Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to announce that the operator of the Pardo Joint Venture property ("Pardo JV Property") has informed Endurance that it has received the remainder of channel sampling results from both the Eastern Reef Zone and the 007 Zone. The Pardo JV Property is comprised of 16 claims covering approximately 33 square kilometres and is located 65 kilometres northeast of Sudbury, Ontario.
With the new results, the Pardo JV is now able to provide a comprehensive summary of all channels sampled to date at both the Eastern Reef and the 007 Zones. Maps of each of the Eastern Reef and the 007 Zones illustrating the channel sample locations, as well as tables showing detailed assay results, can be found on the Company's website at www.endurancegold.com. The Eastern Reef Zone is located in the north-central part of the Pardo JV Property, with the 007 Zone located 600 metres southwest of the Eastern Reef Zone. The Operator reports that work to date suggests that the area between these zones is underlain by similar geology.
The 007 Zone has been tested with four separate channels sawn across the rock surface. These channels are comprised of continuous 50 centimetre sampling intervals designed to give a best estimate of average grades across the exposed surface. Channels 106 and 114 are oriented roughly north-south and channels 109 and 110 are oriented approximately perpendicular to Channels 106 and 114. All assays have now been received from these four separate channels cut and sampled to date at the 007 Zone. Results of these aggregate channels are summarized as follows:
- Channel 106 averaged 36.5 grams per tonne (gpt) gold across 31 metres.
- Channel 109 averaged 7.8 gpt gold across 7.5 metres.
- Channel 110 averaged 28.7 gpt gold across 20 metres.
- Channel 114 averaged 2.2 gpt gold across 5.5 metres.
Eastern Reef Zone
At the Eastern Reef Zone, stripped off exposures have been subdivided into three areas of continuous exposed outcrop, designated as the north block, middle block and south block. All assays now have been received from the five separate channels cut and sampled to date. Starting from the northern most end of the north block, Channel 107 is oriented along the axis of the north block, trending south-southwest, then turns to the southeast. Channels 111, 112 and 113 are oriented perpendicular to Channel 107. Results of all sampled channels at the Eastern Reef Zone's north block are summarized as follows:
- Channel 107 averaged 4.2 gpt gold across 92.5 metres.
- Channel 111 averaged 5.5 gpt gold across 6.5 metres.
- Channel 112 averaged 4.8 gpt gold across 9.5 metres.
- Channel 113 averaged 5.4 gpt gold across 14.5 metres.
In the south block, Channel 108, which sampled the southern half of the south block, is oriented roughly north-south and averaged 2.8 gpt gold across 49.5 metres.
There are not yet any channels sampled in the middle block, nor in the northern half of the south block.
Average channel assays reported in this release are in respect of all channels sampled to date at both the Eastern Reef and the 007 Zones. These averages include some previously announced results. Channel lengths reported in this release represent gold values within the conglomerate outcrop at surface and do not represent true thicknesses of the gold bearing conglomerate. The gold-bearing conglomerate is estimated to have a true thickness of between 3 and 6 metres in at the Eastern Reef Zone and approximately 2 metres at the 007 Zone.
Both the Eastern Reef and the 007 Zones are located within the Pardo JV Property. Endurance currently holds a 45 percent joint venture interest in the Pardo Property. The operator of the Pardo JV Property program is Ginguro Exploration Inc. ("GEG") with a 55 percent joint venture interest. A 2012 program was approved by the joint venture in April 2012. Endurance elected not to contribute to the 2012 program and is currently evaluating financial and technical reports recently received from the operator to determine its current interest.
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 Bandito Rare Earth-Niobium Property in the Yukon, the Elephant Gold Property in Alaska, and the Rattlesnake Hills Gold Property in Wyoming.
In the preparation of this news release, Endurance has relied on data compiled and completed by GEG as the operator of exploration programs. 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 GEG and forming the basis for this release.
GEG 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. Samples are analyzed by industry standard 50 gram fire assay fusion with atomic absorption spectroscopy (AAS) finish, and a gravimetric finish on samples exceeding 10 g/t gold. GEG inserts a certified reference standard or an analytical blank in every batch of 20 samples. 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.
Table 1: 007 Channel Sampling Assays - 8/29/13
|Pardo JV Property|
|Sample||Length (cm)||Au (g/t)|