EDG: Surface Drilling at Eagle Zone Continues to Impress
What you need to know:• EDG reported assay results at the northern extent of the highly impressive Eagle Zone and the transition to the deeper Crown Zone.
• Today’s drilling intersected stellar high-grade at-surface intercepts (5.15 g/t Au over 21.6m, 6.51 g/t Au over 14.9m, and 6.20 g/t Au over 7.8m)
• The results included nine drill holes totalling 1,084m. The 2024 drill program is now complete for 7,303m drilled.
This morning, Endurance Gold Corp. (EDG:TSXV) announced assay results from the Eagle Zone and Crown Zone at the Reliance Gold Project. Nine holes totalling 1,084m were designed to better define the near-surface northern extent of the Eagle Zone and the transition to the deeper Crown Zone-style mineralization. Of the nine holes, seven returned high-grade intercepts with multiple intercepts per hole. The Eagle Zone, being one of the most well-defined areas on the property, continues to deliver exceptional results. Notably, drill hole DDH24-100 intersected 5.15 g/t Au over 21.6m, including 9.97 g/t Au over 5.9m. The 2024 drill program is now complete for 7,303m drilled across 26 diamond drill holes. We are maintaining our BUY rating and target price of $0.50/share on EDG.
Today’s results prove continued strong mineralization at the northwest end of the Eagle Zone, confirming high-grade at-surface mineralization across a strike length of 550m. The Company now interprets that the near surface Eagle Zone transitions into the steeper dipping, vein-related mineralization in the Crown Zone where mineralization is open to depth. Highlights from today’s results include:
• Eagle Zone: (see page two for full highlights)
o DDH24-100: 5.15 g/t Au over 21.6m, including 9.97 g/t Au over 5.9m
o DDH24-104: 6.51 g/t Au over 14.0m, including 36.3 g/t Au over 1.0m
o DDH24-095: 4.31 g/t Au over 7.1m
o DDH24-098: 6.20 g/t Au over 7.8m, including 10.70 g/t Au over 2.6m
• Crown Zone and Eagle/Crown Transition:
o DDH24-095: 4.15 g/t Au over 7.5m, including 9.11 g/t Au over 1.2m and 13.15 g/t Au over 1.4m
o DDH24-098: 10.49 g/t Au over 2.4m, including 23.40 g/t Au over 0.9m, and 5.84 g/t Au over 8.1m
As stated in today’s release, the Eagle Zone has now been intersected by 40 diamond drill holes across 550m of strike and up to 150m in horizontal width. All intercepts are within 100m of surface and have an impressive weighted average grade of 4.70 g/t Au and an average drill composite length of 15.7m.
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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