Endomines Finland Plc - Inside information - 28/11/2024, at 9:15 EET
Inside information: Endomines reports excellent gold discoveries from Kartitsa, Northern Gold Line - Results confirm the area's exceptional gold potential
Endomines reports results from the drilling program conducted in autumn 2024 at Kartitsa, Northern part of the Karelian Gold Line. The newly published results confirm the area's extremely significant gold potential. The results indicate a long and continuous gold-bearing zone. In addition, the mineralization is still open towards North, South and at depth.
The program carried out in the autumn consisted of 11 drill holes for a total of 2155 meters. Endomines has received analytical results for 5 drill holes for a total of 999 meters. The results from two drill holes were excellent: Drill hole KA-022 intersected 23.35 meters at 1.98 g/t gold and the drill hole KA-023 intersected 21.50 meters at 1.94 g/t gold. Both interceptions included remarkable gold grades: 17.6-22.2 g/t. The results indicate a gold mineralization of at least 160 meters in length.
"The extent of the gold mineralised system and the strength and size of the associated alteration discovered, support the potential for a significant gold deposit", says company's Chief Geologist Jani Rautio.
Highlights of the autumn 2024 Kartitsa drilling program:
- Drill hole KA-022 intersected 23.35 meters at 1.98 g/t gold from 133.10 m
- Including 5.70 meters at 6.08 g/t gold from 146.60 m
- Including 1.00 meters at 22.13 g/t gold from 151.30 m
- Drill hole KA-023 intersected 21.50 meters at 1.94 g/t gold from 95.05 m
- including 1.00 meters at 17.56 g/t gold from 103.00 m
- Including 1.80 meters at 6.68 g/t gold from 110.90
The intersections from the drilling program at Kartitsa are presented in Appendix 1, and the locations of the new drill holes are shown on the map in Appendix 2.
The new drill holes confirm the results of the summer drilling program
On August 1, 2024, Endomines reported the results of drilling program conducted in Kartitsa, according to which hole KA-014 contained 2.76 g/t of gold over 13.05 meters, and hole KA-015 contained 2.06 g/t of gold over 8.40 meters. There was over 500 meters of unexplored area between these drill holes. The current drilling program was designed to map this 500-meter area. The results obtained from the area suggest that gold mineralization extends at least 160 meters south from the high-grade gold intercept reported in August (KA-014), directly towards another significant intercept located 500 meters away (KA-015).
"Based on the results obtained, we believe that we have discovered a significant gold deposit. The results from the area, obtained both this fall and earlier in the summer, suggest that the gold mineralization in Kartitsa is both continuous and contains very high gold grades. With these results, Kartitsa is becoming a clear focus area for our exploration team. I can't wait what the future holds for us," states the company's CEO Kari Vyhtinen.
Geology of Kartitsa
The gold mineralization discovered in Kartitsa occurs as a pyrite/pyrrhotite +- magnetite assemblage within strongly altered (potassic alteration) volcanic and sedimentary rocks overlying the Kartitsa intrusive. The strong potassic alteration in the area proximal to the Kartitsa intrusive consists in microcline, biotite, and sericite while the pervasive distal alteration observed through all the holes drilled in the area consists in sericite only.
The gold mineralization discovered in KA-014, KA-022 and KA-023 occurs as a pyrite/pyrrhotite assemblage within thoroughly albitised and carbonate-altered mafic volcanic. The highest gold grades are observed within or proximal to sections of the mafic volcanic rocks exhibiting intense potassic alteration (biotite and microcline).
Drilling technology and quality assurance
All surface drilling has been carried out by Northdrill Oy, using WL-76 tubes, resulting in core of 57.5 mm in diameter. Drill hole locations have been surveyed by using mine survey equipment. Downhole survey of bearing and dip deviations have been completed with DeviGyro survey tool. All core has been oriented with DeviCore-equipment.
The drill cores have been logged by Endomines' personnel. The drill cores have been cut in half by Palsatech Oy in Sodankylä prior to shipping to Labtium laboratory in Sodankylä. Samples were sent to Eurofins Labtium laboratory in Sodankylä for preparation and analysis of 705P (Gold), and 304PM1 (multi-element). When deemed necessary by laboratory (when adequate fusion of the sample was not achieved) gold was assayed with 703P or 704P methods.
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
Endomines Finland Plc
kari.vyhtinen@endomines.com
+358 40 585 0050
Jani Rautio
Head Geologist
Endomines Finland Plc
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.
