September 21st, 2022, Kelowna, British Columbia – Enduro Metals Corporation (TSXV: ENDR OTC: SIOCF FSE: SOG-FF) (“Enduro Metals” or the “Company”) is pleased to announce that it has completed the 2022 drill program on the Company’s 100%-owned Newmont Lake Project, located in the centre of British Columbia’s prolific Golden Triangle. A total of 10,888 metres of diamond drilling has been completed over 25 drill holes.
The 2022 drilling campaign focused on expanding the mineralized footprint of the Burgundy Ridge copper-gold porphyry target, following 2021’s discovery hole (331m of 0.71% CuEq from surface, including 146m of 1.00% CuEq – see October 18th, 2021, Enduro news release). A total of 20 diamond drill holes have been completed at Burgundy Ridge during the 2022 season. An additional 5 diamond drill holes were completed at the McLymont West target along the McLymont Fault Gold Mineralization Zone (see Figure 1a and Figure1b).
2022 Exploration Program Highlights
- Logging of drill core from Burgundy Ridge identified wide zones of sulphide mineralization including chalcopyrite, bornite and chalcocite in several drill holes.
- Visual inspection of the core shows a strong correlation to the large chargeable geophysical anomaly identified using induced polarization geophysics (see March 9th, 2022, Enduro news release).
- Maiden drilling further west along the McLymont Fault Gold Zone target has shown that the area has been subject to intense hydrothermal activity, with multiple zones of quartz veining and sulphide mineralization visible in core.
Cole Evans, President/CEO of Enduro Metals commented, “We are thrilled to report that our team has completed the largest drill program undertaken at the Newmont Lake project. Given the scale of the property, the number of exploration targets, and the cost of exploration in the Golden Triangle, a decision was taken to concentrate the 2022 exploration budget on expanding the mineralized footprint of the Burgundy Ridge copper-gold porphyry discovery which I believe has the potential to be a Tier 1 mineral deposit. In addition to drilling at Burgundy Ridge, we put 5 holes into the McLymont West target within the McLymont Fault Gold Zone. I am encouraged by what I have seen in the drill core from both areas and look forward to receiving assays later in 2022”.
Enduro also completed drone magnetic geophysical surveying, geological mapping, and extensive channel sampling across several other areas of interest to maintain a steady pipeline of high priority targets at the Newmont Lake project.
The 2022 exploration program was built on the results of 2021, when Enduro drill tested several targets including Burgundy Ridge, 72 Zone, NW Zone, Havana, and Chachi (see Enduro’s news releases on October 18th, 2021, February 7th, 2022, and July 11th, 2021, for all results which returned economic mineralized intersections). All 2021 assays have been received and will be made available, along with historic results, via a downloadable database at https://endurometals.com/.
Exploration targets that were also explored in 2022 include:
- Chachi – the Company’s focus on Chachi has moved to the Southwest Ridge following drilling of the geophysical anomaly during 2021 which assisted in identifying a large 2,500m x 750m copper-gold anomaly further south of the drilled area. The Southwest Ridge anomaly is now the largest copper and gold in soil anomaly encountered on the Newmont Lake property to date, and shares similarities with the Burgundy System.
- North Toe – Geological prospecting of the North Toe zone has identified an area of quartz-chalcopyrite stockwork veining and encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems. The area is of comparable scale, and along strike of the Burgundy system. Similar to the work completed at Southwest Ridge, North Toe has strong similarities to the Burgundy copper-gold porphyry system, underlining a potential geological pattern of multiple porphyry centres within the Company’s 688km2 land package.
- NW Zone – Data interpretation is ongoing at the NW Zone to investigate further size and extent of the potentially expansive system. Drilling in 2022 has focused on the greater McLymont Fault Gold zone expanding the mineralized footprint of the system.
- Ken Zone – Mineralization and alteration indicative of an alkalic porphyry system has been encountered on surface through geological prospecting and planning is underway for potential future drilling.
Details of Property Expansion
The Company is also pleased to announce that it has acquired 100% interest in an additional 35km2 of mineral claims via staking on the eastern portion of the Newmont Lake Project, increasing the total land package to 688km2 (see Figure 2).
Dylan Hunko, COO of Enduro Metals commented, “We are very pleased with the 2022 exploration season and with the real progress Enduro has made advancing the targets at Burgundy Ridge and the McLymont Fault Gold Zone. We successfully increased drilling efficiency and materially reduced our drilling cost per meter by moving our exploration base to the drive-in staging area at the Coast Mountain Hydroelectric Facility, on the southern margin of the property. We will endeavour to continue safe and cost-effective exploration as we advance the Burgundy Ridge copper gold porphyry target and work up our other prospective areas on the Newmont Lake Property.”
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”
President/CEO
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: info@endurometals.com
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Forward-Looking Statements
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.
The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
