Kelowna, British Columbia--(Newsfile Corp. - July 21, 2021) - Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) ("Enduro Metals" or the "Company") announces that the first diamond drill rig is now drilling on the Newmont Lake property in the heart of BC's prolific Golden Triangle. A second drill rig will be added in early August. The planned "base case" drill program is 10,000 metres, with potential to expand. Enduro recently upgraded its on-site infrastructure to enable a prolonged exploration season.
The Company is presently conducting its initial drilling at Chachi with several other targets to be drilled this season.
Enduro's CEO Cole Evans stated: "There are several high-quality untested targets across our large land package providing multiple paths to a major discovery. We are delighted to be back on the ground and drilling again and excited to build on what we have learned over the past three years. We are optimistic that we will see exciting results from this season's drilling."
CHACHI CORRIDOR
The Chachi Corridor represents a multi-element system endowed in copper, silver, gold, lead, zinc, nickel, and cobalt which was discovered by Enduro in 2019. This extensive system, spanning more than 5 kilometers, has characteristics of multiple deposit types, including alkalic porphyry, epithermal, skarn and possibly Iron-Oxide Copper Gold ("IOCG") ore deposits. Intrusions are of the same age as the nearby Galore Creek deposit, which is being advanced by a joint venture between Newmont Corporation and Teck Resources Limited.
This initial drilling will involve 6 holes from 3 separate drill pads, with targets selected based on:
- High-grade copper-silver on surface (including rock samples with 5.3% copper/36 g/t silver and 2.7% copper/301 g/t silver);
- Induced polarization ("IP") geophysic chargeability responses;
- Proximity to a regional structural feature; and
- Widespread alteration.
The holes are intended to track the high-grade values from surface and will provide the first sub-surface information in the Chachi Central Zone (CCZ).
Cole's Notes Episode 2: 'Enduro's Drill Program Commences' - Enduro's 2021 Video Series: https://youtu.be/DtgpiupNxXk
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BURGUNDY/72 ZONE
An important focus this year will be drilling the Burgundy/72 region, 13km west of the Chachi Corridor. A first-pass drill program in 2019 intersected mineralization in several shallow holes including 91m of 0.38% Cu and 0.30 g/t Au starting at 36m downhole. Late in the 2019 season, a trench 400 metres south cut 1.3% Cu, 1.5 g/t Au, 23 g/t Ag, and 3% Zn over 37m with the mineralized zone remaining open.
Another mineralized zone 2.3km to the northeast is now being further investigated using advanced hyperspectral techniques to vector within the extensive zone of alteration and mineralization. This area is being explored as an alkalic porphyry target. Previous drill results include 22m of 0.89% Cu, 0.71 g/t Au, 0.26 g/t Pd, and 6.6 g/t Ag within a broader mineralized interval.
Work over the winter by the Charles Fipke Centre for Innovative Research at University of British Columbia (Okanagan) dated intrusive rocks in this area as coeval to the Galore Creek.
Surface work presently underway will fine-tune target locations for drilling this season, with the objective of confirming the presence of a large-scale copper-gold alkalic porphyry system.
CUBA ZONE
The Cuba zone is characterized by a 4km long trend of silver-lead-zinc-copper mineralization, characterized as both carbonate replacement and epithermal-type systems. The Havana target, identified by Enduro last year, is located at the northern end of the previously outlined trend. A sample from one of the quartz-barite veins in the Havana Zone assayed 1,277 g/t silver, 4.51% copper, 1.11% zinc, and 0.21% lead. An IP geophysical survey line over the target identified an anomaly coincident with the surface geochemical anomaly.
The initial two drill holes will test the area of coincident geochem and the IP chargeability high.
McLYMONT FAULT
The McLymont Fault was the focus of much of the previous historic and Enduro's latest work in this area, including outlining a gold-copper resource at the NW Zone. Work by Enduro has outlined gold mineralization along 20 km of the fault zone in the McLymont Fault area. Enduro's drilling has extended the historic NW Zone along strike and to depth and has identified parallel mineralized features. Enduro's drill results outside of the previously identified mineralized area includes drill hole NW20-09 in the Northeast Extension which intersected 31 g/t Au and 1.07% Cu over 8.8 metres.
Further drilling this year will continue to expand on the known extent of the main mineralized zones and aim to test a potential underlying porphyry system.
Specifically, 2021 drilling will:
- Test the deeper extent of porphyry style mineralization encountered in 2020 drilling.
- Expand on initial Troy Vein discovery (32.5 g/t Au and 1.07% Cu over 8.9 m).
- Test satellite high-grade gold trends along the greater McLymont Fault Corridor.
Camp, Infrastructure and Access Upgrades
The airstrip has just been extended to allow access for larger aircraft. The camp is being upgraded to allow for exploration work to continue later in the winter season. Surveying work is underway to establish an improved winter road into the Newmont Lake Camp, which will allow bulk supplies to be brought in on surface.
Diamond Drilling
Drilling services for the 2021 drill program are being provided by HELM Diamond Drilling Ltd. ("HELM"), 100% indigenous owned and operated by Alan McPherson, a Tahltan Nation member and Devlin Luck, a Mi'kmaq Nation member. McPherson and his team carried out Enduro's last two seasons of drilling and have over 35 years collective experience drilling other projects in the district.
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 638km2 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 436km2 from Romios Gold Resources who has carefully consolidated the area since 2005. 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: info@endurometals.com
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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