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 new encouraging results 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.
The operator reports that assays have been received for the first two continuous channel samples taken at the recently discovered Godzilla Zone. Channel 14-32 returned an average of 10.4 grams per tonne (g/t) gold over 29 metres. Channel 14-33, which was cut perpendicular to channel 14-32, averaged 1.4 g/t gold over 14 metres. The exposed outcrop area for the Godzilla Zone measures 175 metres north-south by up to 125 metres east-west. The gold-bearing conglomerate sampled at the Godzilla Zone appears to have an average true thickness of approximately 4 metres.
Results have also been returned from two channels taken from the Western Reef Extension. These new results consisted of 1.3 g/t over 5.5 metres and 0.7 g/t over 4.5 metres. The Western Reef Extension is located one (1) kilometre southwest of the Godzilla Zone and two (2) kilometres southwest of the Eastern Reef. The gold-bearing conglomerate sampled at the Western Reef Extension appears to have an average true thickness of approximately 4 metres. All outstanding assays from the Western Reef extension have now been received.
The Company also wishes to correct certain disclosure reported on August 13, 2014 which also describes the setting of the Godzilla zone and other gold zones on the Pardo JV. Two channels at the Western Reef extension were reported by the Operator to include 1.8 g/t gold over 11 metres and 1.0 g/t gold over 11 metres. The sample lengths were misstated and actual results should read 1.8 g/t gold over 5.5 metres and 1.0 g/t gold over 5.5 metres.
Maps illustrating the geology and channel sample locations can be found on the Company's website at www.endurancegold.com.
The established gold mineralization within the nearly flat-lying basal conglomerate at Pardo now extends approximately 3 km north-south by approximately 1.1 km 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. 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.
In the preparation of this news release, Endurance has relied on data collected and compiled 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. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on the Pardo property to date, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. 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. Ginguro 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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