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Enduro Discovers New Copper-Gold Porphyry at Newmont Lake; Drill Intersects 331m of 0.71% CuEq Starting at Surface- Including 146m of 1.00% CuEq

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Enduro Discovers New Copper-Gold Porphyry at Newmont Lake; Drill Intersects 331m of 0.71% CuEq Starting at Surface- Including 146m of 1.00% CuEq

 

 

 

 

 

Enduro Metals Corporation (TSX-V: ENDR) (OTCQB: ENDMF) (FSE: SOG) is pleased to report the discovery of a new alkalic porphyry system at Burgundy Ridge on its Newmont Lake project in northwestern British Columbia. BR21-001 intersected 331m of 0.71% CuEq starting at surface, including 146m of 1.00% CuEq from 139m downhole, and 18.27m of 3.00% CuEq from surface. The hole was drilled to test an area with some shallow drill holes and high-grade trenches (reference 2019 press releases) within an extensive geochemical/geophysical anomaly. The drill hole confirms a new copper-gold porphyry discovery in BC’s prolific Golden Triangle.

 

 

Figure 1: Cross-section of discovery hole BR21-001 looking north-northeast. Copper and gold assays are plotted with calculated copper equivalent values. See Table 1 for more details.

 

The surface expression of the Burgundy system is a 2700m x 600m NNE oriented area centred between the KSM-Treaty Creek porphyry camp and the Galore Creek porphyry camp. Burgundy is 1 of 4 major systems, identified thus far, within the Company’s 654 square kilometre Newmont Lake Project.

 

Figure 2: Plan view map of Burgundy displaying TMI Geophysical (Total Magnetic Intensity) data, copper in surface rock geochemistry, areas of completed geological mapping, and areas of ice/snow retreat where no geological map exists to date.

 

Cole Evans, President/CEO of Enduro Metals commented, “This discovery drill hole at Burgundy is a pivotal moment for Enduro and the Newmont Lake projects development, confirming the occurrence of a significant alkalic copper-gold porphyry deposit. This is a true grassroots discovery, and we are at the very beginning of the process.

 

What I find exciting is the transitioning alteration of calc-sodic to calcic and calc-potassic assemblages and also minor amounts of zinc suggesting Burgundy Ridge is on the fringes of a large system, and we likely have not tested the best portions of the porphyry. The combination of grade, size, and accessible location of the discovery makes Burgundy a top-tier copper-gold exploration target, sandwiched between two world-class porphyry camps at Galore Creek and KSM.”

 

 

Hole ID: From To Interval Gold (g/t) Copper (%) Zinc (%) Silver (g/t) CuEq (%)
BR21-001 5.47 336.90 331.43 0.35 0.29 0.49 5.5 0.71
5.47 23.74 18.27 1.33 1.05 2.91 21.6 3.00
138.22 344.80 206.58 0.43 0.35 0.42 8.3 0.81
138.22 284.02 145.80 0.55 0.42 0.53 8.2 1.00

 

Table 1: Reported assay intervals for BR21-001. Metal prices used in CuEq calculations are as follows: Gold $1670/oz, Silver $21.50/oz, Copper $4.10/lb, and Zinc $1.38/lb. The CuEq formula used for calculations is: CuEq % = (Cu ppm + ((Au ppm * $53.85) / $0.009038960) + ((Ag ppm * $0.69) / $0.009038960) + ((Zn ppm * $0.003042382) / $0.009038960)) / 10,000. True widths are unknown as the mineralized body remains open and requires further drill testing. Recoveries are assumed to be 100% for the purposes of equivalent calculations. Full assay data is available at www.endurometals.com.

 

Figure 3: Cross-section of BR21-001 displaying calculated copper equivalent (CuEq) values, and bar charts for each reported interval displaying percent contribution per metal selected for CuEq calculations. See Table 1 for more details or download full assay sheets at www.endurometals.com (available soon).

 

Figure 4: Representative drill core from 6.43m to 7.65m in BR21-001 assaying 1.73% Cu, 2.17 g/t Au, 4.31% Zn, and 37.49 g/t Ag over 1.22m downhole. The “Green Rock Breccia” is a hydrothermal breccia cemented with sphalerite, chalcopyrite, and pyrite. Significantly, an earlier stage mineralization event is observed in the form of disseminated chalcopyrite constrained within the K-feldspar and hematite altered pinky-red clasts. This serves as an indication that an earlier mineralizing event is nearby.

 

 

Figure 5: Representative drill core from 207.80m to 209.02m in BR21-001 assaying 1.05% Cu, 1.13 g/t Au, 2.06 g/t Ag, and 0.03% Zn over 1.22m downhole. The zone consists of a brecciated fine grained syenite porphyry infilled with biotite-calcite-hematite-diopside-actinolite. Mineralization consists of chalcopyrite-pyrite.

 

Figure 6: Representative drill core from 221.29m to 222.33m in BR21-001 assaying 1.61% Cu, 1.90 g/t Au, 2.13% Zn, and 30.8 g/t Ag over 1.04m. Alteration consists of pervasive biotite-actinolite-tremolite alteration of a black siltstone. Mineralization is dominated by chalcopyrite with lesser sphalerite and minor pyrite.

 

Exploration Update from the CEO

 

Further results are pending from Burgundy, McLymont Fault, and the Chachi Corridor from 2021 diamond drilling. We anticipate results will be available to shareholders in a shorter timeframe than drill results from the 2020 exploration season. Major changes to the preparation lab by the analytical lab have decreased wait times substantially but delays do still exist at the analytical lab due to high-activity and supply chain issues of consumables.

 

Preparations are underway for winter road construction which will connect our exploration camp, Burgundy, and the McLymont Fault to the provincial highway system for a usable period of approximately 3 months of the year. This will allow Enduro to stockpile drilling equipment, timber, consumable materials, and fuel months ahead of previous exploration programs and at a fraction of the cost of helicopter transport. It also gives the optionality for mobilizing larger mining equipment, as well as transporting stockpiled bulk sample material in the event we elect to complete a 10,000-tonne bulk sample program on one of our high-grade surface targets.

 

Earlier than expected winter conditions have temporarily suspended exploration drilling until winter road construction is complete. Snow and freezing conditions started earlier than average this season, and once an adequate snow base has built up and compacted, we will be able to begin construction and mobilizing equipment. We are also in the process of designing and building a new water supply system complete with particulate centrifuges that can deliver fresh water used in the diamond drilling process that can deliver water adequate for multiple diamond drill rigs from over 3km away allowing drilling to recommence without having to wait for optimal weather conditions as needed prior.

 

QAQC / Analytical Procedures

 

Core 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-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 Corp 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.

 

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 654km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to acquire 436km2 from Romios Gold Resources who has carefully amalgamated the area since 2005 from numerous smaller operators. Remaining terms on the option agreement are a $1,000,000 CAD cash payment, and issuance of 4 million Common Shares to Romios Gold Resources. Romios will retain a 2% Net Smelter Returns Royalty on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the original boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR. The remaining 218km2 is owned 100% by Enduro and was acquired via staking or cash purchase. 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, 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.

 

Posted October 18, 2021

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