E2Gold drills 34 g/t gold over 0.5 metres at Band-Ore, Ontario

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E2Gold Inc. [ETU-TSXV; ETUGF-OTC] reported results from the first seven drill holes (1,002 metres of drilling) on its Band-Ore gold project, located 80 km west of Thunder Bay, Ontario. All holes intersected either high gold grades, as at the main zone (up to 34 g/t gold over 0.5 metres), or broad gold zones, as at the No.4 zone (0.53 g/t gold over 56 metres).

Dr. Eric Owens, PGeo, CEO, stated: “These results confirm the width and grade of gold in these two zones and show the potential for further growth. Together with our earlier prospecting work, gold grades are clearly widely distributed over this large property. We regard our 2022 efforts as a good first step on this project.”

Five shallow holes were completed on the main zone, where gold occurs in pyrite-rich, anastomosing shear zones hosted in a 2,000-metre long by 300-metre wide porphyry. Historical drilling has tested the zone over 1,500 metres along strike by 200 metres deep, and E2gold’s infill holes verify high-grade gold over at least 800 metres along trend.

Drill hole BO-22-01 returned 0.5 metres of 13.40 g/t gold and 0.5 metres of 34.00 g/t gold (Main Zone East). BO-22-03 returned 0.5 metres of 20.40 g/t gold (Main Zone West). BO-22-05 returned 0.5 metres of 9.34 g/t gold (Main Zone West). Refer to original company press release for complete drill results.Drill results at the No. 4 zone returned very broad, well-mineralized gold zones. Diamond drill hole BO-22-07 intersected 56 metres grading 0.53 gold g/t, with a number of intervals grading more than one g/t gold. Hole BO-22-06, while it failed to return any high-grade values, assayed 0.1 gold g/t over 69 metres.

Gold mineralization at the No. 4 zone is hosted within a variably altered sequence of quartz-eye sericite and sericite-chlorite schists. E2gold drilled two holes in between previous holes to verify earlier drill intercepts and geological interpretations by others.

E2gold’s previously announced surface prospecting and trenching work in 2022 verified historical results which outlined several east-west-trending, narrow (0.5 m to two m), gold-bearing, pyritic zones across a 6-km trend and demonstrated the occurrence of numerous high gold grades in outcrops.

From the 1950s through the 1980s, Noranda Inc. and others identified two gold zones in the eastern quadrant of the Band-Ore property along two of these shears: the main zone, with a historical resource of 706,000 tonnes grading 6.86 gold g/t for 155,726 ounces of gold, and the No. 4 zone, with 616,000 tonnes grading 4.84 gold g/t for 95,668 ounces of gold.

The company will resume surface exploration in the summer as well as plan a follow-up drill program.

E2gold is a Canadian gold exploration company with a large flagship property, the 80-km-long Hawkins gold project in north-central Ontario, about 140 km east of the Hemlo gold mine and 75 km north of the Magino and Island gold mines.

The property is anchored by the McKinnon zone inferred resource of 6.2 million tonnes grading 1.65 g/t gold for 328,800 ounces of gold.


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