Kelowna, British Columbia – July 25, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) (“Enduro Metals” or the “Company”) is pleased to announce that it has commenced its fully-funded 2022 exploration program at its Newmont Lake Project in British Columbia’s Golden Triangle.
The primary objective of the 2022 exploration program will be to expand the mineralised footprint of the alkalic porphyry system discovered at Burgundy Ridge during 2021 (331m of 0.71% CuEq discovery hole – see October 18th, 2021 news release). The secondary objective will be to follow up on the geochemical sampling program at McLymont Fault and extend the potential mineralised footprint from 700m to 5,500m (see July 11th, 2022 new release).
VIDEO: Watch Enduro’s Chief Operating Officer Dylan Hunko on Enduro Commencing its 2022 Drilling Season
Burgundy Ridge Project
A two-rig diamond drill program has commenced to test the extent of copper and gold mineralization along a 1,200m strike length. Multiple drill locations are currently being prepared, with the first drill rig having commenced operations, and a second rig due to start imminently.
The program has been designed to zone in on the centre of the porphyry system which is believed to lie to the north east of the discovery hole and test approximately 1,200m of the 2,700m system. Drilling is designed to test mineralization significantly deeper than previously drilled at Burgundy Ridge, given porphyries form as vertically oriented deposits up to kilometres in vertical and horizontal scale.
Figure 1: Plan view and cross section views illustrating proposed 2022 drilling locations planned to test up to 1,200m of strike length from discovery drill hole BRDDH21-01 which intersected 331m of 0.71% CuEq starting at surface (see October 18th, 2021 news release).
At the McLymont Fault project, a detailed exploration program is being finalized to follow up on 2021’s geochemical soil sampling program.
It is currently expected that one of the two rigs currently drilling at Burgundy Ridge will move to test the newly identified zone and follow up on drill hole GSC88-1 drilled in 1988 which interested 73.40g/t Au, 12.5g/t Ag and 0.13% Cu over 0.60m.
If successful, this would increase the footprint of the McLymont Fault mineralised system to 5,500m, comparable to the very large bulk-tonnage style gold deposits neighbouring the Newmont Lake Property (ex. KSM, Treaty Creek).
Cole Evans, President, CEO & Director, commented,
“The company is in a fortunate position to be fully funded for its 2022 exploration program following the C$10m private placement undertaken in May.
Burgundy represents a top-tier porphyry exploration target, and we are looking forward to a very exciting year with a greater understanding of the scale and significance of this mineralized system which shows many similarities to Galore Creek, some 35km to our north west.
While Burgundy is truly exciting, we must not forget that we have an excellent project in the McLymont Fault. The results of the recent geochemical sampling program suggest that we have a gold-rich project which has the size and scale needed to be economic in the Golden Triangle.
I would like to extend our thanks to the entire field team whose combined efforts have allowed us to commence drilling earlier than ever before on the property despite the fact that the snow base has been substantially higher than average.”
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 654km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy & 72 Zones, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
For further information please contact:
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
As a continued effort to keep investors, interested parties and stakeholders updated, we have several communication initiatives. If you have any questions online (Twitter, Facebook, LinkedIn, or Instagram) feel free to send direct messages or a post and include the hashtag #askENDR.
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This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Enduro’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Although Enduro believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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