Enduro Discovers New Copper-Gold Porphyry at Newmont Lake; Drill Intersects 331m of 0.71% CuEq Starting at Surface- Including 146m of 1.00% CuEq
Enduro Discovers New Copper-Gold Porphyry
at Newmont Lake; Drill Intersects 331m of
0.71% CuEq Starting at Surface- Including
146m of 1.00% CuEq
Kelowna, British Columbia--(Newsfile Corp. - October 18, 2021) -
Enduro Metals Corporation
(TSXV:
ENDR) (
OTCQB:
ENDMF) (
FSE:
SOG)
("
Enduro Metals
" or the "
Company
") is pleased to report the
discovery of a new alkalic porphyry system at Burgundy Ridge on its Newmont Lake project in
northwestern British Columbia. BR21-001 intersected
331m of 0.71% CuEq starting at surface
,
including
146m of 1.00% CuEq from 139m
downhole, and
18.27m of 3.00% CuEq from surface
.
The hole was drilled to test an area with some shallow drill holes and high-grade trenches (reference
2019 press releases) within an extensive geochemical/geophysical anomaly. The drill hole confirms a
new copper-gold porphyry discovery in BC's prolific Golden Triangle.
Figure 1:
Cross-section of discovery hole BR21-001 looking north-northeast. Copper and gold assays
are plotted with calculated copper equivalent values. See Table 1 for more details.
To view an enhanced version of this graphic, please visit:
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The surface expression of the Burgundy system is a 2700m x 600m NNE oriented area centred between
the KSM-Treaty Creek porphyry camp and the Galore Creek porphyry camp. Burgundy is 1 of 4 major
systems, identified thus far, within the Company's 654 square kilometre Newmont Lake Project.
Figure 2:
Plan view map of Burgundy displaying TMI Geophysical (Total Magnetic Intensity) data,
copper in surface rock geochemistry, areas of completed geological mapping, and areas of ice/snow
retreat where no geological map exists to date.
To view an enhanced version of this graphic, please visit:
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Cole Evans, President/CEO of Enduro Metals commented
,
"This discovery drill hole at Burgundy
is a pivotal moment for Enduro and the Newmont Lake projects development, confirming the
occurrence of a significant alkalic copper-gold porphyry deposit. This is a true grassroots discovery,
and we are at the very beginning of the process.
What I find exciting is the transitioning alteration of calc-sodic to calcic and calc-potassic
assemblages and also minor amounts of zinc suggesting Burgundy Ridge is on the fringes of a large
system, and we likely have not tested the best portions of the porphyry. The combination of grade,
size, and accessible location of the discovery makes Burgundy a top-tier copper-gold exploration
target, sandwiched between two world-class porphyry camps at Galore Creek and KSM."
Hole ID:
From
To
Interval
Gold (g/t)
Copper
(%)
Zinc (%)
Silver (g/t)
CuEq (%)
BR21-001
5.47
336.90
331.43
0.35
0.29
0.49
5.5
0.71
5.47
23.74
18.27
1.33
1.05
2.91
21.6
3.00
138.22
344.80
206.58
0.43
0.35
0.42
8.3
0.81
138.22
284.02
145.80
0.55
0.42
0.53
8.2
1.00
Table 1:
Reported assay intervals for BR21-001. Metal prices used in CuEq calculations are as
follows: Gold $1670/oz, Silver $21.50/oz, Copper $4.10/lb, and Zinc $1.38/lb. The CuEq formula used
for calculations is: CuEq % = (Cu ppm + ((Au ppm * $53.85) / $0.009038960) + ((Ag ppm * $0.69) /
$0.009038960) + ((Zn ppm * $0.003042382) / $0.009038960)) / 10,000. True widths are unknown as
the mineralized body remains open and requires further drill testing. Recoveries are assumed to be
100% for the purposes of equivalent calculations. Full assay data is available at
www.endurometals.com
.
Figure 3:
Cross-section of BR21-001 displaying calculated copper equivalent (CuEq) values, and bar
charts for each reported interval displaying percent contribution per metal selected for CuEq
calculations. See Table 1 for more details or download full assay sheets
at
www.endurometals.com
(available soon).
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Figure 4:
Representative
drill core from 6.43m to 7.65m in BR21-001 assaying 1.73% Cu, 2.17 g/t
Au, 4.31% Zn, and 37.49 g/t Ag over 1.22m downhole. The "Green Rock Breccia" is a hydrothermal
breccia cemented with sphalerite, chalcopyrite, and pyrite. Significantly, an earlier stage
mineralization event is observed in the form of disseminated chalcopyrite constrained within the K-
feldspar and hematite altered pinky-red clasts. This serves as an indication that an earlier
mineralizing event is nearby.
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Figure 5:
Representative drill core from 207.80m to 209.02m in BR21-001 assaying 1.05% Cu, 1.13
g/t Au, 2.06 g/t Ag, and 0.03% Zn over 1.22m downhole. The zone consists of a brecciated fine
grained syenite porphyry infilled with biotite-calcite-hematite-diopside-actinolite. Mineralization
consists of chalcopyrite-pyrite.
To view an enhanced version of this graphic, please visit:
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Figure 6:
Representative drill core from 221.29m to 222.33m in BR21-001 assaying 1.61% Cu, 1.90
g/t Au, 2.13% Zn, and 30.8 g/t Ag over 1.04m. Alteration consists of pervasive biotite-actinolite-
tremolite alteration of a black siltstone. Mineralization is dominated by chalcopyrite with lesser
sphalerite and minor pyrite.
To view an enhanced version of this graphic, please visit:
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Exploration Update from the CEO
Further results are pending from Burgundy, McLymont Fault, and the Chachi Corridor from 2021
diamond drilling. We anticipate results will be available to shareholders in a shorter timeframe than
drill results from the 2020 exploration season. Major changes to the preparation lab by the analytical
lab have decreased wait times substantially but delays do still exist at the analytical lab due to high-
activity and supply chain issues of consumables.
Preparations are underway for winter road construction which will connect our exploration camp,
Burgundy, and the McLymont Fault to the provincial highway system for a usable period of
approximately 3 months of the year. This will allow Enduro to stockpile drilling equipment, timber,
consumable materials, and fuel months ahead of previous exploration programs and at a fraction of
the cost of helicopter transport. It also gives the optionality for mobilizing larger mining equipment, as
well as transporting stockpiled bulk sample material in the event we elect to complete a 10,000-tonne
bulk sample program on one of our high-grade surface targets.
Earlier than expected winter conditions have temporarily suspended exploration drilling until winter
road construction is complete. Snow and freezing conditions started earlier than average this season,
and once an adequate snow base has built up and compacted, we will be able to begin construction
and mobilizing equipment. We are also in the process of designing and building a new water supply
system complete with particulate centrifuges that can deliver fresh water used in the diamond drilling
process that can deliver water adequate for multiple diamond drill rigs from over 3km away allowing
drilling to recommence without having to wait for optimal weather conditions as needed prior.
Attend the Company Webinar
Enduro Metals is scheduled to provide an update on its exploration program, this recent discovery and
future plans during a webinar hosted by Adelaide Capital on Wednesday October 20, 2021, at 2:00pm
EST. The webinar will feature a discussion on today's news release by Cole Evans, President & CEO,
followed by a Q&A session. To register for this event, please use the following link:
https://us02web.zoom.us/webinar/register/WN_0CC3KQR5Qfi69SK4cvqzHg
.
The webinar will also be live-streamed to the Adelaide Capital YouTube Channel:
https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw
and a replay will be made available shortly after the webinar.
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 654km
2
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 436km
2
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 218km
2
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:
https://www.endurometals.com
As a continued effort to keep investors, interested parties and stakeholders updated, we have several
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
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adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning
of applicable Canadian and United States securities legislation (collectively herein referred to as
"forward-looking information").
Such forward looking statements involve known and unknown risks,
uncertainties and other factors that may cause Enduro's actual results, performance or achievements, or
developments in the industry to differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking statements. Forward looking statements
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"expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar
expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document includes statements, but is not limited to results, analyses
and interpretations of exploration and drilling programs; our grassroots exploration program, our mining
(including mining methods), expansion, exploration and development activities, geological and
mineralization interpretations and the plans, results, costs, and timing thereof. Although Enduro believes
the forward-looking information contained in this news release is reasonable based on information
available on the date hereof, by their nature forward-looking statements involve assumptions, known and
unknown risks, uncertainties and other factors which may cause our actual results, performance or
achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks
and uncertainties associated with general economic conditions the effect of a pandemic and particularly
the COVID-19 outbreak as a global pandemic on the Company's business, financial condition and
results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other
essential resources and what effect those impacts, if they occur, would have on our business, financial
condition and results of operations; assumptions regarding expected capital costs, operating costs and
expenditures, production schedules, economic returns and other projections; ; adverse industry events;
future legislative and regulatory developments in the mining sector; the Company's ability to access
sufficient capital from internal and external sources, and/or inability to access sufficient capital on
favorable terms; mining industry and markets in Canada and generally; the ability of Enduro to implement
its business strategies; competition; and other assumptions, risks and uncertainties.
This list is not exhaustive of the factors that may affect any of our forward-looking information. Although
we have attempted to identify important factors that could cause actual results, actions, events,
conditions, performance, or achievements to differ materially from those contained in forward-looking
information, there may be other factors that cause results, actions, events, conditions, performance, or
achievements to differ from those anticipated, estimated or intended.
The forward-looking information contained in this news release represents the expectations of the
company as of the date of this news release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward-looking information and should not rely upon this
information as of any other date. While the Company may elect to, it does not undertake to update this
information at any particular time except as required in accordance with applicable laws.
For US Investors
Enduro Metals cautions that this release has been prepared in accordance with the requirements of the
securities laws in effect in Canada, which differ from the requirements of U.S. securities laws.
Information included in this media release have been prepared in accordance with Canadian National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). NI 43-101 is a rule
developed by the Canadian Securities Administrators which establishes standards for all public
disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian
standards, including NI 43-101, differ significantly from the requirements of the United States Securities
and Exchange Commission (SEC) and information contained herein may not be comparable to similar
information disclosed by U.S. companies.
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