March 23, 2006
Endurance Stakes Minnitaki Porphyry Gold Target in Northwestern Ontario
|News Release 06-08|
Endurance Gold Corporation (EDG - TSX.V) is pleased to announce that it has acquired by staking a 100% interest in three claims totaling 48 units (768 Ha) in the Minnitaki Lake region of northwestern Ontario. The claims cover a portion of the major regional scale Sioux Lookout Deformation Zone, a northeast-southwest trending structural corridor that the Ministry of Northern Development and Mines has identified as highly prospective for gold mineralization.
The claims are located immediately north of and contiguous to the Tak Property, currently held by Silver Quest Resources Ltd. During the period 1999 through 2002, the Tak Property saw significant exploration activity by both Silver Quest (then Southern Rio Resources) and other companies. Work concentrated on evaluating the potential of large quartz feldspar porphyry intrusions within the regional shear system, and drill intercepts of up to 2.06 gpt gold over 31.83 metres were returned from highly altered porphyry on the Tak Property.
The intrusions are magnetite rich, and have very distinct, strong, positive magnetic signatures. On the ground acquired by Endurance, a series of strong, ovoid shaped magnetic highs suggest the presence of unrecognized, and totally untested porphyry intrusions on the property. Regional scale shore-line sampling in 1999 returned gold values to 5.26 gpt on the eastern flank of the magnetic anomalies, but no systematic evaluation of the targets has been carried out in the past. This extremely low cost, 100% owned acquisition can be made drill ready quickly, through completion of a small grid, and ground magnetic and induced polarization ("IP") surveys to define potential zones of silicification and pyritization of the porphyry, with which gold mineralization occurs on the Tak ground to the south. Pending results, a small diamond drilling program will be completed in the late spring of 2006.
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.
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