E2gold drills 9.86 g/t gold over 1.0 metre at Hawkins, Ontario

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E2gold Inc. [ETU-TSXV; ETUGF-OTC] reported the remaining results from its 10,171-metre step-out drill program on the Hawkins gold project (various interests). Consistent grades at depth more than doubled the McKinnon Zone footprint over the 3 km strike length, indicating potential for further growth below the existing resource. These early results also suggest thickening of the Zone at depth, as well as the discovery of a new off-trend zone in amphibolite. Follow-up targets are being selected as part of E2gold’s next drilling campaign.

Dr. Eric Owens, CEO, stated, “This first-ever step-out drilling at McKinnon intersected high grades and very wide intervals of anomalous gold below the Inferred Resource. Given the 300 m hole spacing (a distance equal to three football fields), hitting a metre of high grade material in multiple locations at this early stage clearly requires targeted follow up.”

The high grade results from this program include four separate 1.0-metre zones between 5.0 and 14.7 g/t gold, surrounded by wide lower grade gold haloes.

Significantly, the company intersected 9.86 g/t gold over 1.0 metre in hole MK21-35, located 200 metres north of the McKinnon Zone. Dr. Owens said, “This is a new discovery in amphibolite and indicates the potential for new gold zones elsewhere on the property.”

Beyond gold assays, the drill program has given E2gold’s geological team valuable insight into potential controls on gold mineralization, a critical step for targeting holes in the next drill program. The team’s current structural model will now be applied to targets both on- and off-trend of the McKinnon Zone.

Hole MK21-20 returned 0.86 g/t gold over 15.68 metres, including 5.83 g/t gold over 1.0 metre. Hole MK21-22 returned 0.72 g/t gold over 20.67 metres. Refer to company press release for complete drill results.

Natalie Pietrzak-Renaud, Vice-President, Exploration, commented, “Our analysis and interpretation of all drill results to date show the McKinnon Zone has gold grade and geological attributes similar to the gold deposits in this part of Ontario, including Magino and Cote Gold. I It also appears the zone is widening at depth.”

The recently-completed drill program tested both shallow-level and deep level targets. The shallow targets aimed to chase the inferred plunge of high-grade zones in the Mckinnon Zone. The deep level targets tested the deeper footprint of the MicKinnon Zone, and intersected up to 66.2 metres grading 0.24 g/t gold in DDH MK21-23, as well as localized high grades, up to 14.7 g/t gold over 1.0 metre. Refer to company website for complete drill results. These results indicate the zone is robust at depth.

The McKinnon Zone is 3.5 km long and 10-25 metres wide as exposed in surface outcrops. The surrounding disseminated pyritic schists host a broad halo of lower grade gold, such as the 66.2 metres of core length in drill hole MK21-23. Such widths and style of mineralization help facilitate targeting future drill holes and exploration plans.

The company is planning an intensive summer field exploration program which will aim at developing drill targets for its anticipated Fall-Winter drill program. This will include follow-up holes generated by the recently completed program at McKinnon. In addition, E2gold will also investigate areas along strike to both the east and west of McKinnon, such as those delineated by the Induced Polarization survey results. Further afield, Company geologists and prospectors will be conducting follow-up and regional surveys on priority geological and geophysical targets on the western KB claims and the eastern block claims.

E2gold has a focus on its large flagship property, the 80-km long Hawkins Gold Project, which covers seven townships 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 Mt grading 1.65 g/t gold, for 328,800 ounces of gold.

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