Endomines Finland Plc - Inside information - 18/12/2024, at 11:00 EET
Inside information: Endomines reports further significant exploration results from Kartitsa, Northern Gold Line - Results confirm a long and continuous gold mineralized zone
Endomines has received the final results from the 2155 meter drilling program conducted in the autumn 2024 at Kartitsa, in the northern part of the Karelian Gold Line. The newly published results support the previously obtained results from the area and confirm the area's extremely significant gold potential. The results indicate a gold-bearing zone up to 1500 m in length. In addition, the mineralization is still open towards the north and at depth.
Kartitsa is located approx. 6.5 km north of the Hosko mine and 16.5 km north of the Pampalo mill. In the area there have been two drilling programs this year. Results of the first drilling program were published on the 1st August. There was over 500 meters of unexplored area between the best drill holes, and the second 11 drill hole program, carried out in the autumn this year, was designed to investigate this 500-meter area. Endomines published the first results of the second program on November 28th, 2024. This release contains results of the remaining 6 drill holes over a total distance of 1156 meters, as well as a summary of the gold potential in the Kartitsa area.
Highlights from new results of the autumn 2024 drilling program in Kartitsa:
- Drill hole KA-030 intersected 16.45 meters at 1.22 g/t gold from 144.75 m
- Including 1.15 meters at 5.48 g/t gold from 144.75 m
- Drill hole KA-028 intersected 1.65 meters at 7.11 g/t gold from 113.95 m
- Drill hole KA-025 intersected 0.95 meters at 8.10 g/t gold from 51.30 m
Among the new results KA-030 particularly confirms the continuation of the gold mineralization towards south from the previously announced intercepts (Releases on August 1st, 2024 and November 28th, 2024). According to the drilling results from the Kartitsa area, the gold mineralization continues widely and uniformly for at least 280 meters.
"Our exploration team has truly hit "gold" at Kartitsa. We have identified a high-grade gold mineralization that seems continuous, wide and significant in scale. We expect that we have only scratched the surface at Kartitsa and hence the area will be a clear focus area for us in 2025. We have very high expectations for the future", states the company's CEO Kari Vyhtinen.
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.
Key highlights from the results from the Kartitsa area released during the autumn
- KA-014 intersected 13.05 meters at 2.76 g/t gold from 25.90 m
- Including 2.00 meters at 10.92 g/t gold from 30.08 m.
- 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
- 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
- KA-030 intersected 16.45 meters at 1.22 g/t gold from 144.75 m
- Including 1.15 meters at 5.48 g/t gold from 144.75 m
Based on the results above, KA-014, KA-022, KA-023 and KA-030 intercepts underpin a significant, wide and continuing gold mineralized system with at least 280 m of strike length.
Additionally, significant intersections were achieved towards south from the KA-030 drill hole on the same north-south trend:
- KA-012 intersected 11.40 meters at 1.25 g/t gold from 81.00 m,
- Including 1.10 meters at 3.02 g/t gold from 85.30 m
- KA-015 intersected 8.40 meters at 2.06 g/t gold from 101.95 m,
- including 0.85 meters at 6.39 g/t gold from 104.70 m
- KA-028 intersected 1.65 meters at 7.11 g/t gold from 113.95 m
All the results combined together indicate that the gold mineralized structure is at least 1500 m in length.
Continuation of exploration in the Kartitsa area
The next step in 2025 will be infill drilling in order to define a maiden resource estimate. Further exploration drilling will test the continuations of the gold bearing structures towards North as well as additional targets in the area.
A possible northern extension of the gold mineralized structure was tested with a drill profile including holes KA-025, KA-026 and KA-027 approximately 380 m north of the mineralization described above. Among these, KA-025 intersected 0.95 meters at 8.10 g/t, which confirmed the significant exploration potential of the Northern area. According to preliminary plans, the intention is to further investigate the potential of this area in the future.
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, KA-023 and KA-030 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).
The extent of the gold mineralised system and the strength and size of the associated alteration discovered in 2024 in Kartitsa support the potential for a significant gold deposit.
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?
kari.vyhtinen@endomines.com?
+358 40 585 0050?
Jani Rautio?
Chief 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.?
