Increase in Size of Land Package at Engineer Gold Mine Property
Vancouver, August 6, 2020 - Engineer Gold Mines Ltd. (the "Company") (TSXV:EAU) announces the acquisition of an additional 3,213 hectares in the area of the Engineer Gold Mine property, 32 km southwest of Atlin, BC. The newly acquired claims increase the total land package at the Engineer Gold Project to 18,319 hectares over a 25 km trend. Visit the Company's website at www.engineergoldmines.com/news to view an accompanying property map to this news release. Company President Andrew H. Rees commented "Management and our exploration team are excited to have expanded the high-grade epithermal Engineer Gold Project along a 25 km trend in northwestern British Columbia."
Mr. Rees continued by stating "The southern portion of the Engineer Project contains the Wann River prospect that includes the Discovery Trench, where historic samples returned grades of 263 g/t gold "Au". The centerpiece of the Project, 4 km north of Wann River is the high-grade Engineer Gold Mine that produced 18,000 oz Au averaging 39 g/t and selected grab samples from levels 5, 6, 7 and 8 in underground workings reportedly assayed 44,142 g/t Au, 12,720 g/t Au, 3,180 g/t Au and 547 g/t Au, respectively. Three km north of the Engineer Mine is the Happy Sullivan prospect where an historic sample reportedly assayed 3,257 g/t Au. Six km further north of the Engineer Mine is the newly acquired Tag deposit with an historic mineral resource estimate that the company will endeavour to re-classify as a current mineral resource upon completion of future work programs."
In closing Mr. Rees stated, "Now that the Company has acquired the land it deems important to the Engineer Gold Project, and with gold prices recently breaking record highs, we will immediately focus on obtaining the necessary approvals to complete high-grade (+1 oz/t Au) annual bulk samples utilizing the Company's operational mill in place. The Company's objective will be to leverage bulk sampling operations to proceed with project wide exploration on what could be a significant epithermal gold project."
The newly acquired claims are primarily centered on Golden Mountain to cover the continuation of significant structures at the recently examined Happy Sullivan prospect and newly identified structures recognized by the Company during its current exploration program, as well as structures and mineralization identified from historical exploration and anomalous regional geochemical stream survey data identified by the BC Geological Survey.
The northwestern claims cover an area proximal to a favourable flexure in the Llewellyn fault system proximal to a significant intersection with a prominent, mineralized north-northeast trending structure.
Jean Pautler, P. Geo., is the Company's Qualified Person under NI 43-101 with respect to all technical disclosure relating to the Property.
About Engineer Gold Mines Ltd.
Engineer Gold is focused on the exploration and development of the 100%-owned, 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 |
| Corporate Inquiries: | |
| "Andrew H. Rees" | Andrew H. Rees: 604-505-3739 |
| Mr. Andrew H. Rees | Email: andrewhr@engineergoldmines.com |
| President |
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.
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