July 21, 2014
Exploration Update - Pardo Gold Joint Venture, Ontario
|Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to announce that the operator of the Pardo Joint Venture property ("Pardo JV Property") has provided an update on exploration activities underway at the Company's Pardo JV property, located approximately 65 km northeast of Sudbury, Ontario.|
The Pardo JV program of prospecting, stripping, washing and channel sampling new areas has advanced favourably, with several new promising areas uncovered. Diamond drilling has also commenced and this drilling program is near completion. The large diameter hammer drill program is expected to start shortly, and the radon gas survey is also nearly complete.
Sampling progress and new results
Assays have been received from six separate channels cut across the stripped outcrop in the middle block of the Eastern reef. A summary of length-weighted averages is as follows:
|Table 1: Eastern Reef Middle Block
Length-weighted average sample assays
A map showing the location of the gold zones and sample locations is posted on the company's web site at www.endurancegold.com.
A new area of surface mineralization named the 1214/Trench 2 Connection area has been uncovered between the Eastern Reef and the original Trench 2 discovery area. Assays for five channels cut across the 1214/Trench 2 Connection area have been received. Six additional channels remain with assays pending. Summaries of length weighted averages for the first 5 channels are as follows:
|Table 2: 1214/Trench2 Connection Area
Length-weighted average sample assays
Due to the near flat lying nature of the sedimentary strata, it is not always possible to cut samples across the gold-bearing strata. Samples are usually collected either parallel or perpendicular to the interpreted paleochannel direction. Therefore the channel lengths reported in this release represent the gold distribution over the surface area sampled and do not represent true thicknesses of the mineralized unit. The gold-bearing conglomerate on the Eastern Reef has a true thickness of approximately 6 metres. The gold bearing conglomerate at the 1214/Trench2 area is estimated to be 3 to 5 metres thick.
In addition to these areas, channel samples have been taken at the 007 South Extension and the Western Reef Extension. At the 007 South Extension, three short channels totaling 6.5 metres in length have been cut and assays are pending. This new area was initially tested with nine grab samples that retuned gold grades ranging from trace to 117 g/t and averaging 18.0 g/t. (see Company's press release dated June 23, 2014).
At the Western Reef Extension located 2 km southwest of the Eastern Reef, 11 channels totaling 119 metres have been cut. All assays for these samples are pending. Initial grab samples from this new area yielded up to 3.9 g/t gold (see Company's press release dated June 23, 2014).
Prospecting with the intention of locating new areas of surface gold mineralization is ongoing.
To date 17 diamond drill holes have been completed largely in the 007, Eastern Reef and Western Extension areas. Eleven of these holes have been logged and 250 samples taken for assay. All of the drill assay results are pending. The remaining 6 holes will be sampled in the coming days. Further diamond drilling in support of the ongoing gold study is planned.
The large diameter hammer drilling component of the gold study is about to commence. This drilling uses a percussion rig to drill six-inch diameter vertical holes, and collect large samples through the flat-lying mineralized conglomerate primarily on the 007 Zone and the Eastern Reef. The drilling activity related to the gold study is being conducted under the direction of Mr. Jim Tilsley, a recognized expert in determining best sampling protocols for gold resource estimation. The results of this work will provide important parameters for planning future resource drilling.
Radon Gas Survey
A radon gas survey designed to identify areas of buried heavy mineral concentrates that include both gold and minor uranium minerals is near completion, final results will follow shortly thereafter. Preliminary results are encouraging, and show good correlation with known gold zones and also new areas of anomalous radon gas concentration that remain unexplained. These anomalies will be prioritized for follow up as part of the current program.
Ginguro Exploration Inc. currently holds a 64.5% ownership interest in the Pardo JV. Endurance owns a 35.5% interest in the JV. Both companies are funding on a pro rata basis.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits. The Company's exploration focus, for projects operated by Endurance, is intrusive-related mineral systems with potential for discovery of major new precious or rare metals deposits, and its business plan offers shareholders exposure to several majority-owned exploration projects with significant discovery potential such as the Elephant Gold Property in Alaska, the Rattlesnake Hills Gold Property in Wyoming, and the Bandito Rare Earth-Niobium Property in the Yukon. Please visit www.endurancegold.com.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, email@example.com
In the preparation of this news release, Endurance has relied on data compiled and completed by Ginguro as the operator of exploration programs, and summarized to the Company. Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the technical information provided by Ginguro and forming the basis for this release. Bedrock grab samples are selective by nature and are unlikely to represent average grades.
Ginguro reports that Pardo JV channel and grab samples are transported in security sealed bags for preparation at AGAT Prep Lab located in Sudbury, Ontario. Prepped samples are shipped for analysis to the AGAT Assay Laboratory in Mississauga, Ontario. AGAT Laboratories Ltd. is an ISO 17025 registered laboratory. Samples are analyzed by industry standard 50 gram fire assay fusion with atomic absorption spectroscopy (AAS) finish, and a gravimetric finish on samples exceeding 10 g/t gold. The channel samples were assayed using a modified pulp metallic assay procedure. The entire sample was crushed and pulverized to 85% passing 100 mesh. The +100 mesh material was fluxed and assayed in its entirety, while two 50 g aliquots of the -100 mesh undersize pulp were cut out and fire assayed. Results were reported as a weighted average of gold in the three fractions. Ginguro reports that they insert a certified reference standard or an analytical blank in every batch of 20 samples and that validation parameters are established in the database to ensure quality control.
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.
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