March 21, 2006
Drilling to Commence on BQ Property; TSX Venture Exchange Accepts Simmie, Eagle Property Acquisitions
|Endurance Gold Corporation (EDG - TSX.V) is pleased to announce that a three to four hole, 450 to 600 metre diamond drilling program will commence on the BQ Property in late March. Endurance is earning a 100% interest in the Property, located 50 kilometres northwest of Smithers, British Columbia, by making cash payments of $70,000 and issuing 250,000 shares over a three year period.|
The three to four hole program will test a coincident strong chargeability Induced Polarization ("IP") anomaly, and wide area of anomalous gold-silver-zinc-arsenic-antimony values defined in soils. The holes will be drilled in a single fence, crossing three hundred metres of stratigraphy. The targeted anomalies lie within an area of altered rhyolite flows, in proximity to a major lithologic contact with sediments, and that geological setting is permissive for precious metal rich volcanogenic massive sulphide or aqueous hot spring type deposits. Both the IP and soil anomalies are open to the east, and earlier this year an additional 16 kilometres of grid was established on the property. Favourable drill results will lead to an expanded program of IP and soil geochemistry, combined with detailed geological mapping, to be carried out during the summer field season.
In other news, the TSX Venture Exchange has accepted for filing an option agreement between Endurance and Lemar Resources, where-by Endurance may earn a 100% interest, subject to a 3% NSR, in the Simmie Property, located 50 kilometres southwest of Swift Current, Saskatchewan. Under the terms of the agreement, Endurance must issue 200,000 shares and complete $150,000 in exploration on the property over a three year period. A total of 20,000 shares are now payable, which are subject to a four month hold period from March 17, 2006. Please refer to Endurance News Release 06-03, dated February 2, 2006 for additional details regarding the property and transaction.
The TSX Venture Exchange has also accepted for filing an option agreement between Endurance and West Range Exploration Ltd., where-by Endurance can earn a 100% interest, subject to a 2.5% NSR, in the Eagle Property, located 80 kilometres south of Whitehorse, in the Atlin Mining Division of northwestern British Columbia. Under the terms of the agreement, Endurance must issue 100,000 shares and make cash payments totaling $50,000 over three years. A cash payment of $5,000 and 15,000 shares are now due to the Vendors. The 15,000 shares are subject to a four month hold period from March 17, 2006. Please refer to Endurance News Release 06-05, dated February 8, 2006 for additional details regarding the property and transaction.
Duncan McIvor, P. Geo, is the Qualified Person under National Instrument 43-101, and is responsible for the content of this News Release.
ENDURANCE GOLD CORPORATION
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT EITHER
Duncan McIvor (604) 682-2707, or Jeffrey Wilson, Corporate Communications (604) 868-0225, or visit our website at www.endurancegold.com.
The TSX Venture Exchange or any other regulatory authority has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this news release.
You can view the Next News Releases item: Thu Mar 23, 2006, Endurance Stakes Minnitaki Porphyry Gold Target in Northwestern Ontario
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