Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to announce that it has commenced its summer exploration program with the execution of a contract to complete a time-domain pole-dipole induced polarization ("IP") with resistivity and proton magnetometer ("Magnetics") ground geophysical survey. The geophysical crew is expected to mobilize to the Elephant Property before the end of June. Further soil and rock sampling, trenching and prospecting will also be completed on the Company's Elephant, Trout and Wolverine Properties this summer and fall. Results from the ground geophysical program will be used to plan a drill program, which the company hopes to commence in the fall.
The three properties that form the Elephant Mountain Project consolidate at least six (6) kilometre-scale gold targets associated with a Cretaceous aged intrusive complex and associated alteration that extends over a strike length of about twelve (12) kilometres ("km"). A map showing the location of the properties and targets is available at www.endurancegold.com. Five (5) of these km-scale gold targets are associated with gold in soil (greater than 100 parts per billion ("ppb") gold with peak values up to 1,880 ppb gold) and rock grab samples up to 11.98 grams per tonne ("gpt") gold. For a descriptive summary of the gold targets on the Trout and Wolverine Properties, please refer to the Company's news release dated April 3, 2017.
The Elephant Mountain Project area can be accessed by the all-weather Elliott Highway about 76 miles (123 km) northwest of Fairbanks within the Rampart-Eureka-Manley Hot Springs placer gold mining district near Eureka, Alaska.
"We are pleased to start exploration at the Elephant Mountain Project with the execution of a ground geophysical contract" commented Robert Boyd, President and CEO of Endurance. "This survey will provide information required to efficiently plan the drilling on three of the six known targets. We are confident in planning step-out holes at the South Zone target but the IP will be critical to planning drill holes to test for higher-grade gold bearing feeder structures at the Central and North Zones. Furthermore, our other exploration activity will be focused on discovering additional km-scale intrusive related gold targets on the Elephant trend."
On the Elephant Mountain Property, the Company will complete at least twenty (20) km of ground-based IP and Magnetics over the South Zone, North Zone and Central Zone Targets.
- On October 31, 2016, the Company reported a discovery drill hole of 4.09 gpt gold over 4.6 metres ("m"), including 20.4 gpt gold over 0.67 m at the South Zone Discovery.
- On December 8, 2016, the Company reported a wide drill intersection of 0.40 gpt gold over 147.1 m, including 0.63 gpt gold over 48.2 m at the North Zone Discovery. The North Zone and South Zone drill holes are separated by 1.4 km.
- The Central Zone Target, an area of no outcrop and deeper cover, is located between the North and the South Zones. An airborne geophysical survey completed in 1998, has identified an intrusive-hosted east-west striking linear feature associated with reduced resistivity between the North and South Zones. In 1992, in the same area, Placer Dome Inc completed a ground based gradient IP resistivity and dipole-dipole IP geophysical survey which identified a chargeability anomaly with dimensions of about 1,500 m by 500 m. The recessive Central Zone target remains untested by diamond drilling. Because of its location between the North and South Zone, the Central Zone may represent a feeder structure for both the North and South Zone targets.
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 Mountain and McCord Gold Properties in Alaska and the Bandito Rare Earth-Niobium Property in the Yukon. The company also owns a significant shareholding in Inventus Mining Inc.(IVS-TSXV) which controls the entire Pardo paleoplacer gold district near Sudbury, Ontario and owns shares in GFG Resources Inc. (GFG-TSXV) which controls the entire Rattlesnake Hills gold district, Wyoming.
Please visit www.endurancegold.com.
Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the information forming the basis for this release. The drill intersections in this release may not represent the true width of the intersection. The split drill core samples from the 2016 drill program were analyzed at ALS Minerals using Au-AA23, Au-GRA21 (>10 g/t), and ME-MS61L. Confirmation standards were inserted within sample shipments by Endurance as well as ALS Minerals inserted standards with each shipment analyzed. The pre-1998 ACNC(Inco), Placer Dome and ASA JV exploration activity and results summarized in this release preceded the implementation of NI 43-101 and furthermore, the original data and reports have not been completely reviewed by the Company. Therefore the historic data summarized in this release should not be relied upon. Bedrock grab samples mentioned in this release are selective by nature and are unlikely to represent average grades within the bedrock when drilled.
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.