EDG: Final Drill Results of 2023 Reaffirm Investment Thesis
What you need to know:• EDG reported assay results for the last seven diamond drill holes of the 2023 drill campaign from the Eagle and Crown Zones.
• The highlight intercept was 5.80 g/t Au over 23.0m for 133.4 g x m.
• The 2023 drill program has concluded with 5,301m completed across 22 drill holes.
• Compiling the 2023 drill data, we have updated our internally generated resource estimate to 901 Koz at 5.10 g/t Au.
This morning, Endurance Gold Corp. (EDG:TSXV) announced the final set of assay results for the 2023 drilling season. The results were for the final seven holes drilled at the Eagle and Crown Zones, returning high-grade intersections, notably 5.80 g/t Au over 23.0m, including 8.52 g/t Au over 12.7m and five high-grade vein intercepts, one with visible gold. With the 2023 drill program complete across 5,301m in 22 drill holes, we are updating our internally generated resource estimate from the previous 663 Koz at 5.14 g/t Au to 901 Koz at 5.10 g/t Au. We are maintaining our BUY rating and target price of $0.50/share on EDG.
Highlights from today’s release include:
• Hole-076 returned 5.80 g/t Au over 23.0m, including 8.52 g/t Au over 12.7m from the Eagle Zone
• Hole-078 returned five vein intercepts from the Crown Zone, 8.05 g/t Au over 1.4m, 9.67 g/t over 1.2m (Visible Gold), 5.80 g/t over 2.1m, 9.46 g/t over 2.0m, and 6.56 g/t over 2.5m.
The results that were reported today continue to support the wide and high-grade intersections seen at the Eagle Zone and we are bullish on a more substantial drill campaign in 2024.
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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