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EDG: First 2024 Drill Results: All Holes Intercept High-Grade

What you need to know:
• EDG announced assay results for its first six drill holes as part of its 10,000m 2024 drill program, it has completed 11 holes (3,500m) to date.
• Today’s results confirm high-grade at-depth (~175m vertical) and extends the Imperial Zone ~100m to the northwest along strike (still open).
• Assays for the next five drill holes are expected to be released in mid-October. We look forward to this batch as they are drilled in the undrilled gap between the Eagle and Imperial Zones.

This morning, Endurance Gold Corp. (EDG:TSXV) announced assay results from the first six diamond drill holes completed in the Imperial and Diplomat Zones at its Reliance Gold Project. To date, 11 drill holes have been completed for over 3,500m of the 10,000m 2024 drill program. We are excited by today’s results as they kick off another season of strong drill results from the Reliance Project, with assays rolling out until the new year. We are maintaining our BUY rating and target price of $0.50/share on EDG.

Based on the results reported today, the Imperial Zone has been expanded along strike for over 100m to the northwest where it remains open. In addition, these drill holes also intersected the Diplomat Zone which is now confirmed with several intersections to be a secondary deeper mineralized zone in the footwall and is parallel to the Imperial Zone (Figure 1). Today’s results from these step-out holes indicate that the gold system is still open to expansion along strike and to depth.

Highlights from today’s results include:
• 2.2 g/t Au over 12.1m, including 12.0 g/t over 0.6m and 7.9 g/t over 1.1m
• 5.4 g/t Au over 4.1m, including 11.2 g/t over 1.2m
• 1.9 g/t Au over 12.3m, including 7.5 g/t over 1.0m and 5.1 g/t over 2.0m
• 6.8 g/t Au over 4.3m, including 13.7 g.t over 2.0m
• 3.3 g/t Au over 4.3m
• 4.0 g/t Au over 4.7m, including 6.7 g/t over 1.0m

All six drill holes reported today intersected high-grade over relatively narrow widths. Note that most of these intercepts were at a vertical depth of ~150-200m.

Planned Drilling
Figure 2 highlights the collars for the drill holes reported today, as well as, the five holes that are already completed, DDH24-089 to -093 (assays pending). This next batch of drill results are designed to test the northwest extensions of the Eagle Zone and the undrilled gap between Eagle and Imperial that includes the Crown Zone (Figure 1). We are excited for the release of these results as the Eagle area hosts some of the best results on the property and a further extension along strike and at depth would be meaningful to the size of the potential deposit. These results are expected by mid-October. We remind readers that the 10,000m program (~6,500m of drilling remaining) is fully funded until the end of 2024.

Additional Work
Work continues on the geological model to develop an inaugural mineral resource estimate. The Company is also performing geochemical sampling and prospecting to develop additional targets in the Upper Eagle area as well as advancing surface work to develop drill targets at the Olympic area.