June 22nd, 2020, Kelowna, British Columbia – Enduro Metals Corporation (TSXV: ENDR OTC: SIOCF FSE: SOG-FF) (“Enduro” or the “Company”) is pleased to report additional copper, gold, silver, zinc, and lead mineralization and the first high-grade gold mineralization intersected from its maiden diamond drill program that tested 3 target areas at Burgundy Ridge; an area within the greater Burgundy Trend of the Company’s Newmont Lake Property in the Golden Triangle of northwest British Columbia, Canada.
This is the first in a series of planned news releases reporting assay results and ongoing geological and geophysical 3D modelling of multiple systems across the Company’s Newmont Lake Project. Subsequent technical news releases will focus on providing further geological and geophysical information outlining system connectivity and the regional project wide potential prior to our 2020 exploration programs.
Green Rock Zone
Diamond drill hole BR19-16 is the only hole to date targeting the Green Rock breccia which was discovered late in the 2019 season where receding snow and ice allowed additional mapping. Mineralization encountered 260 meters below and 75m offset from a high-grade surface trench taken at the same time included:
51.38m of 0.46% Cu, 1.22% Zn, 0.17 g/t Au, 9.98 g/t Ag, and 0.16% Pb starting at 343.66m, including 30.33 metres of 0.64% Cu, 2.00% Zn, 0.25 g/t Au, 13.57 g/t Ag, and 0.25% Pb
The drill interval demonstrates mineralization extends under areas of receding ice and snow with significant depth potential. Green Rock was identified as an area of interest in September 2019 from mineralization in the previously announced trench sample BRCH19-01 that cut a continuous interval assaying:
37.00m of 1.31% Cu, 2.97% Zn, 1.49 g/t Au, and 23.26 g/t Ag, including 22.00m of 2.00% Cu, 4.69% Zn, 2.27 g/t Au, and 34.36 g/t Ag
Evidence at the Green Rock zone suggests a minimum of 3 mineralizing events in the area and is characteristic of high-grade hydrothermal breccias seen in large alkalic porphyry-type deposits. Clasts within the hydrothermal cement include k-feldspar and hematite altered syenites hosting disseminated and stockwork chalcopyrite. This is further evidence for alkalic porphyry hypogene mineralization underneath Burgundy Ridge pre-dating the multi-stage Green Rock breccia. BR19-16 is also the first evidence of lead in the Green Rock breccia with individual grades as high as 3.58% Pb, 1.01% Cu, 2.80% Zn, 0.21 g/t Au, and 47.48 g/t Ag over 1.16m starting at 351.35m.
Figure 1: A’-A section of Green Rock Zone on the southern edge of Burgundy Ridge. Evidence suggests the potential for a large, high-grade, multi-element breccia; a critical component of alkalic porphyry systems.
Diamond drill hole BR19-13 drilled 250 metres north of Green Rock intersected an interval of 184.67m of 0.21% Cu, 0.14 g/t Au, 3.70 g/t Ag, and 0.17% Zn starting at surface with grades as high as 8.98% Cu, 2.36% Zn, 0.62 g/t Au, 35.97 g/t Ag. Mineralization consists of disseminated and vein-hosted chalcopyrite locally weathering to chalcocite/malachite near-surface in “skarn-like” alteration and lithology. Intervals of high-grade mineralization are locally massive chalcopyrite with disseminated and vein-hosted chalcopyrite, sphalerite, and pyrite thought to be distal offshoots of Green Rock breccia mineralization.
BR19-13 is located 200m SSW from previously announced BR19-02 which intersected 91.26m of 0.38% Cu, 0.30 g/t Au, and 4.12 g/t Ag starting at 36.67m. Ridge Zone drilling outlines skarn-style mineralization over a 600m strike length and is open in both strike directions and at depth.
Figure 2: Plan view image of Burgundy Ridge and Telena displaying diamond drill holes and trench orientations with assays. Rock photos show new surface discoveries immediately north of Burgundy Ridge from receding ice. See Figure 5 and 6 for more details.
Ridge West Zone
Diamond drill hole BR19-04 intersected 1.50m of 15.05 g/t Au and 4.03 g/t Ag starting at 149.00m depth. These are the first signs of a potential high-grade gold system adjacent to the current target area and is the second of two targets which were intersected underneath receding ice and snow. Little is known about the high-grade gold mineralization at this time.
Further drilling at Ridge West successfully intersected what are thought to be additional offshoots of the Green Rock breccia more than 400m away from the theorized epicentre. Grades as high as 1.00m of 6.70% Cu and 55.9 g/t Ag within 2.60m of 3.64% Cu and 32.32 g/t Ag were encountered at 262.35m.
Diamond drill hole BR19-04 intersected strong k-feldspar alteration within a narrow syenite dyke haloed by strong biotite alteration of the host volcanic rock averaging 0.41 g/t Au, 1.64 g/t Ag, and 0.07% Cu in the final 23.00m of the 438.00m deep diamond drill hole. Localized biotite alteration graded as high as 1.74 g/t Au, 5.04 g/t Ag, and 0.09% Cu over 4.6m. The drill hole was unable to continue due to logistical constraints, but casing and the drill pad remain in place for re-entrance. This intersection provides important geological data for vectoring into the centre of alkalic porphyry mineralization at Burgundy Ridge.
Cole Evans, Enduro’s CEO commented: “Drilling from the maiden diamond drill program at Burgundy Ridge is shallow and minimal relative to the size of the property and the scale of alkalic copper-gold porphyry deposits that we are modeling and targeting at Burgundy. Strong surface and near surface mineralization with alteration intersected thus far confirm the presence of well mineralized alkalic porphyry systems along the 2.3km Burgundy Trend. Our results indicate geological similarities to alkalic porphyry deposits like Cadia/Ridgeway, North Parkes, Galore Creek, Red Chris, Mt. Milligan, and Mt. Polley.
Part of what makes alkalic porphyry deposits rare worldwide is the time and difficulty of exploring for them. Our team has already demonstrated its ability to find significant mineralization without any geophysical aids to date, and to execute our work programs under challenging conditions in the area. I am happy with the progress so far at Burgundy and the results we are seeing warrant further exploration. Future work at Burgundy will focus on vectoring into the centres of our alkalic porphyry mineralization.”
Geological Discussion and Photo Gallery
The 2019 maiden diamond drill program intersected mineralization in 9 of 10 diamond drill holes characterizing several different mineralization styles and associated elements. The following is a brief geological discussion. In-depth details will be outlined in a series of upcoming technical presentations for Newmont Lake.
Most of the mineralization drilled thus far is adjacent to the Stikine volcanic limestone contact providing a significant skarn component to mineralization to date. Higher grade intercepts appear to be “off-shoots” of a heterolithic, hydrothermal breccia cemented by chalcopyrite, pyrite, and sphalerite with significant localized biotite alteration (see Figure 3). Intercepts of this style were observed in 9 of 10 drill holes at Burgundy Ridge of varying widths. It is hypothesized this well-mineralized breccia is sourcing in the vicinity of the Green Rock area. Clasts within the hydrothermal breccia are indicative of k-feldspar and/or hematite altered syenites that can host disseminated chalcopyrite or fine chalcopyrite stockwork. Burgundy Ridge consists of a suite of porphyritic, trachytic, and megacrystic syenites striking ~SSW dipping 55 to 75 NE. They intrude what appears to be an earlier pseudoleucite-phyric phase. A >1.0km wide epidote-garnet +/- diopside breccia dominates most of Burgundy Ridge.
Figure 3: Example of strong biotite alteration associated with hydrothermal breccia mineralization cemented with chalcopyrite, pyrite, and sphalerite at 144.86m depth in BR19-16 (9th of 9 diamond drill holes completed at Burgundy Ridge to date) Note k-feldspar altered syenite clasts within the hydrothermal breccia are indicators of a potassic zone at depth.
Figure 4: K-feldspar altered rock with chalcopyrite stockwork adjacent to the Green Rock hydrothermal breccia grading 0.46% Cu, 0.53 g/t Au, 10.33 g/t Ag, and 0.32% Zn over 7.00m on surface. Potassic alteration pre-dates the hydrothermal breccia. Zinc content is associated with crosscutting veins of the Green Rock breccia. Winter conditions shut down trench sampling and mineralization remains open.
New surface discoveries in 2019 highlight additional areas of interest immediately north of Burgundy Ridge. Mineralized megacrystic to porphyritic syenites have been observed on surface for the first time resulting from receding snow and ice in the area (see Figure 4 and 5).
Diamond drill hole BR19-04 intersected strong k-feldspar alteration within a narrow syenite dyke haloed by strong biotite alteration of the host volcanic rock averaging 0.41 g/t Au, 1.64 g/t Ag, and 0.07% Cu in the final 23.00m of the 438.00m deep diamond drill hole. Localized biotite alteration graded as high as 1.74 g/t Au, 5.04 g/t Ag, and 0.09% Cu over 4.6m. This intercept has great technical significance as it is the first sign of biotite/k-feldspar alteration that is not associated with hydrothermal breccia activity and could be considered typical hypogene mineralization expected in alkalic porphyry deposits.
In conclusion, the early evidence to date suggests Burgundy Ridge shares many features of a large, silica-undersaturated, alkalic porphyry system with similar geological characteristics to both Newmont/Teck’s Galore Creek Project located 35km northwest, and Imperial Metals’ Mt. Polley Mine located in British Columbia’s central interior 400km north of Vancouver, Canada. The Company is currently studying geochronology and paragenetic relationships at the University of British Columbia Okanagan’s FiLTER Laboratory (Fipke Laboratory for Trace Element Research) in Kelowna, Canada.
Figure 5: K-feldspar and hematite altered syenite hosting disseminated chalcopyrite and chalcopyrite-bearing veinlets observed on surface 600m north of Burgundy Ridge at Rock Island I.
Figure 6: Chalcopyrite with minor bornite mineralization described as miarolitic cavity infill of a K-feldspar and hematite altered megacrystic syenite observed 300m north of Burgundy Ridge at Rock Island II.
Table 1: Summary of drill results from Newmont Lake’s Burgundy Ridge 2019 with collar information.
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., President 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 a junior Canadian mining exploration company focused on exploration and development of the 551 km2 Newmont Lake Property in the Golden Triangle of northwest British Columbia, Canada. The Company has an option to earn a 100% interest in the Newmont Lake Project, which is one of the largest land packages in the Golden Triangle.
On Behalf of the Board of Directors,
ENDURO METALS CORP.
Chief Executive Officer
For further information please contact:
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Please note the visualizations are selected images highlighting strong visual mineralization and alteration from a variety of new showings and recent diamond drill core and are not necessarily representative of the entire area. The reader should also note that while relative spatial information is provided, mineralization is not necessary representative of space between any given location and it should not be assumed that lateral continuity exists. All deposit comparisons are for deposit model purposes and the mineralization hosted on these nearby or adjacent properties is not necessarily indicative of mineralization hosted on the Company’s property. The reader is encouraged to exercise caution, due their due diligence, and determine their own conclusions with the information provided.
QAQC/ Analytical Procedures
Rock samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-121 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 53 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Enduro Metals conducts its own QA/QC program where three standard reference material pulps, two blank reference material samples are inserted for every 100 samples when analyzing rock samples.
Soil samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-757. Soil samples were dried and screened to 80 mesh, discard plus fraction. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where they were analyzed for 51 elements using IMS-131 for samples with 20g or greater and IMS-130 for samples between 0.5g and 20g.
Enduro Metals conducts its own QA/QC program where three standard reference material pulps, two blank reference material pulps are inserted for every 100 samples when analyzing soil samples.
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.