Endurance Gold Corporation (EDG -- TSX.V) announces that the results from an extensive program of additional cyanide leach and screen fire metallic gold analyses on samples collected during the summer 2007 diamond drilling program on the property provide results which encourage continued exploration for a large-tonnage low-grade gold system associated with basal Proterozoic quartz-pebble conglomerates.
As reported earlier (See EDG News Release 07-19), a total of 407 samples were split and analyzed for gold by Fire Assay ("FA"). Of these, 326 samples were of pyritic basal quartz pebble conglomerate, the target horizon of the diamond drilling program. The average composite gold grade of the 326 samples, which totaled 313.86 metres, was 405 parts per billion (ppb), or 0.405 grams per tonne (gpt).
To determine the amenability of the mineralization to leaching and to evaluate the "nugget effect" of this newly discovered gold prospect, 317 of the above 326 samples were also subjected to Total Cyanide Leach ("TCL"). TCL samples were crushed and pulverized to -150 mesh and leached for 24 hours. The TCL technique does not typically report full recovery of the gold since it is a measure of the amenability of the mineralization to simple free-milling metallurgical processes. An average grade of 0.392 gpt was reported for the 317 samples, or approximately 95.8% of grades reported by the standard FA technique. These results provide a preliminary indication that the gold can be readily liberated from mineralized conglomerates through simple crushing, grinding, and cyanide leaching. Furthermore, the relative differences between the two analytical techniques are within an acceptable range of variance, thus the cost effective Standard FA analytical technique can be used with confidence as the company moves forward.
The Company also submitted 40 selected samples which initially returned in excess of 250 ppb gold, using the FA procedure, for Screen Fire Metallics ("SFM") analyses. The SFM method analyzes various size fractions of crushed and pulverized sample material, to determine if relatively coarse free gold is present. The results of the SFM analyses averaged 1.267 gpt gold, versus 1.141 gpt by the FA technique, and 1.167 gpt by the TCL technique. The increase of approximately 11.0% in SFM results from the FA results suggest the presence of free gold within the conglomerate horizon. A program of petrographic thin and polished section work is underway to assist in understanding the nature of gold mineralization in the conglomerate.
Duncan McIvor, President and CEO of Endurance, stated "These results are positive for the Company, indicating that we have identified a significant new style of near surface gold mineralization in Canada within a mineralogical environment that has potentially favourable metallurgical characteristics if a deposit of sufficient gold grade and size can be discovered. Both the SFM and to a lesser extent the TCL results indicate there is a nugget effect, or the very encouraging presence of coarse free gold, within the conglomerates. Equally important is that the Total Cyanide results suggest the gold is readily liberated from the pyrite mineralization within the conglomerates, and is not lattice bound and/or refractory in any way. These results, the proximity to surface of the mineralization, and the area covered by surface gold samples exceeding 0.5 gpt, all point to the potential for the discovery of a large open pit gold deposit. We look forward to commencing an aggressive 2008 drill program."
As additional explanation, the following data has been posted on the Endurance Gold website (www.endurancegold.com), as "Drill Analytical Data", under the Pardo Property file.
- A complete description of the three analytical techniques.
- A Master Sample Spreadsheet, containing hole numbers, from to intervals, widths, and analytical results by 30 Gram Fire Assay, Total Cyanide Leach, and Screen Fire Metallics Assay, for all samples collected during the 2007 drilling program.
- A Summary Table of Fire Assay and Total Cyanide Leach Analytical Results, for all 56 diamond drill holes completed during the 2007 drilling program. This table compares weighted average gold grades within the drilled conglomerate horizons using Fire Assay and Total Cyanide Leach methods.
- A Summary Table of Fire Assay and Screen Fire Metallic Analytical Results.
- A file containing all 56 diamond drill hole logs, with all analytical results and appropriate sample descriptions contained within the logs.
On-going work on the property includes additional Induced Polarization geophysical surveys, and processing and interpretation of last year's soil geochemical results and airborne altimeter surveys. Planning and preparation for a major 2008 summer diamond drilling program is underway.
Duncan McIvor, P. Geo., is the Qualified Person under National Instrument 43-101, and is responsible for the content of this news release.
ENDURANCE GOLD CORPORATION
Duncan McIvor
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT EITHER
Endurance Gold Corporation
Duncan McIvor; (604) 682-2707, dmivor@endurancegold.com
Jeffrey Wilson, Corporate Communications; (604) 868-0225, jwilson@endurancegold.com
www.endurancegold.com
Renmark Financial Communications Inc.
Christopher Wells: cwells@renmarkfinancial.com
Melanie Lecavalier: mlecavalier@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
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