EDG: Reports Antimony Assay Composites within Past Results
What you need to know:• EDG re-assayed a total of 199 gold assay composites to include antimony. Antimony intercepts were reported up to 19.20% Sb.
• Antimony prices have been surging, up over 250% in 2024 and recently, domestic supply concerns have arisen amongst China banning exports.
• The 199 re-calculated assays across 108 DDH, 84 RC, and 24 roadcut channel samples resulted in a composite average sampled length of 10.1m and a weighted average grade of 4.55 g/t Au and 0.20% Sb, boosting the gold equivalent grade by ~20% to 4.97 g/t AuEq.
This morning, Endurance Gold Corp. (EDG:TSXV) announced antimony results from the Company’s 100%-owned Reliance Gold Project in B.C. Since 2020, EDG has completed 108 diamond drill holes, 84 RC holes, and 24 roadcut channel samples resulting in the collection of 10,040 samples. Previously, the majority of these samples were only assayed for gold, however, EDG re-calculated a total of 199 gold assay composites to include antimony, resulting in a sizeable boost to the gold equivalent weighted average grade of the composites. We are maintaining our BUY rating and target price of $0.50/share on EDG.
The re-calculation resulted in an impressive composite average sampled length of 10.1m and weighted average grade of 4.55 g/t Au, 0.20% Sb, and 4.97 g/t AuEq (increasing the gold equivalent grade by ~20%). See Figure 1 for a summary of highlight assays with antimony & Figure 2 for a summary of composites by type.
Highlight Assay Composites with Antimony (2020-2024):
• 2020 Eagle1: 4.98 g/t Au & 0.54% Sb over 40.5m (6.14 g/t AuEq) – Surface Channel
• DDH21-003: 4.87 g/t Au & 0.51% Sb over 17.0m (5.96 g/t AuEq) – DDH
• DDH21-020: 15.70 g/t Au & 0.45% Sb over 24.8m (16.66 g/t AuEq) – DDH
• DDH22-036: 7.65 g/t Au & 0.48% Sb over 12.7m (8.69 g/t AuEq) – DDH
• DDH24-091: 2.16 g/t Au & 19.20% Sb over 0.5m (43.50 g/t AuEq) – DDH
The antimony on the project indicates that it occurs as stibnite along elevated gold levels. It is found in various geological formations including cataclastite breccias and quartz-ankerite veins with significant concentrations near surface at the Eagle Zone (for example, an assay composite from Eagle was reported as 5.88 g/t Au and 0.64% Sb over 31.4m (7.26 g/t AuEq)) and deeper intersections across multiple zones. Additional high-grade stibnite mineralization (up to 11.9% Sb and 9.66 g/t Au) has been identified at the undrilled Enigma Showing ~4km northeast of Reliance, prompting plans for further exploration.
Endurance Gold is engaged in the exploration and development of mineral properties in North America and has not yet determined whether its properties contain ore reserves that are economically recoverable. The recoverability of the amounts expended on mineral interests by Co. is dependent upon the existence of economically recoverable reserves, the ability of Co. to obtain necessary financing to complete exploration and development of its mineral properties and upon future profitable production or proceeds from disposition of its mineral interests.
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