Endurance Gold Corporation (EDG - TSX.V) is pleased to announce that Liberty Gold Corporation ("Liberty") has completed a $20,000 option payment and will continue with their option on the McCord Creek Gold Property, near Livengood Alaska. As part of the 2013 program, sixteen (16) additional Alaska State mining claims were recently staked and recorded, which increase the size of the McCord Creek Gold Property to 49 claims (7,820 acres).
In May 2012, the Company announced that they had granted Liberty an option to earn a 60% joint venture interest in the McCord Creek Gold Property. To earn their interest, Liberty must complete US$600,000 in exploration expenditures and make US$85,000 in cash payments over three years to earn a 60% joint venture interest. The 2012 program, funded by Liberty, expended about US$160,000 on power auger assisted soil sampling and rock sampling.
To date, 439 soil samples and 73 rock samples have been collected from the McCord Creek Gold Property. The 2011 and 2012 programs have identified seven multi-element soil anomalies, associated with multiple anomalous gold values (>100 parts per billion or "ppb"), which are considered to be of exploration significance by David Adams, a qualified person as defined in National Instrument 43-101. The two largest multi-element soil anomalies, exceeding 10 ppb gold, are approximately 1500 by 400 metres, and 1100 by 500 metres in size. The maximum soil value exceeds 100 ppb gold, which is the upper detection limit for the analytical method used. In his November 2012 report, Adams recommends additional claim staking, soil sampling, trenching and geophysics. In follow-up to these recommendations, the 2013 field program is currently in the planning stages.
The McCord Creek Gold property is located in the eastern extension of the Livengood gold district and immediately adjoins International Tower Hill's ("ITH") Livengood Property on the eastern side. ITH have reported an in-situ measured and indicated resource (at 0.22 grams per tonne cut-off) of 16.5 million ounces of gold (see the ITH website for complete disclosure).
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, 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 100%-owned exploration projects with significant discovery potential in Alaska, Yukon, and Wyoming.
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. Robert T. Boyd, P.Geo., President, CEO and Director, is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the information forming the basis for this release