Mining

New Zone Discovered During 2020 Exploration at Wann River

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July 29, 2020 – TheNewswire – Vancouver, BC – Engineer Gold Mines Ltd. (the “Company”) (TSXV:EAU) announces the completion of its initial exploration program of evaluating the Wann River vein systems and integration with the 2011 drill data on its Engineer Gold Mine property. The Wann River veins lie 4 to 5 km south of the historical Engineer Gold Mine workings, located 32 km southwest of Atlin, BC. The vein systems were mapped in detail and chip sampled during the current program and correlated with veins encountered in the 2011 drill program completed by Blind Creek Resources Inc. Sample results will be released when received.

The Morel zone, constitutes a new discovery this year of typically centimetre scale, northwest-southeast trending, sheeted quartz veins and quartz stockwork, with minor pyrite and tetrahedrite (commonly associated with the gold and silver mineralization within this area), hosted within iron-carbonate-potassic-pyrite altered zones within the dioritic orthogneiss (a favourable competent host rock). The zone is exposed along the shore of Tagish Lake, 250m southwest of the Lum showing from which grab samples were reported to carry 263 g/t Au and 1350 g/t Ag in 2010. Specimens of the Morel zone have been collected for petrographical analysis and fluid inclusion studies to determine the nature of mineralization. Potential exists for an intrusion related gold system (IRGS) related to the Wann River stock, or peripheral alteration related to a structurally controlled lode gold system associated with the Llewellyn fault zone.

Mapping of the southeast trending Lum showing, located approximately 400m west-southwest of the mouth of the Wann River and exposed by historical trenches, indicated that the one hole drilled on the Lum showing in 2011 was drilled entirely within the footwall of the vein, intersecting unaltered dioritic orthogneiss. The Lum vein and stockwork zone remains untested and additional drilling is planned.

Detailing mapping of the gold-silver bearing Trail, River and Spanish veins indicated the presence of one southeast trending, moderate south dipping, generally 0.8m wide, composite, banded, tetrahedrite bearing vein exposed over a 150m strike extent. The vein is hosted by a fault bounded strand of mafic volcanic rocks of the Triassic Stuhini Group. The vein was not intersected in previous drilling due to a major fault, a strand of the Llewellyn fault system. The vein is open to the south, and could be dextrally offset further north, at its north end. Additional drilling is planned further south along the vein away from the fault.

Six of nine drill holes from two pads (WR-01 and WR-03) 75m apart, from the 2011 Blind Creek drill program in the central Wann area, intersected a number of veins, some of which exhibit typical epithermal textures similar to those 4 km north at the Engineer gold mine, and are still being correlated. Consequently, samples have been collected for petrographic and fluid inclusion study. The southeast trending veins locally occur proximal, and sub-parallel, to the orthogneiss/Wann River stock contact, steepen with depth, and are locally offset by faults. Veins on surface in this area include: the Dutch vein, hosted by dioritic orthogneiss; and the Newfie vein system, an easterly trending sheeted vein and stockwork zone hosted by the younger Wann River stock of probable Jurassic or Cretaceous age. Again, potential exists here for an intrusion related gold system (IRGS).

Two significant vein intersections were encountered in two of the Blind Creek drill holes in 2011 from drill pad WR-04, further northwest. The intercepts of 1.05 g/t Au and 9.98 g/t Ag over 15.6m (true width of 2.7m), including 11.3 g/t Au and 94.8 g/t Ag over 1m (true width of 0.2m) in WR11-014 (WR04-01-11) and 5.62 g/t Au and 91.1 g/t Ag over 1m (true width of 0.5m) in WR11-016 (WR04-03-11) indicate an 80 degree SW dip for the vein. The latter intercept was not previously reported. The vein appears to be represented by a 130 degree trending break in slope on surface from which high sulphide bearing quartz vein float returned 32.9 g/t Au in 2011. The high sulphide nature of the vein suggests that it may be the faulted extension of the Trail, or a similar, vein. Additional drilling, now that the orientation of the vein is known, is planned to intersect the vein along strike.

Continued exploration is commencing this week and will include an evaluation of MMI soil anomalies at the north end of the Wann River area, mapping and prospecting between the Engineer and Wann River areas and laying out trench and drill sites for the next phase of exploration.

The current exploration program is being implemented and supervised, and 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, 14,020 ha 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 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: andrewhr@engineergoldmines.com

Director

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.

Copyright (c) 2020 TheNewswire – All rights reserved.

Source: miningstockeducation.com

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