August 28, 2017
Endurance Completes Sampling On New Targets At The Elephant Project, Alaska
Up to 6.60 ppm gold in grab samples and visible gold in quartz veins
Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to report the completion of a soil and rock sampling program on targets within the recently acquired Trout and Wolverine claim blocks. Initial analytical results have been received with complete results of the larger sampling program expected in September. These claims, which include South Fork, Trout and Wolverine target areas, were acquired to expand and enhance the exploration potential of the Company's Elephant Mountain Project. The Elephant Mountain Project can be easily accessed by the all-weather Elliott Highway located 76 miles (123 kilometres ("km")) northwest of Fairbanks within the Rampart-Eureka-Manley Hot Springs placer gold mining district near Eureka, Alaska.
South Fork Target - An initial reconnaissance rock sampling program was completed in early July thatevaluated an east-west striking mineralized structure. Previously reported rock samples contained up to 11.98 grams per tonne ("gpt") gold. Assay results from sampling in July returned gold values up to 6.60 parts per million ("ppm"), confirming the gold potential associated with this structural feature. The mineralization within the structure is related to oxidized sulphides associated with intermittent quartz veining, vein stockwork, and quartz healed breccia hosted in hornfels altered clastic sediments. East-west striking felsic dikes cut the meta-sediments and structure in several locations. The highest gold values received from the first 10 rock samples in the initial July 2017 sampling program are associated with bleached zones of quartz veining and quartz-healed breccia hosted within the structure. These samples also contained anomalous lead (up to 1.940%), arsenic (>1%), bismuth (up to 21.6 ppm) and silver (up to 10.25 ppm).
In August, a follow-up ATV-supported program was completed on the South Fork Target. Exploration involved the collection of 132 soil samples and 102 additional rock samples. This total includes 60 rock chip samples from a shallow 100 metres ("m") long trench, excavated by hand and oriented perpendicular to the strike of the gold-bearing structure. The South Fork soil grid targeted an approximate 1,000 x 300 m area centered on the gold-bearing structure. Rock sampling focused on evaluating the extent and characteristics of the gold-bearing trend. Brecciation and quartz veining, consistent with the gold-enriched samples taken in July, was observed in rock and soil sampling pits extending 200 m to the east of the trench and 400 m to the west of the trench. Brecciation and quartz veining was also observed and sampled up to 100 m to the north of the trench. Interpreted felsic dike intrusive was observed in several locations extending to the west of the trench for at least 530 m.
Trout Target - The Trout Target, located approximately two km southeast of the South Fork Target, is a northeast-southwest trending shear zone hosted within a syenomonzonite intrusive plug. The previously reported 1,000 m by 300 m gold-in-soil anomaly with values in excess of 100 parts per billion ("ppb") gold is centered on this shear zone. The best assay results reported from prior sampling included a gold-in-rock grab sample which assayed 9.64 gpt gold associated with a quartz veining within the shear. No samples were collected at the Trout target during the July reconnaissance sampling program.
In August, mapping, rock and soil sampling evaluated the shearing at the Trout Target with the collection of a total of 31 deep power auger soil samples and 12 rock samples. The exploration successfully outlined an 8 to 23 m wide iron-oxidized intrusive-hosted shear zone over a northeast trending strike length of about 140 m. Stibnite and arsenopyrite was observed in several of the rock samples, however the strong oxidation within the shear made original sulphide mineral identification difficult. The shear zone is open in both directions but is more difficult to sample within the steeper coarse talus areas along strike to the northeast and southwest.
Wolverine Target - A recon program was also completed on Wolverine Mountain in July and August. In July four rock samples were collected and in August the field crew collected an additional eight rock samples and nine soil samples. The majority of the August rock samples were taken in the area where visible gold in rock was identified in 2016 (no assays). The 2016 sample, which contained five grains of gold visible without a hand lens, was contained within a narrow vuggy quartz vein hosted in porphyritic rhyolite in the headwaters of Eldorado Creek, a feeder creek for Quail Creek. This sample site was revisited in August 2017 to identify additional gold bearing rocks and evaluate and determine a sampling strategy for Wolverine. This recon program resulted in the identification of another visible gold bearing rock located about 76 m from the 2016 sample. The six grains of gold observed in this single 2017 sample and visible without a hand lens are contained within the remnants of a narrow quartz vein. The host rock to this veinlet is also quartz-rich intrusive and is interpreted to be of similar genesis to the host rock for the 2016 gold sample. Two rock samples of quartz veinlets in porphyritic monzonite, located approximately 900 m south of the visible gold bearing stockwork, contained anomalous tungsten (870 and 630 ppm W) with low gold values up to 130 ppb. Further fieldwork is required to define the extent of the intrusive that hosts the visible gold bearing quartz veinlets.
Plan maps showing the location of the South Fork rock samples with analytical results to date, location of soil grid, trench and the location of the visible gold samples at Wolverine are available at www.endurancegold.com.
The Elephant Mountain Project includes three properties which host at least six km-scale gold targets associated with a Cretaceous aged intrusive complex and hornfels alteration that extends over a strike length of about 12 km. Five of these gold targets are associated with greater than +100 ppb gold-in-soil and multiple +1 gpt gold in rock samples. A map showing the location of the three properties and targets is also available at www.endurancegold.com.
Next Steps -- The Company has now identified four drill targets supported by chargeability anomalies and gold-in-soil at the Elephant Property. At the Trout and Wolverine Properties the objective of the 2017 sampling program is to advance the Trout and South Fork targets to drill stage. A drilling decision is expected on receipt of the results in September.
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 also owns a significant shareholding in Inventus Mining Inc.(IVS-TSXV) which controls the entire Pardo paleoplacer gold district near Sudbury, Ontario and owns shares in GFG Resources Inc. (GFG-TSXV) which controls the entire Rattlesnake Hills gold district in Wyoming.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, firstname.lastname@example.org
Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the information forming the basis for this release. The drill intersections in this release may not represent the true width of the intersection. The split drill core samples from the 2016 drill program were analyzed at ALS Minerals using Au-AA23, Au-GRA21 (>10 g/t), and ME-MS61L. The grab samples from the 2017 sampling program were analyzed at ALS Minerals using Au-ST43, Au-AROR43 (>100 ppb), and ME-MS41. ALS Minerals inserted standards with each shipment analyzed. Bedrock grab samples mentioned in this release are selective by nature and are unlikely to represent average grades within the bedrock when drilled.
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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