Drone magnetic survey identifies “Bullseye” magnetic anomaly coinciding with 2.5km long copper and gold anomaly in outcrop.
April 11th, 2023, Kelowna, British Columbia – Enduro Metals Corporation (TSXV: ENDR OTCQB: ENDMF FSE: SOG-FF) (“Enduro Metals” or the “Company”) is pleased to announce the results of its 2022 rock chip sampling program and drone magnetic survey conducted over the North Toe prospect (“North Toe”) on its 100% owned 688km2 Newmont Lake project, located in the heart of British Columbia’s Golden Triangle. The drone magnetic survey identified a “bullseye” magnetic anomaly, which is typical of large copper-gold (“Cu-Au”) porphyry deposits. This anomaly is centered on a 2.5km copper and gold anomaly in outcrop at North Toe, creating a new priority target for future drilling.
Highlights of today’s announcement:
- The drone magnetic survey identified a “Bullseye” geophysical anomaly coincident with a 2.5km long copper and gold anomaly in outcrop.
- Rock chip surface samples returned grades of up to 4.08% Cu and 57.83 g/t Au over an area of 2.5km (see Figure 1).
- North Toe demonstrates significant similarities, such as apparent scale, mineralization style, and structural orientation, to Newcrest’s Red Chris Mine.
The anomaly is ideally located for development, at a low elevation and only 17.6km up valley from the Galore Creek Mine Road.
Cole Evans, CEO of Enduro Metals, comments:
“North Toe is a compelling copper-gold porphyry exploration target that we identified at the tail end of the 2022 exploration season. It has only recently been exposed as a result of glacial retreat and has never previously been tested. We have a 2.5km long copper and gold anomaly coincident with a ‘Bullseye’ geophysical target centered on an area of Fe-carbonate/calcite +- quartz-chalcopyrite stockwork veining identified at surface occurring along a major structural fault, all of which are key ingredients for large copper-gold deposits in northwestern British Columbia.
These results demonstrate the prospectivity of the greater Newmont Lake project area. The porphyry trend extends over an area of 20km, encompassing Burgundy Ridge at the southern end, the 72 Zone, and now North Toe.
Our immediate focus at North Toe in 2023 will be on expanding the geophysical coverage, particularly to the Northwest, and completing detailed mapping and surface sampling to further define our drill targets.”
The North Toe copper-gold porphyry target was discovered during geological prospecting undertaken towards the end of the 2022 exploration season at the Newmont Lake Project. The target is centered on an area of Fe-carbonate/calcite +- quartz-chalcopyrite stockwork veining and porphyry-style alteration typical of alkalic copper-gold porphyry systems. This area, similar in size and sharing features with the Main Zone and East Zone at Newcrest’s Red Chris Mine, is located at the northeastern end of a 20km long porphyry trend, which includes Burgundy Ridge, Telena, and the 72 Zone.
An airborne drone magnetic survey conducted by Pioneer Exploration and HEG Exploration Services Inc. revealed a distinct “bullseye” magnetic anomaly within an area of Fe-carbonate/calcite +- quartz-chalcopyrite stockwork veining.
The target was recently exposed due to glacial retreat, with satellite imagery showing the area under ice in 1988, the last time any major prospecting work was undertaken in this northern quadrant of the Newmont Lake Property.
The target is favourably located for a potential development scenario, as it is located at a low elevation and on the floor of a u-shaped glacial valley, providing easy access to the Galore Creek Mine Road, approximately 17.5km to the northeast.
Mineralization at North Toe
Mineralization identified to date at North Toe is centered around a 300m x 175m area of multi-generation, Fe-carbonate/calcite +- quartz-sulphide stockwork exposed at surface. Minerals identified through visual observation include chalcopyrite, pyrite, chalcocite, bornite and chlorite/epidote.
Rock chip samples collected returned highly anomalous copper and gold assay values along the 2.5km anomaly, with peak results of 4.08% Cu and 57.83 g/t Au. A review of historic Minfile reports also highlighted an area to the northeast, where “quartz stockwork [was] noted over 1km area with pyrite-chalcopyrite-bornite.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 688km2 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, encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems at North Toe, 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
“Cole Evans”
Chief Executive Officer
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Ali Wasiliew – Manager of Communications
Tel: + (236) 420-4050
Email: wasiliew@endurometals.com
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: info@endurometals.com
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Forward-Looking Statements
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