Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to announce the receipt of analytical results for the Bandito Ni-Cu-REE Project located in the southeastern Yukon, 55 kilometers northeast of the road head at Smith River Falls, British Columbia. Results to date have confirmed elevated nickel, copper and bismuth mineralization with soil anomalies associated with a 700 by 400 meter area of a hematite and iron oxide (FeOx) enriched diatreme breccia and altered sediments (Gossan Target). Best confirmed grab samples at the Gossan Target are 11.0% nickel, 2.07% copper, 27.1% bismuth and one sample which assays 1.88% lead. In addition, a new zone of bismuth-nickel mineralization in altered albite-aegirine-FeOx metasomatized rocks with 1.145 % bismuth has been identified at Pyrochlore Dome, about one kilometer from the nickel zone at the Gossan Target
At the Gossan Target, the nickel-copper-bismuth bearing breccia is currently interpreted to be a later stage diatreme breccia event within a much larger two-square kilometer area of FeOx-enriched sodium and potassium metasomatized alteration (Fenites) adjacent to a Proterozoic-aged sericite-altered nepheline syenite. The diatreme breccia event is currently interpreted to postdate both the Fenites and Proterozoic-aged siltstones which have been baked, recrystallized and altered with sericite and hematite (Hornfels) by the nepheline syenite. The two-square kilometer Fenite alteration area has elevated rare earth elements (REE) as reported on November 22, 2010.
Recent petrographic work indicates that the FeOx-enriched clast-supported diatreme breccia consist of hornfelsed clastic metasediments and fenites at the Gossan Target. The breccia has been observed to have a wide variety of textures. All observed breccia is clast supported. Some breccia has rounded fenite and altered siltstone clasts in a matrix of lamellar specular hematite and albite. Other breccia is angular with both displaced clasts and intensely to weakly "crackle" fractured Hornfels and Fenites which are healed by FeOx, cryptocrystalline to crystalline quartz, albite, sericite and k-feldspar. The sampled breccia which hosts the nickel-copper-bismuth-lead mineralization in grab samples encompasses a 350 by 150 meter area within the larger 700 by 400 meter area of a hematite and FeOx enriched diatreme breccia.
The Gossan Target has poor outcrop and thus mineralization is not confirmed in bedrock. The majority of the Gossan Target is covered by vegetation and cover. The grab samples with high values for nickel and copper are observed in hand specimen to have secondary nickel and copper mineralization on the breccia clasts and breccia matrix. The secondary minerals are interpreted in hand specimen to be annabergite (a hydrous nickel mineral), malachite, and azurite. Various forms of FeOx including lamellar specular hematite are observed in both mineralized and un-mineralized breccia. Secondary manganese oxide coatings are common throughout the Gossan Target area.
In thin section, annabergite and minor native copper has been identified associated with higher nickel and copper values in the late stage silicification and FeOx event. Trace element associations with the high reported base metals include arsenic and antimony with fluorite observed in several of the above samples. All samples reported less than 0.01% sulphur with exception of the single highest sulphur at 0.55% in sample G7, an interpreted quartz vein. In this specific sample, which assayed 27.1% bismuth and 2.92% nickel, an unidentified translucent bismuth mineral (possibly a bismuth oxide and/or carbonate) has been confirmed by SEM microprobe associated with minerals currently identified as niccolite (nickel arsenide), ullmanite (nickel antimony sulphide), or kallilite (nickel bismuth antimony sulphide). Further mineralogical and petrographic studies are required to better define the mineralogy for both the REE enriched mineralization at Bandito and the nickel-copper-bismuth mineralization.
The following table summarizes the analytical results from grab samples collected in 2004, 2005 and 2006 that have returned percentage values in nickel, copper or bismuth. All samples are plotted on a location map available on the company website.
|Grab Sample No.||Hand Sample and/or Petrographic Description||Nickel||Copper||Bismuth|
|478705||Cu stained silicified altered fenite (2)||1310 ppm||1.22 %||1.71 ppm|
|478706 (1)(4)||silicified FeOx kspar albite sericite fenite||405 ppm||1560 ppm||12 ppm|
|478707 (1)(4)||brecciated FeOx kspar albite sericite fenite||720 ppm||3700 ppm||2 ppm|
|478709||breccia -- FeOx Ni hornfels siltstone (3)||7.57 %||2870 ppm||64 ppm|
|478710||breccia -- FeOx silicified hornfels siltstone||4.19 %||86 ppm||60 ppm|
|478711 (1)||breccia -- FeOx Ni hornfels mudstone (3)||5.94 %||218 ppm||19 ppm|
|478712 (1)||breccia- FeOx Ni silicified kspar fenite (3)||11.00 %||71 ppm||2140 ppm|
|478713 (1)||breccia - FeOx Ni silicified hornfels siltstone||4.42 %||139 ppm||545 ppm|
|478714 (1)||breccia - FeOx Ni silicified hornfels siltstone||5.87 %||36 ppm||1790 ppm|
|G1||breccia -- FeOx silicified hornfels siltstone||7.23 %||832 ppm||853 ppm|
|G5||breccia- FeOx Cu silicified hornfels siltstone||320 ppm||2.07 %||470 ppm|
|G6||breccia -- FeOx silicified hornfels siltstone||3.80 %||356 ppm||175 ppm|
|G7 (1)||qtz- native bismuth-niccolite vein (?)||2.92 %||261 ppm||27.1 %|
|G8||breccia - FeOx Ni silicified hornfels siltstone||2.65 %||0.200 %||7 ppm|
|G9||breccia - FeOx silicified hornfels siltstone||5.79 %||0.225 %||30 ppm|
|G10||breccia - FeOx silicified hornfels siltstone||6.78 %||0.205 %||81 ppm|
|G11||breccia - FeOx Ni silicified hornfels siltstone||8.65 %||0.243 %||84 ppm|
|M011957||no description available||9.14 %||2270 ppm||62 ppm|
|M011958||no description available (1.88% Pb)||36 ppm||20 ppm||13 ppm|
|R4 (1)||Sericite-albite altered FeOx fenite||1480 ppm||42 ppm||1.145 %|
- These samples had petrographic polished thin sections completed
- Cu means that secondary malachite was observed in hand specimen
- Ni means that secondary nickel bloom was observed in hand specimen
- 478706 and 478707 also analyze 0.565 % and 0.432 % TREO +Y with high Zr (see press release dated November 22, 2010)
Grab samples are selective by nature and are unlikely to represent average grades on the property or the Gossan Target.
A separate discovery of elevated bismuth and nickel (1.145% bismuth, 1480 ppm nickel) is located on Pyrochlore Dome, 1,000 meters to the northwest of the high-grade nickel discovery at the Gossan Target. This grab sample is described in hand specimen and thin section as sericite and hematite altered albite-fenite and is located within an area of extensive metasomatized host rocks.
Outside of the Gossan and Pyrochlore Dome Targets, breccia of various descriptions has been mapped and described on the Bandito Property. No mineralization has yet been identified with this breccia. Considering the current association of mineralization with breccia, further sampling and geological studies are warranted to discover new targets for mineralization.
The 2004 through 2006 rock sampling programs were conducted by True North Gems Inc. (True North). The 2006 samples collected by True North were never analyzed until submitted for analysis in October 2010. Some of the reference samples from 2005 were also sent for re-analysis by Endurance, and the re-analyzed results reported above. The above rock samples were prioritized and submitted to ALS Minerals Lab for processing. The earlier 2004 & 2005 samples were pulverized, split and analyzed using ME-ICP 41 (38 element fusion ICP-MS) and Au-ICP21. The 2006 samples and re-analysis of some of the 2005 reference samples were pulverized, split and analyzed using ME-ICP 41 (38 element fusion ICP-MS) and ME-MS81 (35 element AquaRegia ICP-AES) for the complete suite of trace element base metals and REE. Samples in excess of 10,000 pm nickel, copper, or bismuth were assayed by OG46 or OG62 for the higher grade samples.
Further compilation of technical data, petrographic and mineralogical studies are currently in progress. An exploration program is planned for 2011 to evaluate this large area of alteration and breccia to identify REE and base metal trenching and drill targets.
The Bandito Property is governed by an Option Agreement between Endurance and True North. Under the terms of the agreement, Endurance can earn an initial 51% joint venture interest in the Bandito property by completing a total of C$125,000 in cash payments by December 31, 2012 and also completing C$1,000,000 in exploration expenditures by December 31, 2013. Once Endurance earns its 51% interest, it has a further option to acquire an additional 24% interest (total 75%) by issuing True North 200,000 shares of Endurance and by completing an additional C$1,000,000 in exploration expenditures prior to December 31, 2015.
Robert T. Boyd, P.Geo. President CEO and Director is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the information forming the basis for this 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.