VANCOUVER, British Columbia, Nov. 15, 2022 (GLOBE NEWSWIRE) — Endurance Gold Corporation (TSXV:EDG) (OTCPink:ENDGF) (FSE:3EG) has reported additional assay results from the ongoing diamond drilling program at its Reliance Gold Property in southern British Columbia. With year-round road access, the Reliance Gold Property is located 4 kilometres east of the village of Gold Bridge and 10 kilometres north of the historic Bralorne-Pioneer Gold Mining Camp, which has produced more than 4 million ounces of gold.
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In 2022, the company completed a total of 38 diamond drill holes for 8,274 metres and 33 reverse circulation holes for 2,455 metres, which were designed to extend the strike of the mineralized system angf with video commentfd to test the extent of mineralized feeder structures below the shallow-dipping, near-surface Eagle Zone.
Today’s assay results are from 6 diamond drill holes completed in the Eagle Area, which confirm a 400 metre strike potential of the Eagle South Feeder Zone. Highlights of today’s results include Hole DDH22-044 which returned 4.95 gpt gold over 12.1 metres including 12.55 gpt gold over 4.3 m, along with 3.52 gpt gold over 4.0 m from a second deeper structure.
Hole DDH22-042 returned 2.99 gpt gold over 12.0 m including 7.35 gpt gold over 4.3 m from an Eagle South Feeder structure in a 250 m step-out to the northwest from hole DDH21-020 which previously reported 15.7 gpt gold over 24.8 m. Other intersections within the northwest extension of the Eagle South Feeder Zone include Hole DDH22-040 with 2.08 gpt gold over 13.3 m including 8.85 gpt gold over 2.6 m, and Hole DDH22-039 with two significant intersections of 1.58 gpt gold over 13.3m including 6.37 gpt gold over 1.5 m and a deeper intersection of 0.78 gpt gold over 15.1 m.
As reported in August, drilling within the Eagle South Feeder Zone identified multiple quartz vein zones with estimated horizonal widths ranging from 5 to 52 metres. The most significant veins with associated mineralization to date are the 024, 037, and 027 Veins, which exhibit a pervasive crackle breccia texture with gold-arsenopyrite mineralization concentrated in more intense cataclastite brecciation along the quartz vein margins.
The Eagle South Feeder Zone is bound by the shallower dipping Eagle Zone to the northeast and the steeply dipping Royal Shear Fault to the southwest. The area of deformation related to this target area is open along strike and to depth below the southwest dipping Royal Shear Fault.
The company has a number of other highly prospective North American mineral properties which management considers have the potential to develop world-class deposits.
The company recently closed an over-subscribed non-brokered private placement, raising gross proceeds of approximately $2,039,000 from the placement of $0.42 units.
The shares are trading at $0.385. For more information, please visit the company’s website, www.EnduranceGold.com, contact Robert T. Boyd, President and CEO, at 604-682-2707 or by email at [email protected].
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