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Re: News Release - Thursday, September 08, 2011
Copper, Rare Earth and Niobium Prospects Discovered Bandito
Property, Yukon
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Endurance Gold Corporation (EDG - TSX.V) is pleased to announce that an
exploration team has now completed the initial summer program of
mapping, soil, and rock sampling on the Bandito Property with
encouraging results. Preliminary analyses have resulted in the
recognition of previously undocumented copper, rare earth, and niobium
prospects. Highlights include:
- Two (2) rare earth element prospects with values up to 2.558% total
rare earth oxides plus yttrium (TREO+Y) with high percentage
neodymium, as well as 2.235% and 1.256% TREO+Y;
- More than ten (10) new niobium prospects over a large area with
analytical results that assayed over 0.25% Nb2O5, and;
- Five (5) new copper-nickel prospects with grab sample values up to
2.53% copper, 1.76% copper, and 8,220 ppm nickel.
Rare Earth Alteration - REE and Niobium Prospects
Summer mapping has defined an alteration system related to the rare
earth, and niobium mineralization that is three (3) kilometers in
strike and about 500 meters in width hosted within Proterozoic-aged
quartzite and clastic sediments (REE Alteration). This REE Alteration
is located immediately adjacent to the contact with the
fluorite-bearing nepheline syenite. The REE Alteration remains open to
expansion along strike in both directions where it disappears under
cover. The nepheline syenite is at least three by two kilometers in
size and is sericite and iron-oxide altered throughout.
Within the REE Alteration, two subparallel prominent trends of
metasomatically altered rocks (Fenites) have been mapped. The North
Fenite trend is steeply north-dipping, has a mapped strike length of at
least 1.1 kilometers, and is up to 160 meters at its widest exposure.
On its northern edge, the North Fenite parallels the nepheline syenite
intrusive but is separated from the intrusive by altered quartzite at
least 50 meters in width.
The South Fenite trend is interpreted to be almost vertical, has an
exposed strike length of at least 1.1 kilometers and varies in width
from 5 to 20 meters. Some of the South Fenite exposures are up to 500
meters south of the nepheline syenite intrusive contact.
Fenite alteration is low-sulphide and multiphase with sodium and
potassium alteration (albite and k-feldspar), sericite, altered sodium
amphiboles, hematite, chlorite, ankerite, fluorite,
tremolite-actinolite, biotite, monazite, zircon, rutile, and numerous
other unidentified minerals.
To date, the best rare earth prospects have been identified on the
interpreted eastern strike extension of the North and South Fenites. On
the North Fenite trend the best result received to date returned 2.558%
TREO+Y over 0.5 meters (with elevated neodymium at 0.254% Nd2O3)
associated with hematite-rich multiphase quartz-kspar-hematite-monazite
Fenite. On the South Fenite, grab samples have returned up to 2.235%
and 1.256% TREO+Y associated with multiphase
albite-quartz-chlorite-ankerite-rutile-monazite Fenite. The average
proportion of heavy rare earth elements (Eu to Lu) to total REE in the
three highest samples received to date is 4 percent. Insufficient
studies have been completed on these samples to identify the minerals
which host the rare earths. Analytical results from sampling of other
possible rare earth prospects are pending.
To date, at least ten (10) new niobium prospects with initial grab
samples exceeding 0.25% Nb2O5 have been identified over an approximate
two kilometer strike length associated primarily with the Fenites and
in one case altered nepheline syenite near the intrusive contact.
Although both the REE and niobium prospects are primarily hosted in
Fenite, the higher value niobium prospects do not directly correlate
with the high rare earth prospects.
Quartz-Sericite-Pyrite Alteration and Copper-Nickel Prospects
Superimposed on the REE Alteration and approximately 400 meters
southeast of the "South Fenite" REE prospect, is a quartz sericite
pyrite stockwork alteration (QSP Alteration) that encompasses a mapped
area of 300 by 300 meters with potential to expand to 1000 by 300
meters based on observations in areas of limited outcrop. The original
pyrite content in the stockwork has been removed by weathering
resulting in a limonite-hematite gossan. All of the nickel and copper
mineral prospects are related to this QSP Alteration.
2011 sampling has confirmed the elevated nickel values reported in the
Company's release of December 21, 2010. This original Bandito nickel
discovery is associated with the southern extension of the QSP
Alteration. About 400 meters north of the original Bandito nickel
discovery, prospecting, sampling and mapping has identified five (5)
previously undocumented copper (nickel) prospects with grab samples
returning up to 1.76% copper, 2.53% copper, and 8,220 ppm nickel. The
five new copper-nickel prospects fall within an approximate 250 by 150
meter area in the QSP Alteration and are evidenced by black "copper
wad" and malachite staining within the QSP Alteration.
Equity Exploration Consultants Ltd (Equity) managed the summer soil and
rock sampling program. Equity is a private, Canadian company
established in 1987, which is focused on providing high quality mineral
exploration services. Henry Awmack P.Eng and Dave Swanton of Equity
managed the exploration program and have reviewed and approved the
technical content of this release.
Next Steps
The summer exploration program has resulted in the collection of 190
rock and chip samples and 1,472 soil samples to date. Only results from
the first 103 rock samples have been received. Additional sampling
results and assays for over-limit niobium values are still pending.
The company is currently planning a follow-up exploration program for
September to further evaluate the best prospects identified to date.
Details of the proposed exploration program will be announced shortly.
Under the terms of the agreement with True North Gems Inc. ("TGX"),
Endurance can earn an initial 51% joint venture interest in the Bandito
property by completing a total of C$125,000 in cash payments by
December 31, 2012 and also completing C$1,000,000 in exploration
expenditures by December 31, 2013. Once Endurance earns its 51%
interest, it has a further option to acquire an additional 24% interest
(total 75%) by issuing TGX 200,000 shares of Endurance and by
completing an additional C$1,000,000 in exploration expenditures prior
to December 31, 2015. Endurance has exceeded its 2010 and 2011 work
requirements.
ENDURANCE GOLD CORPORATION
Per:
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
Grab samples are selective by nature and are unlikely to represent
average grades on the property or within the target areas
All 2011 samples were analyzed at ALS Minerals using the ME-MS81,
ME-AQ81 and OG46 for high copper. For ME-MS81, a prepared sample (0.200
g) is added to lithium metaborate flux (0.90 g), mixed well and fused
in a furnace at 1000�C. The resulting melt is then cooled and dissolved
in 100 mL of 4% HNO3 / 2% HCl solution. This solution is then analyzed
by inductively coupled plasma - mass spectrometry. The lithium
metaborate fusion is not the preferred method for the determination of
base metals, thus the prepared sample was also subject to an aqua regia
digestion (ME-AQ81) and analyzed by inductively coupled plasma --
atomic emission spectroscopy for the reporting of the base metal
values. For ME-OG26, a sample that analyzed over 10,000 ppm copper with
ME-AQ81 is digested in 75% aqua regia for 120 minutes. After cooling,
the resulting solution is diluted to volume (100 mL) with de-ionized
water, mixed and then analyzed by inductively coupled plasma - atomic
emission spectrometry or by atomic absorption spectrometry.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release. This news release may contain forward looking statements
based on assumptions and judgments of management regarding future
events or results that may prove to be inaccurate as a result of
factors beyond its control, and actual results may differ materially
from the expected results.
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Copyright (c) 2011 ENDURANCE GOLD CORPORATION (EDG) All rights
reserved. For more information visit our website at
http://www.endurancegold.com/ or send mailto:info@endurancegold.com
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Endurance Gold Corporation
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EXPLORATEUR |
CODE : EDG.V |
ISIN : CA29267M1086 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Endurance Gold est une société développant des projet miniers d'or basée au Canada. Ses principaux projets en exploration sont CARTER en USA et ANNIE, NATRONA, HUTTON PROJECT, PARKIN, MCCORD GOLD, PARDO, TURNER, BQ, NECHAKO, BANDITO et DOGPAW LAKE au Canada. Endurance Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 15,2 millions CA$ (11,2 millions US$, 10,1 millions €). La valeur de son action a atteint son plus bas niveau récent le 16 janvier 2009 à 0,01 CA$, et son plus haut niveau récent le 15 juillet 2022 à 0,57 CA$. Endurance Gold possède 101 090 000 actions en circulation. |