1,100 metre Gold-in-Soil Anomaly Defined with Peak Values of 27 ppm, 11 ppm, and 8.42 ppm Gold
VANCOUVER, BC / ACCESSWIRE / August 24, 2020 / Endurance Gold Corporation (TSXV:EDG) (the “Company“) is pleased to provide an update on its 2020 exploration program on the Reliance Gold Property (the “Property“) in southern British Columbia. The Property is located 4 kilometres (“km”) east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold. A soil sample survey consisting of 236 samples of talus fines or C-horizon soil (“soil”) has recently been completed over 1,200 metres (“m”) of strike centered primarily along the altered footwall of the Royal Shear Zone which hosts historically reported gold occurrences and significant drill intersections. Several sample lines were extended to the east to determine baseline geochemical background and some testing of the subparallel Treasure Lineament.
The soil survey demonstrates a robust and continuous northwest-southeast trending gold, silver, arsenic, and antimony anomaly that exceeds 100 parts per billion (“ppb”) gold along a strike length of 1,100 m and width of between 100 and 300 m. The multielement geochemical anomaly is 1,200 m in length and remains open to expansion along strike in both directions. Of the 236 samples collected to date, 64 samples exceeded 100 ppb gold (27% of total) and 12 samples exceeded 1,000 ppb gold. These 12 over-limit soil samples were re-analyzed and returned peak values of 27 parts per million (“ppm”), 11 ppm, 8.42 ppm, 5.55 ppm, 3.77 ppm and 3.66 ppm gold. There is a strong positive geochemical correlation between gold and associated elements silver (+0.85), arsenic (+0.90) and antimony (+0.85). Summary figures showing the soil survey results for gold and silver are appended below and these maps plus additional maps for arsenic and antimony are available on the company’s website.
The soil results have identified areas that are untested by historic exploration activity and warrant follow-up bedrock prospecting, sampling and drilling. The multielement soil anomaly has a positive correlation to the magnetic anomaly identified in the Company’s recent airborne geophysical survey, providing a guide for future anticipated property-scale exploration.
Soil samples were collected by hand using a shovel and/or grub hoe to excavate up to two metres of pumice tephra-ash that covers the Property. Due to the relatively young age of the tephra-ash deposit there is no mature soil development above this tephra-ash horizon. In most of the sample sites the underlying targeted soil sample is developed on weathered bedrock but was also observed in a few locations to be developed on a glacial till horizon, which may mask the bedrock geochemical signature in certain locations along the trend. The airfall pumice tephra-ash horizon was deposited approximately 2,400 years ago. The Mt. Meager volcano complex, the source of the tephra-ash is located approximately 55 km due west of the Property. It was not possible to collect soil samples in some locations where the tephra-ash has accumulated to thicknesses over 2 m.
Prior owners of the Property conducted mobile metal ion (“MMI”) reconnaissance samples that collected a near-surface sample, typically within the tephra-ash horizon. The historic MMI survey results indicate gold anomalous trends on the rest of the Property which remain to be confirmed. To complement this MMI sampling and to evaluate other alternative sampling methodologies that allow for rapid property-scale sampling, a biogeochemical sampling program of Douglas Fir tree branch cuttings was also recently completed in the same area as this reported soil survey. Complete results of the Douglas Fir sampling are expected shortly and will be reported separately.
The Company’s field crews are currently clearing roadside outcrops within the geochemical soil anomaly to enable detailed geological structural mapping and to conduct representative channel and chip sampling. Some initial sampling has been completed and this activity will continue into September. A preliminary archaeological study is now complete. The field-oriented study did not result in the identification of any archaeological remains. The company submitted its application for a drill permit in February and that application is currently in the consultation phase. Dialogue remains active with the local First Nation communities. First Nation contractors are already assisting in the 2020 exploration program activities.
The Royal Shear is a northwest-southeast trending steeply dipping thrust fault with an associated shear zone at least 30 m in width. In areas of known gold mineralization, the hanging wall of the thrust is largely chert and the footwall is dominantly andesitic volcanics that have been sheared and intensely iron-carbonate altered over significant widths. The known gold prospects on the Royal Shear and the geochemical anomaly reported in this release are associated within the iron-carbonate altered and silicified footwall which has been observed in various outcrops along about 700 m of the structural trend.
The Company acquired an option to earn a 100% interest in the Property in September 2019. The Property was previously explored with trenching and diamond drilling from 1985 through 2008. The last program of drilling in 2008, located near the 8.42 ppm soil anomaly reported herein, targeted the Imperial Zone, and returned highlight drill intersection widths of 13.30 grams per tonne (“gpt”) gold over 4.20 m (est 1.8m true width), 7.05 gpt gold over 5.06 m (est 2.05 m true width), 5.70 gpt gold over 12.05 m (est 9.5 m true width), 5.43 gpt gold over 15.35 m (est 10 m true width) and 2.16 gpt gold over 12.13 m (est 6.5 m true width), in five (5) drill holes.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
Soil samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they were prepped and screened to -180 micron using method code SCR-41. Samples were then submitted for aqua regia digestion and analyzed for gold and other trace elements with an ICP-MS finish (method code AuME-TL43). Over limit samples returning greater than 1,000 ppb gold were re-analyzed by Au-AROR43 methodology. The work program was supervised by Darren O’Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O’Brien has reviewed and approved this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Endurance Gold Corporation
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