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Engineer Gold Mines Samples 547 gpt Gold at Engineer Gold Mine Property in BC

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Engineer Gold Mines announced results from its underground sampling program at the Engineer Gold Mine property in northern BC – highlighted by 2 high-grade gold samples of 547 grams per tonne and 9.67 grams per tonne.

Additional Information:

Company: Engineer Gold Mines
Website: http://www.EngineerGoldMines.com
Stock Symbol: TSXV: EAU
Date Published: Dec 13, 2019
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investment Pitch Media

Engineer Gold Mines announced results from its underground sampling program at the Engineer Gold Mine property in northern BC – highlighted by 2 high-grade gold samples of 547 grams per tonne and 9.67 grams per tonne.

The company is focused on the exploration and development of its 100% owned, 14,000-hectare Engineer Gold Mine Property, which is centered around the historic, high-grade, Engineer Gold Mine located 32 kilometers southwest of the town of Atlin in northwestern BC.

The historic Engineer Gold Mine produced 18,000 ounces of high-grade gold at 39 grams per tonne between 1912 and 1927 – and also according to the company’s 2018, 43-101 technical report, has an inferred resource that includes 20,100 ounces of gold at 60 grams per tonne or 1 3/4 ounces per ton in the Engineer Vein.

Engineer successfully dewatered the entire Engineer gold mine in October of this year and initiated an underground geological mapping and panel sampling program on the lowermost 8 Level, which consists of a 1,067-metre network of historic drifts, stopes and crosscuts.

A total of six muck samples and 24 composite chip samples were collected during a four-day sampling program.

Unfortunately, due to a catastrophic pump failure, the sampling crews only had 11 days to establish provisional air and water services and conduct a preliminary muck and composite chip sampling program on segments of the Double Decker, Engineer and Shear A zone on 8 Level.

The company’s work crews were able to access the historic production stope at the south end of the Double Decker vein.

Five samples were collected from the muck piles remaining on the stope floor and a sixth sample was collected from inside one of the draw chutes.

All six samples were mineralized with two of the samples returning high-grade gold assays of 547 grams per tonne and 9.67 grams per tonne.

The samples were reported to be also enriched in silver and arsenic which is typically associated with gold mineralization at the Engineer gold mine.

9 composite chip samples were collected along a 35-meter strike length of the Engineer vein on 8 Level. All nine samples were mineralized but returned low-grade gold values ranging from 11 to 705 parts per billion.

Samples were also reported to be elevated in silver and arsenic.

Previous work on the 5 Level Bonanza zone has shown that small chip samples typically underestimate the actual gold grade of the vein due to it high nugget nature.

Historic drifting of the Shear A zone is measured to be approximately 255 metres.

A total of 15 composite chip samples were collected along a 100-metre length of the drift.

All 15 samples exhibited low-grade gold mineralization ranging from 18 parts per billion to 1.13 grams per tonne.

Sampling results are considered preliminary in nature, and a more concerted program including washing drift walls, geological mapping and detailed sampling along all mineralized vein drifts in their entirety is warranted and proposed for spring 2020.

The company has approximately 36 million shares outstanding with the shares trading at $0.07 on the TSX Venture Exchange under the symbol EAU.

For more information, please visit the company’s website: www.EngineerGoldMines.com, contact Brian Fowler, President, at 604-682-2928, or email bfowler@EngineerGoldMines.com or Nelson Da Silva, Manager Corporate Development, at 604-722-0041 or by email at nelson@EngineerGoldMines.com.

I’m Fiona Forbes for Investmentpitch Media