Endurance Extends Reliance Gold-in-Soil Anomaly to 1.2 km - Diamond Drill Secured
New Bona and Vista Zone Discoveries Extend the Mineralized Treasure Shear Trend to 700 m
Vancouver, British Columbia--(Newsfile Corp. - July 26, 2021) - Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to provide an update on the ongoing prospecting, channel sampling and soil sampling designed to identify multiple additional drill targets on the Reliance Gold Property (the "Property") in southern British Columbia. The company is also pleased to announce that it has now signed a diamond drill contract with mobilization expected in August. 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 results of the exploration activity reported to date indicate the existence of multiple gold bearing shear zone features within an area encompassing 1,500 metres ("m") of strike, 450 m of horizontal width and over 750 m of vertical extent. To date, exploration has discovered and confirmed gold in drilling at the Eagle Zone, Imperial Zone, Diplomat Zone and the Treasure Prospect. Additional exploration and drilling is required to explore this large prospective area. The diamond drilling program is expected to commence in August but will likely involve multiple drilling campaigns to fully evaluate the gold bearing system.
Eagle Extension Soil Sampling
As reported on June 17, 2021, the furthest southeast reverse circulation drill intersections of the Eagle Zone include 9.87 grams per tonne gold ("gpt Au") over 7.62 m in RC21-040 and 8.95 gpt Au over 3.05 m in RC21-041. Thus, the Eagle Zone discovery in drilling remains open to expansion to the southeast. As reported on February 16, 2021, this area is also associated with a biogeochemical anomaly which extended the exploration potential of the Eagle Zone by another 400 m to the Upper Eagle target. To date in 2021, 151 soil/talus fine samples have been collected from the Eagle Extension through to the Upper Eagle target area and were analyzed at site by pXRF. A subset of 80 soil samples determined to be elevated in arsenic were shipped to ALS Minerals for gold analysis.
The results of these 80 selected soil samples extended the greater than 100 parts per billion ("ppb") gold-in-soil anomaly by 300 m to the southeast of the Eagle Zone drilling. Highlights include four (4) soil/talus fine samples which exceeded 1,000 ppb gold or 1.0 part per million ("ppm") gold. The location of the target areas and associated large soil anomaly are shown on the map below or available on the Company website.
Of particular encouragement are the results of the 3DIP geophysical survey completed in 2021 which have identified a chargeability anomaly that extends to the southeast into the Upper Eagle target area which is associated with the soil anomaly and Eagle Zone mineralization intersected in drilling. That IP chargeability anomaly also extends to the northwest into areas that remain to be explored with drilling.
When combined with the soil/talus fine gold results collected in 2020, the greater than 100 ppb gold-in-soil anomaly associated with the combined Royal Shear and Treasure Shear has been extended to 1.2 km strike and remains open to expansion along trend. Sixteen (16) soil/talus fine samples from combined 2020 and 2021 soil surveys have values that exceed 1.0 ppm gold-in-soil.
New Zones Identified at Bona and Vista
As reported on February 16, 2021, a biogeochemical anomaly was identified associated with the Treasure Shear Trend that indicates strike potential of approximately 1,400 m. As subsequently reported on May 27, 2021, gold was confirmed in bedrock with a drill intersection of 1.6 gpt Au over 6.10 m at the Treasure Prospect. As a result of this encouragement, a review of recently received LiDAR DEM images, prospecting and additional soil sampling was completed and has resulted in the identification of the Vista and Bona showings, two potentially gold-mineralized shear zones along the Treasure Shear trend. Assuming gold is confirmed in these shears, these zones extend the mineralized potential of the Treasure Shear to about 700 m in strike, remaining open to expansion in both directions. The location of the Bona and Vista Zones are shown on the map below or available on the Company website.
Vista Showing - The Vista gold showing was originally identified and reported in 1988 by a prior operator but the location had been lost to overgrowth. There is no historic documented drill testing of this target. The Company believes this zone has now been rediscovered in four (4) spatially associated outcrops along historic road cuts. At the Vista Main Outcrop, fifteen (15) channel samples have been collected over 18.4 m of horizontal distance. In this outcrop, an observed shear zone dipping -50 degrees to the southwest exhibits strong orange ankerite and darker hematite alteration. The shear is hosted in a silicified basalt flow. The Vista West Outcrop is 11 m west of Vista Main Outcrop and, at this location, six (6) channel samples were collected over 8.5 m horizontal distance. The Main and West outcrops exposures with shear zones exposed are separated along the same roadcut by massive, blocky weathering, unmineralized basalt. The third outcrop with oxidized shearing is located 25 m to the northwest of Vista Main Outcrop, and the fourth outcrop associated with oxidized shearing is located 75 m to the northwest of Vista Main Outcrop. Further outcrop stripping and sampling is required to be completed at the third and fourth outcrops. At this time no gold assay results have been received for the Vista Showing but are expected in August.
Bona Showing - The Bona gold showing was originally identified and reported in 1985 by a prior operator but the location had been lost to overgrowth. There is no historic documented drill testing of this target. The Company believes this zone has now been rediscovered. At the Bona Showing, a 7.3 m wide oxidized shear has been recently exposed in outcrop. Six (6) channel samples have now been collected over 10.36 m of horizontal distance. The strike and dip for this shear is unknown but is assumed to have a shallow to moderate dip to the southwest. The shear exhibits strong orange ankerite alteration with local wispy zones of reddish-brown oxidized hematite. At this time no gold assay results have been received for the Bona Showing but are expected in August.
Community Consultation and Engagement - The Company is proud of its efforts to engage and inform local communities, as well as employ local personnel and contractors as much as possible, including the First Nation communities. Engagement and dialogue are continuing with affected First Nation communities to determine opportunities for mutually beneficial participation. This outreach effort has resulted in the Company contracting Tsal'alh Development Corporation (TDC) to assist in providing personnel and contracting assistance with numerous aspects of our exploration program in 2020 and continuing in 2021. The planned diamond drilling activity may involve the excavation of additional drill trails and we are continuing with our engagement with affected First Nation communities to evaluate any impacts or concerns. In addition, we continue to engage other residents and local service providers located within the Upper Bridge River Valley to assist with our exploration program.
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
Soil samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they were prepped and screened to -180 micron using method code SCR-41. Samples were then submitted for aqua regia digestion and analyzed for gold and other trace elements with an ICP-MS finish (method code AuME-TL43). Over limit samples returning greater than 1,000 ppb gold were re-analyzed by Au-AROR43 methodology.
RC samples summarized herein were collected under the supervision of a geologist at the drilling rig. Drilling was completed using a 3.5 inch hammer bit and rock chip samples were collected using a cyclone. Sample size were reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips were collected for reference material and stored. All RC 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 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.
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.
To view an enhanced version of this graphic, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91161