Endurance Gold Corporation (EDG -- TSX.V, "Endurance") announces that the operator of the Pardo Joint Venture property ("Pardo JV Property"), Ginguro Exploration Inc. ("Ginguro"), has today provided the following update of the ongoing exploration program on the Pardo JV Property. The Pardo JV Property is comprised of 16 claims located approximately 65 km northeast of Sudbury, Ontario. Ginguro holds a 64.5% ownership interest in the Pardo JV and Endurance owns a 35.5% ownership interest. Both Ginguro and Endurance are funding the 2014 program on a pro rata basis based on ownership interest.
Prior to the recent discovery of the Godzilla Zone, the operator cut initial channel samples from both the 007 Zone Extension and the Western Reef Extension. This release summarizes activities and initial results from all three areas, as well as other ongoing exploration activities. Maps illustrating the geology of the discovery areas and channel sample locations can be found at www.endurancegold.com.
The gold mineralization within the nearly flat-lying basal conglomerate at the Pardo JV now extends approximately 3 km north-south by approximately 1.1 km east-west.
Exploration activity continues at the recently discovered Godzilla Zone, where initial channel sampling has previously returned 17.4 g/t gold over 3 metres, 14.1 g/t gold over 4 metres, and 26.2 g/t gold over 3 metres (see press release dated July 28, 2014). The Godzilla Zone has now been exposed by stripping within an increased area that now measures 175 metres north-south by up to 125 metres east-west. A total of 436 half metre channel samples have been cut and delivered to the assay lab, with results still pending. Further channel cutting, consisting of approximately 300 additional half metre samples, will be completed before channel sampling commences at new prospects identified this summer. The gold-bearing conglomerate sampled at the Godzilla Zone appears to have an average true thickness of approximately 4 metres.
007 Zone Extension
An area of mineralized gold enriched conglomerate was found approximately 80 metres south of the high grade 007 Zone, named the 007 Zone Extension. This small outcrop area has now been excavated to depth and three separate channel samples have been taken to characterize the grade of this new find. These three channel samples returned 14.3 g/t gold across 3 metres, 13.4 g/t gold across 2 metres and 4.7 g/t gold across 1.5 metres. The gold-bearing conglomerate sampled at the 007 Zone Extension appears to have an average true thickness of approximately 3 metres.
Western Reef Extension
Prospecting in an outlying area in the western portion of the JV property resulted in the identification of the target basal Mississagi conglomerate at a site located one kilometre southwest of the Godzilla Zone and two kilometres southwest of the Eastern Reef. This new area of exposure corresponds with the southern extension of the Western Reef basal conglomerate that was explored by drilling in 2012. Channel samples from this new exposure at the Western Reef Extension range in value for individual half metre channel samples from trace to multiple grams gold per tonne, on the partial assays returned to date. Highlights of the collated Western Reef Extension channel samples include 1.8 g/t gold over 11 metres and 1.0 g/t gold over 11 metres. Assays for a further 80 half metre samples remain outstanding. The gold-bearing conglomerate sampled at the Western Reef Extension appears to have an average true thickness of approximately 4 metres.
Due to the near flat lying nature of the sedimentary strata, it is not always possible to cut samples across the gold-bearing strata. Samples are usually collected either parallel or perpendicular to the interpreted paleochannel direction. Therefore, the channel lengths reported in this release represent the gold distribution over the surface area sampled and do not represent true thicknesses of the mineralized unit.
Prospecting and Radon Gas Survey follow up
On the Pardo JV property, most of the gold mineralization in the host conglomerate is located at or near surface, and thus prospecting, stripping and channel sampling has been very successful and is continuing. Part of the prospecting over the coming months will include a follow up on the recently completed radon gas survey which has generated several anomalies that remain unexplained. The radon gas survey was designed to identify areas of elevated uranium minerals in bedrock. At Pardo, uranium concentrations are known to be closely associated with elevated concentrations of gold in the host conglomerate.
The prospecting is prioritized along a north-south trend that includes the 007 Zone and the Godzilla Zone. This north-south trend appears to be related to a "paleo" trough-like formation about 500 metres in width in which the host conglomerates of the Mississagi formation have eroded and formed a wide channel in the underlying gold-bearing sedimentary strata. As a result, the Mississagi formation conglomerate in this wide channel has become significantly enriched with "placer" gold in a long-lived braided river setting. This interpreted trend extends from approximately 700 metres north of the 007 Zone to 850 metres south of the Godzilla Zone for a total of 2,000 metres north-south and an east-west width that may exceed 500 metres.
Gold Grain Study
A study of the primary distribution of gold at Pardo has been ongoing for the past month. This study has involved drilling several short diamond drill holes as pilot holes for larger diameter hammer drill holes. The drilling and sample collection phase is complete and the samples are currently being analyzed under the direction of an independent engineer. It is anticipated that the results of this study will provide important parameters to include in planning for the next drill program that will support possible resource estimates for the Pardo JV.
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
In the preparation of this news release, Endurance has relied on data compiled and completed by Ginguro as 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 compilation of the technical information provided by Ginguro and forming the basis for this release.
Ginguro reports that Pardo JV samples are transported in security sealed bags for preparation at AGAT Prep Lab located in Sudbury, Ontario. Prepped samples are shipped for analysis to the AGAT Assay Laboratory in Mississauga, Ontario. AGAT Laboratories Ltd. is an ISO 17025 registered laboratory. The channel samples summarized in this release were assayed using a modified pulp metallic assay procedure. The entire sample was crushed and pulverized to 85% passing 100 mesh. The +100 mesh material was fluxed and assayed in its entirety, while two 50 g aliquots of the -100 mesh undersize pulp were cut out and fire assayed. Results were reported as a weighted average of gold in the three fractions. Ginguro reports that they insert a certified reference standard or an analytical blank in every batch of 20 samples and that validation parameters are established in the database to ensure quality control.
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.