+ Energold Drilling Corp. - News Releases - Energold Announces Assays From Real De Belem Silver Project And The Commencement Of A Drill Program - Sun Dec 15, 2019

News Releases


 April 15, 2004
Energold Announces Assays From Real De Belem Silver Project And The Commencement Of A Drill Program

 Energold Mining Ltd. (EGD:TSX.V) is pleased to announce both the initial assays of the ongoing program of rock sampling and mapping, as well as the commencement of a 16 hole, 1500 metre drill program on the Real de Belem Project in Mexico.

INITIAL SURFACE AND UNDERGROUND SAMPLING PROGRAM RESULTS

On the Belem Vein System a total of 66 samples were collected from the vein/breccia, surrounding wallrock and old mine dumps. Summary assay results from sections where the complete vein/breccia is exposed are as follows:

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Belem Main Decline Area Sampling
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                        Estimated
                        True Width        Silver           Gold
Location                   (m)            g/t              g/t
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BELEM #1 VEIN
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@11m from entrance        0.95            1,578            0.57
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including                 0.30            3,650            0.97
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@12.5m from entrance      0.95              697            0.29
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including                 0.55            1,020            0.32
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@13m from entrance        1.95              327            0.32
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including                 0.80              553            0.50
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@16.5m from entrance      0.40              506            0.48
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@18m from entrance        0.50               32           <0.05
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@22.5m from entrance      1.20              268            0.23
-----------------------------------------------------------------
@28.5m from entrance      3.20              371            0.13
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BELEM #2 VEIN
-----------------------------------------------------------------
@22m from entrance        0.60              734            0.93
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SPLAY VEINS
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@20m from entrance        0.30              837            0.63
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@22m from entrance        0.60            1,720            0.50
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BELEM DUMP            Grab Sample         1,945            1.12
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                      Grab Sample           319            2.99
-----------------------------------------------------------------


Several of the highest grade samples in this table were located on the edges of the old mined out stopes indicating that these stopes probably hosted high grade mineralization prior to historic mining.

Belem #1 Vein mineralization is a moderately northeast dipping zone of low sulphidation epithermal quartz vein breccias common to the Taxco Silver Region. The highest grade mineralization, however, occurs as a fault (clay) gouge with local vein quartz and host rock fragments. This high-grade gouge forms a semi-continuous pinch and swell zone along the hangingwall (upper contact portion) of the medium grade quartz vein breccias. The Belem #2 vein is a steeply northeast dipping quartz vein splay off the Belem #1 Vein. In May 1995 an 81.7 tonne test shipment largely from the Belem #2 Vein was sent by the property owner to Taxco and reported head grades averaging 898g/t Ag.

During the recent field program, the Belem Vein System was mapped in detail over the western half of its known 700m strike length. Samples were collected where Belem #1 Vein exposures were found in rock outcrops and small historic mine workings. This mapping demonstrated strong continuity to the Belem #1 Vein and assays varied from <5 to 637g/t Ag over sample widths of 0.4-0.7m in partial to complete vein exposures. In all 39 partial and complete vein samples collected from the decline, old workings and outcrops averaged 0.28 g/t Au and 343 g/t Ag.

The San Antonio Vein System parallels the Belem Vein System about 200m to the northeast. It also appears to be a low sulphidation epithermal vein system and has numerous old mine workings spread over a strike length of at least 600m. During the recent field program a total of 41 samples were collected here -- 38 samples from waste dumps and 3 chip samples of the quartz vein left at the edges of mined out stopes in one old adit. Summary assay results are as following:

-----------------------------------------------------------------
San Antonio Adit
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                        Estimated
                        True Width        Silver           Gold
Location                   (m)            g/t              g/t
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@58m from entrance        0.75              125            0.24
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@114m from entrance       0.60            1,080            0.64
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@124m from entrance       1.00               58            0.20
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San Antonio Historic Waste Dumps
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                         Number
                           of             Silver           Gold
Location                 Samples          g/t              g/t
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Average of all samples     38               247            0.38
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Including:
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Upper Shaft Dump           10               396            0.25
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Middle Shaft Dump           4               447            0.69
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Intermittent Dump           3               607            1.27
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Lower Shaft Dump            7               128            0.38
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In 1996 the property owner shipped 20.9 tonnes of material from the San Antonio dumps (half from the Upper Shaft Dump and half from the Lower Shaft Dump) to the smelter at San Luis Potosi. Smelter returns reported an average grade for the waste dump shipment of 303g/t Ag and 1.0g/t Au.

Field observation and consideration of these results indicate that the central portion of the San Antonio Vein structure is probably high-grade with lower grades extending for a variable distance into wallrock.

DRILL PROGRAM

A 16 hole, 1500 m drill program is scheduled to start next week on the Real de Belem Project. The drilling will test a 600 m long section of the Belem Vein System to depths of 75-150m with 12 holes. Four additional holes will test down dip extensions of the San Antonio Vein System. Results from the drilling will be announced as they are received.

The Real de Belem property is located 120km southwest of Mexico City in an area of good infrastructure. The immediate area is a historic mining district well known for epithermal silver and gold mines including the Taxco silver camp located 50km southeast of Belem. The project has seen extensive development including road and bridge upgrades, a new 10km 13KVA electric power line, purchase options on mining and processing equipment, the driving of an underground decline and the acquisition of all the permits required for the commencement of a 200 tonne per day mining operation.

Under the Belem Option Agreement, Energold has the right to purchase the property, its assets and the mining operation at a fixed price before or at the time it has achieved commercial production. (See Energold News Release dated December 22, 2003)

SAMPLING AND ASSAY PROCEDURES

All sampling reported in this news release was carried out by or under the direct supervision of N. Hulme, P. Geo., a Qualified Person as defined under Canadian National Instrument 43-101. Chip and channel samples were collected from cleaned rock faces in old mine workings and from bedrock outcrops over a continuous representative interval using a moil and hammer. Waste dump samples were collected with a shovel over 3 to 3.5 meter lengths from the bottoms of 0.3 meter wide by 0.5 meter deep trenches excavated in lines approximately at right angles across the faces of the dumps. Typical samples averaged 2.5 5 kilograms.

All samples were shipped to the ALS Chemex preparation laboratory in Guadalajara (Mexico) where they were fine crushed (70% passing a 2mm screen), pulverized (85% passing a 75 micron screen) and a pulp split separated for assay by a riffle splitter. These pulps were shipped to the ALS Chemex laboratory in North Vancouver Canada where a 30 gram split of each was assayed for gold and silver by fire assay with a gravimetric finish.

Vancouver-based Energold Mining Ltd. is a profitable exploration company focusing on precious and base metals targets within Mexico and the Dominican Republic. Energold owns 50% of Kluane International Drilling, a contract diamond drilling company and a controlling interest in IMPACT Minerals International Inc. (IPT: TSX.V), a precious metals exploration company with properties in the Dominican Republic.



On behalf of the Directors of Energold Mining Ltd.

"Frederick W. Davidson"
President


For further information, please contact:
Fred Davidson or
Darrell Rader - Corporate Development

The TSX Venture Exchange has neither approved nor disapproved this news release.

900 - 543 Granville St.
Vancouver, B.C. V6C 1X8
www.energold.com

Telephone 604 681-9501
Facsimile 604 681-6813
info@energold.com
 
 

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