Kelowna, British Columbia--(Newsfile Corp. - March 9, 2022) - Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) ("Enduro Metals" or the "Company") is pleased to report a large chargeable geophysical anomaly has been identified using induced polarization (IP) geophysics at Burgundy Ridge Zone on its 100%-owned Newmont Lake Project, located in NW British Columbia's Golden Triangle. Where intersected, the chargeable anomaly correlates with copper and gold mineralization intersected at Burgundy Ridge to date. The results of this survey provide further strong evidence of a large copper-gold porphyry system underlying current drilling at Burgundy.
News Release Explainer: Enduro Metals' CEO Mr. Cole Evans provides audio explainer on what this news release means for the Company.
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The reconnaissance survey line that detected the anomaly is located approximately 350m north-northeast of multiple significant assays results from diamond drilling in 2021 such as BR21-01 which intersected 331m of 0.71% CuEq starting at surface, including 146m of 1.00% CuEq (see Oct. 18th, 2021 and Feb. 7th, 2022 news releases). Induced polarization is a well-established geophysical method for porphyry exploration globally, and a correlation between mineralization and chargeability is common.
Figure 1: Chargeability cross-section from a reconnaissance IP survey at Burgundy Ridge. The survey detected a large chargeable anomaly within the refined Exploration Target Area (see February 7th, 2022 news release) which appears to correlate with copper and gold mineralization seen in drilling to date. A smaller secondary target also appears to correlate with a chalcopyrite-cemented hydrothermal breccia intersected in exploratory drilling.
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Cole Evans, President/CEO of Enduro Metals commented, "Simply stated, copper and gold bearing minerals found in porphyry deposits often form in a way that result in the ground holding an electrical charge, similar to how the battery in your car will hold an electrical charge. Often the more chargeable the ground is, the more disseminated copper and gold bearing minerals are in the ground. Our limited drilling to date supports this relationship, which puts us in a position to plan a much more aggressive drill program in 2022.
"The approximate scale, geometry, and orientation of this anomaly is highly coincident with the neighbouring Galore Creek deposit as seen in Figure 3. This is yet another layer of evidence suggesting Burgundy to be an undiscovered look-alike system of Galore Creek. The anomaly is also located directly within the refined exploration target we hypothesized a few months using ongoing alteration studies, geochemistry, and a basic understanding of Burgundy's structural geology."
Figure 2: Plan view map illustrating the location of the primary chargeability anomaly relative to drilling completed to-date at Burgundy Ridge. Note the chargeable anomaly is located within the main exploration target zone believed to be >1,200m in strike length. Additional drill testing is required.
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Additional technical press releases including more drilling results are anticipated for other locations on the Newmont Lake Project shortly.
Figure 3: Primary chargeable target at Burgundy Ridge depicted adjacent to a cross-section of the North Gold Lens at Galore Creek at the same scale. Note that this comparison is made only for comparative purposes. Further drilling is required to test most of the anomaly.
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QAQC / Analytical Procedures
Core samples from the Newmont Lake Project were sent to MSALABS' 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 MSALABS' analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-221 (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 48 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 copper, 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 five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
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 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
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Sean Kingsley - Director of Communications
Tel: +1 (604) 440-8474
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This news release contains statements that constitute "forward-looking statements". Within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as "forward-looking information"). 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.
Forward-looking statements in this document includes statements , but is not limited to: results, analyses and interpretations of exploration and drilling programs; our grassroots exploration program, our mining (including mining methods), expansion, exploration and development activities, , geological and mineralization interpretations and the plans, results, costs and timing there of 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.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions the effect of a pandemic and particularly the COVID-19 outbreak as a global pandemic on the Company's business, financial condition and results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, financial condition and results of operations; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; ; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Enduro to implement its business strategies; competition; and other assumptions, risks and uncertainties.
This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance or achievements to differ from those anticipated, estimated or intended.
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.
For US Investors
Enduro Metals cautions that this release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Information included in this media release have been prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (SEC) and information contained herein may not be comparable to similar information disclosed by U.S. companies.
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