Estimated 1.71 Million Tonnes Grading 1.65% Copper Equivalent At Lac La Hache
EnGold Mines Ltd (TSXV: EGM) has received mineral resource estimates from SRK Consulting (Canada) Inc. for the G1 Copper Deposit and the Spout Copper Deposit on the company’s 100% owned Lac La Hache Property in the Cariboo region of British Columbia.
The maiden G1 inferred resource estimate consists of 1.71 million tonnes grading 1.65% CuEq containing 21,400 tonnes of Copper (47,178,440 pounds), 354,400 ounces of Silver, 10,200 ounces of Gold and 529,100 tonnes of Magnetite.
At Spout, the mineral resource estimate includes a potentially open-pitable indicated mineral resource of 6.5 million tonnes grading 0.48% CuEq and an inferred mineral resource of 7.66 million tonnes grading 0.39% CuEq, containing 21,000 and 20,400 tonnes of Copper respectively (46,296,600 pounds Cu & 44,973,840 pounds Cu respectively).
Also at Spout, an additional 390,000 tonnes of inferred mineral resources grading 1.19% CuEq is included with potential for underground mining extraction. Please see the images, data table and notes below for full results including cutoff grades and other important assumptions.
“With copper prices on the rise recently, these resource calculations are a significant step forward for EnGold,” said EnGold President and CEO David Brett.
“In addition to the replacement-style copper mineralisation at G1 and Spout, which we hope to expand, Lac La Hache also hosts significant porphyry copper/gold potential.”
The company’s VP of Exploration, Rob Shives, said EnGold’s exploration model successfully predicted the 2017 G1 CRD discovery and indicates excellent potential for discovery of additional copper CRD deposits required to grow the resource.
“Future exploration will focus on several untested targets, on extension of existing deposits at Spout North (in-fill and deeper drilling), at G1 (to NE and SE) and the 1800 m gap between these deposits,” Mr Shives said.
The large porphyry copper system on the Lac La Hache Project displays many features common to porphyry copper deposits and producing mines elsewhere in the Quesnel Trough, and some additional characteristics which further enhance exploration potential.
These include gold-enriched-alkalic copper bearing porphyry intrusions (hosting several copper porphyry prospects on the Property), hydrothermal breccias and quartz veins/silicification containing visible gold and copper sulphides (Aurizon Gold Deposit, new Road Gold Prospect, others) and carbonate-rich horizons within the Nicola rocks. The latter offer demonstrated potential (Spout, G1, Nemrud) to form carbonate replacement deposits (CRD) containing copper, magnetite, gold and silver.
