October 22, 2020 Endurance Receives Drill Permit for the Reliance Gold Property in B.C.
Fall Drilling Program Expected to Mobilize in November
Endurance Gold Corporation (EDG -- TSX.V) (the "Company") is pleased to announce that it has been informed that the Company's Notice of Work Application for a multi-year drill program for its Reliance Gold Property (the "Property") in southern British Columbia has been Approved. The Property is located 4 kilometres ("km") east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.
The approved permit, issued by the B.C. Ministry of Energy, Mines and Petroleum Resources, allows for the completion of full range of exploration activities which includes drilling, drill roads, and Induced Polarization geophysical programs commencing in 2020.
A program of reverse circulation ("RC") drilling is expected to commence in November with a series of short holes testing below outcrop channel sampling conducted by the Company during the 2020 field season. Previously reported channel sampling results include 8.9 grams per tonne ("gpt") gold over 9.6 metres ("m") within a wider mineralized zone of 6.92 gptgold over 13.4 m at the Eagle South Zone (see Press Release dated October 15, 2020); and channel sample results of 4.1 gpt Au and 0.85% antimony over 3.7 m at the Imperial Zone (see Press Release dated September 9, 2020). Additional channel sample results are expected shortly from the Eagle Zone where grab samples have returned up to 19.2 gpt gold and 8.5% antimony from stibnite bearing quartz veins in outcrop (see Press Release dated September 9, 2020).
The RC drilling will complete 3.5 inch diameter inclined holes using a track-mounted rig and employing existing forest service roads and historic exploration trails. An RC program was selected to test the mineralized zones within 50 metres of surface where the host rock is typically oxidized and friable and historic diamond drilling indicated poor core recovery at shallow depths. RC drilling will alleviate the historic recovery issues.
The company has conducted other low-impact exploration activities since May 2020. Activities completed to date include completion of a helicopter-borne airborne magnetics survey, talus fine/soil geochemical survey, biogeochemical survey, geological structural mapping, assessment of historic available drill data and core, orientation rock and chip sampling followed by systematic channel sampling of altered and mineralized areas of the Royal Shear exposed in pre-existing road cut outcrops.
The Company is proud of its efforts to engage and inform the local communities including the First Nation communities. Prior to mobilization for this drilling program, engagement and dialogue will continue with the affected First Nation communities to determine how we might be able to dovetail opportunities for mutually beneficial participation.
The Company acquired an option to earn a 100% interest in the Property in September 2019. The Property was previously explored with trenching and diamond drilling from 1985 through 2008. The last program of drilling in 2008 targeted the Imperial Zone and returned highlight drill intersection widths including 13.30 gpt gold over 4.20 m (est 1.8m true width).
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.
Channel samples were collected by a geologist and assistant using a hand-held electric hammer "demolition" chisel which extracts a continuous channel in outcrop horizontally across a pre-measured and marked outcrop face. In 2020 all rock and channel samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they were crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples were then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold were re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb were re-analyzed by Sb-AA08 methodology. Grab samples are selective by nature and are unlikely to represent average grades on the property or within the target areas. The work program was supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release.
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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