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NEWS RELEASE
Energold Mining Ltd.
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For release: February 29, 2000 TRADING SYMBOL "EGD"
Follow-up Drill Program Commencing on San Antonio I Concession
Vancouver, B.C. (February 29, 2000) - Energold Mining Ltd. (EGD.CDNX) and Atna Resources Ltd. (ATN.T) announce that a drilling program on the San Antonio volcanogenic massive sulphide (VMS) property, in the Dominican Republic, will commence in early March. Eight attractive targets along a 4 kilometre strike length will be tested by approximately 1500 metres of diamond drilling.
A recently completed TEM geophysical survey indicated several conductors coincident with gossanous zones and anomalous soil geochemistry. Several of the holes will test IP and EM responses in the La Parcela and Copper zones. These targets may represent thicker extensions of the high grade massive sulphide mineralization intersected in previous drilling. Significant intersections from 1999 programs include:
Hole ID IntervalFrom - To Width(m) Copper(%) Zinc(%) Lead(%) Silver(g/t) Gold(g/t)
La Parcela Zone
SA99-01 88.2 - 91.6 3.4 5.88 3.52 0.08 85.73 2.27
135.1 - 136.5 1.4 2.44 10.52 0.01 142.67 1.10
SA99-02 152.4 - 155.5 3.1 3.39 8.55 0.13 185.21 1.38
Copper Zone
SA99-07 56.1 - 58.0 1.9 1.2 15.84 0.03 23.97 1.31
SA99-12 81.2 - 85.8 4.6 1.14 10.16 0.04 53.27 2.03
Several holes are also planned to test coincident geochemical and geophysical anomalies, in areas of the property underlain by favourable host rocks, where there has been no previous drilling.
Atna can earn a 60% interest in the San Antonio I Concession from Energold by completing US$3 million in exploration and paying Energold US$300,000 in shares over a four year period. Energold's 50% subsidiary, Kluane International Drilling Inc., will be the drill contractor.
On behalf of the Directors For further information on EGD
Please contact: Keith Schaefer or Walter Sellmer
(signed) H. Walter Sellmer
President
The Canadian Venture Exchange has neither approved nor disapproved this news release.
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900 - 543 Granville St. Telephone 604 681-9501
Vancouver, B.C. V6C 1X8 Facsimile 604 681-6813 www.energold.com energold_mining@telus.net
So let's talk English for awhile. The anomaly has a strike length of some 6 km, with some excellent grades in pockets. There seems to be some consistency in stratigraphy, making mgmt hopeful this is a continuous system that pinches and swells and we have just hit the pinches, needing to find the swells.
The mineralization is sitting on the flank of a volcano that sent plumes out onto the ocean floor and filled in the cavities on the ocean floor. Mgmt thinks the formation has folded into a U shape and is drilling for these areas |
