Gold price rises on safety demand as markets look to 2025 in holiday lull
The yellow metal has gained 27% so far this year.
Vancouver, British Columbia--(Newsfile Corp. - September 14, 2022) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that the Company has entered into a consulting services agreement with GoldSpot Discoveries, a division of EarthLabs Inc. (TSXV: SPOT) (formerly GoldSpot Discoveries Corp.), whereby GoldSpot will apply its world-leading machine learning, artificial intelligence and geoscience expertise to EnGold's very extensive Lac La Hache exploration database compiled over 30 years. The Lac La Hache Project, located in BC's Cariboo region and 100% owned by EnGold, is a copper, gold property hosting three separate mineral deposits within a large Alkalic Porphyry system with significant potential for discovery of new porphyries at depth as well as additional skarn and hydrothermal breccia deposits closer to surface.
"The big-data revolution has come to mining and Canada's GoldSpot is leading the way," said EnGold President & CEO David H. Brett. "Machine learning thrives on large amounts of data, and Lac La Hache has a remarkable repository of exploration information to guide our collaborative work with GoldSpot."
"Two of EnGold's three Lac La Hache deposits were discovered blind," said EnGold VP of Exploration Rob Shives, P.Geo. "We relied on a complex overlay of geophysical, geochemical, geological, drilling data to successfully predict the location of mineral deposits that do not outcrop on surface. Our work with GoldSpot, I believe, will enable a great leap forward in our targeting intelligence and thereby significantly enhance our discovery potential."
"We are happy to start working with EnGold on its Lac La Hache property. The datasets collected by EnGold is perfectly suited for GoldSpot's AI workflow." Commented Vincent Dubé-Bourgeois, CEO and Director of EarthLabs Inc. "EnGold has shown the potential of the Lac La Hache deposits and we are confident that GoldSpot's proprietary workflow will help better understand the mineralization and help EnGold in the exploration efforts."
GoldSpot works with leading exploration and mining clients across all commodities and deposit types, using cutting-edge technology and geoscientific expertise to mitigate exploration risks and significantly increase the efficiency and success rate of mineral exploration across resources. Recent successes by GoldSpot have demonstrated the potential to expand resources and make new discoveries using its proprietary AI exploration techniques.
Rob Shives P.Geo., VP Exploration and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.
About EnGold
EnGold is a Vancouver-based copper, gold, silver, magnetite exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC which hosts the Spout Copper Deposit, the Aurizon Gold Deposit and the G1 Copper Deposit and other targets within a large porphyry mineralizing system. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring.
EnGold Mines Ltd.
David Brett
President & CEO
For further info contact David Brett, 604-682-2421 or [email protected]
This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, the expected use of proceeds of the financing. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which EnGold will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although EnGold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. EnGold does not undertake to update any forward‐looking statements, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137064
