News Release 06-19
Endurance Gold Corporation (EDG - TSX.V) is pleased to update developments on the Pardo Property, located 65 kilometres northeast of Sudbury, in east-central Ontario. Endurance is earning a 100% interest in the property by making cash payments of $100,000 and issuing 200,000 shares over a four year period.
The Pardo Property covers a basal conglomerate sedimentary horizon of Proterozoic age that rests unconformably on Archean basement rocks. Work by previous companies during the period 1996-2000 identified widespread low-grade gold mineralization within the basal conglomerate, located immediately at or adjacent to the unconformity. That work returned individual grabs to 9.9 gpt Au, and channel samples to 0.966 gpt Au over 12 metres. Gold mineralization is associated with pyritized portions of the basal conglomerate. Subsequent Induced Polarization ("IP") surveys defined numerous anomalies over the limited extent of the survey (two kilometer north-south strike length), over which limited trenching confirmed a gold-pyrite association in the conglomerate, with a one metre channel sample to 7.03 gpt Au.
The company recently completed a stripping and channel sampling program over three strong IP chargeability anomalies that had been previously identified on the property. Results are as follows:
- Trench 1 was an expansion of previous trenching where a one metre interval returned 7.03 gpt Au. While several ppb level anomalies were returned from an area measuring 40 metres by 10 metres, no grades in excess of 0.5 gpt were returned.
- Trench 2 was opened over a strong chargeability located 100 metres southwest of Trench 1. Two separate areas, each measuring approximately 32 metres by 10 metres, were exposed and channel sampled. The southern exposure was only weakly mineralized, and returned several ppb level anomalies, with a single one metre interval carrying 6.53 gpt Au. At the northern exposure, the basal conglomerate contained disseminated blebs and pods of pyrite and lesser pyrrhotite to 2% - 5% in places, and a continuous thirteen metre section of the 32 metre long exposure returned a weighted average gold grade of 3.52 gpt Au, including a one metre channel sample carrying 15.3 gpt Au. A composite gold grade of 42 one metre channel samples collected over the exposure was 1.52 gpt Au. The results from Trench 2 are the best gold grades and widths returned to date from the property, and confirm that the flat lying basal conglomerate can host ore grade gold mineralization over mineable widths. The IP anomaly associated with Trench 2 is approximately 100 metres in width, and extends for a strike length of 300 metres. Several parallel anomalies also remain untested.
- Trench 3 was opened over a modest IP anomaly located 600 metres southeast of Trench 2. While minor sulphide mineralization was noted in the conglomerate, no significant gold grades were returned.
As part of the Pardo program, a single diamond drill hole was attempted at a location approximately 3.5 kilometres south of Trench 2. At this location, a 1956 drilling program by Pickle Crow Gold Mines indicated the basal conglomerate horizon was in excess of 125 metres thick. Pickle Crow, at the time, was looking for uranium, and the gold potential of the conglomerate horizon was not fully assessed. Endurance attempted to "twin" a known Pickle Crow vertical hole, but encountered extremely difficult overburden conditions that resulted in the abandoning of the drill hole. The company will attempt to complete the hole with a larger diamond drill at a future date, as part of an on-going exploration program on the property.
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
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT EITHER
Duncan McIvor (604) 682-2707, or Jeffrey Wilson, Corporate Communications (604) 868-0225, or visit our website at www.endurancegold.com.
The TSX Venture Exchange or any other regulatory authority has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this news release.