Endurance Gold Corporation (EDG -- TSX.V, "Endurance") announces further results from the Pardo Joint Venture Property ("Pardo JV Property"). The Pardo JV Property is comprised of 16 claims located approximately 65 kilometres ("km") northeast of Sudbury, Ontario. Ginguro Exploration Inc. ("Ginguro") is the operator of the Pardo JV Property and holds a 64.5% ownership interest and Endurance owns a 35.5% ownership interest. Both parties are funding the 2014 program on a pro rata basis, based on ownership.
The operator has reported that the 2014 Pardo JV field program is now concluded. Highlights in this release include 53.6 grams per tonne (g/t) gold over 0.7 metres in a Line 34 channel sample and 1.5 g/t gold over 0.2 metres in a drill hole with visible gold.
Channel sample results from Line 34, sampled within the Matinenda paleoplacer confirm anomalous gold and the potential for high-grade gold bearing layers. A series of five (5) trenches oriented north to south were excavated to expose the Matinenda. A total of 17 channels were systematically taken to evaluate the mineralized conglomerates. Channel highlights include: channel 77 with 53.6 g/t over 0.7 metres, channel 70 with 1.2 g/t over 4 metres, channel 66 with 1.1 g/t over 6 metres. Detailed maps of the trenches indicating channel locations can also be found on the Company's website at www.endurancegold.com.
The operator reports the high-grade assay of 53.6 g/t over 0.7 metres suggests that the Matinenda paleoplacer is prospective for hosting high grade strata. A table of the results is listed below.
Table 1: Summary of Line 34 channel sampling
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.
Two diamond drill holes from the 2014 program tested the eastern extension of the Godzilla Zone. Drill holes PD-14-20 and 21 located about 200 metres east of Godzilla tested the gold bearing Mississagi conglomerates discovered at the Godzilla Zone and intersected a 1.2 to 3 metre flat lying conglomerate package at depth from 4 to 36 metres. Visible gold was detected in PD-14-21 at a depth of 34.93 metres. The other core half was sent for assay and returned a value of 1.5 g/t gold over 0.2 metres.
Table 2: Highlights of drill hole assays
|Note: Intervals reported approximate true widths of mineralization.|
In the preparation of this news release, Endurance has relied on data collected and compiled by 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 the operator and forming the basis for this release. There has been insufficient exploration to define a mineral resource on the Pardo JV Property to date, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The operator 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 new samples reported in this release were crushed in their entirety, with a 1 kg split then pulverized. Two 50 g aliquots of the pulp were cut out and fire assayed. Results were reported as a weighted average of gold in the fractions. In instances where the averages exceed 10 g/t, the sample is re-run with a gravimetric finish and the gravimetric result is reported. The operator inserts a certified reference standard or an analytical blank in every batch of 20 samples. The operator reports that validation parameters are established in the database to ensure quality control.
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
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