DDH G18-39 is located 50 meters east of DDH G17-38 (which intersected 37.13 m true thickness grading 1 percent Cu, including 23.76 grading 1.37 percent Cu and 4 m grading 2.15 percent Cu). DDH G18-39 intersected similar carbonate replacement style, semi-massive magnetite-chalcopyrite-lesser pyrite mineralization in two zones: 10.7 meters grading 0.42 percent Cu including 2.1 m grading 1.13 percent Cu, and 7.25 meters grading 0.69 percent Cu including 2.55 meters grading 1.38 percent Cu. Results delineate the narrowing, eastern edge of the G1 zone.

Drilling was halted April 8 to allow ground conditions in the area to improve following spring breakup and pending completion of geophysical surveys and the Company’s recently announced financing.

As announced previously, a series of geophysical tests were conducted by Peter E. Walcott and Associates Ltd to refine drill targeting in the immediate G1 area, and to search for new anomalies in the 1800 meter gap between G1 and Spout deposit. This work has now been completed and early modelling of data collected along a single traverse indicates strong positive induced polarization chargeability anomalies coincide with the at-surface Spout south zone, and with the relatively deep G1 mineralization located approximately 350 m below surface. Several additional chargeability features offer positive targets within the gap area, where earlier ground gravity also shows positive anomalies. Additional modeling and interpretation continues, to further refine our targeting strategy prior to re-commencement of drilling anticipated in the first week of June.

Click here to read the full EnGold Mines Ltd. (TSXV:EGM) press release.

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