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 additional high grade gold results from the new 007 Zone Discovery on the Pardo paleo-placer gold property. A total of 45 contiguous diamond saw cut channel samples at 0.5 metre ("m") per sample are reported with an average gold content of 40.1 grams per tonne ("gpt") gold along this 22.5m of channel sampling. The Pardo JV Property is comprised of 16 claims covering approximately 33 square kilometres and is located 65 kilometres northeast of Sudbury, Ontario.
The channel samples are contiguous over the surface of the mineralized conglomerates. Individual samples ranged from 0.6 gpt to 172 gpt gold. All samples are summarized in Table 1 appended to this press release and shown on a map available on the Company's website. As the outcrop surfaces have been glaciated, the conglomerate exposures are uneven in thickness, allowing the surface channels to sample varying depths within the sub-horizontal conglomerates. Due to the near flat lying nature of the gold-bearing conglomerates, it is not possible to cut channel samples across the bedding planes. The channel lengths reported in this release represent gold values within the pyritic 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 approximately two metres in this area.
In addition to those samples detailed in the appended table below, an additional 82 samples representing 41 m of channel samples have been collected from the 007 Zone. Results from these samples will be reported when received from the operator. The 007 Zone is located approximately 24m northeast of hole PD-10-107, which was drilled in 2010 did not intersect the pyritic conglomerate and is interpreted to have collared below the strike extension of the conglomerate reef exposed at the 007 Zone.
The Company has uploaded a map of the 007 Zone prepared by the operator on its website along with the Pardo Property Geology map, which shows the discovery areas (the 007 Zone, the Eastern Reef, and Trench 2) relative to the rest of the Pardo property, and a Discovery Areas map, which outlines the boundaries of the discovery area along with recent and historic drilling in the area.
At the Eastern Reef, where initial samples yielded grades ranging from 1.1 gpt to 40 gpt gold (see press release dated August 15, 2013), more than 100 metres of additional channel samples have been cut and delivered to the lab, and additional channel cutting is ongoing. Eastern Reef results will be released when they become available.
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 awaiting financial and technical reports 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.
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