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Rattlesnake Hills 2% NSR, Wyoming

The Company, through its US subsidiary Endurance Resources Inc. (ERI), owned or had an option for a 100% interest in about 7,000 acres in the Rattlesnake Hills Gold District, Natrona County, Wyoming.

In October 2015, GFG Resources Inc. ("GFG") acquired Endurance's 100-per-cent interest in the Company's Rattlesnake Hills property through the payment of US$150,000 in cash to Endurance, and the issuance of 1,400,000 GFG shares to Endurance (850,000 GFG shares issued on closing and the balance of 550,000 GFG US shares paid in February 2017). Endurance retains a 2% net smelter returns royalty ("NSR") on Endurance's former mining claims. GFG can purchase one half of the 2% NSR, at any time, for a cash payment of US$1,500,000.

Through the Sale, the Company has exchanged its 100% ownership in a portion of the Rattlesnake Hills Gold District for a 2% NSR royalty on 7,000 acres and a significant share ownership in GFG, which now controls, under one owner, about 33,500 acres which constitutes the entire Rattlesnake Hills Gold District.

The geological setting of the Rattlesnake Hills Gold District is similar to a large scale alkaline intrusive hosted gold deposits within the Rocky Mountain alkaline gold province, that include Cripple Creek, in Colorado, that has produced 20 million ounces of gold to date. The Rattlesnake Hills Gold District encompasses an area over 15 square kilometres and hosts the North Stock Gold Discovery also owned by GFG. At the North Stock Discovery, drill results include 2.92 grams per tonne gold ("gpt Au") over 146.3 metres, 10.8 gpt Au over 67.1 metres, and 2.74 gpt Au over 131.1 metres associated with breccia related to the Tertiary intrusions.

The Endurance 2% NSR Property encompasses eighteen (18) mapped Tertiary volcanic breccia-phonolite complexes which define both the northern half and eastern and western extensions of the Rattlesnake Hills Gold District, Wyoming. These Tertiary-aged volcanic complexes are related to the known gold mineralization in the district.

The Endurance 2% NSR Property covers widespread areas of Tertiary phonolite (alkalic) intrusions emplaced into Precambrian aged sediments and metavolcanics. Most of the intrusions have associated pyroclastic breccia. Crackle breccia and adularia alteration spatially associated with the intrusions is observed in Archean basement in exposed areas on the Endurance 2% NSR Property. Some of these areas of breccia and alteration have elevated gold values in grab samples. This geological environment is identical to that hosting the North Stock Discovery, where gold mineralization occurs in breccia zones within and surrounding the alkalic intrusions.

Since acquisition GFG has conducted exploration programs including drilling in the district. In 2018 GFG optioned the Rattlesnake Hills Property to Newcrest Mining Limited who commenced a drilling program that will continue through 2019. For a current update visit GFG's website.

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 summary.


Related News Releases


February 09, 2017: Endurance Announces Receipt Of A Further 550,000 GFG Resources Inc. Shares - Rattlesnake Hills Property Divestment Is Now Complete  (more...)

October 17, 2016: Endurance Announces Update on Rattlesnake Hills District, Wyoming  (more...)

June 29, 2016: Endurance Announces Update On Rattlesnake Hills District, Wyoming  (more...)

October 13, 2015: Endurance Closes the Sale of Rattlesnake Hills Property, Wyoming  (more...)

August 10, 2015: Endurance Announces Sale of Rattlesnake Hills Property, Wyoming  (more...)

November 21, 2013: Endurance Completes 2013 Rattlesnake Hills Exploration Program in Wyoming  (more...)

September 03, 2013: Endurance Initiates 2013 Rattlesnake Hills Exploration Program, Wyoming  (more...)

April 10, 2013: Endurance Significantly Expands Rattlesnake Hills Gold District Property, Wyoming  (more...)

November 12, 2009: Endurance Granted State Leases Totaling An Additional 2,560 Acres In Rattlesnake Hills, Wyoming ; Quantec Geophysical Survey Defines Strong Targets On Two 100% Owned Claim Blocks;  (more...)

October 27, 2009: Endurance Completes Drilling on the Nechako Gold Project, B.C., and Geophysics in the Rattlesnake Hills, Wyoming  (more...)

October 06, 2009: Exploration Update on Rattlesnake Hills, Wyoming and Drilling to Commence at Nechako, B.C.  (more...)

July 14, 2009: Endurance To Initiate Phase Two Exploration Program On 100% Owned Gold Properties In Rattlesnake Hills Area, Natrona County, Wyoming  (more...)

June 25, 2009: Endurance Identifies Gold Mineralization On 100% Owned Gold Properties In Rattlesnake Hills Area, Natrona County, Wyoming  (more...)

February 27, 2009: Endurance Acquires Five Gold Properties In Rattlesnake Hills Area, Natrona County, Wyoming  (more...)

Geology & Endurance Royalty Ownership

Phonolites, Linears & Surface Gold Prospects

2015 Gold in Soil Map

2015 Arsenic in Soil Map

 

Looking SW from the 2% Royalty Claims to Drills Turning on the North Stock Discovery 

 

Access Road to Rattlesnake Hills

DC Phonolite Intrusive

STP Phonolite and Breccia Ridge

TMS Ring Dyke and DC Phonolite

STP Phonolite Knob

 


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This page was created on Mon Nov 18, 2019 at 3:14:01 AM Pacific Time.