October 20, 2014
Endurance Provides Further Update From The Godzilla Zone, Pardo Joint Venture, Ontario
|Endurance Gold Corporation (EDG -- TSX.V, "Endurance") announces the remaining results from the Godzilla Zone on the Pardo Joint Venture Property ("Pardo JV Property"). The Pardo JV Property is comprised of 16 claims located approximately 65 kilometres ("km") northeast of Sudbury, Ontario. Ginguro Exploration Inc. ("Ginguro") is the operator of the Pardo JV Property and holds a 64.5% ownership interest and Endurance owns a 35.5% ownership interest. Both parties are funding the 2014 program on a pro rata basis, based on ownership.|
All channel sample assays have now been received from a total of 527 metres ("m") of channel samples cut at the Godzilla Zone. A distinct and approximately flat lying rock unit has been recognized and is traceable in the exposed outcrop over a north-south trend. This conglomerate unit contains elevated gold mineralization, such as that represented in Channel 34, which averaged 5.2 grams per tonne ("g/t") gold over 140 m (see press release dated September 2, 2014). This gold-bearing conglomerate sampled at the Godzilla Zone appears to have an average true thickness of approximately 4 m.
New results, not previously reported, include Channel 43 which was cut perpendicular to Channel 34 and averaged 1.5 g/t gold over 28 m, including 8.4 g/t over 4.5 m through the higher-grade conglomerate unit seen in Channel 34. Channels 44 through 48 were cut to the west of Channel 34 and intersected anomalous gold grades ranging from 0.1 g/t over 3 m in Channel 44 and up to 0.6 g/t over 17.5 m in Channel 47. Channels 49 through 61 were cut east of Channel 34 and intersected anomalous to higher gold grades including 1.0 g/t over 50.5 m in Channel 55.
A table summarizing the lengths and average grades of all channels sampled at the Godzilla Zone, as well as maps and cross sections illustrating the geology and channel sample locations can be found on the Company's website at www.endurancegold.com.
Due to the nearly flat lying nature of the host conglomerate and the irregular surface outcrop pattern, this gold bearing conglomerate unit is not consistently exposed at surface. West of the better gold mineralized areas of the Godzilla exposure, an approximate north-south fault exposes the upthrown Archaen unconformity and conglomerates that underlie the "targeted" conglomerate. Between this western fault and Channel 34, the rock exposed is also stratigraphically below the "targeted" gold-rich conglomerate unit and the rocks exposed to the east (generally uphill) are overlying the "targeted" gold-rich conglomerate unit.
The higher grade "targeted" conglomerate unit at the Godzilla Zone has potential to continue to the east as supported by the intersection, in a recent drill hole PD-14-21, of visible gold at a depth of approximately 35 m within the stratigraphic interval which can be correlated with the better gold values at Godzilla. The Pardo JV is currently awaiting assays for drill hole PD-14-21, which is located approximately 200 metres east of the Godzilla Zone. The known gold mineralization within the near surface basal conglomerate on the Pardo JV Property now extends approximately 3 km north-south by approximately 1.1 km east-west.
The operator reports that field crews are mapping the Godzilla Zone in detail and exploring other areas of the Pardo JV Property. This prospecting and geological work will continue through to the end of the October. Assay results will continue to be received through at least mid-November.
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.
In the preparation of this news release, Endurance has relied on data collected and compiled by the Operator of exploration programs, and summarized to the Company for this release. 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 the operator and forming the basis for this release. There has been insufficient exploration to define a mineral resource on the Pardo JV Property to date, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Operator reports that Pardo JV 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. The new samples reported in this release were crushed in their entirety, with a 1kg split then pulverized. Two 50 g aliquots of the pulp were cut out and fire assayed. Results were reported as a weighted average of gold in the fractions. In instances where the averages exceed 10 g/t, the sample is re-run with a gravimetric finish and the gravimetric result is reported. The operator inserts a certified reference standard or an analytical blank in every batch of 20 samples. The operator reports that validation parameters are established in the database to ensure quality control.
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
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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