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 67 drill holes for a total of 1507 meters of drilling has been completed on the Pardo Property. In 2012, thirty five (35) vertical drill holes were completed on the Trench 1-2 target on the Pardo Property and were designed to further explore a shallow flat-lying gold zone discovered by Endurance. The Pardo Property is 45% owned by Endurance and is comprised of 16 claims covering approximately 33 square kilometers and is located 65 kilometers northeast of Sudbury, Ontario.
Drilling has expanded the "footprint" of the approximately flat-lying gold zone at the Trench 1-2 target area to 400 by 400 meters in size. Highlights of the drilling include:
- 13.6 grams per tonne gold (gpt Au) over 0.83 meters (m),
- 13.2 gpt Au over 0.75 m,
- 27.2 gpt Au over 0.25 m,
- 31.0 gpt Au over 0.25 m,
- 15.8 gpt Au over 0.25 m, and
- 13.8 gpt Au over 0.25 m.
Within this 400 x 400 meter area, the deepest intersection in the current drilling program was 16.47 meters below surface. The shallow zone of gold mineralization at the Trench 1-2 area is still open to expansion in all directions. Results from the Western Reef target on the Pardo Property remain to be reported by the operator.
A complete tabulation of the Trench 1-2 target area drilling is appended at the end of this press release and illustrated on the Company's website.
Geological studies have demonstrated similar geologic processes are 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, near a regionally significant unconformity.
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. The approved 2012 drilling program is fully funded by GEG.
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 tabulated, 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.
Pardo Gold Joint Venture Property 2012
|GEG Assay Results From Trench 1-2 area drilling|
|Hole||From (m)||To (m)||Length (m)||Gold (g/t)|
|Note: Intervals reported approximate true widths of mineralization.|