Endurance Gold Corporation (EDG -- TSX.V) (the "Company") is pleased to report assay results from the first three (3) reverse circulation ("RC") drill holes completed in December 2020 at its Reliance Gold Property (the "Property") in southern British Columbia. The Property is located 4 kilometres ("km") east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced about 4 million ounces of gold. Assay results are still pending on the remaining thirteen (13) drill holes.
All three (3) drill holes in this release are from the Eagle Zone and the drill intersections are estimated to be approximate true widths. Two of the RC drill holes collared in the better grade mineralization and the third hole intersected the mineralized shear at a shallow down-hole depth. Significant assay results from three RC holes are reported below.
A drill hole plan map, a table of the individual sample gold grades, and three vertical sections across the Eagle Zone (5635816N, 5635793N, 5635770N) are appended below and available on the Company website. The Eagle Zone mineralization is interpreted to be hosted within a low-angle shear structure striking northwest and dipping southwest at approximately 35 degrees. The RC drill program has shown that the dip of the mineralized shear host is shallower than previously modelled. As a result, the Eagle Zone drill holes intersected mineralization at the collar or shallow depth. The Eagle Zone remains open to expansion downdip to the southwest, and along strike to the southeast. Results for the remaining thirteen (13) drill holes are expected to be received and reported over the next two months.
"These exciting drill results demonstrate the potential for the Reliance Property to host a high-grade structurally hosted gold deposit within a productive gold camp", stated Robert Boyd, CEO of Endurance Gold. "The widths of the higher-grade mineralized zones at the Eagle discovery, the historic multiple high-grade drill intercepts at the Imperial Zone, and the 1.2 km long robust surface geochemical anomaly associated with an intense alteration signature, highlight the excellent exploration potential of the Royal Shear zone. We look forward to expanding on these results with further drilling along the Royal Shear."
As reported in our News Release dated January 6, 2021, pXRF analysis identified significant intervals of enriched arsenic and antimony in fourteen (14) of the sixteen (16) drill holes completed. The high-grade intersections in these three reported holes together with elevated pXRF arsenic results provide reason to expect that a further eleven (11) holes will report additional gold-bearing intervals at the Eagle, Eagle South, Imperial, and Imperial North zones.
The Company is preparing updates for shareholders on the 2020 biogeochemical survey and other geological studies. We will also continue with preparation and completion of technical reports for the 2020 program and, in anticipation of additional encouraging results from the 2020 drilling, we have initiated planning for the 2021 exploration program which will include further drilling on the Property.
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.
RC samples were collected under the supervision of a geologist at the drilling rig. Drilling was completed using a 3.5 inch hammer bit and rock chip samples were collected using a cyclone. Sample size were reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips were collected for reference material and stored. All RC samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they are crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples are then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold are re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb are re-analyzed by Sb-AA08 methodology. The pXRF analysis was conducted by a Company geotechnician at the project site on the RC coarse chips that were saved as reference material. An Olympus Vanta XRF Analyzer was used for the analysis which is capable of measuring elements from concentrations as low as single parts per million (ppm).
The work program was supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release.
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.