EDG: Successful Initial Work on the Olympic Claims
What you need to know:• EDG reported prospective soil sample results from the Olympic Claims of its Reliance Gold Project.
• The Company collected 19 rock grab samples of which five assayed greater than 5.5 g/t Au with the best results including 25.1 g/t Au and 22.3 g/t Au.
• This release highlights to investors the significant exploration upside beyond the Royal Shear.
This morning, Endurance Gold Corp. (EDG:TSXV) announced positive results from its prospecting and soil sampling surveys performed on the Olympic Claims of its Reliance Gold Project. In 2023, the Company collected 893 grid and contour soil samples at the Olympics claims where the early stage 2022 exploration program identified a sizeable geochemical anomaly. The 2023 survey has materially expanded the original geochemical anomaly to a 1.8km strike length and identified two additional surficial geochemical anomalies with strike lengths of 650m and 500m (Figures 1 & 2). For context, these three anomalies are larger in combined surface area than the geochemical anomaly associated with the 2020 Eagle Zone discovery (which currently makes up ~80% of our internal resource estimate of 901Koz at the Reliance Gold Project).
We view today’s release as a positive development as it is another step towards EDG unlocking multiple additional gold zones similar to that at the Royal Shear and ultimately uncovering a potential multi-million ounce “Epizonal” Orogenic gold camp. We are maintaining our BUY rating and target price of $0.50/share on EDG.
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.
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.