Enduro Metals Corporation Announces 2024 Diamond Drilling Program at Newmont Lake
Enduro Metals Corporation Announces 2024
Diamond Drilling Program at Newmont Lake
Kelowna, British Columbia--(Newsfile Corp. - August 21, 2024) -
Enduro Metals Corporation
(TSXV:
ENDR) (OTCQB: ENDMF) (FSE: SOG0) ("
Enduro Metals
" or the "
Company
") is pleased to provide
an update on its 2024 summer exploration program on its 100% owned Newmont Lake Project.
The Company's 2024 exploration program will focus on two key objectives:
1
.
Oriented-core diamond drilling at McLymont to test the structural controls on gold-bearing quartz-
carbonate veins that carry the highest-grade gold and copper material drilled to-date in the area.
2
.
Further exploration of copper-gold porphyry targets along the Copper-Line, particularly at North
Toe (see Enduro news release November 29
th
, 2023).
McLymont Fault
The McLymont Fault will be the primary focus of the Company's exploration efforts in 2024. The greater
than 20km long geological feature is prospective for high-grade gold and porphyry deposits of varying
styles. Last December, Seabridge Gold discovered the upper part of a new porphyry with intermediate
sulfidation epithermal mineralization at the southwest end of the McLymont corridor, highlighted by 277m
of 0.80 g/t Au near the Enduro/Seabridge Gold property boundary (See Seabridge Gold news release
December 14
th
, 2023).
Cole Evans, CEO of Enduro Metals commented,
"There are multiple styles of gold mineralization
along the McLymont Fault, and our technical team, supported by third party review, has developed a
new structural interpretation we believe may be the most important control for gold mineralization that
will lend to building a high-grade gold and copper resource at McLymont.
Drilling will be conducted in the opposite direction compared to historical work using precise, oriented-
core diamond drilling methods. The objectives are to first test areas near zones of known gold
mineralization and correlate sub-surface structures with those mapped on surface. This will be
followed by down-dip drill testing of these zones in areas previously never drilled. The aim of the
program is to help us understand the pathways gold has moved through at McLymont which is
characterized by a >3km surface gold anomaly with similar geological characteristics to Cominco's
past-producing Snip Mine located 20km to the southwest along the McLymont structural corridor."
Figure 1:
Cross-section of Pad 1 with 2 holes striking 120 degrees and dipping -45 and -75 into
interpreted, NW-dipping mineralized structures. Holes are planned to an estimated total length of
300m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6406/220628_b8be1758c477fbf0_002full.jpg
Most historic drilling on the Newmont Lake property was done on the McLymont Fault. The main target
was the NW Zone which has a historic mineral estimate based on 16,992m of diamond drilling
completed between 1987-1990 by Gulf Minerals.
Three different gold mineralization styles have been identified within the McLymont Fault: i) skarn, ii)
epithermal, and iii) porphyry-like mineralization. Enduro's geological model has high-grade gold skarn
near-surface, with gold being fed by underlying high-grade epithermal feeder veins sourced from an
ultimate porphyry source.
Highlights of recent drilling completed by the Company on the McLymont Fault include:
Hole NW20-09 which intercepted 10.03g/t Au, 2.31g/t Ag and 0.36% Cu over 28.34m, including
31.09g/t Au, 6.54g/t Ag and 1.07% Cu over 8.85m;
Hole NW20-01 which intercepted 19.44g/t Au, 25.29g/t Ag and 1.32% Cu over 2.12m; and
Hole NW19-12 which intercepted 1.10g/t Au, 1.15g/t Ag and 0.09% Cu over 188.00m, including
4.04g/t Au, 4.06g/t Ag and 0.29% Cu over 44.13m.
A table of significant assay results from drilling on the project prior to its acquisition by the Company is
set out in Annex 1.
The 2024 program is designed to explore gold bearing structures intersecting lithology previously
thought to be the primary ore control.
The structural interpretation is based on a third-party review of
mineralization at the NW Zone. The analysis included orientated drill core and structural mapping
undertaken during the summer of 2023.
2024's program will combine relogging of historic drill core,
detailed surface mapping, and a highly targeted drill program to identify structures hosting the
chalcopyrite-pyrite bearing quartz-carbonate veins with the highest gold grades in the known
mineralization. The drill program is planned to be up to 2,000m of orientated diamond drilling from 2 drill
pads.
Figure 2:
Cross-section of Pad 2 with 2 holes striking 120 degrees and dipping -45 and -60 into
interpreted, NW-dipping mineralized structures. Holes are planned to an estimated total length of
500m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6406/220628_b8be1758c477fbf0_003full.jpg
Copper-Gold Porphyry Target Generation
Enduro will also continue to explore and advance other Copper-Gold porphyry targets across the wider
Newmont Lake property. The main targets include North Toe / Big Toe along the Copper-Line (see
Enduro news release May 24
th
, 2023). A combination of geophysics, bedrock sampling, channel
sampling, and mapping will be used to enhance our understanding of these areas and develop drill
targets for future exploration campaigns.
The North Toe target is a newly exposed zone uncovered by recent glacial retreat. Geological
prospecting in 2022 identified an area of quartz-chalcopyrite stockwork veining and encouraging
porphyry-style alteration typical of alkalic copper-gold porphyry systems showing zones of potassic
alteration in association with quartz-magnetite-chalcopyrite+/-bornite stockwork veining on surface.
Surface rock chip samples collected in 2022 from the target returned grades of up to 4.08% Cu and
57.83 g/t Au over an area of 2.5km. In 2023, detailed mapping was completed to identify the host
intrusion and identify structural controls on mineralization. Rock samples from this campaign returned up
to 0.78% copper and 0.21g/t gold. Additionally, 240-line km of drone magnetics were flown over the
target with data emphasizing the structural importance of the area. North Toe is of comparable scale,
and along strike of the Burgundy system with an ideal location for development, at low elevation and only
17.6km up valley from the Galore Creek Mine Road.
Figure 3:
Plan view map of detailed mapping area highlighting planned channel sample over
mineralized monzonite networks where samples assayed B0017861: 0.31% Cu, 0.64 ppm Au, and
B0017858; 0.78% Cu, 0.21 ppm Au.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6406/220628_b8be1758c477fbf0_004full.jpg
Personnel will begin mobilization to Newmont Lake imminently and further information will be provided
as groundwork begins.
The Company also wishes to advise that Deborah Cotter has resigned as Company Secretary of the
Company.
The role of Company Secretary will be assumed by Malcolm Davidson, the Company's Chief
Financial Officer.
The Board wishes to thank Ms Cotter for her services to the Company and wishes her
the best in her future endeavours.
About Enduro Metals
Enduro Metals is an exploration company focused on its Newmont Lake Project; a total 688km2 property
located between Eskay Creek, Snip, and Galore Creek within the heart of British Columbia's Golden
Triangle. Building on prior results, the Company's geological team have outlined multiple 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, newly discovered
copper-gold porphyry mineralization at North Toe, and a large 10km 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"
Chief Executive Officer
For further information please contact:
Ali Wasiliew - Manager of Communications
Tel: + (236) 420-4050
Email:
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.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". 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.
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.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Annex 1:
Significant Historic Drill Results Completed on the McLymont Gold Project Prior to
the Acquisition of the Newmont Lake Property by the Company
Hole ID
From (m)
To (m)
Length (m)
Gold (g/t)
Silver (g/t)
Copper (%)
NW87-15
5.60
8.40
2.80
14.4
14.4
0.32
NW87-25
104.50
110.30
5.80
19.96
4.91
0.29
NW87-25
143.30
144.40
1.10
52.11
6.86
0.42
NW87-29
66.70
68.60
1.90
277.46
191.42
2.13
NW88-21
157.80
161.50
3.70
13.66
1.70
0.08
NW88-28
65.20
69.80
4.60
28.57
10.00
0.41
NW88-28
79.40
84.30
4.90
22.32
9.20
0.24
NW88-31
30.30
33.30
3.00
21.26
28.00
0.29
NW88-32
95.20
96.20
1.00
48.69
4.80
0.21
NW88-35
39.30
41.40
2.10
121.76
61.71
0.58
NW89-01
77.80
79.90
2.10
52.28
29.88
2.29
NW89-05
12.80
14.60
1.80
24.65
14.06
0.24
NW89-06
27.30
29.60
2.30
13.56
5.56
0.44
NW89-09
27.50
32.50
5.00
8.41
23.79
0.79
NW89-11
66.40
72.80
6.40
26.39
60.54
0.57
NW89-18
25.60
28.10
2.50
17.01
28.57
0.46
NW89-19
66.80
68.00
1.20
32.71
78.34
0.96
NW89-22
4.90
7.60
2.70
18.83
11.09
0.32
NW89-23
24.30
26.60
2.30
25.11
13.97
0.27
NW89-25
70.50
73.20
2.70
15.89
17.10
0.19
NW89-29
7.90
9.90
2.00
34.61
38.92
0.46
NW89-51
15.90
16.30
0.40
277.00
4.11
0.32
NW89-66
157.90
158.50
0.60
39.02
0.35
0.11
NW90-01
59.40
61.30
1.90
16.07
165.82
0.09
NW90-01
63.20
66.40
3.20
39.29
0.20
0.12
NW90-02
50.10
50.90
0.80
40.01
-
0.0100
NW90-02
76.80
81.70
4.90
22.09
-
0.0100
NW90-17
113.10
114.80
1.70
28.39
0.39
17700
NW90-18
104.40
106.40
2.00
363.24
-
0.010
NW90-26
32.60
35.40
2.80
25.06
-
0.010
NW90-27
15.20
16.20
1.00
31.89
-
0.010
NW90-30
24.10
25.60
1.50
28.94
-
0.010
NW90-31
10.10
10.80
0.70
113.93
-
0.010
R-07-09
13.72
16.76
3.04
19.71
12.6
0.45
R-07-09
26.61
28.96
2.35
27.32
9.96
0.46
R-08-07
25.25
27.13
1.88
179.14
109.28
0.19
R-08-11
137.22
138.44
1.22
51.7
33.7
0.50
To view the source version of this press release, please visit
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