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 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
Kelowna, British Columbia--(Newsfile Corp. - February 9, 2021) -
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.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6406/74016_a3de70abe4aba87e_002full.jpg
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 21
st
, 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.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6406/74016_a3de70abe4aba87e_003full.jpg
"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.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6406/74016_a3de70abe4aba87e_004full.jpg
Hole ID:
From (m)
To (m)
Interval (m)
Gold (g/t)
Silver (g/t)
Copper (%)
AuEq (g/t)
R-07-09
6.86
165.40
156.12
1.72
2.60
0.10
1.89
6.86
93.15
86.29
3.00
4.53
0.16
3.27
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
(uncut)
20.01
75.71
55.70
7.51
8.82
0.08
7.72
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
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
(vectored
15.00
15.50
0.50
13.85
27.89
1.21
15.81
out of
zone)
NW20-
03
15.54
198.06
182.52
0.53
1.06
0.04
0.60
15.54
118.84
103.30
0.70
0.76
0.04
0.76
55.07
56.07
1.00
20.75
4.34
0.46
NW19-
12
67.00
255.00
188.00
1.10
1.15
0.09
1.23
82.00
126.13
44.13
4.04
4.06
0.29
4.48
111.35
112.35
1.00
76.56
11.54
0.47
77.33
NW19-
17
80.24
81.74
1.50
9.33
16.29
0.82
10.63
189.00
207.31
18.31
1.80
0.37
0.04
1.86
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-
09
144.12
172.46
28.34
10.03
2.31
0.36
10.54
159.88
168.73
8.85
31.09
6.54
1.07
32.61
162.45
163.04
0.59
225.30
25.81
4.90
232.20
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.
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6406/74016_a3de70abe4aba87e_005full.jpg
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 638km
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 202km
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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
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
are statements that are not historical facts and are generally, but not always, identified by the words
"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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