Endurance Gold Corporation (EDG -- TSX.V) (the "Company") is pleased to provide an update on its 2020 exploration program on the Reliance Gold Property (the "Property") in southern British Columbia. The Property is located 4 kilometres ("km") east of the village of Gold Bridge with year-round 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 was recently completed and results have confirmed a significant magnetic anomaly associated with known gold prospects along the Royal Shear. The Royal Shear is now interpreted to have a strike length of at least 2.5 km.
The Royal Shear is a northwest trending steeply dipping thrust fault with an associated shear zone up to 30 metres ("m") in width. In areas of known gold mineralization, the hanging wall of the thrust is largely chert and the footwall is dominantly andesitic volcanics that have been sheared and intensely iron-carbonate altered. All of the observed gold prospects on the Royal Shear are hosted within the iron-carbonate altered and silicified footwall over about 700 m of the structural trend.
The sting-mounted airborne magnetic survey was flown by Precision GeoSurveys on 100 m spaced lines 40 m above ground level using a Scintrex CS-3 split beam cesium vapor magnetometer. In addition to discovery of a magnetic anomaly associated with the best known gold prospects on the Royal Shear, the resulting airborne magnetics data together with observations from initial field work has extended the interpreted structural trend on the Royal Shear to a total of 2.5 km and also identified four (4) other subparallel lineaments on the property named Steep, Treasure, Camp, and Nemo. Gold mineralization has been identified with the Royal Shear, Treasure, and Camp lineaments. In addition, antimony has been historically identified along the Nemo lineament. Grab samples have been recently collected for gold analysis along several of these additional structures. Summary figures showing the results from the residual magnetic intensity, calculated vertical gradient airborne survey data, location of the interpreted northwest trending lineaments, and a summary geology and gold occurrence map are inserted below and are available on the company's website.
Most of the known gold prospects can be accessed from existing forestry roads and by exploration trails excavated between 1985 and 2008. About 5 km of these former exploration trails are currently being cleared of overgrowth to provide access to outcrop exposures of the Royal Shear where the Company will conduct systematic sampling and detailed geological mapping. A talus fine soil sampling program encompassing about 700 m of strike along the Royal Shear has already been initiated with completion of this program expected by the end of July. Within the same area a biogeochemical sampling program of Douglas Fir cuttings will provide for a comparison to traditional soil sampling methods.
The Company's Notice of Work drill permit application has been accepted by the BC Ministry of Energy and Mines and has been referred to other resource agencies for consultation. To expedite the permit application process, the Company has engaged an expert archeological consultant to complete an assessment of the Property. The Company is committed to a mutually beneficial relationship with local First Nations and thus will arrange for a community representative to accompany the archeological consultant during the field assessment. Dialogue is active and the Company has also been engaging First Nation contractors to assist in the 2020 exploration activities. The Company is dedicated to the safety of the local community, First Nations, its employees and contracting crews during this COVID-19 pandemic and has implemented the recommended protocols.
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 m (est 1.8m true width), 7.05 gpt gold over 5.06 m (est 2.05 m true width), 5.70 gpt gold over 12.05 m (est 9.5 m true width), 5.43 gpt gold over 15.35 m (est 10 m true width), and 2.16 gpt gold over 12.13 m (est 6.5 m 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 in plan and section for the Reliance Property are available on the company website.
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.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, email@example.com
Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the historic 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.
The 2020 exploration program is being managed by Darren O'Brien, P.Geo, an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news 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.