|January 19, 2004|
Energold Announces Joint Venture On El Higo Project
|Energold Mining Ltd. (EGD:TSX.V) is pleased to announce a joint venture with MinMet plc on the El Higo Project (also known as El Centenario) in the Dominican Republic, subject to a 30-day due diligence period. Previous exploration by Energold and others included 69 short diamond drill holes totalling 4,248 metres that outlined a zone of epithermal gold mineralization. Drilling of the high-grade zones reported intersections of up to 9.18 g/t Au over 23.1 metres, including an interval of 13.8 g/t Au over 10.5 metres (Hole HC-97-67). The 2,325-hectare project is located 30 km west of the Pueblo Viejo gold deposit.|
MinMet will spend US$1.0 million over three years to earn a 60% interest in the project. Subsequently, MinMet has the right to earn 80% by taking the project to a feasibility study.
Vancouver-based Energold Mining Ltd. is a profitable exploration company focusing on silver and gold targets within Mexico and the Dominican Republic. Energold owns 50% of Kluane International Drilling, 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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