|September 16, 2003|
Energold Announces Drill Program At Bacco Y Ofir
|Energold Mining Ltd. (EGD:TSX.V) is pleased to announce the commencement of a drill program on the Bacco y Ofir Project in east-central Dominican Republic. Minmet plc is optioning the Bacco y Ofir Project from Energold in an agreement whereby Minmet as operator can earn a 51% interest by expending US$150,000.|
Mineralization was initially identified on the property as part of the regional stream sediment program undertaken by Minmet's wholly-owned subsidiary Exploration & Discovery Latin America (Panama) Inc. Follow-up work has included ridge and spur soil sampling (354 samples) and rock sampling (314 samples). The soil anomaly covers an area of 1400m by 700m with soil values up to 1.1 g/t Au and Cu values up to 0.16%. Rock samples from within the gold soil anomaly area have returned a maximum value of 9.56 g/t Au, with 19 rock chip samples greater than 1 g/t Au including 9.5 g/t, 5.7 g/t, 4.8 g/t, 3.96 g/t, 3.83 g/t, 3.6 g/t and 2.45 g/t. The samples were taken from 3 of 5 targets within a 200 by 500 metre area.
The drill program consisting of 500 metres will test a number of the targets, with a view to defining firstly the presence, and secondly, the depth extent of apparently replacement style, flat lying mineralization as a source of the soil and rock geochemical anomaly. Minmet expects full results and assessment to be available by the end of November.
Vancouver-based Energold Mining Ltd. is a profitable 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 contract diamond drilling company and 46.7% of IMPACT Minerals International Inc. (IPT: TSX.V), a gold exploration company with properties 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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