|February 06, 2003|
Energold Mining Ltd. Announces Results of Study on La Parcela and Subsequent Commencement of Exploration Program
|Energold Mining Ltd. is pleased to announce that it has recently received the results of a detailed report on the 100% owned La Parcela concession (formerly the San Antonio). The report suggests the presence of additional massive sulphide bodies, particularly in the area between the Copper and La Parcela Zones. The La Parcela and Copper Zones have been defined over 400m strike lengths and to 250m down dip. During the 1999/2000 diamond drill program, intercepts included 5.9% Cu, 3.5% Zn, 2.3 g/t Au and 86 g/t Ag over 3.4 meters at the La Parcela Zone and 1.5% Cu, 14.6% Zn, 2.9 g/t Au and 78 g/t Ag over 3.1 meters at the Copper Zone. The extensive results and conclusions from this report will be used to further our understanding of the geology of the concession and generate new exploration targets. |
The author Peter Daubeny, was the project geologist during the 1999/2000 drill program. The report was completed as part of the requirements of the Masters of Mineral Exploration Program from Queens University in Kingston, Ontario.
Ten kilometres to the northwest of the La Parcela Concession is Globestar Mining Corporation's Cerro de Maimon deposit. Globestar reports Cerro de Maimon to contain between 3 and 4 million tonnes of high-grade copper-gold-zinc-silver in massive sulfides as well as an overlying measured and indicated oxide resource of 611,000t grading 2.6g/t Au and 65g/t Ag at a 1.0g/t Au cut off. The La Parcela concession has numerous characteristics similar to those found on the Cerro de Maimon deposit. With a feasibility study on Cerro de Maimon nearing completion and renewed interest in the Dominican Republic, Energold has reviewed the data on La Parcela and is planning a trenching program to investigate the near surface gold potential of the concession.
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 47% of IMPACT Minerals International Inc. (IPT: TSX.V), a gold exploration company in the Dominican Republic.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
Fred Davidson or
Darrell Rader - Corporate Development
The TSX Venture Exchange has neither approved nor disapproved this news release.
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