Endomines Finland Plc - Inside information - 20/9/2024, at 11:30 EEST
Inside information: Endomines reports exploration results from Hosko, the Northern Gold line, and commences drilling program in Kartitsa
Endomines reports results from the exploration drilling program carried out in the summer 2024 at Hosko, Northern Gold Line. The program consisted of 23 drill holes for a total of 2905 meters. The program was aimed to test the distribution and the continuity of high gold grade mineralisation within the 1.2 km long gold bearing Hosko trend.
The highlighted results confirm that Endomines has discovered two new high-grade areas near the recently opened mine of Hosko. In addition, all the drill holes in the program intersected gold grades above the reporting cut-off (0.4 g/t).
The high-grade areas now discovered from the Hosko area are located 100 and 1000 meters north of the Hosko mine. These high-grade areas require further follow-up work to assess their potential for mining.
Highlights of the Hosko summer 2024 drilling program:
- Drill hole HOS-125 intersected 4.85 meters at 5.01 g/t gold from 36.80 m.
- Drill hole HOS-123 intersected 5.70 meters at 2.96 g/t gold from 95.4 m, including 1.80 meters at 8.35 g/t gold from 96.50 m.
- Drill hole HOS-115 intersected 2.30 meters at 6.10 g/t gold from 82.45 m.
- Drill hole HOS-126 intersected 1.10 meters at 11.10 g/t gold from 81.00 m.
The drill intersections from the Hosko 2024 drilling program are presented in Attachment 1 and the locations of the new drill holes are presented in the map in Attachment 2.
A new drilling program starts in Kartitsa
Endomines has decided to start a drilling program in Kartitsa, which is located 6.5 km north of the Hosko mine. On August 1, 2024, Endomines reported results from drillings made in the area, according to which hole KA-014 encountered 2.76 g/t of gold over 13.05 meters and hole KA-015 encountered 2.06 g/t of gold over a distance of 8.40 meters. The purpose of the drillings now being started is to follow up on these results.
Endomines is currently also conducting drilling aimed at expanding mineral resources in Kuittila, on the Southern Gold Line. These drillings will continue at the same time as the now starting Kartitsa drilling program. So far, 17 holes have been drilled in Kuittila, with a total length of 3295 meters.
"Finding new high-grade areas in Hosko, confirms our belief in the region's high gold potential. We believe that Hosko will become a long-lasting cornerstone of our gold production. The first research results from Kartitsa which were published in August, were so promising that we decided to immediately initiate a new drilling program in the area. Between the best gold intersections in the area, there is an approximately 500-meter unexplored area, which we will now focus on. This, combined with the extensive drilling program aimed at increasing gold resources on the Southern Gold Line, ensures that the end of the year will be a very busy and interesting period in exploration," says CEO of Endomines Kari Vyhtinen.
Geology of Hosko
The reported drilling program successfully intercepted the quartz-tourmaline breccia down-plunge from already known intercepts, thus confirming the plunge continuity of the gold bearing breccia. The spatial distribution of high-grade gold material within the quartz-tourmaline breccia is still being investigated. In particular the structural control of the newly identified breccia pipes is being assessed. The gold bearing mineralisation presents itself as sulphide bearing quartz-tourmaline breccias hosted within strongly sheared sericitized sedimentary rocks.
Drilling technology and quality assurance
All surface drilling has been carried out by KDC Oy, using WL-66 tubes, resulting in a core of 50.5 mm in diameter. Drill hole locations have been surveyed by using mine survey equipment. A downhole survey of bearing and dip deviations has been completed with the SPT GyroMaster survey tool. All cores have been oriented with SPT CoreMaster equipment.
The drill cores have been logged by Endomines' personnel. The drill cores have been cut in half by Palsatech Oy in Kemi and Sodankylä prior to shipping to the CRS Laboratories Oy in Kempele, Finland. The sample procedure used at the laboratory was MPC's PAL1000 PULVERISE AND LEACH machine with AAS finishing. The used sample size was 500 g of crushed core.
Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards, blanks and duplicates routinely submitted as part of the sampling program. The quality of sample preparation, security integrity and chemical assays was equal to, or exceeded, current industrial standards and the requirements of the JORC-code.
This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person in compliance with the Fennoscandian Association for Metals and Mining Professionals, FAMMP, -standards. Jani Rautio is a full-time employee of Endomines and owns 2,000 shares in Endomines.
Further information
Kari Vyhtinen
CEO
kari.vyhtinen@endomines.com
+358 40 585 0050
Jani Rautio
Head Geologist
jani.rautio@endomines.com
+358 50 593 0812
Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal is to grow the Karelian gold line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.
The Karelian Gold Line is 40 kilometers long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometers northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. The Pampalo mine has produced 200,000 ounces of gold at an average grade of 3.6 g/t. Endomines controls extensively exploration rights across the Karelian Gold Line.
