June 01, 2015
Endurance Announces 007 Zone Drilling Update - Pardo JV, Ontario
|Endurance Gold Corporation (EDG -- TSX.V, "Endurance") announces drilling results from the 007 Zone Target 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. |
Assays for the five (5) drill holes in the 007 Zone Target Area have now been received. Mineralization considered significant, and which approximates true width, is summarized in the following table:
||No Significant Mineralization
Holes 15-21 through 15-25 were drilled at approximately 50 to 70 metre step-outs from the 007 Zone high-grade channel samples reported in August 2013 to test both the extent and thickness of the host conglomerate for the high-grade surface mineralization exposed at the 007 Zone. The drilling has confirmed that the basal boulder conglomerate "MiBC" is continuous surrounding the 007 Zone and remains open for expansion towards the north, east and west (see 007 Section). Due to the easterly dip of a north-south fault the MiBC was not encountered in hole 15-25 and only partially encountered in 15-23 due to faulting. The MiBC is also interpreted to continue to the southeast but this area between the 007 and Godzilla zone is complicated and semi-continuous as a result of the effects of a post mineral diabase dike in the area. The location map and section for the 007 drilling can be viewed in the news release on the Company's website at www.endurancegold.com.
The elevated gold values obtained from this drilling correspond with the detrital pyrite-rich conglomerate facies observed in the 2015 drill core. The facies observed can also be correlated with the facies in holes 14-01 and 14-03 drilled on the 007 Zone which returned gold values of 3.6 g/t over 1.03 metres and 4 g/t over 1.21 metres respectively. This correlation implies the channel that deposited the high-grade surface mineralization at the 007 Zone extends under cover towards the north, east and west.
The majority of mineralization on surface and drill core in the MiBC at the 007 Zone consists of detrital pyrite and free gold "clustered" in fluvial traps that are interstitial to the boulders in the conglomerate. With the diameter of the drill core used, the grade of the vertical drill intersections through the MiBC in the 007 Zone drill holes may not be indicative of the representative grade of the MiBC Reef in this area. The higher grade mineralized conglomerate at the 007 Zone and the Godzilla zone, both in surface channels and drill holes, have now been confirmed as the same MiBC conglomerate facies.
The assay results for eight (8) selected better grade samples from these drill holes were assayed at a second independent assay lab and results from the second lab showed consistently higher gold values by an average of 29 percent. The values included in the table above are an average of the grade reported by both labs.
Inventus Mining Corp., formerly Ginguro Exploration Inc. ("Inventus") is the operator of the Pardo JV Property and holds a 64.5% ownership interest and Endurance owns a 35.5% ownership interest.
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, firstname.lastname@example.org
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.
In the preparation of this news release, Endurance has relied on information prepared 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 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 a delineated mineral resource.
The operator of the JV reports that the samples of this release were transported in security sealed bags for preparation and assay at Act Labs located in Sudbury, Ontario. Act Laboratories Ltd. is an ISO 17025 registered laboratory. The additional sample checks mentioned above were made at Agat Laboratories Ltd. The samples reported 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 3 g/t, the sample is re-run with a gravimetric finish and the gravimetric result is reported. The operator of the JV inserts a certified reference standard or an analytical blank in every batch of 20 samples. Validation parameters are established in the database to ensure quality control.
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