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Engineer Gold Mines Signs Agreement to Acquire Adjoining Tag Deposit
(via TheNewswire) August 4, 2020 - TheNewswire - Vancouver, BC - Engineer Gold Min...
About this update from Engineer Gold Mines Ltd.
[{"type":"text","content":"Engineer Gold Mines Signs Agreement to Acquire Adjoining Tag Deposit(via TheNewswire)\n \n \nAugust 4, 2020 - TheNewswire - Vancouver, BC - Engineer Gold Mines Ltd. (the \"Company\") (TSXV:EAU) announces that it has entered into an agreement to acquire the Tag property, which adjoins its Engineer Gold Mine property, located 30 km west of Atlin, British Columbia, to the northwest, and lies 6 kilometres north of the historical Engineer mine workings. A map is available on the company's website at www.engineergoldmines.com/news\n\n \n \nThe 1,070 hectare Tag property covers the 025 or Main zone, which contains, as defined by the National Instrument (\"NI\") 43-101 Standards for Disclosure for Mineral Projects, an historical mineral resource estimate including 250,000 tonnes of 2.97 g/t Au (cut) and 12.09 g/t Ag (cut), indicated and 400,000 tonnes of 2.98 g/t Au (cut) and 9.91 g/t Ag (cut) inferred, using a minimum core length of 2.0 metres and a cut-off grade of 3.0 g/t gold equivalent (combined gold and silver values), calculated on silver to gold ratio of 59.927. The resource is taken from a technical report filed on SEDAR entitled \"Technical Report on Resource Estimates for the Tag Property, Northern British Columbia\", prepared for CZM Capital Corporation by Reddick Consulting Inc. and dated December 29, 2009. \n\n \n \nEngineer Gold Mines' president, Andrew H. Rees stated \"The Tag acquisition will be an exciting development for the Company as it is a contiguous expansion of the north end of the Engineer Project. The significant exploration and development work already completed at Tag will provide a wealth of data to Engineer's technical team and immediately enhance the geological understanding of the Engineer Project. The Company intends to complete the work necessary to classify the historic resource estimate as a current mineral resource.\"\n\n \n \nPractices consistent with CIM (2005) were applied to the generation of the historical mineral resource estimate and the parameters of the modeling are fully described in the NI 43-101 report referenced above. The estimate uses a vertical cross-sectional polygonal method and is based on 28 diamond drill holes within a 900 metre long extent. It appears to have economic potential that would be best suited for development by the use of underground mining methods. A qualified perso...