Vancouver, BC / February 20, 2024 / EGR Exploration Ltd. (TSXV:EGR) ("EGR" or the "Company") is pleased to announce that the Company's application for a permit to conduct drilling at the Detour West Property has been approved by the Ontario Ministry of Mines. This permit allows EGR to drill for the potential westward extensions of the Detour-Fenelon Gold Trend onto EGR's Detour West Property from the adjacent Detour Lake Mine Property owned by Agnico Eagle.
EGR received approval for one hundred and twenty three Reverse Circulation (RC) drill holes planned to test approximately 30 kilometres of interpreted structural corridors. Drill holes are planned along 16 fences of approximately 400 metre-spaced holes with 1 to 2.5 kilometres between fences. Interpretation of all the geological and magnetic geophysical data identified five areas of interest that are the target of the proposed program. The objective of the program is to identify gold-in-till (gold dispersal trains) that may vector to mineralized portions of interpreted shear structures and to collect top of bedrock lithological data. This will build an accurate geological map in proximity to the interpreted east-west trending shear structures that potentially represent the extension of the Detour-Fenelon Trend.
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Daniel Rodriguez, CEO and Director, comments, "This is the next step in our plan to make a gold discovery on the Detour West property. With permits in place, we are ready to execute a plan to prove the westward extension of the Detour-Fenelon Trend and the Sunday Lake Deformation Zone. Our team interprets geological features and east-west structures similar to our neighbours. We want to now test this and demonstrate the productive extension of the trend."
The technical information contained in this news release has been approved by Brian Atkinson, P.Geo. who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About EGR Exploration Ltd.
EGR Exploration Ltd. is exploring for gold in the Detour-Fenelon Gold Trend approximately 300 kilometres north of Timmins, Ontario. EGR's 40,255 hectare Detour West gold project is contiguous to Agnico Eagle's property which contains the Detour Lake Gold Mine and is approximately 20 kilometres from the mine, which is also hosted in the Abitibi Greenstone Belt.
For further information contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: drodriguez@egrexploration.com
Forward?Looking Statement (Safe Harbor Statement): This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals. Management has provided the above summary of risks and assumptions related to forward-looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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