Endurance Gold Corporation (EDG -- TSX.V) announces that it has vested its 60% interest in the Nechako Gold Property, located 75 kilometres west of Quesnel, in central British Columbia. The Company was required to have spent $250,000 in exploration, and issue 250,000 shares to Amarc Resources Inc., by August, 2008. On completion of a three hole, 422.2 metre diamond drilling program, Endurance has now exceeded that expenditure commitment.
The diamond drilling program on the property was condensed to three holes due to unforeseen and unfavourable weather conditions. As a result, drilling productivity was poor, and the Company was incurring significant costs with no appreciable progress. After a week of delays, and no forecast change in the weather, a decision to terminate the program was considered to be the most cost effective and prudent option.
The three holes completed on the property were all drilled to test IP chargeability features in the southwest corner of the property. All three holes intersected predominantly argillites, with minor inter-bedded conglomerates and quartz feldspar porphyry dyking. The argillites were variable graphitic, which explain the IP chargeability anomalies. Samples from the drilling program have been submitted to ALS Chemex in Vancouver for analysis. Results will be reported when available.
There was no opportunity to test the primary target, a deep hole beneath a zone of known mineralization (to 611 ppb Au over 64 metres) as defined by Lac Minerals in the 1980's. Endurance will complete an expanded drilling program in the late spring, as conditions allow.
Dave Pawliuk, P. Geo., and Duncan McIvor, P. Geo., jointly supervised the drilling program, and are responsible for the content of this news release.
ENDURANCE GOLD CORPORATION
Duncan McIvor
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT
Jeffrey Wilson, Corporate Communications (604) 868-0225, or visit our website at www.endurancegold.com
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