October 12, 2017
Endurance Announces Encouraging Results At The Trout Target, Elephant Project, Alaska
Soil samples include high gold values up to 2.33 ppm and 2.1 ppm gold
Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to report encouraging results from a soil and rock sampling program (the "Program") completed in August on the Trout Target. The Trout Target is located on the Trout property which was acquired earlier this year to expand and enhance the exploration potential of the Company's Elephant Property. The Elephant Mountain Project, which includes the Elephant, Trout and Wolverine Properties, 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 districts near Eureka, Alaska.
The Trout Target is located approximately nine km northeast of the Elephant Property. Prior exploration had defined a 1,000 metre ("m") by 300 m gold-in-soil anomaly with values in excess of 100 parts per billion ("ppb") gold which is centered on an interpreted northeast striking shear zone which transects the syenomonzonite intrusive ("Trout Anomaly"). The best assay results reported from prior sampling included a 1,880 ppb gold-in-soil sample and a gold-in-rock grab sample which assayed 9.64 grams per tonnes ("gpt") gold associated with a quartz veining within the shear. The Trout Anomaly has never been tested with drilling.
"We are pleased that the Trout Anomaly has advanced to become our fifth high priority drill target at Elephant" commented Robert Boyd, President and CEO of Endurance. "This 2017 soil survey has identified gold-in-soil values over 1 ppm along an encouraging strike length within the 1000 metre long +100 ppb soil anomaly. These are the highest gold-in-soil values that the Company has identified to date on the Elephant Project".
The Program evaluated the central portion of the Trout Anomaly with the collection of a total of 31 power auger soil samples and 12 rock samples with the objective of increasing the density of sampling and upgrading the Trout Anomaly to a drill target. Mapping identified an iron-oxidized intrusive-hosted shear zone which was observed over a variable 8 to 23 m width with a northeast trending strike length.
Coincident with the observed shear zone, the 2017 soil sampling has defined a 50 m wide (+100 ppb) gold-in-soil anomaly with a strike length of 170 m in the central part of the larger Trout Anomaly. Within this anomaly is a 10 to 15 m wide (+500 ppb) gold-in-soil anomaly with an open strike length of approximately 130 m. Peak values within the +500 ppb gold contour include 2,330 ppb gold and 2,100 ppb gold, and up to 4.14 ppm silver. The higher gold-in-soil results are associated with higher arsenic-in-soil. Due to oxidation and recessive weathering there is no outcrop within the shear zone but frost boils in the area of the highest gold-in-soil have yielded oxidized quartz veining with grab samples assaying up to 1.26 ppm and 1.065 ppm gold, and up to 16.4 ppm silver. The shear zone and the +500 ppb gold-in-soil anomaly are open in both directions.
Plan maps showing the location of the Trout soil sample grid and rock samples with analytical results to date are available at www.endurancegold.com.
The Elephant Mountain Project which hosts 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 -- With the identification of this compelling Trout Target, the Company has now identified five drill targets supported by chargeability anomalies and gold-in-soil at the Elephant and Trout Properties. The objective of the 2017 sampling program is to also advance at least one other target to drill stage. Soil and rock sample results are still pending on the South Fork and Wolverine targets and will be reported over the next few weeks. Due in part to a prolonged delay in receiving analytical results, the Company has deferred the implementation of a drill program until the spring.
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 shares in GFG Resources Inc. (GFG-TSXV) which controls the entire Rattlesnake Hills gold district in Wyoming, USA.
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 grab samples from the 2017 sampling program were analyzed at ALS Minerals using Au-ST43, Au-ICP21, and ME-MS41. The auger soil samples from the 2017 sampling program were also analyzed at ALS Minerals using Au-ST43, Au-AROR43 (>100 ppb), and ME-MS41. Both Endurance and 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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