Enduro Intersects Mineralization in Multiple Drill Holes Confirming New Porphyry Discovery at Burgundy Ridge
Enduro Intersects Mineralization in Multiple
Drill Holes Confirming New Porphyry
Discovery at Burgundy Ridge
Kelowna, British Columbia--(Newsfile Corp. - February 7, 2022) -
Enduro Metals Corporation
(TSXV:
ENDR
) (
OTCQB:
ENDMF
) (
FSE:
SOG
)
("
Enduro Metals
" or the "
Company
") is pleased to report
additional 2021 diamond drilling results which further confirms the discovery of an important alkalic
copper/gold porphyry discovery at Burgundy Ridge. Burgundy is 1 of 4 major systems on the Company's
wholly-owned 653 km
2
Newmont Lake project in the Golden Triangle of northwestern British Columbia.
Results from the other 3 zones on the property are still being accumulated and collated.
Highlights
Newly received assays include:
BR21-03 which intersected
257m of 0.50% CuEq from surface
, including
43m of 1.39% CuEq
at surface
.
BR21-04 intersected
84m of 0.72% CuEq from 57m
downhole
.
The drill hole was also
successful in identifying another high-grade mineralization style including
6.63% CuEq over
3.00m at 136m
downhole.
Due to early winter conditions, the drill hole stopped short of target
depth while in mineralization.
These assay results expand on discovery hole BR21- 01 which intersected
331m of 0.71% CuEq
from surface
, including
18m of 3.00% CuEq at surface
, and
146m of 1.00% CuEq at 138m
downhole, and
1.80m of 7.30% CuEq at 218.6m
(see News Release dated October 18
th
, 2021).
ST21-01 intersected
2.17% Cu and 27.07 g/t Ag over 9.37m from 15.92m
downhole, including
7.20% Cu and 87.77 g/t Ag over 2.00m
. These results were drilled 2.3km NE of Burgundy Ridge
and support additional copper potential across the entire Burgundy system.
Results from the latest holes support the discovery of a porphyry copper/gold deposit first announced on
October 18
th
, 2021 (see News Release dated October 18
th
, 2021).
Alteration, mineralization style, and
metal assay grades suggest that we are on the periphery of a porphyry system. Enduro continues to
evaluate drill core and other data to help vector toward the core of this mineral deposit.
Figure 1:
Cross-section looking W-NW of 2021 drill fan at Burgundy Ridge discovery. All drill holes
on section were drilled at a -45 dip.
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Cole Evans, President/CEO of Enduro Metals commented
,
"Our 2021 drill results from the drill fan
at Burgundy Ridge provide compelling evidence of a new silica-undersaturated alkalic porphyry
discovery centred between two of BC's most prolific porphyry camps. This type of porphyry is rare
globally, and the cryptic alteration style of alkalic porphyries make them difficult to find. Critical to our
success moving forward is the work our technical team has done in developing early understandings
of the geological complexities of this system, which we feel closely resembles the neighbouring
Galore Creek deposit located 30km arc-parallel from Burgundy to the northwest.
The three most encouraging features about Burgundy include the large scale of the system, the
evidence for multiple mineralizing events, and the fact that we are right at the beginning of the
discovery phase. The minimum target area so far is 300m wide by at least 1,200m long. Enduro's drill
results are the only exploration record to date and are still very shallow tests for porphyry exploration.
The alteration footprint of Burgundy is consistent with a big porphyry deposit, and only more drilling
will tell us what we are sitting on."
Figure 2:
Plan view map displaying all diamond drill hole assay results to date defining 500m strike
length of consistent copper/gold mineralization (open in both directions). The vertical elevation
change between BR19-01 drill pad and BR21-01 drill pad is ~100m. The Company believes 2019
drilling drilled overtop of the main mineralized body indicating that steeper and deeper drilling has
potential to intersect the main mineralized body as seen in 2021 drilling.
To view an enhanced version of this graphic, please visit:
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Figure 3:
Plan view map displaying significant surface results to date at Burgundy Ridge. A
combination of drilling and surface sampling shows a consistently mineralized 500m long zone that
remains open along strike in both directions and at depth.
To view an enhanced version of this graphic, please visit:
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Figure 4:
Simplified geological model of Burgundy Ridge looking north-northeast. This simplified
cross-section model is subject to change as more information is acquired.
To view an enhanced version of this graphic, please visit:
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Hole ID:
From
To
Interval
Gold
(g/t)
Copper
(%)
Zinc
(%)
Silver
(g/t)
CuEq
(%)
BR21-01
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
218.59
220.39
1.80
3.93
3.48
4.33
84.73
7.30
BR21-02
Drilled to test geological contact of limestone. Sporadic results include:
New
8.66
9.16
0.50
1.50
1.32
4.11
29.1
3.62
117.00
119.00
2.00
0.06
0.02
4.65
17.4
N/A
127.75
128.97
1.22
0.46
0.86
1.49
8.2
1.66
BR21-03
3.00
259.50
256.50
0.26
0.21
0.31
3.9
0.50
New
3.00
45.93
42.93
0.62
0.56
1.31
5.8
1.39
151.20
213.07
61.87
0.41
0.29
0.14
4.26
0.61
BR21-04
57.70
209.00
151.30
0.21
0.27
0.13
3.5
0.47
New
57.70
141.56
83.86
0.35
0.42
0.16
5.35
0.72
136.22
139.22
3.00
2.69
4.75
0.35
20.9
6.63
Drill hole did not reach target depth due to early winter conditions.
ST21-01
15.92
25.29
9.37
0.02
2.17
N/A
27.07
N/A
New
20.76
22.76
2.00
0.04
7.20
N/A
87.77
N/A
Table 1:
Reported assay intervals for BR21-01, 02, 03, and 04. 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) / $0.003042382)) / 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
Geological Discussion
The geology of Burgundy Ridge is generally described as a series of porphyritic to megacrystic intrusive
rocks intruding a calcareous sedimentary sequence adjacent to a 150m - 200m thick limestone horizon.
The geology is thought to be moderately dipping west-northwest, but more information is required.
Geochronological work on Burgundy was undertaken during the winter of 2020/2021 suggesting intrusive
rocks to be coeval with the Galore Creek Suite, which also matches visual interpretations. The host
rocks are believed to be Stikine or early Stuhini suite, but more information is required.
The Company contracted the expertise of GeoAqua Consultants led by Dr. Alan Wilson during the 2021
field season to identify and begin characterizing various hydrothermal alteration assemblages at
Burgundy Ridge which are as follows: calc-potassic, calcic, calc-sodic, silicification, propylitic, illite, and
Fe-carbonate. Further alteration studies are on-going.
Mineralization at Burgundy Ridge is seen in various forms including replacement, disseminated,
endoskarns, exoskarns, and a total of 4 uniquely identified mineralized hydrothermal breccias referred to
by distinguishable mineral characteristics of respective hydrothermal cements as follows: 1.
Chalcopyrite-cemented, 2. Shreddy biotite-cemented, 3. Sphalerite-cemented, 4. Calcite-cemented.
These terms are used for classification and are not precise descriptions of the entire nature of each
hydrothermal breccia cement. The chalcopyrite and biotite dominant breccias are seen in the calcic to
calc-potassic environments whereas the sphalerite and calcite-cemented breccias (referred to as
Breccia A and Breccia B in Figure's 6 & 7) are observed immediately adjacent to the calc-potassic
environment proximal to the western contact of the limestone body. It is possible that Breccia A and B
are one large breccia body, but further drilling is required to delineate this relationship.
Structural geology of Burgundy is not well understood, but it is generally thought structures strike
northeast and dip northwest.
Figure 5:
Visual example of "replacement-style" mineralization typical of silica-undersaturated alkalic
porphyry systems. Sulphide mineralization is characterized by chalcopyrite, pyrite, and sphalerite.
This sample assayed 1.80m of 3.48% Cu, 3.93 g/t Au, 84.73 g/t Ag, and 4.33% Zn starting at 218.6m
downhole in BR21-01.
To view an enhanced version of this graphic, please visit:
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Figure 6:
Visual example of "Breccia A" characterized as a heterolithic hydrothermal breccia with a
sulphide dominant cement of sphalerite, chalcopyrite, and pyrite. Clasts within the hydrothermal
breccia vary in sulphide replacement intensity and phase. It is noted that the larger, more dominant
syenitic clasts host what is thought to be "hypogene" chalcopyrite mineralization, indicating that
"Breccia A" is a separate mineralizing event which post-dates a "main-stage" mineralizing event. This
sample assayed 0.96m of 2.68% Cu, 3.47 g/t Au, 63.26 g/t Ag, and 8.75% Zn starting at 8.53m
downhole in BR21-01.
To view an enhanced version of this graphic, please visit:
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Figure 7:
Visual example of "Breccia B" characterized as a heterolithic hydrothermal breccia
cemented by calcite, chlorite, sphalerite, chalcopyrite, pyrite, and minor galena. Clasts within the
hydrothermal breccia vary from argillic sediments to syenitic intrusions (not visible in photo example).
"Breccia B" is located on the eastern contact of the Burgundy Ridge limestone with syenitic and
volcanic rocks. This sample assayed 0.83m of 1.54% Cu, 0.29 g/t Au, 56.9 g/t Ag, 5.08% Zn, and
0.88% Pb at 358m downhole in BR19-10. The relationship between Breccia A and B are currently
unknown.
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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 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 has completed the earn-in under an option agreemnt and now holds
a 100% interest (subject only to a royalty on a portion of the property) in 653 square kilometres. 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
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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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