Vancouver, BC – Engineer Gold Mines Ltd. (the “Company”) (TSXV: EAU) announces results from its initial exploration program of evaluating the Wann River vein systems, 4 to 5 km south of the main workings of the historical Engineer Gold mine, which is located 32 km southwest of Atlin, BC. A map is available on the Company’s website at www.engineergoldmines.com/news
A 2020 chip sample from the Dutch vein returned 17.4 g/t Au and 72.1 g/t Ag over 0.45m from the only location where it was exposed on surface. Due to faulting it is uncertain if the 2011 drilling by a previous operator intersected the down dip extent of the vein. In the proposed 2020 drill program it is planned to target the Dutch vein in an area not disrupted by faults.
Company President, Andrew H. Rees commented “Management is very encouraged with its results from the evaluation of the Wann River vein systems, which exceeded expectations. Highlights include 17.4 g/t Au and 72.1 g/t Ag across a 0.45m chip sample from the Dutch Vein and 3.9 g/t Au and 579 g/t Ag over 0.8m from the Trail vein, amongst other significant gold and silver results from additional veins. A new inventory of drill locations has been produced from this phase of work, which the company will continue to build on as more data is processed from exploration work throughout the Engineer Gold and Silver Project. A comprehensive multi-phase drill program is being designed while management continues to prepare for a bulk sample from the Engineer Mine.”
Significant results were obtained from the Newfie sheeted vein and stockwork zone, which is the only system found, to date, to be hosted by the Wann River stock on surface. Results from 2020 include 4.71 g/t Au, 95.6 g/t Ag over 0.6m; and 2.81 g/t Au, 54.9 g/t Ag over 1.0m. Potential exists here for an intrusion related gold system (IRGS). Similar style veining, but lacking anomalous results, was encountered in the previous operator’s 2011 drill program about 100m further to the southeast within the margins of the Wann River stock. Additional gold-silver bearing intrusion hosted veins were encountered in the 2011 drilling but due to faults and obliquely directed drill holes, the intercepts cannot be definitively traced to the known surface exposures. The proposed 2020 drill program will target the easterly trending Newfie vein system down dip of, and perpendicular to the strike extent of, the surface exposure.
The composite, banded, tetrahedrite bearing Trail vein, which has been traced over an approximate 150m strike extent, yielded 3.9 g/t Au and 579 g/t Ag over 0.8m and 5.70 g/t Au, 64.2 g/t Ag from a grab sample in 2020. Drilling is planned to target the vein down dip of this surface exposure, with possible step outs further down dip and along strike to the south. The possible southeasternmost exposure of the Trail vein at the Spanish showing returned 0.56 g/t Au and 16.4 g/t Ag over 0.45m.
The newly discovered Morel showing, consisting of sheeted quartz veins and quartz stockwork, with minor pyrite and tetrahedrite, returned anomalous values of 1.48 g/t Au with 14.2 g/t Ag from a grab sample. The showing is similar to the Lum showing, located 250m to the northeast, from which grab samples were reported to carry 263 g/t Au and 1350 g/t Ag in 2010. The Morel and Lum zones may represent high level mineralization associated with an intrusion related gold system (IRGS) related to the Wann River stock, or to a structurally controlled lode gold system associated with the Llewellyn fault zone. The down dip extents of both the Morel and Lum showings are being targeted in the proposed 2020 drill program.
Additional exploration just completed in the Wann River area uncovered an old adit exposing 3 to 4 cm wide quartz veins within a northwesterly trending shear zone, approximately 3 km north of the Trail vein, and the investigation of a 1370 ppm arsenic soil anomaly exposed an easterly trending carbonate-sericite altered fault zone about 1 km north of the Trail vein. Sample results will be released when received. Follow up of gold-silver MMI soil anomalies at the north end of the Wann River area revealed extensive overburden cover, such that the source of the anomalies could not be ascertained.
All samples were sent to Activation Laboratories Ltd (“Actlabs”), Kamloops for sample preparation and analysis. Gold assays were completed by metallic screen fire assay analysis by method code 1A4-500, where the entire sample is crushed to 80% -2mm and a 500g sample split is pulverised and sieved to 149μm (100 mesh) with gold analyzed by fire assay on the entire +149μm fraction and two splits of the -149μm fraction. A final gold assay is calculated based on the gold content and weight of each fraction. All samples were also analyzed for 38 additional elements by method code 1E3 involving aqua regia digestion of a 0.5g sub-sample followed by Inductively Coupled Plasma - Optical Emission Spectroscopy (ICP-OES) analysis. Additional quality control samples are regularly analysed by the laboratory and include blanks, certified reference materials, and duplicates of crushed and pulverized material. Actlabs is ISO/IEC 17025:2017 accredited for the procedures performed.
The technical information in this news release has been reviewed by Jean Pautler, P.Geo., a qualified person with respect to NI 43-101.
About Engineer Gold Mines Ltd.
Engineer Gold is focused on the exploration and development of the 100%-owned, Engineer Gold Mine Property, centered on the Historic high-grade Engineer Gold Mine situated 32 km southwest of Atlin, B.C. Previous work has identified numerous high-grade vein and shear-hosted bulk-tonnage gold exploration targets including Wann River to the southwest, TAG and Happy Sullivan to the northeast of the Engineer Gold Mine.
For additional information please visit the company website at www.engineergoldmines.com
|On Behalf of the Board of Directors||Contact Information|
|Engineer Gold Mines Ltd.||Corporate Inquiries:|
|"Andrew H. Rees"||Andrew H. Rees: 604-505-3739|
|Mr. Andrew H. Rees||Email: firstname.lastname@example.org|
Cautionary Note Regarding Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Engineer Gold Mines Ltd. which may cause actual results, performance or achievements of Engineer Gold Mines Ltd. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.