Endurance Gold Corporation (EDG -- TSX.V) is pleased to announce that a light weight portable diamond drill is now on-site and has commenced a program to test several copper-nickel, rare earth, and niobium prospects identified during the recent summer exploration program. A summary of the initial results from mapping and rock sampling for the recent summer field program was provided in the Company's release dated September 8, 2011.
Priority targets that are scheduled for drill testing include:
- A rare earth target on the eastern extension of South Fenite trend with reported grab sample values of up to 2.235% and 1.256% total rare earth oxides plus yttrium (TREO+Y);
- A rare earth target on the eastern extension of the North Fenite trend. Areas on this trend have reported sample values of up to 2.558% TREO+Y over 0.5 meters with high percentage neodymium, and;
- Two niobium prospects where grab samples reported values of 0.26% Nb2O5 and greater than 0.36% Nb2O5 associated with magnetic mafic metasomatized host rocks or fine grained mafic syenite.
The objective of the drilling program is to test these targets in areas of thin overburden and poor outcrop to establish the nature of the mineralization. Several priority copper and nickel targets have been proposed for drilling. These prospects have grab sample values up to 2.53% copper, 1.76% copper, and 11.0% nickel. Logistical access to water has resulted in these copper-nickel drill holes being deferred until the next drill program.
Endurance has engaged Aurora Geosciences Ltd of Whitehorse as the drill contractor and to manage the current program. The drilling program is being managed by Michael Wark, P. Geol., Project Manager - Geology for Aurora Geosciences' Whitehorse office and a Qualified Person under NI 43-101 requirements. The Winkie drill being used for this program will have a minimal impact to surface disturbance and is lightweight, compact, and can be carried by two men in difficult terrain. Total weight of the drill and frame is 185 pounds (84.1 kg.). Angled drill holes are possible. Drill holes will be shallow and used as an expeditious alternative to trenching and result in less surface disturbance than trenching.
Under the terms of the agreement with True North Gems Inc. ("TGX"), Endurance can earn an initial 51% joint venture interest in the Bandito property by completing a total of C$125,000 in cash payments by December 31, 2012 and also completing C$1,000,000 in exploration expenditures by December 31, 2013. Once Endurance earns its 51% interest, it has a further option to acquire an additional 24% interest (total 75%) by issuing TGX 200,000 shares of Endurance and by completing an additional C$1,000,000 in exploration expenditures prior to December 31, 2015. Endurance has exceeded its 2010 and 2011 work requirements.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
Grab samples are selective by nature and are unlikely to represent average grades on the property or within the target areas
All 2011 samples were analyzed at ALS Minerals using the ME-MS81, ME-AQ81 and OG46 for high copper. For ME-MS81, a prepared sample (0.200 g) is added to lithium metaborate flux (0.90 g), mixed well and fused in a furnace at 1000°C. The resulting melt is then cooled and dissolved in 100 mL of 4% HNO3 / 2% HCl solution. This solution is then analyzed by inductively coupled plasma - mass spectrometry. The lithium metaborate fusion is not the preferred method for the determination of base metals, thus the prepared sample was also subject to an aqua regia digestion (ME-AQ81) and analyzed by inductively coupled plasma -- atomic emission spectroscopy for the reporting of the base metal values. For ME-OG26, a sample that analyzed over 10,000 ppm copper with ME-AQ81 is digested in 75% aqua regia for 120 minutes. After cooling, the resulting solution is diluted to volume (100 mL) with de-ionized water, mixed and then analyzed by inductively coupled plasma - atomic emission spectrometry or by atomic absorption spectrometry.
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.