Endurance Gold Corporation (EDG -- TSX.V, "Endurance") announces drilling results from the Godzilla Zone and Mid-Fan Target on the Pardo Joint Venture Property ("Pardo JV Property"). The Pardo JV Property is comprised of 16 claims located approximately 65 kilometres ("km") northeast of Sudbury, Ontario. Inventus Mining Corp., formerly Ginguro Exploration Inc. ("Inventus") is the operator of the Pardo JV Property and holds a 64.5% ownership interest and Endurance owns a 35.5% ownership interest. The Company has elected to participate in funding its 35.5% participating interest in the 2015 Pardo JV Winter Program announced on January 15 2015.
Drilling commenced in March and to date, 25 holes have been completed totaling 420 metres on the Pardo JV. Assays for the first 20 holes have now been received and significant mineralization is summarized in the following tables:
Godzilla Zone Drilling
|PD-15-06||Did not intersect conglomerate|
|PD-15-08||No significant intersections|
|PD-15-14||No significant intersections|
|PD-15-15||No significant intersections|
|PD-15-20||Did not intersect conglomerate|
Holes 15-06 through 15-20 in the Godzilla Zone indicate the true thickness of the basal conglomerate reef termed "MiBC" to be approximately 10 metres where erosion has not removed the upper portion. At the Godzilla Zone, the top of the MiBC is well mineralized with detrital pyrite and associated gold. This well mineralized, higher-grade upper portion is approximately 1.5 to 2.0 metres thick and was exposed by a stripping and channel sampling program completed last summer (see press release dated September 2nd 2014). At the Godzilla Zone, the reef is interpreted to represent a preserved braided river boulder conglomerate channel of the Precambrian-aged Mississagi Formation.
The majority of mineralization on surface and drill core in the upper MiBC consists of detrital pyrite and free gold "clustered" in fluvial traps that are interstitial to the boulders in the conglomerate. With the diameter of the drill core used, the grade of the vertical drill intersections through the upper portion of the MiBC may not be indicative of the representative grade of the MiBC Reef in this area, or the rest of the property.
Mid Fan Target Drilling
Holes 15-01 to 15-05 targeted the Mid-Fan Target area. The Mid-Fan target is in excess of 800,000 sq. metres and located east and southeast of the Godzilla Zone. These holes successfully demonstrated the extension of the MiBC reef at the Godzilla Zone into the Mid-Fan Target area. The top of the MiBC is approximately 25 to 40 metres below surface and approximately 10 metres thick in this area.
Location maps for all drill holes reported to date can be accessed on the Company website at www.endurancegold.com.
Additional Results Expected
The remaining drill holes 15-21 through 15-25 were drilled to test the continuity of high-grade mineralization in the MiBC occurring on surface at the 007 Zone. Samples from these five drill holes have been delivered to the lab and assays are pending.
A further 180 metres of diamond drilling will be completed after spring breakup.
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 Elephant Gold Property in Alaska, the Rattlesnake Hills Gold Property in Wyoming, and the Bandito Rare Earth-Niobium Property in the Yukon. Please visit www.endurancegold.com.
ENDURANCE GOLD CORPORATION
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.
In the preparation of this news release, Endurance has relied on information prepared by the operator of exploration programs, and summarized to the Company for this release. Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the information provided by the operator and forming the basis for this release. There has been insufficient exploration to define a mineral resource on the Pardo JV Property to date, and it is uncertain if further exploration will result in a delineated mineral resource.
The operator of the JV reports that the samples of this release were transported in security sealed bags for preparation and assay at Act Labs located in Sudbury, Ontario. Act Laboratories Ltd. is an ISO 17025 registered laboratory. The samples reported were crushed in their entirety, with a 1kg split then pulverized. Two 50 g aliquots of the pulp were cut out and fire assayed. Results were reported as a weighted average of gold in the fractions. In instances where the averages exceed 3 g/t, the sample is re-run with a gravimetric finish and the gravimetric result is reported. The operator of the JV inserts a certified reference standard or an analytical blank in every batch of 20 samples. Validation parameters are established in the database to ensure quality control.