November 07, 2011
Endurance Discovers Large Rare Earth and Niobium Soil Anomalies in Syenite
Nickel And Copper Soil Anomalies expand base metal potential
|Endurance Gold Corporation (EDG - TSX.V) is pleased to announce that it has received and evaluated results from 1,464 soil samples collected during the 2011 field season at the Bandito Property, Yukon. Highlights of results from soil sampling include the recognition of:|
Summary maps of the niobium-tantalum, rare earth, nickel and copper soil anomalies from 2011 program can be viewed on the company website at http://www.endurancegold.com/s/Bandito.asp?ReportID=445205
- An approximate 1.4 kilometer long by up to 600 meter wide syenite-hosted niobium-tantalum soil anomaly.
- An approximate 1.8 kilometer long by up to 400 meter wide syenite-hosted rare earth soil anomaly.
- Two new nickel-copper soil anomalies similar in size to the Discovery Zone nickel-copper soil anomaly.
The strongest of the 90th percentile niobium-tantalum and rare earth soil anomalies are underlain by altered Proterozoic-aged Pool Creek syenite and extend to the edge of the sampled grid. As a result, the rare earth, niobium and nickel-copper soil anomalies are likely to increase in size with further work. Additional soil sampling and systematic prospecting, trenching, mapping and drilling are required to explore these high priority syenite-hosted soil anomalies.
"The results from the 2011 Bandito soil sampling program have exceeded our expectations and discovered spatially significant niobium and rare earth soil anomalies that indicate potential for discovery of volumetrically large syenite intrusive-hosted rare earth-niobium-tantalum mineralizing systems analogous to the Thor Lake and Strange Lake deposits." stated Robert T. Boyd, President and CEO, "The nine square kilometers of alteration in syenite and altered host rock indicate that the Pool Creek syenite hosts a strong mineralizing system with significant exploration potential for discovery of large rare earth niobium-tantalum systems."
The 4.3 by 2.7 kilometer grid of soil samples completed in 2011 were collected on a 100 by 100 meter spacing with more detailed soil sample grid at 50 by 50 meter spacing in areas of historic bedrock mineral prospects.
Encouraging 2011 rock sampling results from the rare earth, niobium, and nickel-copper discoveries are reported separately in releases dated October 12 and 18, 2011.
Niobium-Tantalum Soil Results and Discussion
The 90th percentile exceeds 146 ppm and 6.9 ppm respectively for niobium and tantalum in soil. For the 2011 soil data, there is an 86.5% statistical correlation between niobium and tantalum.
Nepheline Syenite Host Rock - An approximate 1.4 kilometer long by up to 600 meter wide niobium-tantalum soil anomaly has been identified. Peak values for the niobium in soil include 575 ppm, 485 ppm, 440 ppm, 399 ppm, 376 ppm, and 361 ppm niobium, and for tantalum in soil peak values include 54 ppm, 38 ppm, 30.4 ppm and 29.2 ppm. As reported on October 12, 2011, one grab sample of coarse grained syenite located near the syenite sediment intrusive contact returned 1.3% Nb2O5 (9100 ppm Nb) , and 0.094% Ta2O5 (768 ppm Ta). The nearest soil samples, located about 60 and 100 meters from this prospect, contained 303 ppm and 180 ppm niobium respectively. About 45 meters from the high niobium-tantalum grab sample, near the intrusive-sediment contact, a chip sample of fine-grained mafic-rich magnetite-bearing syenite returned 0.22% Nb2O5 over 3 meters. A third grab sample of syenite, which returned 0.243% Nb2O5, was collected in the syenite about one kilometer from the intrusive-sedimentary contact. Two of these encouraging rock samples are directly associated with a smaller 300 by 100 meter 90th percentile niobium-tantalum soil anomaly, and thus demonstrate potential for discovery of other intrusive-hosted niobium-tantalum mineralization related to the larger and stronger anomalies over the syenite on the property.
Fenite Host Rock - Greater than 80th percentile niobium-tantalum soil anomalies, in altered sedimentary host rocks, are typically less than 400 meters in the longest direction. A peak soil value of 356 ppm niobium is related to the South Fenite Trend. The fenite host rock for mineralization varies from 5 meters to 160 meters in width, and thus irregular soil anomalies identified on North and South Fenite trends are potentially an artifact of the broad sample spacing for the 2011 soil grid. As reported on October 12, 2011, over thirty (30) grab and chip samples in fenite exceed 0.14% Nb2O5.
Rare Earth Soil Results and Discussion
The 90th percentile exceeds 496 ppm for total rare earth elements plus yttrium (TREE+Y) in soil.
Nepheline Syenite Host Rock - An approximate 1.8 kilometer long by up to 400 meter wide rare earth soil anomaly has been identified overlying syenite. Peak values for TREE+Y in soil include 2073 ppm, 1422 ppm, 1386 ppm, and 1336 ppm TREE+Y. A rock sample collected in 1980 returned over 1% total rare earth plus yttrium oxides (TREO+Y) approximately coincident with this large TREE+Y soil anomaly. Follow-up sample traverses in 2011 were unable to relocate this sample site due to poor outcrop in the area. Further systematic exploration is required to explain the source of these strong TREE+Y soil anomalies in syenite.
In the recessive syenite, portions of the larger niobium and rare earth soil anomalies are associated with topographically lower areas, including drainages.
Fenite Host Rock - Peak values for TREE+Y in soil include 3534 ppm, 1315 ppm, 1182 ppm, and 1088 ppm TREE+Y in areas mapped as fenite and hornfelsed clastic sediments. As reported on October 12, 2011, a trench in fenite altered host rock sediments on the South Fenite Trend returned 2.65% TREO+Y over 6 meters. The peak soil value associated with this significant trench result is 412 ppm TREE+Y. Other soil anomalies along the South Fenite Trend are single points with the peak value of 3534 ppm TREE+Y associated with a feature related to the South Fenite.
Two soil anomalies are present along the North Fenite Trend. As reported on October 12, 2011, a trench sample of 2.558% TREO+Y over 0.5 meters is related to an 80th percentile anomaly that is 450 meters long and up to 100 meters width. The peak value in this anomaly is 1182 ppm TREE+Y. The westernmost 80th percentile anomaly is about 1200 meters long by 300 meters wide and is related to the western extension of the North Fenite Trend past the area of known outcrop. The peak values in this North Fenite Trend western anomaly are 1315 ppm and 636 ppm TREE+Y.
As noted for niobium results, the fenite host rock for known mineralization varies from 5 meters to 160 meters in width, and thus irregular soil anomalies identified on North and South Fenite trends are potentially an artifact of the broad sample spacing for the 2011 soil grid.
The relatively modest soil anomalies for niobium and TREE+Y, associated with known significant niobium and rare earth mineralization in fenite, highlight the potential for discovery of intrusive-hosted niobium-tantalum and rare earth mineralization related to the larger and stronger soil anomalies on the property.
Nickel-Copper Results and Discussion
The 95th percentile exceeds 40 ppm and 79 ppm respectively for nickel and copper in soil with a 70% statistical correlation between nickel and copper. The stronger nickel and copper soil anomalies are associated with Proterozoic aged clastic sedimentary rocks.
Soil sampling has expanded the size of the 90th percentile copper-nickel soil anomaly associated with the nickel discovery (Discovery Anomaly) to about 1000 meters by up to 600 meters. Peak values in this Discovery Anomaly are 3160 ppm copper and 2860 ppm nickel. The sampling density was 50 by 25 meters in 2006, and 50 by 50 meters in 2011 over the Discovery Anomaly.
The 2011 soil sampling program has resulted in the discovery of two new soil anomalies in clastic sediments approximately 1000 meters west and 300 to 400 meters northeast of the Discovery Anomaly. Peak values in these new anomalies are 259 ppm copper and 108 ppm nickel. The northeast copper-nickel soil anomaly may represent a continuation of the Discovery Anomaly. Further systematic exploration is required to explain the bedrock source of these newly recognized copper and nickel soil anomalies in sediments. Soil sampling density was 100 by 100 meters over the new 2011 copper-nickel soil anomalies.
Equity Exploration Consultants Ltd (Equity) managed the summer 2011 rock and soil sampling program and approved the technical content of this release. Equity is a private, Canadian company which is focused on providing high quality mineral exploration services. Henry Awmack P.Eng (a qualified person as defined in National Instrument 43-101) and Dave Swanton of Equity managed the exploration program.
Under the terms of the agreement with True North Gems Inc. ("TGX"), Endurance can earn an initial 51% joint venture interest in the Bandito property by completing a total of C$125,000 in cash payments by December 31, 2012 and also completing C$1,000,000 in exploration expenditures by December 31, 2013. Once Endurance earns its 51% interest, it has a further option to acquire an additional 24% interest (total 75%) by issuing TGX 200,000 shares of Endurance and by completing an additional C$1,000,000 in exploration expenditures prior to December 31, 2015. Endurance has exceeded its 2010 and 2011 work requirements.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, firstname.lastname@example.org
Grab samples are selective by nature and are unlikely to represent average grades within the soil anomaly areas. All 2011 soil samples were analyzed at ALS Minerals Vancouver using the ME-MS81, and ME-AQ81. All 2006 soil samples were analyzed at ALS Minerals Vancouver using the ME-MS61. TREE+Y is the addition of all parts per million (ppm) values for rare earth elements (lanthanum, cerium, praseodymium, neodymium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium) plus yttrium. TREO+Y is the addition of all converted oxide percentage values for rare earth elements plus yttrium. Soil statistics are based on the combination of 2011 soil data (n=1464) and 2006 soil data (n=161) for niobium, copper and nickel. The TREE+Y statistics are calculated on the 2011 data.
"Fenite" alteration is low-sulphide and multiphase with sodium and potassium alteration (albite and k-feldspar), sericite, altered sodium amphiboles, hematite, chlorite, ankerite, fluorite, tremolite-actinolite, biotite, monazite, zircon, rutile, and numerous other unidentified minerals.
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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.