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EnGold Engages SRK to Complete Resource Estimates at Spout and G1 Copper Zones
Vancouver, British Columbia--(Newsfile Corp. - February 25, 2020) - David H. Brett, President ...
About this update from Engold Mines Ltd.
[{"type":"text","content":"EnGold Engages SRK to Complete Resource Estimates at Spout and G1 Copper ZonesVancouver, British Columbia--(Newsfile Corp. - February 25, 2020) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) \"EnGold\" or the \"Company\") reports that EnGold has engaged the international firm SRK Consulting to complete an updated Mineral Resource estimate for the Spout Lake Deposit and a Maiden Resource estimate for the G1 zone at EnGold's 100% owned Lac La Hache Property in the Cariboo region of BC. Both Spout and G1, located within 2km of each other, are copper, gold, silver and magnetite bearing skarn/carbonate replacement zones outlined by over 240 drill holes to date. Both estimates will focus on higher grade mineralization that could potentially support underground extraction. \"Moving forward with these resource estimates is part of EnGold's strategic vision to develop higher-grade zones at Lac La Hache into underground minable deposits,\" said EnGold President & CEO David H. Brett. \"At the same time, our exploration model and strategy also engage the property's lower-grade, bulk-tonnage porphyry copper-gold potential, including deeper drilling such as the planned 800 metre deep hole at Ann North Zone, commencing soon.\"Map 1: Lac La Hache ProjectTo view an enhanced version of this map, please visit:https://orders.newsfilecorp.com/files/2268/52758_9b2edae2c4df4888_002full.jpgAbout the Spout Lake Deposit Discovered in the late 1960s by Amax Exploration Ltd., Spout Lake's high magnetite content gave rise to one of the highest amplitude aeromagnetic responses in British Columbia. Semi-massive magnetite-copper skarn mineralization crops out at surface, locally containing copper grades exceeding 1 to 3 percent or more. Since 1987, EnGold (formerly GWR Resources) has completed over 200 drill holes at Spout, leading to a resource estimate completed by SRK utilizing an open-pit mining model, published by EnGold in April 2012. As the Company faced challenges financing a preliminary economic assessment of the 2012 resource, management decided to focus on the significant higher-grade material that occurs within (ie. DDH 10-18 cut 10m grading 4.6%Cu) and below (ie. DDH 11-177 cut 10 m grading 7.9%Cu) the outlined pit shell. EnGold believes this is potentially extractable via more constrained, selective mining methods, and ...