Enduro Commences 10,000 Metre Drill Program at Newmont Lake Project, Golden Triangle, NW British Columbia
Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) (“Enduro Metals” or the “Company“) announces that the first diamond drill rig is now drilling on the Newmont Lake property in the heart of BC’s prolific Golden Triangle. A second drill rig will be added in early August. The planned “base case” drill program is 10,000 metres, with potential to expand. Enduro recently upgraded its on-site infrastructure to enable a prolonged exploration season.
The Company is presently conducting its initial drilling at Chachi with several other targets to be drilled this season.
Enduro’s CEO Cole Evans stated: “There are several high-quality untested targets across our large land package providing multiple paths to a major discovery. We are delighted to be back on the ground and drilling again and excited to build on what we have learned over the past three years. We are optimistic that we will see exciting results from this season’s drilling.”
CHACHI CORRIDOR
The Chachi Corridor represents a multi-element system endowed in copper, silver, gold, lead, zinc, nickel, and cobalt which was discovered by Enduro in 2019. This extensive system, spanning more than 5 kilometers, has characteristics of multiple deposit types, including alkalic porphyry, epithermal, skarn and possibly Iron-Oxide Copper Gold (“IOCG”) ore deposits. Intrusions are of the same age as the nearby Galore Creek deposit, which is being advanced by a joint venture between Newmont Corporation and Teck Resources Limited.
This initial drilling will involve 6 holes from 3 separate drill pads, with targets selected based on:
- High-grade copper-silver on surface (including rock samples with 5.3% copper/36 g/t silver and 2.7% copper/301 g/t silver);
- Induced polarization (“IP”) geophysic chargeability responses;
- Proximity to a regional structural feature; and
- Widespread alteration.
The holes are intended to track the high-grade values from surface and will provide the first sub-surface information in the Chachi Central Zone (CCZ).
Cole’s Notes Episode 2: ‘Enduro’s Drill Program Commences’ – Enduro’s 2021 Video Series: https://youtu.be/DtgpiupNxXk
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BURGUNDY/72 ZONE
An important focus this year will be drilling the Burgundy/72 region, 13km west of the Chachi Corridor. A first-pass drill program in 2019 intersected mineralization in several shallow holes including 91m of 0.38% Cu and 0.30 g/t Au starting at 36m downhole. Late in the 2019 season, a trench 400 metres south cut 1.3% Cu, 1.5 g/t Au, 23 g/t Ag, and 3% Zn over 37m with the mineralized zone remaining open.
Another mineralized zone 2.3km to the northeast is now being further investigated using advanced hyperspectral techniques to vector within the extensive zone of alteration and mineralization. This area is being explored as an alkalic porphyry target. Previous drill results include 22m of 0.89% Cu, 0.71 g/t Au, 0.26 g/t Pd, and 6.6 g/t Ag within a broader mineralized interval.
Work over the winter by the Charles Fipke Centre for Innovative Research at University of British Columbia (Okanagan) dated intrusive rocks in this area as coeval to the Galore Creek.
Surface work presently underway will fine-tune target locations for drilling this season, with the objective of confirming the presence of a large-scale copper-gold alkalic porphyry system.
CUBA ZONE
The Cuba zone is characterized by a 4km long trend of silver-lead-zinc-copper mineralization, characterized as both carbonate replacement and epithermal-type systems. The Havana target, identified by Enduro last year, is located at the northern end of the previously outlined trend. A sample from one of the quartz-barite veins in the Havana Zone assayed 1,277 g/t silver, 4.51% copper, 1.11% zinc, and 0.21% lead. An IP geophysical survey line over the target identified an anomaly coincident with the surface geochemical anomaly.
The initial two drill holes will test the area of coincident geochem and the IP chargeability high.
McLYMONT FAULT
The McLymont Fault was the focus of much of the previous historic and Enduro’s latest work in this area, including outlining a gold-copper resource at the NW Zone. Work by Enduro has outlined gold mineralization along 20 km of the fault zone in the McLymont Fault area. Enduro’s drilling has extended the historic NW Zone along strike and to depth and has identified parallel mineralized features. Enduro’s drill results outside of the previously identified mineralized area includes drill hole NW20-09 in the Northeast Extension which intersected 31 g/t Au and 1.07% Cu over 8.8 metres.
Further drilling this year will continue to expand on the known extent of the main mineralized zones and aim to test a potential underlying porphyry system.
Specifically, 2021 drilling will:
- Test the deeper extent of porphyry style mineralization encountered in 2020 drilling.
- Expand on initial Troy Vein discovery (32.5 g/t Au and 1.07% Cu over 8.9 m).
- Test satellite high-grade gold trends along the greater McLymont Fault Corridor.
Camp, Infrastructure and Access Upgrades
The airstrip has just been extended to allow access for larger aircraft. The camp is being upgraded to allow for exploration work to continue later in the winter season. Surveying work is underway to establish an improved winter road into the Newmont Lake Camp, which will allow bulk supplies to be brought in on surface.
Diamond Drilling
Drilling services for the 2021 drill program are being provided by HELM Diamond Drilling Ltd. (“HELM”), 100% indigenous owned and operated by Alan McPherson, a Tahltan Nation member and Devlin Luck, a Mi’kmaq Nation member. McPherson and his team carried out Enduro’s last two seasons of drilling and have over 35 years collective experience drilling other projects in the district.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully consolidated the area since 2005. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
- Published in Enduro Metals Corp., Mining, News Home
Enduro Mobilizes for Fully Funded 10,000 Metres Drilling Campaign at Newmont Lake
Enduro Metals Corporation (TSXV: ENDR)(OTCQB: ENDMF)(FSE: SOG) (“Enduro Metals” or the “Company“) is pleased to announce the Company has mobilized field crews for a fully-funded 10,000 metre diamond drilling program this summer within the Company’s 654 square kilometre Newmont Lake Project situated in the heart of BC’s prolific Golden Triangle.
The exploration program will also include a deep penetrating ORION SWATH and a Titan magnetotelluric (“MT”) ground-based geophysical surveys by Quantec Geoscience. Combining deep penetrating IP (“Induced Polarization”) and MT technologies has never been conducted on the Newmont Lake Project. This approach is aimed at delineating the scalability of several target areas on the property as these two geophysics systems combined provide a detailed image of geophysical responses at depth.
Several infrastructural improvements have also began including upgrades to the Company’s airstrip to allow for larger aircraft, several structural improvements have also begun for an anticipated extended drilling campaign, wildlife, and environmental baseline studies to extend the permittable drilling timeframe, and surveying work to establish an improved winter road into the Newmont Lake Camp.
The fully-funded drill program is designed to test the highest priority targets resulting from 2.5 years of extensive grassroots exploration and research. Included in the campaign will be the first-ever drilling of the Chachi Central Zone (“CCZ”), Havana, and Burgundy’s Green Rock Breccia; all of which are targets identified by the Company as being prospective for large-scale, multi-element grassroots discoveries.
Site mobilization has already commenced which includes our professional geological team. Our CEO, Cole Evans & COO, Dylan Hunko are currently onsite ground truthing drill targets and supervising preparations. The drilling team is expected to arrive by the end of this week. The first drill targets are located in the Chachi Corridor.
Enduro’s President & CEO Cole Evans states, “The 2021 exploration season is an amalgamation of everything our technical team has learned over the past 2.5 years of systematic exploration across our large land package. We are focused on testing targets we believe have the highest potential of being a top-tier exploration discovery in one of the hottest mining/exploration jurisdictions in the world. The road to this point has not been quick or easy, but it has positioned Enduro to have an exceptional exploration season purpose built to put the scale, optionality, and mineral endowment of the Newmont Lake Project on the radar of the world’s biggest mining companies.”
Episode 1: Drilling Equipment Mobilization
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Cole’s Notes Episode 1: ‘Drilling Equipment Mobilization – Gearing up for Newmont Lake’s Biggest Exploration Season’ – Enduro’s 2021 Video Series: https://youtu.be/UjuEpsPugkc
A Message from MSALAB’s about their New Preparation Facility
Turnaround time is critical for exploration companies to deliver efficient programs. The faster data comes back the quicker the understanding of the next piece of the orebody puzzle. 2020 created additional unknowns with the advent of COVID and the resultant operating and sourcing constraints for labs and exploration companies globally.
MSALABS has responded with ‘More‘
- More crushing capacity in Terrace, BC
- More space at the Preparation Laboratory in Terrace, BC
- More pulverizing capacity in Langley, BC, including a third Automated Batch Mill
- More Fusion Furnace capacity
- More Mass Spectrometry capacity
- More shifts – fewer people in the lab at one time – less COVID exposure
- Lifted COVID-19 restrictions in British Columbia as of July 1st, 2021
MSALABS has added a lot ‘More‘ to produce safely and efficiently. So, our clients get ‘Less’ time between the samples arriving at our labs and the data being returned; so, the Geologists can piece together the puzzle faster.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 654km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 4 million Common Shares to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 218km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: info@endurometals.com
As a continued effort to keep investors, interested parties and stakeholders updated, we have launched new communication initiatives. If you have any questions online (Twitter, Facebook, LinkedIn, or Instagram) feel free to send direct messages or a post and include the hashtag #askENDR.
To book a one-on-one 30-minute Zoom video call directly click here: https://endurometals.youcanbook.me
- Published in Enduro Metals Corp.
Enduro Discovers Palladium in Burgundy/72′ Drill Core – Engages Dr. Alan Wilson as a Technical Consultant
Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG.FF) (“Enduro Metals” or the “Company“) is pleased to report initial results from a Platinum Group Element (“PGE”) analysis. The first batch of results has identified the presence of significant palladium in drill core selected from the Burgundy/72′ system. This area is 1 of 4 major systems within the Company’s 654 square kilometre Newmont Lake Project situated in the heart of BC’s prolific Golden Triangle.
Additionally, the Company is pleased to advise it has engaged Dr. Alan Wilson, one of the world’s foremost experts on alkalic copper-gold porphyry deposits through GeoAqua Consultants Ltd., to provide technical expertise to the Newmont Lake Project.
Highlights:
- Diamond Drill Hole ST19-06 intersected 22.28m of 0.89% copper, 0.71 g/t gold, 0.26 g/t palladium, and 6.65 g/t silver starting at 228m downhole (see News Release dated October 9th, 2019). Individual samples are as high as 1.29 g/t palladium over 1.9m.
- A limited number of samples were taken over a 22.28m interval and an expanded PGE analysis of drill core is now underway.
- The blind drill target was uncovered using advanced hyperspectral technology and analysis.
- Dr. Alan Wilson is widely considered to be among the world’s foremost experts in alkalic porphyry deposits and will be at Newmont Lake for a portion of the 2021 exploration program.
- Palladium is the most valuable of the four major precious metals worldwide (currently $2,835 USD per ounce). It is a distinct characteristic of mines/deposits in British Columbia including Galore Creek, Mt. Milligan, Mt. Polley, New Afton/Afton, and Ajax.
About Dr. Alan Wilson:
Dr. Alan Wilson is an economic geologist with three decades of experience in the exploration of base and precious metal deposits globally, as well as extensive commercial and strategic experience in deal structures for mineral projects globally. Dr. Wilson has worked for several of the world’s largest mining companies over his career including International Exploration Manager of Grupo Antofagasta Minerals, Copper Commodity Leader for Anglo American, District Geologist for Newcrest Mining, Senior Geologist for Billiton, and Senior Geologist for Rio Tinto.
Dr. Wilson obtained his PhD in Economic Geology at the University of Tasmania, Australia in 2003, completing the first detailed geological and genetic study of the then-recently discovered Cadia alkalic gold-copper porphyry deposits in Australia. His widely published work at Cadia, and subsequent exploration and technical evaluations of alkalic porphyry systems worldwide has established Alan as a recognised technical and exploration expert in alkalic porphyry deposits. Alan is a Fellow of the Society of Economic Geologists and a Fellow of the Geological Society of London, through which he holds Chartered Geologist accreditation.
Figure 1: Merged Total Magnetic Intensity (“TMI”) data across the Newmont Lake Property shows multiple areas of interest for alkalic porphyry mineralization confirmed by boots-on-ground exploration and drilling. Large magnetic anomalies are indicative of plutons potentially capable of forming large alkalic copper-gold porphyry deposits.
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Cole Evans, CEO of Enduro Metals commented, “We are excited to have Dr. Wilson at Newmont Lake this season to work with our technical team on refining drill targets at a number of our prospects. His expertise in alkalic copper-gold porphyry deposits will be invaluable as we look to expand on our results to date in multiple areas of copper-gold interest.
Due to their size, grade, and rarity, alkalic porphyry deposits are arguably amongst the most sought after and difficult to find deposit types in the world. Traditionally, efforts to identify and delineate PGE’s in alkalic systems is not widely implemented, but research by the geological community is advancing our understanding on how these deposits may also represent a substantial secondary inventory of PGE resources worldwide, and it is important we integrate this knowledge into our exploration efforts moving forward.
From our very limited PGE sampling to date, I am encouraged that Pd/Au and Pd/Pt ratios are comparable to other silica-undersaturated deposits in the Canadian Cordillera, including our neighbour Galore Creek. The geochronological work completed by UBC Okanagan earlier this year (see News Release dated January 18th, 2021) suggests the Burgundy/72′ system to be coeval to Galore Creek and our boots-on-the-ground exploration work suggests the system is also comparable in geometry, rock composition, alteration, and mineralization.
It should be noted PGE concentrations are not always correlated with high concentrations of copper and gold, suggesting we could see areas of higher PGE concentrations with more exploration and analysis.”
A combination of current market conditions, and scientific advancements by the geological community (latest Hanley et., al. 2020) aimed to further the understanding and development of PGE’s in several alkalic porphyry deposits globally has made palladium a precious metal of secondary interest in alkalic copper-gold porphyry deposits.
In response, a small-scale analysis was undertaken to determine whether hypogene mineralization intersected at Burgundy/72′ contained notable PGE content, as represented by the analytical results. Given the positive results of the small-scale test, further PGE analysis is underway on 2019 drill core from the Company’s “first-pass” drill program at Burgundy/72′ to determine the extent of palladium mineralization.
Hole ID: | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pd (g/t) | Pt (g/t) |
ST19-06 | 228 | 250.28 | 22.28 | 0.71 | 6.65 | 0.89 | 0.26 | 0.03 |
including | 234 | 239.30 | 5.30 | 0.80 | 7.76 | 1.09 | 0.82 | 0.10 |
Table 1: Initial assay results from limited PGE analysis of drill core at the 72′ zone at Burgundy.
Figure 2: World map showing Cu-Au porphyry deposits known to be PGE enriched or have distinct PGE mineral phases, and the Newmont Lake Project’s location (modified from Hanley et al., 2020; Economou-Eliopoulos, 2005).
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Figure 3: Precious metal ratios for selected PGE-enriched porphyry deposits categorized as Canadian or Global with preliminary Pd/Au – Pd/Pt ratios from limited sampling/drilling completed to date in the Burgundy/72′ system (modified after Hanley et. al., 2020). Burgundy/72′ is thought to be a silica-undersaturated alkalic system with similarities to Galore Creek and Mt. Polley. Note the generally high Pd/Pt ratio of deposits in British Columbia relative to other global deposits.
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Figure 4: Stockwork and disseminated chalcopyrite-bornite associated with secondary K-feldspar, hematite, and “shreddy” biotite typical of a potassic alteration assemblage.
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Cited Work
Economou-Eliopoulos, M. (2005). Platinum-group element potential of porphyry deposits. In J. Mungall (Ed.), Exploration for platinum-group elements deposits (pp. 203-246). Mineralogical Association of Canada Short Course Series 35. Quebec City, QC: Mineralogical Association of Canada.
Hanley, J., Kerr, M., LeFort, D., Warren, M., MacKenzie, M., & Sedge, C. (2020). Enrichment of platinum-group elements (PGE) in alkalic porphyry Cu-Au deposits in the Canadian Cordillera: New insights from mineralogical and fluid inclusion studies. Porphyry Deposits of the Northwestern Cordillera of North America: A 25-Year Update, Special Volume 57 p 88-109, Montreal, QC: Canadian Institute of Mining, Metallurgy, & Petroleum.
QAQC / Analytical Procedures
Core samples from the Newmont Lake Project were sent to MSALABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSALABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-221 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 48 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and copper, lead, and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Enduro Metals conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 652km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 4 million Common Shares to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 218km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
- Published in Enduro Metals Corp.
Enduro Intersects Gold in All Drill Holes; Sees First Porphyry Mineralization in Drill Core at McLymont – Introduces New Geological Model
Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) (“Enduro Metals” or the “Company“) is pleased to report assay results from 4,516m drilled in 17 diamond drill holes completed along the McLymont Fault during the 2020 exploration program at Newmont Lake. The McLymont Fault is 1 of 4 major systems within the Company’s 638 square kilometre Newmont Lake Project situated in the heart of BC’s prolific Golden Triangle.
Highlights:
- All 17 drill holes completed along a 4.5km-long continuum intersected gold mineralization of varying styles and significance, including 2 types of skarns, intrusion related veins, and hypogene porphyry mineralization.
- NW20-13, the final drill hole of the 2020 exploration program intersected intrusion-hosted hypogene porphyry mineralization along the McLymont Fault for the first time. This information is critical to the Company’s theory of an undiscovered porphyry camp at Newmont Lake (see Figures 5 & 6).
- NW20-10 intersected a 25m wide vein swarm approximately 55m west of the 24m wide vein swarm discovery in NW20-09 (see October 21st, 2020), now referred to as the Troy Veins. Individual samples in the new vein intersections are as high as 20.30 g/t gold, 11.21 g/t silver, and 1.84% copper over 0.65m at 180.66m downhole.
- Metallic screen analysis targeting selective gold mineralization saw up to 70% increases in individual gold assays, including NW20-03 previously reported as 20.75 g/t Au over 1.00m is now 34.50 g/t Au over 1.00m at 55m downhole.
- The Company is fully funded for a follow-up drill program in 2021 set to begin in June/July. More information on the 2021 exploration program and further interpretations will be available shortly.
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Figure 1: Simplified geological model of the McLymont area. Note the image is not to scale. NW Zone, NE Extension, Troy, Lower Gold Zone, and Feeder have all been intersected in drilling. The porphyry target, lower skarn target, and Goldfish have not been drill-tested.
Highlight drill results from 2020 exploration program include:
- 28.34m of 10.48 g/t Au, 2.31 g/t Ag, and 0.36% Cu @ 144.12m in Troy Veins.
- Including 8.85m of 32.52 g/t Au, 6.54 g/t Ag, and 1.07% Cu @ 160m.
- 4.85m of 10.35 g/t Au, 15.93 g/t Ag, and 0.73% Cu @ 68m in NW Skarn.
- 103.30m of 0.90 g/t AuEq @ 15.54m in NW Skarn and Lower Gold Zone.
- Including 1.00m of 35.12 g/t AuEq.
- 138.62m of 0.82 g/t AuEq @ 115.60m in NE Ext. Skarn and Lower Gold Zone.
- Including 33.57m of 2.47 g/t AuEq @119.83m in NE Ext. Skarn.
- 22.23m of 2.20 g/t AuEq @ 18.83m in Ken Zone Skarn.
- Including 10.84m of 4.06 g/t AuEq @ 21.64m.
- 156.12m of 1.89 g/t AuEq @ 6.86m from fully sampled R-07-09 in NW Skarn and Lower Gold Zone
- Including 86.29m of 3.27 g/t AuEq @ 6.86m.
- 144.00m of 3.30 g/t AuEq (uncut) @ 9.51m from fully sampled R-08-07 in NW Skarn and Lower Gold Zone.
- Including 55.70m of 7.72 g/t AuEq (uncut) @ 20m.
- Including 0.49m of 759.40 g/t AuEq @ 25.25m.
Cole Evans, President/CEO of Enduro Metals commented, “Despite initial setbacks, 2020 was a transformative year for Enduro Metals, putting the Company in a great position heading into the 2021 exploration season. What is most important is we feel we have a strong understanding of the geological story at Newmont Lake, allowing us to build off our success from 2020 and narrow our focus to copper-gold porphyry systems. This is what we feel is the ultimate prize at Newmont Lake, and we are now well-positioned scientifically to make that push.
Enduro’s 2021 exploration program will start next month. More information will be released in the coming weeks with details on 2021 plans and other geological interpretations/developments. We know where we need to go, what we need to do, and we have the money to do it. I am very much looking forward to getting in the field and making it happen.”
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Figure 2:Stereoscopic image of fine-grained gold observed in the Lower Gold Zone approximately 100m below the NW Zone and NE Extension skarns. The Lower Gold Zone is hypothesized to be the top/side of a larger porphyry system (see Figure 1).
Drill Results:
Hole ID: | From (m) | To (m) | Interval (m) | Gold (g/t) | Silver (g/t) | Copper (%) | AuEq (g/t) | |
NW20-01 | 30.20 | 176.50 | 146.30 | 0.50 | 0.97 | 0.07 | 0.61 | |
68.15 | 73.00 | 4.85 | 10.35 | 15.93 | 0.73 | 11.52 | ||
70.28 | 73.00 | 2.72 | 17.15 | 26.19 | 1.18 | 19.05 | ||
NW20-02 | 8.39 | 54.80 | 46.41 | 0.36 | 2.68 | 0.07 | 0.49 | |
15.00 | 15.50 | 0.50 | 13.85 | 27.89 | 1.21 | 15.81 | ||
NW20-03 | 15.54 | 198.06 | 182.52 | 0.53 | 1.06 | 0.04 | 0.60 | |
Met. Screen | 15.54 | 198.06 | 182.52 | 0.61 | 1.06 | 0.04 | 0.68 | |
15.54 | 118.84 | 103.30 | 0.70 | 0.76 | 0.04 | 0.76 | ||
Met. Screen | 15.54 | 118.84 | 103.30 | 0.84 | 0.76 | 0.04 | 0.90 | |
55.07 | 56.07 | 1.00 | 20.75 | 4.34 | 0.46 | 21.42 | ||
Met. Screen | 55.07 | 56.07 | 1.00 | 34.50 | 4.34 | 0.46 | 35.17 | |
NW20-04 | 43.80 | 276.70 | 232.90 | 0.46 | 1.63 | 0.05 | 0.55 | |
115.60 | 254.22 | 138.62 | 0.70 | 1.21 | 0.08 | 0.82 | ||
119.83 | 153.40 | 33.57 | 2.10 | 4.05 | 0.24 | 2.47 | ||
119.83 | 120.33 | 0.50 | 54.59 | 135.00 | 1.18 | 57.78 | ||
NW20-05 | 77.20 | 78.20 | 1.00 | 2.25 | 3.43 | 0.03 | 2.33 | |
110.20 | 110.70 | 0.50 | 2.14 | 1.97 | 0.08 | 2.27 | ||
238.00 | 239.00 | 1.00 | 2.69 | 1.85 | – | 2.71 | ||
NW20-06 | 128.54 | 275.00 | 146.46 | 0.21 | 0.56 | 0.04 | 0.27 | |
222.61 | 223.51 | 0.90 | 10.35 | 2.00 | 0.04 | 10.41 | ||
NW20-07 | 187.80 | 190.12 | 2.32 | 3.21 | 11.27 | 0.12 | 3.50 | |
247.00 | 248.58 | 1.58 | 2.12 | 3.13 | 0.10 | 3.29 | ||
NW20-08 | 236.18 | 237.00 | 0.82 | 6.80 | 1.53 | 0.33 | 7.26 | |
NW20-09 | 144.12 | 172.46 | 28.34 | 10.03 | 2.31 | 0.36 | 10.54 | |
Met. Screen | 144.12 | 172.46 | 28.34 | 10.48 | 2.31 | 0.36 | 10.99 | |
159.88 | 168.73 | 8.85 | 31.09 | 6.54 | 1.07 | 32.61 | ||
Met. Screen | 159.88 | 168.73 | 8.85 | 32.52 | 6.54 | 1.07 | 34.04 | |
162.45 | 163.04 | 0.59 | 225.30 | 25.81 | 4.90 | 232.20 | ||
Met. Screen | 162.45 | 163.04 | 0.59 | 231.9 | 25.81 | 4.90 | 233.65 | |
NW20-10 | 156.87 | 270.00 | 113.13 | 0.53 | 0.35 | 0.05 | 0.60 | |
156.87 | 181.31 | 24.44 | 1.84 | 0.73 | 0.11 | 2.00 | ||
156.87 | 157.80 | 0.93 | 10.07 | 1.98 | 0.02 | 10.12 | ||
176.52 | 177.55 | 1.03 | 7.94 | 1.75 | 0.36 | 8.45 | ||
180.66 | 181.31 | 0.65 | 20.30 | 11.21 | 1.84 | 22.91 | ||
NW20-11 | 236.52 | 289.03 | 52.51 | 0.21 | 0.33 | 0.01 | 0.23 | |
NW20-12 | 270.74 | 289.41 | 18.67 | 0.33 | 0.45 | 0.01 | 0.35 | |
NW20-13 | 440.03 | 473.40 | 33.37 | 0.39 | – | – | 0.39 | |
KZ20-01 | 18.83 | 41.06 | 22.23 | 1.42 | 5.89 | 0.52 | 2.20 | |
21.64 | 32.48 | 10.84 | 2.64 | 11.06 | 0.96 | 4.06 | ||
KZ20-02 | 23.45 | 114.25 | 90.80 | 0.32 | 0.40 | 0.05 | 0.33 | |
23.45 | 33.45 | 10.00 | 0.82 | 0.92 | 0.27 | 1.19 | ||
93.55 | 114.25 | 20.70 | 0.88 | 0.50 | 0.03 | 0.93 | ||
KZ20-03 | 23.22 | 44.38 | 21.16 | 0.85 | 0.38 | 0.22 | 1.15 | |
24.52 | 35.78 | 11.26 | 1.48 | 0.57 | 0.39 | 2.01 | ||
KZ20-04 | 32.59 | 33.27 | 0.68 | 1.64 | 0.35 | 0.81 | 2.73 | |
Channel | 2.00 | 12.00 | 10.00 | 0.98 | – | – | – | |
2.00 | 4.00 | 2.00 | 2.40 | – | – | – | ||
10.00 | 12.00 | 2.00 | 1.20 | – | – | – | ||
R-07-09 | 6.86 | 165.40 | 156.12 | 1.72 | 2.60 | 0.10 | 1.89 | |
Complete | 6.86 | 93.15 | 86.29 | 3.00 | 4.53 | 0.16 | 3.27 | |
Sampling | 15.24 | 16.76 | 1.52 | 29.60 | 11.40 | 0.36 | 30.22 | |
26.61 | 28.96 | 2.35 | 27.28 | 9.95 | 0.46 | 28.02 | ||
R-08-07 | 9.51 | 153.51 | 144.00 | 3.18 | 3.66 | 0.06 | 3.30 | |
Complete | 20.01 | 75.71 | 55.70 | 7.51 | 8.82 | 0.08 | 7.72 | |
Sampling | 25.25 | 25.69 | 0.44 | 753.00 | 460.00 | 0.69 | 759.40 | |
75.71 | 153.51 | 78.91 | 0.49 | 0.32 | 0.04 | 0.55 |
Table 1: Drilling results from all 17 drill holes completed in the McLymont Fault area listed in numerical order.
Metal prices used in AuEq calculations are as follows: Gold $1650/oz, Silver $19.50/oz, Copper $3.25/lb. The AuEq formula used for calculations is: AuEq g/t = (Au ppm * 100%) + (((Ag ppm * 0.63) * 100%) / 53.21) + (((Cu ppm * 0.007165029) * 100%) / 53.21) True widths are unknown as the mineralized body remains open and requires further drilling. Recoveries are assumed to be 100% for the purposes of equivalent calculations.
To view an enhanced version of this graphic, please visit:
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Figure 3: Plan view map of drilling along the McLymont Fault. Note most historic drilling was completed between 1987-1990 by a previous operator.
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Figure 4: Plan view map of drilling and mapping in the Ken-Glacier area.
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Figure 5: Disseminated pyrite with trace chalcopyrite within a K-feldspar altered monzodioritic intrusion encountered at 440m downhole in NW20-13. The intrusion and related breccia assayed 33.37m of 0.40 g/t Au with sporadically elevated copper values.
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Figure 6: Hydrothermal brecciation immediately adjacent to the K-feldspar altered monzodioritic intrusion encountered in NW20-13. The intrusion and related breccia assayed 33.37m of 0.40 g/t Au with sporadically elevated copper values.
Hole | Au OG | Au Total | Au (+) Frac. | Au (-) Frac. | Au (-) Frac. | Au Δ (g/t) | Au Δ (%) |
NW20-09 | 39.77 | 42.5 | 160.2 | 38.18 | 34.18 | + 2.73 | + 6.86% |
225.30 | 231.9 | 1,511.4 | >100 | >100 | + 6.60 | + 2.93% | |
19.46 | 19.4 | 43.5 | 18.05 | 18.03 | Nil. | Nil. | |
20.68 | 20.1 | 37.7 | 19.78 | 19.25 | – 0.60 | – 2.80% | |
47.08 | 49.7 | 157.2 | 46.84 | 44.83 | + 2.62 | + 5.57% | |
36.80 | 48.8 | 246.4 | 39.32 | 39.99 | + 12.00 | + 32.61% | |
42.08 | 38.9 | 117.5 | 35.32 | 34.43 | – 3.18 | – 7.56% | |
8.70 | 8.7 | 11.3 | 8.70 | 8.54 | Nil. | Nil. | |
15.85 | 15.6 | 20.1 | 15.59 | 15.18 | – 0.26 | – 1.58% | |
6.55 | 7.8 | 7.3 | 7.82 | 7.88 | + 1.33 | + 19.08% | |
Weighted | Average | Δ = | + 1.85 | + 4.67% |
Table 2: Metallic Screen breakdown from NW20-09 the Troy Veins discovery hole. Note overlimit Au (-) Fraction from the 231.9 g/t Au samples were 191.2 g/t Au and 191.4 g/t Au on overlimit analysis, respectively.
QAQC / Analytical Procedures
Core samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-221 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 48 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and copper, lead, and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Enduro Metals Corp conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 4 million Common Shares to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 202km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
- Published in Enduro Metals Corp., Mining, News Home
Enduro Upgrades US Listing to OTCQB
Enduro Metals Corporation (TSXV: ENDR) (OTCQB: SIOCF) (FSE: SOG) (“Enduro” or the “Company“) is pleased to report that Enduro’s USA’s ticker symbol “SIOCF” has been upgraded to trade on the OTCQB Venture Markets effective February 1st, 2021.
It is anticipated that Enduro’s upgraded listing to the OTCQB will provide greater liquidity and a more seamless trading experience for our U.S. shareholders. With enhanced reporting requirements and greater transparency required with the OTCQB listing, the upgrade also provides exemptions from U.S. state securities laws or “blue sky” exemptions which may help to further increase liquidity and expand investment advisors’ ability to research and recommend investment in Enduro.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Enduro Metals on https://www.otcmarkets.com/stock/SIOCF.
Furthermore, the Company is in the process of changing its US ticker symbol and will provide an update once approved. The Company’s common shares continue to trade on the Canadian TSX Venture Exchange under the symbol “ENDR“. The Company’s listings on the two exchanges provides North Americans the ability and ease to join as investors.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 4 million Common Shares to Romios . Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 202km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
- Published in Enduro Metals Corp., Mining, News Home
Enduro Drilling Intersects 17.15 g/t Gold, 26.20 g/t Silver, and 1.18% Copper Over 2.72 Metres; Evidence Mounting for a Large-Scale Gold System – 139 Metres of 0.82 g/t AuEq
Enduro Metals Corporation (TSXV: ENDR) (OTCQB: SIOCF)(FSE: SOG) (“Enduro Metals” or the “Company“) is pleased to report drill assay results from another four diamond drill holes from the 17-hole program completed along the McLymont Fault during the 2020 exploration program at Newmont Lake. The McLymont Fault is 1 of 4 major systems within the Company’s 638 square kilometre Newmont Lake Project situated in the heart of BC’s prolific Golden Triangle.
Highlights:
- All four drill holes intersected shallow high-grade gold including 2.72m of 17.15 g/t gold, 26.19 g/t silver, and 1.18% copper in our first drill hole of 2020. More grades as high as 54.59 g/t gold, 135 g/t silver, and 1.18% copper over 0.50m in step-outs.
- Three of four drill holes also intersected longer intervals of lower-grade, bulk tonnage gold. NW20-04 intersected 138.6m of 0.82 g/t AuEq (“Gold Equivalent”), including 33.6m of 2.47 g/t AuEq starting at 119.83m depth. The drill hole ended in gold mineralization and remains open.
- Discovery of the strongest gold – copper geochemical anomaly at Newmont Lake to date along trend of current high-grade gold drilling. The discovery is concurrent with a large ZTEM geophysical anomaly.
- Mounting evidence of a large-scale, gold-copper porphyry system along the McLymont Fault – potentially the ultimate source of the shallow gold and copper mineralization drilled to date.
Drill Results:
The first four holes of the program were designed to expand the footprint and increase the amount of known gold mineralization within the footprint first established by 1980’s drilling along the McLymont Fault – a regional structure now recognized as an important conduit for gold mineralization.
Figure 1: Long section looking west-northwest at the McLymont Fault. The first horizon of high-grade gold mineralization remains open along strike. The second high-grade horizon is beginning to develop. Lower-grade porphyry-like gold mineralization is developing in multiple drill holes suggesting there is a system in the vicinity.
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- NW20-01 (-85°/300°) intersected 17.15 g/t gold, 26.19 g/t silver, and 1.18% copper over 2.72m. Mineralization was seen over a longer bulk-tonnage gold interval of 146.30m of 0.61 g/t AuEq starting at 30m depth.
- NW20-02 (-45°/300°) was drilled to establish a mineralization vector. It also successfully intersected 13.85 g/t gold, 27.89 g/t silver, and 1.21% copper over 0.50m, but the shallow dip of the hole vectored out of consistent gold mineralization below 55m.
- NW20-03 (-65°/300°) resulted in the longest mineralized interval of the three-holes drilled from the first pad. It intersected 103.3m of 0.76 g/t starting at 16m from surface. A high-grade interval of 20.75 g/t gold, 4.34 g/t silver, and 0.46% copper over 1.00m was contained within.
- 120m to the northeast, NW20-04 (-80°/300°) intersected 138.62m of 0.82 g/t AuEq. A higher-grade centre containing 33.57m of 2.47 g/t AuEq persisted, including 54.59 g/t gold, 135.00 g/t Ag, and 1.18% copper over 0.50m starting at 120m. This is the first 40m step-out into the NE Extension away from NW19-12, connecting a high-grade centre of 44.13m of 4.48 g/t AuEq, including 1.00m of 76.56 g/t gold, 11.54 g/t silver, and 0.47% copper. NW19-12 contained a total mineralized interval of 188.00m of 1.23 g/t AuEq.
- 160m to the northeast from NW20-04, previously reported NW20-09 intersected 8.85m of 31.09 g/t gold, 6.54 g/t silver, and 1.07% copper, marking the discovery of an intrusion-related vein system. Mineralization is open along strike (see Enduro October 21st, 2020).
The limited drilling activity completed prior to Enduro was focused on near-surface, high-grade gold. The continuity of this high-grade zone to the northeast is encouraging and remains open. The wider intervals of gold mineralization which have similarities to mineralization seen in the neighbouring Sulphurets Camp are early signs of gold – copper porphyry potential near the high-grade gold. Enduro’s exploration strategy has resulted in the majority of drill holes completed by the Company to have ended in these broad, bulk-tonnage gold mineralization, with indications that mineralization may continue to significant depths.
Gold – Copper Porphyry Potential at McLymont:
The Company has discovered the strongest gold – copper geochemical anomaly to date near the edge of a retreating glacier, immediately adjacent to the NW Zone and NE Extension. The anomaly consists of a 300m x 220m area averaging >0.1 g/t gold and >0.1% copper in the soil. An even larger gold anomaly of >0.05 g/t gold in soil spanning over 700m in length parallel to the McLymont Fault encompasses the entire area (see Figure 2 & 3).
Furthermore, recently amalgamated ZTEM geophysical data collected and inverted by Romios Gold Resources has identified a strong conductor extending to a minimum depth of 500m directly underneath the newly discovered gold and copper anomaly. Enduro now believes there is strong, geological, geochemical, and geophysical evidence for the presence of a large gold-copper porphyry system adjacent to the NW Zone gold skarn and NE Extension gold skarn/epithermal veining. The target has never been drilled.
Figure 2: 3D view of the McLymont Fault looking at the NW Zone, NE Extension, Goldfish, and the newly discovered anomaly near the glacier’s historic edge. All targets are either sub-alpine or at valley bottom. The McLymont Fault targets sit 18km up the valley from an all-season road network connecting to Hwy 37, and a 303-megawatt hydroelectric power facility.
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“We are consistently intersecting shallow, high-grade gold and copper mineralization along our down-plunge target. Signs of increasing grade and continuity along trend are displayed by the 8.85m of 31.09 g/t gold, 6.54 g/t silver, and 1.07% copper in NW20-09, located 400m northeast from the original surface discovery. At this point, we do not know the limits of the system,” commented Enduro CEO Cole Evans. “What is critical for shareholders to understand besides the high-grade intersections is the broader, bulk-tonnage gold intervals that have been intersected in numerous drill holes as we continue to explore. That is exactly what we want because ultimately near-surface high-grade gold mineralization in the Golden Triangle is commonly spatially associated with a porphyry deposit. Furthermore, porphyry deposits are rarely isolated events and often form in clusters.”
“Figure 3 tells an important story. Mineralization is developing similar in style to deposits such as KSM, Iron-Cap, Snowfields, and Treaty Creek located 50km to the southeast. However, the Newmont Lake property has seen a small fraction of the exploration seen by those other deposits, and even our deepest drill holes to date would barely scratch the surface of a large porphyry deposit that are typically a kilometre or more in vertical extent. It’s exciting to see the geophysics, geochemistry, alteration, structure, and geochronology all lining up consistent with what one may expect from a large porphyry deposit.”
Figure 3: Plan view map of gold in soils with 3D ZTEM Inversion at 500m along the McLymont Fault. Grid spacing of samples is 50m x 50m. A 700m long >50ppb gold anomaly runs parallel to the fault. The strongest part of the anomaly is ~200m away from all historic and current drilling efforts to-date.
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Table 1: Spatially highlighted assays to date displayed in Figure 1 in order from left to right. Metal prices used in AuEq calculations are as follows: Gold $1650/oz, Silver $19.50/oz, Copper $3.25/lb. The AuEq formula used for calculations is: AuEq g/t = (Au ppm * 100%) + (((Ag ppm * 0.63) * 100%) / 53.21) + (((Cu ppm * 0.007165029) * 100%) / 53.21) True widths are unknown as the mineralized body remains open and requires further drilling. Recoveries are assumed to be 100% for the purposes of equivalent calculations.
Texas Creek Intrusion
As part of a recent geochronology study completed by Dr. Kyle Larson at the University of British Columbia | Okanagan Campus, the Company has age-dated a monzonitic intrusion in the hanging wall of the McLymont Fault to be 188 +/- 2 Ma in age. This age is highly significant because it falls within the Early Jurassic 202 – 185 Ma time window and is very similar in composition to the famous Texas Creek Intrusive Suite – the rocks responsible for forming multiple deposits in the Golden Triangle including: Kerr – Sulphurets – Mitchell (KSM), Iron Cap, Snowfields, Treaty Creek, Brucejack, Snip, and Premier.
Figure 4: Slab sample of the monzonitic intrusion spatially associated with the NW Zone, NE Extension, and newly discovered anomaly along the McLymont Fault.
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QAQC / Analytical Procedures
Core samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-221 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 48 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and copper, lead, and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Enduro Metals Corp. conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 4 million Common Shares to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 202km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
- Published in Enduro Metals Corp., Mining, News Home
Enduro Provides Year-End Exploration and Corporate Update
Enduro Metals Corporation (TSXV: ENDR) (OTC Pink: SIOCF) (FSE: SOG) (“Enduro Metals” or the “Company“) is pleased to provide shareholders with a year-end exploration and corporate update.
2020 Summer Exploration Program
An enormous amount was accomplished in the field program, including:
- 4,688 metres of diamond drilling with 3,396 core samples assays
- 511 core samples collected and submitted from unsampled historic core
- 6,727 hyperspectral measurements of diamond drill core
- 2,500 hyperspectral measurements of field samples
- 850 soil samples
- 252 rock samples
- 15 metres of channel sampling
- 9 kilometres of induced polarization (IP) geophysics
- 4 square kilometres of 1:2000 scale geological mapping
Enduro is beginning to interpret the early results received from the exploration program, with the bulk of the assays still pending.
The 2020 program was built on the systematic work done at Newmont Lake during the inaugural 2019 exploration campaign which included, modern data amalgamation, large-scale geochemical sampling of key areas, and initial diamond drilling at the Ridge Zone (Burgundy Ridge & 72 Zone) and McLymont Fault (NW Zone). The work suggested that the structure that the structure controlling gold mineralization associated with the McLymont Fault dips into the side of the mountain, the drilling in 2020 was planned step-out to test the potential strike length and width of the system as well as other targets at Chachi and Cuba.
The single hole reported on October 21st, 2020 was rush assayed due to the abundant amount of visible gold observed while drilling. Diamond Drill Hole NW20-09 intersected 8.85m of 31.09 g/t and 1.07% copper in the NE Extension of McLymont Fault. We continue to wait for approximately 95% of this season diamond drill assay results from this area, Chachi Corridor and at Cuba, because of long delays in the labs due to Covid.
In addition to drilling, Enduro carried out extensive regional mapping and conducted geophysical and geochemical surveys in specific target areas. Samples were collected for chronological testing at the Charles Fipke Centre for Innovative Research at UBC Okanagan, and 3D modelling data will all become available shortly.
Winter Development Plans
The Company is currently planning a winter expedition program which will seek and test new winter-use overland transportation routes at the Newmont Lake Project. Successful results from this exercise will aid in the Company’s goals of being one of the lowest cost-per-metre greenfield explorers in BC’s Golden Triangle.
British Columbia Mining Exploration Tax Credit
Enduro has submitted its British Columbia Mining Exploration Tax Credit (BCMETC) application to Canada Revenue Agency for fiscal year 2019 to take advantage of the recent permanently established refundable tax incentive in British Columbia. The Company may be eligible to receive a 20% refundable tax credit on certain qualified mining exploration expenses which include prospecting, drilling, trenching, test pits and preliminary sampling. Further application will be filed for 2020.
100% Ownership Earn-In Developments
To date, Enduro Metals has issued to Romios Gold Resources Inc. 8 million shares, $1 million cash and has spent the required $8 million expenditure budget. 4 million of the 8 million shares were delivered to Romios as of November 29, 2020, subject to “lock-up” provisions, where 1 million shares are restricted for 6 months and 3 million shares are restricted for 12 months. To exercise its 100% option interest, Enduro is required to make a final $1 million cash payment by November 29th, 2021 and issue to Romios a final 4 million shares that will also be subject to “lock-up” provisions extending to November 29th, 2022. Romios will retain a 2% NSR on the property with a 5km area of interest of which Enduro may reduce to 1% for a total cash payment of C$4 million at anytime.
Corporate Developments
Recently, Enduro recovered $150,000 CAD in cash, 1,420,000 common shares, and 1,600,000 warrants priced at $0.15 CAD from parties related to former Crystal Lake Mining Corporation. Proceeds will be deposited to the Company treasury, and the recovered warrant contracts will be cancelled.
Exercising of Warrants
Since October 2019, Enduro Metals has received approximately $1.5 million in cash as a result of the exercise of 9.2M share purchase warrants. Exact figures will be available in Enduro’s next Financials & MD&A report.
Enduro Metals Applies to USA’s OTCQB Market
Enduro has submitted its application to trade its shares in the United States on the OTCQB Venture Market, in conjunction with the DTC eligibility application.
The OTCQB market provides a more seamless trading experience for our U.S.A.-based shareholders and investors. With enhanced reporting requirements and greater transparency, approval for trading on the OTCQB market would also provide exemptions from the U.S. state securities laws or “blue sky” exemptions which may help to further increase liquidity and expand investment advisors’ ability to research and recommend investment in Enduro.
In conjunction with its OTCQB market application, Enduro is applying for approval from the Depository Trust Company (“DTC”) to make its common shares eligible to clear electronically and settle through DTC. This approval would further facilitate trading in the United States.
Annual General Meeting Results
At the Annual General Meeting of shareholders held December 17, 2020, all resolutions proposed to shareholders were duly passed. 35,812,137 common shares of the Company, representing approximately 17.86% of the Company’s issued and outstanding common shares as at the record date were voted.
Invitation to Participate in the Core Shack at AME Remote Roundup 2021, and Virtual Conferences
The Association for Mineral Exploration (AME), and its Core Shack Committee, have invited Enduro Metals to present our core from the Newmont Lake project at their virtual conference from Monday, January 18 – Friday, January 22, 2021. Enduro accepted and will also have a virtual investor booth.
All booths of the conference are completely sold out and filled. The conference is one of the main annual highlights for the industry with its focus on technical aspects of mineral projects, including, Environmental, Social, and Governance (ESG), investment, and much more.
The Company will also be presenting at Mi3 Communications’ virtual conference on January 12, 2021, along with some of Enduro’s prominent Golden Triangle neighbours. More details to come.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 4 million Common Shares to Romios . Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 202km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
- Published in Enduro Metals Corp., Mining, News Home
Enduro Reports 3.03 g/t Gold over 86 Metres by Adding 2.46 g/t Gold over 26 Metres from Previously Unidentified Mineralization in Historic Drilling
Enduro Metals Corporation (TSXV: ENDR) (OTC Pink: SIOCF) (FSE: SOG) (“Enduro Metals” or the “Company“) is pleased to report further drill results from historically unsampled drill core along the McLymont Fault of the Company’s Newmont Lake Project, providing additional evidence for significantly more gold within the previously drilled area. More assays are awaited from recent drilling which tested targets beyond the area of the historic drilling, including recently released NW20-09 which cut 8.85m of 31.09 g/t Au, and 1.07% Cu 300 metres away. The Newmont Lake Project is located in the heart of British Columbia’s Golden Triangle. McLymont is one of four large-scale geological systems on the 638 km2 project controlled by Enduro.
R-07-09’s original reported intersection was 19.69m of 7.82 g/t Au, including 2.35m of 27.32 g/t Au (see Romios Gold news release of December 18th, 2007). Enduro Metals took an additional 52 samples over a total of 83.08 metres from previously unsampled core. Of those 52 samples, 18 returned new anomalous gold values (see Figure 1).
Assays below the original mineralized interval revealed another mineralized horizon of 26m of 2.46 g/t Au, 3.17 g/t Ag, and 0.11% Cu starting at 56.60m. Only 1 sample was taken in the newly discovered horizon when it was originally drilled in 2007 which returned 1.68m of 6.58 g/t Au, 29.6 g/t Ag, and 0.74% Cu (see Romios December 18th, 2007). The combination of these historic and new assays resulted in the longer interval of high-grade gold mineralization.
Historic diamond drill hole R-07-09, sampled at the beginning of the 2020 field season as part of the Company’s analysis of historic drill core returned a newly reported interval of 1.72 g/t Au, 2.59 g/t Ag, and 0.10% Cu over 156.12m starting at 6.86m depth, including 3.03 g/t Au, 4.57 g/t Ag, and 0.17% Cu over 86.29m (see Table 1).
Diamond drill hole R-07-09 is a vertical drill hole in the NW Zone located:
- 25m south of previously reported R-08-07; another historic drill hole sampled as part of the historic sampling campaign which returned 144.00m of 3.18 g/t Au, including 0.44m of 753 g/t Au, 462 g/t Ag, and 0.69% Cu (see Enduro July 28th, 2020).
- 150m southwest of previously reported NW19-12 (drilled in 2019) which intersected 44.13m of 4.03 g/t Au and 0.29% Cu within 188.00m of 1.10g/t Au, 1.15 g/t Ag, and 0.09% Cu starting at 67.0m depth (see Enduro July 28th, 2020).
- 300m southwest of recently reported NW20-09 which intersected 10.03 g/t Au, and 0.36% Cu over 28.34m starting at 144.12m depth (see Enduro October 21st, 2020), including 8.85m of 31.09 g/t Au, and 1.07% Cu and 225.30 g/t Au, and 4.90% Cu over 0.59m.
Furthermore, on the opposite end of the NW Zone, non-material unreported drilling from 2019 encountered additional high-grade gold at surface 30m west of historic NW Zone drilling, along with increasing copper enrichment. NW19-24 intersected 3.54m of 6.10 g/t Au, 4.04 g/t Ag, and 0.16% Cu starting at 8.46 metres depth, including 1.09m of 15.82 g/t Au, 11.30 g/t Ag, and 0.42% Cu. This high-grade gold intersection is a 30m step-out to the southeast from the nearest historic drilling completed in 1987 which intersected 2.80 metres of 14.40 g/t Au, 14.20 g/t Ag, and 0.32% Cu starting at 5.60 metres depth.
NW19-24 is one of 4 short holes drilled in 2019 immediately southwest of the NW Zone which were drilled for geological modelling purposes (see Figure 2). All 4 short drill holes contain broader intervals of low-grade anomalous gold and copper currently being interpreted.
Current drilling along the McLymont Fault is 16km up the McLymont Creek Valley from the 303-megawatt Northwest Projects hydroelectric power complex, which is serviced by an all-season road access and is tied into the provincial power grid.
Cole Evans, President/CEO of Enduro commented, “The R-07-09 results provide additional evidence of previously unknown gold mineralization similar to results from R-08-07’s 144.00m of 3.18 g/t Au reported this past July. This suggests there is significantly more gold mineralization within the Northwest Zone than was previously understood over much broader intervals. Pending 2020 drill results will help develop the relationship between mineralization in the NW Zone and elsewhere along the McLymont Fault, including our recent success from NW20-09 in the NE Extension.”
Table 1: Summary of combined new and historical assays of R-07-09 detailing mineralization. No grade cutting was used.
Hole ID: | From (m) | To (m) | Core Length (m) | Au (g/t) | Ag (g/t) | Cu (%) |
R-07-09 | 6.86 | 165.40 | 156.12 | 1.72 | 2.59 | 0.10 |
including | 6.86 | 93.15 | 86.29 | 3.03 | 4.57 | 0.17 |
including | 6.86 | 48.00 | 41.14 | 4.52 | 7.29 | 0.25 |
including | 10.67 | 30.36 | 19.69 | 7.82 | 12.45 | 0.42 |
including | 26.61 | 28.96 | 2.35 | 27.32 | 9.96 | 0.46 |
and including | 56.60 | 82.60 | 26.00 | 2.46 | 3.17 | 0.11 |
including | 63.35 | 63.85 | 0.50 | 33.52 | 10.97 | 1.51 |
including | 65.85 | 66.60 | 0.75 | 11.32 | 11 | 0.17 |
including | 75.10 | 76.65 | 1.55 | 14.15 | 6.39 | 0.07 |
Table 2: Summary of assays returning >10 g/t Au from R-07-09. True width is estimated to be >90% of the reported core length based on lithological modelling. R-07-09 was drilled vertically to a depth of 190.50m.
Hole ID: | Historic vs.New | From (m) | To (m) | Core Length (m) | Au (g/t) | Ag (g/t) | Cu (%) |
R-07-09 | Historic | 15.24 | 16.76 | 1.52 | 29.6 | 11.4 | 0.35 |
Historic | 27.43 | 28.96 | 1.52 | 29.0 | 11.4 | 0.46 | |
Historic | 26.61 | 27.43 | 0.82 | 24.2 | 7.3 | 0.47 | |
New | 63.35 | 63.85 | 0.50 | 33.52 | 10.97 | 1.51 | |
New | 65.85 | 66.60 | 0.75 | 11.32 | 11.0 | 0.17 | |
New | 75.10 | 76.65 | 1.55 | 14.15 | 6.39 | 0.07 |
Figure 1: Cross Section of R-07-09 highlighting areas of gold mineralization, including identification of an additional high-grade gold horizon immediately beneath historic sampling.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/67883_0a32f2c7b44d3bc3_002full.jpg
Figure 2: Plan view map of 2020 drilling at the NW Zone and NE Extension along the McLymont Fault, Newmont Lake Project. Historic drilling completed by several previous operators largely between 1987-1990 is shown in grey. R-07-09 is a vertical drill hole completed to a depth of 190.50m in 2007 highlighted in red.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/67883_0a32f2c7b44d3bc3_003full.jpg
Historic Resource
The historic resource estimate from within the NW Zone is based on diamond drilling completed between 1987-1990 by Gulf Minerals with an estimate of 1,406,000 tonnes of 5.16 g/t AuEq (4.43 g/t Au, 6.4 g/t Ag, and 0.22% Cu) containing 200,000 oz gold, 291,000 oz silver, and 6,790,000 lbs copper contained within approximately 100m of surface at a “base case” cut-off grade of 2.00 g/t AuEq (see Mineral Resource Estimate on North West Zone, Newmont Lake Property, Romios Gold Resources 2007). 16,992m of diamond drilling were completed between 1987-1990, of which 3,382m was assayed for gold mineralization. Insufficient work has been completed to classify the historical estimate as mineral resources. No mineral reserves are contained in the historical resource estimate.
The existing mineral envelopes used by Gulf Minerals are based on the 1987-1990 drilling completed by Gulf Minerals (16,992 m total) and are indicative of a concentration of reasonably continuous, high grade, gold-silver-copper mineralization at the NW Zone. However, only 20% of the total core drilled was sampled 2019 / 2020 drilling and resampling programs on historic core are now demonstrating that there is significant additional gold mineralization lying both within and outside of historic mineral envelopes which would not have been included in the historic estimate. Additional work is required to complete a new resource estimate for the NW Zone.
Summer 2020 Program Summary
During the 2020 summer exploration season, Enduro Metals completed:
- 4,688 metres of diamond drilling with 3396 core samples assays
- Collected and submitted 511 core samples from unsampled historic core
- 6,727 hyperspectral measurements of diamond drill core
- 2,500 hyperspectral measurements of field samples
- 850 soil samples
- 252 rock samples
- 15 metres of channel sampling
- 9 kilometres of induced polarization (IP) geophysics
- 4 square kilometres of 1:2000 scale geological mapping
The Company is currently awaiting, receiving, and/or interpreting results from the exploration work completed in 2020. The Company remains in a strong financial position. Plans for winter 2020/2021 operations will be announced once all reporting from the summer 2020 Program is completed.
Enduro Metals QAQC / Analytical Procedures
Core samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-221 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 48 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and copper, lead, and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Enduro Metals Corp conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
Romios Gold 2007 QA/QC Procedures
As part of the sampling procedure, a QA/QC program was carried out to ensure accuracy in assay results. This program is outlined below. One of four (HLHZ, FCM-2, 3C and BL-3) standards from an outside laboratory (CDN Labs6 of Delta, BC – standard certificates are included in Appendix E) were inserted into the sample stream. BL-3 is a blank. The number of QA/QC samples taken for the summer 2007 drill program total 49, or 10% of the 498 samples collected and submitted to the laboratory. This QA/QC program was completed in addition to the internal QA/QC program done by ALSChemex Labs. Any failures in the standards or blanks were evaluated in the field for any field related errors, and selected failed batches were re-assayed by ALS-CHEMEX Labs to determine the validity of the original assays. Appendix E contains a breakdown of the QA/QC program. Results are within acceptable limits.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 8 million Common Shares to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 202km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: info@endurometals.com
https://www.endurometals.com
- Published in Enduro Metals Corp., Mining, News Home
Enduro drills 8.85m of 31.09g/t Au, 2.07% Cu at Newmont
Enduro Metals Corporation (TSXV: ENDR) (OTC Pink: SIOCF) (FSE: SOG-FF) (“Enduro” or the “Company“) is pleased to report its first-received drilling results from 2020’s exploration campaign. This initial result is from the NE Extension Zone along the McLymont Fault of the Company’s Newmont Lake Project, located in the heart of northwestern British Columbia’s Golden Triangle. The McLymont Fault is one of four target areas on the 638 km2 Newmont Lake Project.
Drill hole NW20-09 intersected 31.09 g/t Au, and 1.07% Cu over 8.85 metres starting at 159.88m downhole, including 225.30 g/t Au, and 4.90% Cu over 0.59 metres at 162.45m downhole. Mineralization was identified over a broader interval of 10.03 g/t Au, and 0.36% Cu over 28.34m starting at 144.12m with 8 individual samples containing >15 g/t Au.
Hole ID: | From (m) | To (m) | Core Length (m) | Au (g/t) | Ag (g/t) | Cu (%) |
NW20-09 | 144.12 | 172.46 | 28.34 | 10.03 | 2.31 | 0.36 |
including | 159.88 | 168.73 | 8.85 | 31.09 | 6.54 | 1.07 |
and incl. | 161.90 | 162.45 | 0.55 | 39.77 | 10.10 | 1.13 |
and incl. | 162.45 | 163.04 | 0.59 | 225.30 | 25.81 | 4.90 |
and incl. | 163.04 | 163.55 | 0.51 | 19.46 | 5.93 | 1.75 |
and incl. | 164.53 | 165.20 | 0.67 | 20.68 | 4.29 | 0.45 |
and incl. | 165.20 | 165.90 | 0.70 | 47.08 | 10.8 | 0.95 |
and incl. | 165.90 | 166.45 | 0.55 | 36.80 | 13.5 | 1.80 |
and incl. | 166.45 | 166.95 | 0.50 | 42.08 | 13.83 | 2.62 |
and incl. | 167.50 | 168.00 | 0.50 | 15.85 | 5.26 | 0.99 |
Table 1: Intervals have been reported as core length as insufficient drilling has been undertaken to determine true widths of the interval at this time. The 28.34m interval was fully sampled and all uncut assays were included in the 10.03 g/t Au average.
The intersect is approximately 170m northeast of the historic NW Zone along the McLymont Fault, a 160m step-out from previously reported diamond drill hole NW19-12 which intersected 44.13m of 4.03 g/t Au and 0.29% Cu (see Enduro July 28th, 2020) and is 285m step-out from previously reported diamond drill hole R-08-07’s 144m of 3.18 g/t Au (see Enduro July 28th, 2020). Mineralization is associated with a swarm of quartz-carbonate veining with distinct euhedral quartz textures containing semi-massive pyrite-chalcopyrite. Fine disseminations of visible gold are common in the vein cement.
NW20-09 was a “rushed assay” drill hole selected due to the volume of visible gold observed while drilling. This is the 1st of 17 drill holes to be reported within the McLymont area during the Company’s 2020 exploration program at Newmont Lake. Additional assay results will be released as they become available. Drilling crews have demobilized for the winter season, and plans are developing for winter infrastructure and operational improvements.
Cole Evans, President/CEO of Enduro commented, “This discovery within the NE Extension is highly significant because of striking similarities to mineralization at the Snip deposit located ~20km SW directly along the regional trend. Further, mineralization in NW20-09 is distinctly different from the skarn mineralization we see at the NW Zone and elsewhere in the NE Extension. This relates back to our current models of 3 gold mineralization styles and how important these concepts are in understanding the McLymont area. Now that field crews have demobilized, we are focused on amalgamating our work from 2020 to create what we believe will be a revolutionary new way to look at the entire Newmont Lake area that may have greater implications for the Golden Triangle as a whole.”
Figure 1: Semi-massive pyrite-chalcopyrite with fine disseminations of visible gold in NW20-09. Figure 1 & 2 collectively represent 0.59m of 225.30 g/t Au, 25.81 g/t Ag, and 4.90% Cu.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6406/66471_5784dde274772bfd_002full.jpg
Figure 2: Semi-massive pyrite-chalcopyrite with fine disseminations of visible gold in NW20-09. Figure 1 & 2 collectively represent 0.59m of 225.30 g/t Au, 25.81 g/t Ag, and 4.90% Cu.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6406/66471_5784dde274772bfd_003full.jpg
Figure 3: Plan view map of 2020 drilling at the NW Zone and the NE Extension along the McLymont Fault, Newmont Lake Project. Historic drilling completed by several previous operators largely between 1987-1990 is shown in grey. A combination of assaying unsampled historic core and historic results were reinterpreted leading to the discovery in NW20-09.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6406/66471_5784dde274772bfd_004full.jpg
QA/QC Analytical Procedures
Core samples from the Newmont Lake Project were sent to MSALABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSALABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-221 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 48 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and copper, lead, and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Enduro Metals Corporation. conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals Corporation, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals Corporation
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 8 million Common Shares to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty (an “NSR”) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 202km2 is owned 100% by Enduro and was acquired via staking or cash purchase. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: info@endurometals.com
https://www.endurometals.com
- Published in Enduro Metals Corp., Mining, News Home
Enduro Metals Provides 2020 Exploration and Drilling Update
Enduro Metals Corporation (TSXV: ENDR) (OTC Pink: SIOCF) (FSE: SOG) (“Enduro Metals” or the “Company“) is pleased to provide a progress update on the ongoing 2020 exploration and drilling campaign at the Company’s Newmont Lake Project, in the heart of northwestern British Columbia’s Golden Triangle.
Exploration Work Completed in 2020 up to September 28th includes:
- 3,656 metres of diamond drilling
- 304 core samples sent in for assay from historic unsampled drill core
- 252 rock samples sent in for assay
- 784 soil samples sent in for assay
- 15 metres of channel sampling
- 15.9 line-km’s of induced polarization (IP) geophysical survey completed
- >2,500 hyperspectral recordings
- 4km sq. of detailed 1:2000 geological mapping around priority target areas
- Staking and acquisition of an additional 3,811 hectares of mineral claims
Cole Evans, President & CEO of Enduro Metals commented, “Unpredictable weather made for a dynamic start to the exploration season. Our field teams have done a tremendous job keeping the field program on schedule, and after my recent visit to the project, I am happy to report all exploration activities including diamond drilling are ongoing. Productivity has been increasing as we move deeper into the exploration season.
The technical team has collected critical oriented core data for the first time in the McLymont area, enabling us to better understand controls on various gold mineralization styles and increasing confidence in our targeting strategies. Drilling will continue into October where productivity is expected to remain high with favourable weather conditions.
Longer than anticipated assay result delivery periods are posing a short-term challenge for the Company and is expected to be an industry-wide challenge resulting from the sudden exploration frenzy across Western Canada. Fortunately, Enduro has onsite state of the art elemental geochemistry and hyperspectral technologies that enhance our abilities to make same day technical decisions. Drill holes are being sent for analysis as they are completed, and we will begin providing results in batches as they become available.
The Chachi Corridor continues to be a high-priority area of interest that was recently expanded by 3,811 hectares of new staking and claim acquisition on the northeastern boundary. Our field teams have completed further IP geophysical surveying in the corridor targeting localities of high-grade silver, zinc, copper, and lead mineralization, along with other boots on the ground exploration techniques. 3D inversion geophysical modelling is underway to aid in solidifying the first-ever drilling targets in the area.”
The following is a summary of completed and/or on-going exploration objectives listed by area of interest for the Newmont Lake Project:
McLymont Fault – High-Grade Gold, Silver, & Copper
- Diamond drilling commenced along the McLymont Fault on August 14th, 2020. A total of 11 planned diamond drill holes totaling 3,266m have been completed to September 28th within the major gold-bearing system focused on the NW Zone and the NE Extension. Drilling is ongoing in this area.
- Diamond drill core processing is still underway, and all assay results are pending from the 2020 diamond drill holes, as well as newly sampled historic diamond drill holes.
- Approximately 6.7 line-km of induced polarization (IP) ground geophysics has recently been completed along the McLymont Fault and geophysical inversion modelling is underway.
- Approximately 2,000 geological stations (locations) with corresponding lithology, alteration, veining, mineralization, and hyperspectral readings have been collected over the McLymont Fault and greater area of interest.
- 1:2000 scale detailed geological mapping has been completed over the NW Zone and the NE Extension.
Figure 1: Plan map of new 2020 Enduro Metals’ diamond drilling sites at the NW Zone and NE Extension, Newmont Lake Project in British Columbia.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6406/64915_f54402ebd4b7ca5d_005full.jpg
The NW Zone and NE Extension are described as a high-grade Au-Ag-Cu system represented by three separate mineralization styles. A massive to semi-massive sulphide carbonate replacement style (skarn), a high-grade epithermal quartz-carbonate +/- pyrite +/- chalcopyrite vein style with selective examples of ultra-high-grade coarse visible gold, and broad Au-Cu mineralization represented by disseminated and vein hosted pyrite +/- chalcopyrite within deeper felsic volcanic packages that lay beneath the upper high-grade portions of the historic resource area and beyond.
Ken Zone – High-Grade Gold, Silver & Copper
- Drilling at the Ken Zone commenced on September 16th, 2020. A total of 4 diamond drill holes (402 m) have been completed to date at the Ken Zone.
- Diamond drill core processing is still underway, and all assay results are still pending from all 2020 diamond drill holes at the Ken Zone.
- 1:2000 scale detailed geological mapping has been completed over the entire high-grade Ken Zone target area.
- Approximately 500 geological stations (locations) with corresponding lithology, alteration, veining, mineralization, and hyperspectral readings have been collected potentially linking the Ken Zone to the NW Zone and NE Extension.
- 15 metres of channel sampling, approximately 800 metres from the Ken Zone, has been completed.
The Ken Zone is located approximately 3 km north of the NW Zone. It is a high-grade Au-Ag-Cu system described by two primary mineralization styles to date. The first style is massive magnetite-chalcopyrite carbonate replacement with the second, a high-grade epithermal quartz-carbonate +/- pyrite +/- chalcopyrite vein system. A 2018 chip sample across high-grade quartz-carbonate-chalcopyrite veins within the magnetite skarn assayed 0.5 m of 11.5% Cu, 30.3 g/t Au, 135 g/t Ag, and 635 ppm Co.
Figure 2: Plan map showing 2020 Enduro Metals’ diamond drill hole sites at the Ken Zone, Newmont Lake Project in British Columbia.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6406/64915_f54402ebd4b7ca5d_008full.jpg
Chachi Corridor – Multi-Element Hydrothermal System
The Chachi Corridor continues to be a key focus area of further geochemical and geophysical work in 2020 following up on grassroot findings from the 2019 exploration season of high-grade gold, silver, copper, lead, zinc, nickel and cobalt occurrences over the 10km x 4km area of interest referred to as the Chachi Corridor. Work in 2020 to September 28th includes:
- 1:2000 scale detailed geological mapping has been completed over the target area of the high-grade Ag-Pb-Zn trend.
- Approximately 300 geological stations (locations) with corresponding lithology, alteration, veining, mineralization, and hyperspectral readings have been collected.
- Approximately 9.2 line-km of induced polarization (IP) geophysics has been completed.
- Further soil sampling has been completed to infill gaps along the 6 km Ag-in-soil anomaly.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro Metals entered into an option agreement to acquire 436km2 from Romios Gold Resources (“Romios Claims”) who has carefully amalgamated the area since 2005 from a number of smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 8 million common shares of Enduro Metals to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty (NSR) on the Newmont Lake Project, or on any after acquired claims within a 5 km radius of the Romios Claims boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 20.258km2 is owned 100% by Enduro Metals and was acquired via staking. Building on prior results, the company’s geological team made several significant discoveries during its initial exploration program in 2019. Diamond drilling in 2019 at the NW Zone demonstrated that the historic gold resource remains open laterally and to depth., Work in 2020 is seeking to further extend the known gold deposit and to investigate the large-scale discovery potential of multiple targets and deposit types. A gold-rich copper porphyry outlined on the Burgundy Trend has striking similarities to large-scale deposits in the region, including the Red Chris deposit for which Newcrest last year paid US$807 million for a 70% interest. Chachi, a newly discovered area, generated high-grade samples of gold, silver, lead, zinc, nickel, and cobalt over a 9km x 4km area with associated geophysical responses.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
“Cole Evans“
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
- Published in Enduro Metals Corp., Mining, News Home
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