Engold drills 11.4 g/t AuEq over 2.5 metres at Lac La Hache, British Columbia

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Engold Mines Ltd.’s [EGM-TSXV; GWRRF-OTC] assays from quartz veins encountered in an upper portion of drill hole AZS22-83, targeting the Aurizon gold deposit at the 100%-owned Lac La Hache property in the Cariboo region of British Columbia, have returned significant gold values, including 2.5 metres grading 11.4 g/t AuEq (gold equivalent) and 7.11 metres grading 7.15 g/t AuEq, including 0.75 metres grading 79.21 g/t AuEq. AZS22-83 also returned 2.5 metres of 8.80 g/t gold, 81.80 g/t silver and 1.02% copper.

The sections reported contained visible gold and were assayed on a rush basis as the hole continues to a projected depth of greater than 900 metres, which is expected to intersect the main Aurizon hydrothermal breccia structure. Additional assays within this hole and hole AZS22-82 are pending. All results are core lengths only, as the true widths of the structures reported have not yet been determined.

The Aurizon gold deposit, located near the southeast end of a 10-km mineralized corridor at Lac La Hache, contains an Inferred Mineral Resource of 1,991,000 tonnes grading 3.18 g/t AuEq (2.32 g/t gold, 0.6% copper and 5.3 g/t silver), based on a 2 g/t AuEq cut-off grade. Hole AZS22-83 is the second Aurizon drill hole of Engold’s 2022 drill program. AZS22-82, drilled to a depth of 1,235.37 metres, encountered multiple mineralized zones (assays pending), but is interpreted to have deviated parallel to the main, steeply dipping Aurizon structure. Hole AZS22-83 is being drilled at a shallower angle, targeting a pierce point on the Aurizon structure at approximately 700 metres to 800 metres below surface, or about 200 metres above the planned intercept of the prior hole.

“These high-grade structures, which are not included in our maiden Aurizon resource, are very encouraging,” said Engold vice-president of exploration Rob Shives. “We continue to see strong evidence of a large, metalliferous alkalic porphyry system at the property.”

“We see Aurizon as a potential stand-alone gold deposit as well as a potential feeder into a multideposit mining model,” said Engold president and CEO David H. Brett. “Our strategy is to build out our current resources while exploring for brand-new discoveries.”

Engold is a Vancouver-based copper, gold, silver and magnetite exploration company focused solely on its Lac La Hache property which hosts the Spout copper deposit, the Aurizon gold deposit, the G1 copper deposit and other targets within a large porphyry mineralizing system.

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