Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to announce that the operator of the Pardo Joint Venture property ("Pardo Property") has informed Endurance that a program of 1,500 meters of drilling has been initiated, with the majority of drilling planned on a newly defined five square kilometer target on the Pardo Property. The Pardo Property is comprised of 16 claims covering approximately 33 square kilometres and is located 65 kilometres northeast of Sudbury, Ontario.
Geological work and drilling to-date has demonstrated similar geologic processes at work on the Pardo Property to those that created the world's largest gold deposits in the Witwatersrand Basin of South Africa. Pardo constitutes the discovery of the first confirmed paleo-placer gold prospect in Ontario. The most significant gold intersections from the drilling to-date are related to visible gold, detrital pyrite, and free carbon, hosted within the Proterozoic-aged Huronian Mississagi quartz pebble conglomerate, at a regionally significant unconformity.
As reported on our March 29 news release, the operator initiated a 2012 exploration program of basin analysis which consisted of surface mapping and geophysical analysis of historic drill holes, under the direction of consultants with extensive experience in Witwatersrand environments (the "Basin Analysis"). Using a sophisticated geophysical technology originally developed for the oil and gas industry, downhole survey data from resistivity, density, spectral gamma and acoustic televiewer instruments was collected from inside six drill holes on the Pardo Property. The data was interpreted by specialists and a detailed correlation was completed with drill core from the same six holes in order to vector and identify the "mid-fan" target.
The Basin Analysis was completed in September 2012 and was designed to provide vectors that direct exploration to the most prospective location for discovery of the gold-enriched "mid-fan" setting of the river sediments. The mid-fan setting is the location within a gold-bearing paleo-placer river and delta environment where the highest concentrations of gold typically occur.
The Basin Analysis was successful in identifying a primary target area encompassing over 5 square kilometers located primarily on the Pardo Property. The resulting trend is oriented to the South/South-east and points into an area that has never been adequately evaluated with surface prospecting or drilling. In the past two weeks, detailed geological mapping undertaken to follow-up on the Basin Analysis has confirmed the favourable nature of the geology in the area. The relatively shallow dipping target horizon to be drill-tested is interpreted to be within 50 meters from surface and possibly extending as much as 100 meters depth in some locations.
Endurance currently holds a 45 percent joint venture interest in the Pardo Property. The operator of the Pardo Property program is Ginguro Exploration Inc. ("GEG") with a 55 percent joint venture interest.
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. The Company's exploration focus, for projects operated by Endurance, is intrusive-related mineral systems with potential for discovery of major new precious or rare metals deposits, and its business plan offers shareholders exposure to several majority-owned exploration projects with significant discovery potential such as the Bandito Rare Earth-Niobium Property in the Yukon, the Elephant Gold Property in Alaska, and the Rattlesnake Hills Gold Property in Wyoming.
In the preparation of this news release, Endurance has relied on data compiled and completed by GEG as the operator of exploration programs. Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the technical information provided by GEG and forming the basis for this 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.