December 16, 2019
Endurance Reports Surface Sampling of 10 gpt Gold Over 5 m at the Reliance Gold Property in B.C.
|Endurance Gold Corporation (EDG -- TSX.V) (the "Company") is pleased to announce encouraging surface sampling results on the Reliance Gold Property (the "Property"). Sampling efforts were largely focused on the Royal Shear and recent assay results have confirmed encouraging gold results on surface. Highlights of the results include 10 grams per tonne ("gpt") gold over 5 metres ("m") at the Imperial Zone and 4.6 gpt gold over 2 m at the Senator Zone prospects. |
On September 12, 2019, the Company announced an option to earn a 100% ownership in the Property which is located 5 kilometers ("km") east of Gold Bridge and 10 km north of the Bralorne-Pioneer Gold Mining Camp which has historically produced over 4 million ounces of gold. The Property was previously explored with trenching and diamond drilling from 1985 through 2008. Gold mineralization is associated with wide zones of alteration within several subparallel north and northwest trending structures. The most explored structure is the Royal Shear which hosts the Diplomat, Senator, Imperial, Crown and Eagle Zones. Historic surface grab and chip sampling results from these zones, together with drilling, indicate a mineralized gold system over at least 750m of strike and 250m vertically that requires a systematic exploration program to evaluate. Based on historic soil sampling and continuing alteration, the Royal Shear Zone remains open and unexplored along strike in both directions indicating potential for extension of the mineralized system by an additional 1,000 m or more.
The gold mineralization is hosted within areas of alteration up to 30 m wide in the Royal Shear. Continuous alteration within the Royal Shear consists of ankerite-sericite-clay altered volcanics encompassing areas of silicification, quartz-stibnite veining, vein stockwork, vein breccia and quartz-feldspar porphyry. Reference samples of various alteration, rock types and interpreted mineralized zones have recently been collected from the Property. Twenty-two of these samples were sent for gold analysis. The best result from the Imperial Zone assayed 10 gpt gold over 5 m (sample reference is RL Imp Area rs) was collected in September 2019 from a road cut as shown on a photo available on the Company website. The total sample weight was 2.11 kilograms ('kg") consisting of representative chip and grab sampling within a panel extending about 5 m of horizontal length and 1 m height. The deeply weathered outcrop is ankerite-sericite-clay altered volcanic which has been sheared and brecciated in the footwall of the Royal Shear. Weathering of this alteration results in exposure of orange, yellow, brown and rusty gouge with some observed fine-grained black sulphide interpreted to be stibnite. There was no obvious silicification or quartz veining observed in the collected sample. True width of this sampled zone is expected to be narrower than the sampled width, but the horizontal strike of the sample length was approximately perpendicular to the strike of the ankerite altered and sheared volcanic at the Imperial Zone.
The best sample result from the Senator Zone assayed 4.6 gpt gold over 2 m (sample reference is RL rb 4) was collected from a similar road cut about 75 m west-southwest of the previous sample. The total sample weight was 1.01 kg collected from a panel extending over 2 m of horizontal length and 1 m height. At this outcrop, brown to orange weathering ankerite-sericite-clay altered, sheared and brecciated volcanic is also present. At this location, fine grained banded silicification and quartz veining was observed associated with fine grained black sulphide interpreted to be stibnite.
As previously reported, the property was last diamond drilled in 2008. The drill program targeted the Imperial Zone, and returned highlight drill intersection widths of 13.30 gpt gold over 4.20 m (est 1.8m true width), 7.05 gpt gold over 5.06m (est 2.05m true width), 5.70 gpt gold over 12.05m (est 9.5m true width), 5.43 gpt gold over 15.35m (est 10m true width), and 2.16 gpt gold over 12.13m (est 6.5m true width), in five (5) drill holes. The Company recently completed correlation coefficient geostatistics for assay data from the 2008 drilling. This indicates a good correlation between gold and arsenic (r=0.79), a positive correlation between gold and antimony (r=0.56) and a weaker but positive correlation between arsenic and antimony (r=0.27). This suggests that, paragenetically, gold deposition is more closely associated with arsenic than antimony which is similar to the nearby Bralorne-Pioneer Mining Camp. Photos of the drill core and some highlighted samples of mineralized Reliance core are available on the Company website.
A summary figure with these 2019 results, historic sampling and the 2008 drill results for the Reliance Property is available on the company website.
The Company intends to proceed with the Property option and conduct a 2020 exploration program consisting of mapping, rock sampling, channel sampling, and soil sampling. Initially in the new year, as weather permits, the Company intends to restore the high-bank surface road exposures and clear trails at the five zones on the Royal Shear to facilitate chip and channel sampling as well as geological and structural mapping. After permitting, a diamond drilling program will follow in the summer.
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.
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 representative chip and grab samples mentioned in this release were analyzed for gold only at SGS Canada by GE_FAA30V5. The single over-limit sample that exceeded 10,000 ppb gold was analyzed by SGS Canada by GO_FAG30V. Confirmation standards were inserted by SGS Canada with each of the two analytical techniques. Bedrock representative chip and grab samples mentioned in this release are potentially selective by nature and are unlikely to represent average grades within the bedrock when drilled.
Except for the drilling completed in 2008, the historic exploration drilling activity cannot be relied upon due to poor quality georeferencing and lack of down-hole dip information. Despite estimates, the drill intersections mentioned in this release may not accurately represent the true width of the intersection. In 2008 all cut and/or split core samples were analyzed by ICP analyses at Ecotech Analytical Laboratory. Samples that exceeded 1,000 ppb Au were rerun by lead collection fire assay at the same laboratory using a preferred 30 gram sub-sample size.
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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