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 additional channel sampling of the Eastern Reef Zone has been completed, and new areas of previously unknown surface gold mineralization have been identified on the Pardo JV property. Highlights from the Eastern Reef results include a sequence of 170 channel samples that assayed 2.9 grams per tonne ("g/t") gold over 85 metres and, a new zone of mineralized conglomerate with a grab sample assaying 117 g/t gold.
The Pardo JV Property is comprised of 16 claims located approximately 65 km northeast of Sudbury, Ontario. The operator of the Pardo JV Property program is Ginguro Exploration Inc. ("Ginguro") and as announced on May 5 2014, the 2014 Program includes prospecting, stripping and channel sampling, ground penetrating radar, and a radon gas survey. In addition, a study of the primary distribution of gold on the Pardo JV claims will be undertaken. It is anticipated that the study, which will include drilling of new boreholes as well as special large diameter holes, will establish the technical framework for future drilling to assist in defining any mineral resource.
Eastern Reef channel sampling
Assays have been returned from 322 samples taken from the south block of the Eastern reef. Three separate channels were cut across the stripped outcrop. A map showing the location of these Eastern Reef samples has been posted on the company's web site. A summary of length weighted averages are as follows:
Eastern Reef South Block
Length-weighted average sample assays
|Channel #||Length (m)||Au(g/t)||Total samples|
Due to the near flat lying nature of the sedimentary strata, it is not possible to cut samples across the gold-bearing strata. Samples are collected either parallel or perpendicular to the interpreted paleochannel direction. 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. According to the operator, the gold-bearing conglomerate on the Eastern Reef is estimated to have a true thickness of between 3 and 6 metres.
In addition to the South Block, the middle block of the Eastern Reef has also been tested with 6 channels totaling 57.5 meters tested and for which assays are pending.
New prospective zones on the Pardo JV property
The operator has also conducted prospecting, geological mapping and mechanical stripping, with a number of favorable results obtained. More than 8 notable finds have been made to date.
Of particular interest is the location of an extension to the south of the high grade 007 area, which was discovered during last year's field season. Located 75 meters south of the 007 area and below as much as 3 meters of overburden is a pyrite rich conglomerate with radiation counts similar to those observed at 007. An initial grab sample from this new area has returned an assay grading 117g/t gold. The rugged bedrock profile exposed by an excavator is not amenable to contiguous channel sampling. As a result, a series of representative grab samples has been collected and submitted for assay.
In the south western portion of the JV property, the gold-bearing boulder conglomerate layer has been identified for the first time in that area, known as the Western Reef Extension. At that area, very limited stripping has now been done and numerous occurrences have been located. This is illustrated on an additional map that can be found on the Company's web site. A few grab samples from this area have returned encouraging gold assays and in the coming weeks the area will be extensively stripped and channel sampled. Grab samples from this area ranged from trace to 3.9 g/t Au. Highlights consist of the following:
Western Reef Extension
Grab sample highlights
|Sample #||Au (g/t)|
Endurance is currently funding 36.5% and Ginguro 63.5% for the approved 2014 Program. The actual ownership percentage is currently the subject of an arbitration proceeding between Ginguro and Endurance.
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
In the preparation of this news release, Endurance has relied on data compiled and completed by Ginguro as the operator of exploration programs, and summarized to the Company. 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. Bedrock grab samples are selective by nature and are unlikely to represent average grades.
Ginguro reports that Pardo JV channel and grab 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. The channel samples 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.
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.