Endurance Gold Corporation (EDG - TSX.V) announces that Ginguro Exploration Inc. ("Ginguro") reports results from metallurgical testwork and has provided an update on drilling at the Pardo Gold Property, 65 kilometers northeast of Sudbury, Ontario. Endurance owns a 100% interest in the Pardo Property. Ginguro has an Option Agreement with Endurance whereby Ginguro can earn a majority interest in the Pardo Property ("Pardo Option")
Final results have now been received from metallurgical testing of Pardo gold mineralization conducted at SGS laboratories in Lakefield, Ontario. Ginguro delivered five separate 500 pound samples to SGS Lakefield, representing gold mineralization typically encountered in the host conglomerates at the Pardo Option property.
Ginguro reports that direct head grades of the five samples averaged 2.0 g/T gold. After processing the samples with gravity separation and Carbon in Leach ("CIL") tests, a more statistically valid gold content was determined. Individual sample results are as follows:
|Sample Location||Direct Head Grade||Calculated Gold Content|
|Trench 2 Pit A||3.4 g/T Au||3.5 g/T Au|
|Trench 2 Pit B||5.2 g/T Au||4.6 g/T Au|
|Northern Showing Pit||0.6 g/T Au||0.6 g/T Au|
|Tea Lake Pit||0.2 g/T Au||0.4 g/T Au|
|Line 34 Pit||0.3 g/T Au||0.6 g/T Au|
|Average||2.0 g/T Au||2.0 g/T Au|
As noted from the table above, the average direct head grade, as well as calculated gold content, of the 5 samples was 2.0 g/T. The overall gold recovery using standard Gravity Separation and CIL testing ranged from 90.1% to 99.1% across all five samples, with the majority of test samples taken from the basal reefs achieving overall gold recoveries exceeding 98%. The Bond Ball Mill Work Index ("BWI") for samples tested indicates a moderate work index for the reef material.
Ginguro's first hole drill of the current program, PD-10-01, was designed as a 2km step out to test for continuity of gold reefs to the south of work completed in 2009. The hole is located just south of the Pardo Option and Ginguro reports that it successfully confirmed the geological model developed as a result of the recent mapping program reported earlier. PD-10-01 intersected an intermediate reef at 152.24 metres down the hole, which assayed 1.6 g/T Au over 0.41 m. In addition, the main basal reef was intersected at a depth of 349.81m and assayed 2.3 g/T Au over 1.0 m.
Ginguro also reports that a total of 80 holes are planned for the current phase of drilling. Most holes in the current phase are short, being less than 40 m in depth. In addition to hole PD-10-01, the Ginguro has completed a further 11 holes on the Pardo Option, which are currently being logged and sampled. An approximate location map for some of the proposed drill holes can be accessed on the company website. The next phase of drilling will include infill drilling designed to establish continuity and grade of the gold mineralization. Further results will be reported as they become available.
The Pardo Gold Property is comprised of 16 claims covering approximately 33 square kilometres, and is 100% owned by Endurance. Ginguro has an Option Agreement with Endurance whereby Ginguro can earn an initial 55% interest in the Pardo Gold Property by completing $1,000,000 in exploration expenditures, and making cash payments totalling $200,000 to Endurance over a three year period. To date, Ginguro have made cash payments to Endurance of $100,000. On completion of its initial 55% earn-in, Ginguro has a one-time option to increase its ownership interest to 70% by completing an additional $1,000,000 in exploration, and making a further cash payment of $250,000 to Endurance.
Endurance Gold Corporation has entirely relied on Ginguro for the technical content of 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.