Vancouver, British Columbia--(Newsfile Corp. - November 14, 2022) - Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to report additional assay results from the recently completed diamond drilling program on its Reliance Gold Property (the "Property") in southern British Columbia. The road accessible property is located 4 kilometres ("km") east of the village of Gold Bridge, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.
The primary objectives of the 2022 drilling program are to extend the strike of the mineralized system and to test the extent of mineralized feeder structures below the shallow-dipping, near-surface Eagle Zone. In 2022, a total of thirty-eight (38) diamond drill holes for 8,274 metres ("m") and thirty-three (33) reverse circulation holes for 2,455 m were completed. Assays are still pending for sixteen (16) diamond drill holes.
Assay results reported herein are from six (6) diamond drill holes completed in the Eagle Area which confirm a 400 m strike potential of the Eagle South Feeder Zone. Highlights of the drilling results include:
DDH22-044 returned 4.95 grams per tonne ("gpt") gold over 12.1 m including 12.55 gpt gold over 4.3 m. The hole also returned 3.52 gpt gold over 4.0 m from a second deeper structure.
DDH22-042 returned 2.99 gpt gold over 12.0 m including 7.35 gpt gold over 4.3 m from an Eagle South Feeder structure in a 250 m step-out to the northwest from hole DDH21-020 which previously reported 15.7 gpt gold over 24.8 m (see News Release January 12, 2022).
Other intersections within the northwest extension of the Eagle South Feeder Zone include:
DDH22-040 with 2.08 gpt gold over 13.3 m including 8.85 gpt gold over 2.6 m.
DDH22-039 with two significant intersections o 1.58 gpt gold over 13.3m including 6.37 gpt gold over 1.5 m and a deeper intersection of 0.78 gpt gold over 15.1 m.
The Eagle South Feeder Zone continues to be open along strike and to depth.
"Results reported to date from the 2021 and 2022 diamond drill holes continue to deliver over seventy-five percent of drill holes returning significant gold intersections," commented Robert T. Boyd, CEO of Endurance Gold. "As previously reported, drilling has confirmed that the near surface shallow dipping Eagle Zone extends over a 500 metre strike. In addition, a total of nineteen significant intersections along a 400 m trend are now confirmed in the Eagle South Feeder Zone, which remains open to expansion along strike and to depth."
As reported in August, drilling within the Eagle South Feeder Zone has identified multiple quartz vein zones with estimated horizonal widths ranging from 5 to 52 m. The most significant veins with associated mineralization to date are the 024, 037, and 027 Veins. These quartz veins exhibit a pervasive crackle breccia texture with gold-arsenopyrite mineralization concentrated in more intense cataclastite brecciation along the quartz vein margins.
The Eagle South Feeder Zone is bound by the shallower dipping Eagle Zone to the northeast and the steeply dipping Royal Shear Fault to the southwest. The area of deformation related to this target area is open along strike and to depth below the southwest dipping Royal Shear Fault (see Figure 2). As reported above, significant gold intersections have been reported over 400 m of this Eagle South Feeder Zone. an area of brittle-ductile deformation, strong pervasive ankerite-sericite alteration, and multiple brecciated quartz veins.
Assay results are pending on drill holes DDH22-045 to DDH22-060. Results from these remaining sixteen (16) drill holes and other program updates will be reported through year-end and into the New Year. Two (2) of the drill holes tested the northern strike extensions of the Imperial Zone. The drill has now been demobilized and will return in the New Year.
The location of the thirty-six (36) Eagle Area diamond drill holes completed in 2022 is shown in Figure 1. An interpretation of the geology and gold zone locations for DDH22-042 is shown on a cross-section Figure 2. A longitudinal projection along the Imperial, Diplomat and Eagle Zones showing gold intersections to date and the exploration potential at depth in the Eagle South Feeder Zone and along the Royal Shear is shown on Figure 3. The 2022 diamond drill assay results reported in this release and year to date are summarized in Table 1 and Table 2 below. A schematic geological interpretation of the Eagle Area is available on the Company website in the maps section. The complete tabulation of previous RC and 2021 diamond drill results are summarized on the Company website.
The Company recently closed an over-subscribed non-brokered private placement (the "Financing") and issued a total of 4,855,562 Units at a price of $0.42 per Unit for gross proceeds of $2,039,336 (see News Release November 1, 2022). The Company would like to clarify that the aggregate number of Units subscribed by the insiders of the Company in the Financing was 2,054,012 Units, not the 2,554,012 Units disclosed in its November 1 news release. The gross proceeds of the Financing and the number of Units issued were unchanged. This clarification is issued at the request of the TSX Venture Exchange to facilitate their final acceptance.
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
Diamond drill core was logged and evaluated on the Property and samples designated for collection under the supervision of a geologist at the property. Drilling was completed with NQ size tools capable of collecting 4.76 centimetre diameter core. Drill core was cut using a diamond saw with one half of the core sent for analysis and the remaining kept for future studies. Sample intervals were typically 2 metre core length and intervals were shortened for lithology or alteration changes. All drill core samples have been submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they are crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples are 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 parts per million ("ppm") gold are re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb are re-analyzed by Sb-AA08 methodology. Endurance Gold monitors QA/QC by inserting blanks, certified standards and pulp duplicates into the sample stream. The 2022 work program is supervised by Darren O'Brien, P.Geo., Vice President Exploration for the Company and the 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.
Figure 1: Eagle Zone and Eagle South Feeder Zone - 2022 Diamond Drill Hole Locations
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Figure 2: Eagle Zone and Eagle South Zone - DDH22-042 Cross Section
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Table 1: 2022 Diamond Drilling - Significant Intersection Results Reported on November 14, 2022
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Figure 3: Royal Shear Longitudinal Section - Diplomat, Imperial and Eagle Areas
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Table 2: 2022 Diamond Drilling - All Significant Gold Intersections
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144091