Endurance Gold Corporation (EDG -- TSX.V) (the "Company") is pleased to announce that its 2020 exploration program has commenced on the Reliance Gold Property (the "Property") in southern British Columbia. The Property is located 4 kilometers ("km") east of the village of Gold Bridge with year-around road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which produced over 4 million ounces of gold. A helicopter supported aeromagnetic geophysical survey is currently in progress and a field program which includes geochemical sampling and geological mapping was initiated in late May.
The 2020 exploration program will consist of compilation of historic data, airborne geophysics, geological mapping, rock, channel, soil, and biogeochemical sampling. A drilling program is planned for late summer to test for near surface mineralization within the Royal Shear. Drilling permits are pending.
The Company is committed to a mutually beneficial relationship with local First Nations. Dialogue is active and the Company is engaging First Nation contractors for potential opportunities during the 2020 exploration program. The Company is dedicated to the safety of the local community, First Nations, its employees and contracting crews during this COVID-19 pandemic. The Company has implemented Infection Prevention and Control Protocols into its normal operating procedures utilizing guidelines of the BC Public Health Officer and the BC Chief Mines Inspector.
The Company acquired an option to earn a 100% interest in the Property in September 2019. The Property was previously explored with trenching and diamond drilling from 1985 through 2008. The last program of drilling in 2008 targeted the Imperial Zone, and returned highlight drill intersection widths of 13.30 grams per tonne ("gpt") gold over 4.20 meters ("m") (est 1.8m true width), 7.05 gpt gold over 5.06m (est 2.05m true width), 5.70 gpt gold over 12.05m (est 9.5m true width), 5.43 gpt gold over 15.35m (est 10m true width), and 2.16 gpt gold over 12.13m (est 6.5m true width), in five (5) drill holes.
In December 2019 the Company announced the results from a program of surface rock sampling completed in September 2019 which included 10 gpt gold over 5 m at the Imperial Zone and 4.6 gpt gold over 2 m at the Senator Zone prospects. Summary maps of the historic and 2019 surface sampling results and the 2008 drill results for the Reliance Property are available on the company website.
Gold mineralization is associated with areas of shearing and alteration up to 30 m wide in the Royal Shear Zone and two other known subparallel northwest trending structures. The most explored structure is the Royal Shear which hosts the Diplomat, Senator, Imperial, Crown and Eagle Zones. Historic surface grab and chip sampling results from these zones, together with drilling, indicate a mineralized gold system over at least 750m of strike and 250m vertically that requires a systematic exploration program to evaluate. Based on historic sampling and alteration, the Royal Shear Zone remains open and unexplored along strike in both directions indicating potential for extension of the mineralized system by an additional 1,000 m or more.
The alteration within the Royal Shear Zone consists of ankerite(iron carbonate)-sericite-clay altered andesitic volcanics encompassing areas of silicification, quartz-stibnite veining, vein stockwork, vein breccia and some quartz-feldspar porphyry. Weathering of this iron-carbonate alteration results in exposure of orange, yellow, brown and rusty gouge with some observed fine-grained black sulphide interpreted to be stibnite.
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.
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 2019 representative chip samples mentioned in this release were analyzed for gold only at SGS Canada by GE_FAA30V5. The single over-limit sample that exceeded 10,000 ppb gold was analyzed by SGS Canada by GO_FAG30V. Confirmation standards were inserted by SGS Canada with each of the two analytical techniques.
Bedrock representative chip and grab samples mentioned in this release are potentially selective by nature and are unlikely to represent average grades within the bedrock when drilled.
Except for the drilling completed in 2008, the historic exploration drilling activity cannot be relied upon due to poor quality georeferencing and lack of down-hole dip information. Despite estimates, the drill intersections mentioned in this release may not accurately represent the true width of the intersection. In 2008 all cut and/or split core samples were analyzed by ICP analyses at Ecotech Analytical Laboratory. Samples that exceeded 1,000 ppb Au were rerun by lead collection fire assay at the same laboratory using a preferred 30 gram sub-sample size.
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.