Endurance Gold Corporation (EDG -- TSX.V, "Endurance") announces new encouraging results from the Godzilla Zone on the Pardo Joint Venture Property ("Pardo JV Property"). The Pardo JV Property is comprised of 16 claims located approximately 65 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.
Assays have now been received for six additional channel samples taken at the recently discovered Godzilla Zone which previously returned an average of 5.2 grams per tonne (g/t) gold over 140 metres from Channel 14-34 (see press release dated September 2, 2014). Channel 14-37, which was cut perpendicular to Channel 14-34, averaged 3.4 g/t gold over 25 metres. Channels 14-38, 14-40 and 14-41, which were shorter channels cut approximately 35 metres east of Channel 14-35 in an overlying conglomerate, averaged 0.1g/t gold over 4 metres, 0.7 g/t gold over 4 metres, and 0.7 g/t gold over 3 metres, respectively. Channel 14-39 was cut perpendicular to Channel 14-34 and averaged 0.7 g/t over 13.5 metres and Channel 14-42, which was cut sub parallel to Channel 14-34, averaged 0.7 g/t gold over 8 metres. There are different conglomerate horizons exposed at Godzilla however, the significantly gold-bearing conglomerate at the Godzilla Zone appears to have an average true thickness of approximately 4 metres.
Maps illustrating the geology and channel sample locations can be found on the Company's website at www.endurancegold.com.
The operator reports that a total of 527 metres of channel sample were cut across the Godzilla Zone. Assay results for 236.5 metres of channel samples at the Godzilla zone remain outstanding and are expected in the next few weeks. The exposed outcrop area that contains the Godzilla Zone mineralization measures 175 metres north-south by up to 125 metres east-west.
Due to the near flat lying nature of the sedimentary strata, it is not always possible to cut samples across the gold-bearing strata. The operator reports that samples are 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. The known gold mineralization within the nearly flat-lying near-surface basal conglomerate on the Pardo JV Property now extends approximately 3 kilometres north-south by approximately 1.1 kilometres east-west.
The operator reports that field crews are continuing the work of exploring new target areas of the Pardo JV. The prospecting and geological work will continue throughout the fall as long as weather permits
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. Potential quantity and grade is conceptual in nature. 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 six channel samples summarized in this release and channel 14-34 north reported earlier, 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. Earlier reported samples for channels 14-34 south, 14-35 and 14-36 were crushed in their entirety, with a 1kg 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. For both techniques, 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.
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.