|January 06, 2003|
Energold Mining Ltd. Announces El Brujo Drill Program
|Minmet plc ("MinMet"), an international exploration company has advised IMPACT Minerals International Inc. (IPT:TSX.V), 46% owned by Energold Mining Ltd., that a program to drill test the El Brujo concession in eastern Dominican Republic will commence in late January.|
MinMet has undertaken extensive work on the property during the past 12 months including a 200m x 50m soil grid over an area of 6km by 2km, within a total grid area of 12km by 2km, collecting and analysing a total of 1,820 soil samples, trenching, and geological mapping. As was previously announced, trenching discovered the presence of porphyry style mineralisation, the first to be recorded within the Los Ranchos Formation. The Los Ranchos Formation is host to the Pueblo Viejo gold-silver deposit (past production & resources of 35Mozs Au) which is currently undergoing a feasibility study by Placer Dome.
The aim of the program will be to define the extent and grade of the porphyry mineralisation in three target areas within the concession. Two holes will test the Dos Brazos zone which is characterised by extensive anomalous Au-Cu-Mo soil geochemistry. Drilling will test the grades of the supergene copper enrichment zone beneath the surface leached capping as well as the tenor of the gold and molybdenum mineralisation. Other targets to be tested are the Mogote copper anomaly 2 km SE of Dos Brazos and the El Brujo porphyry centre some 2 km NW of the Dos Brazos zone.
The geology, geochemistry, and scale of alteration at El Brujo are comparable to the Tanama porphyry system on the neighbouring island of Puerto Rico. The Tanama porphyry was explored by Kennecott who defined an inferred and indicated resource of 139Mt grading 0.64% Cu and 0.51 g/t Au for in-situ resources of 2.27Moz Au and 0.889Mt Cu.
An initial program of up to 1,000 metres of diamond drilling will commence in late January and will be undertaken by Kluane International Drilling Inc.Vancouver-based Energold Mining Ltd. (www.energold.com) is an exploration company focusing on precious and base metals targets within the Dominican Republic and South America. Energold owns 50% of Kluane International Drilling Inc., a profitable diamond drilling company, and 46% of IMPACT Minerals International Inc. (IPT: TSX.V), a gold exploration company in the Dominican Republic. Under an agreement with Energold Mining Ltd. and IMPACT Minerals International Inc., who control a large land package in the DR, MinMet can earn up to 51% of certain properties on confirmation to Energold/IMPACT that pre-determined expenditures on specific areas has been incurred ( Vesting Expenditures ). All costs after the Vesting Expenditures will be on a E&D 51:49 basis with Energold or IMPACT, with normal dilution provisions for non-participation.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
Fred Davidson or
Darrell Rader-Corporate Development
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