Kelowna, British Columbia–(Newsfile Corp. – February 1, 2024) – Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMD) (FSE: SOG0) (“enduro” or “company“) is pleased to provide an update on the company and an overview of its 2024 exploration plans.
- Enduro’s exploration program for 2024 will be planned with a view to attracting partners willing to invest capital to advance our projects.
- Drilling in 2024 will focus on the McClymont Gold Project, building on historic resources and testing new structural concepts developed during 2023.
- At Burgundy Ridge, the company aims to expand the system’s footprint and delineate new drilling targets.
- In the North Tow, the Company is considering drilling targets for future drilling and aims to expand the system’s footprint to the southwest of the area known as the Big Tow.
CEO Cole Evans commented: ”2023 was ultimately a disappointing year for enduro. The company was unable to convert its letter of intent announced in August with a major mining company into a final agreement. As a result, we undertook a smaller exploration program than planned. We are determined to protect shareholder value by ensuring that our shareholders retain meaningful exposure to the upside potential of this exceptional real estate position. 688km point2, this asset remains one of the largest assets owned by a junior mining company in the Golden Triangle, and our understanding of the Copper Line has advanced significantly. There is a high level of interest among major mining companies who want to secure their interests in the Golden Triangle. The region is rapidly emerging as an important mining region in the world.
“Our strategy for 2024 is focused on restoring value for our shareholders.Given the current market conditions, the key targets we have identified to date, in particular Norstow and Burgundy, these objectives are: It has the potential scale to attract the attention of major mining companies, who are best placed to fund the drilling needed to advance it.
“The 2024 Enduro exploration plan is two-pronged. Initial grassroots work will focus on target generation across multiple project areas, while more advanced structural analysis, data interpretation and geochemical/geophysical The structural analysis will focus on the McClymont Fault.The structural interpretation, combined with the nearby Seabridge discoveries further south-west along the McClymont Fault, will link the KSM/Brucejack area approximately 40km southeast. suggests strong similarities.
“We appreciate the support of Rob McEwen in supporting this strategy as a cornerstone investor in the recently announced financing that will fund these exploration activities.”
2023 Expedition Season Review
copper-gold porphyry target
2023 saw significant progress in the Company’s understanding of the copper-gold porphyry potential on the Newmont Lake property, particularly Burgundy Ridge and North Tor, and the development of the Copper Line concept.
At Burgundy Ridge, our most advanced copper-gold porphyry target, Enduro achieved an important milestone through the development of the first geological model (see Enduro News Release May 24)th, 2023). Insights gained from this work will be invaluable in laying the foundation for future exploration and drilling activities along Burgundy Ridge and the Copper Line.
In Norstow, we carried out a detailed mapping campaign covering an area of approximately 1.8km.2collected and analyzed rock samples and expanded the scope of drone magnetic surveys (see Enduro news release November 29)th, 2023). Although further work is required before North Toe can be deemed drill-ready, the company says it is excited about the potential of the prospect and has attracted the attention of major mining companies.
At Chachi, we completed a small field mapping and exploration program to advance our understanding of the southern part of the target area. Importantly, a mineralized intrusion consistent with magneto-geophysical features measuring approximately 2km x 2km was identified. Chachi is a region we identified in 2019 as a previously undiscovered 10km x 4km multi-element hydrothermal system (see Enduro News Release 15 September)th2020).
McClymont Gold Project
At McLymont, our focus was on understanding the structural controls governing mineralization encountered in historic drilling through directional drill core mapping and analysis. As a result of this work, we developed new structural concepts to test. If verified, the McClymont gold project could be unlocked, allowing the company to develop significant high-grade gold resources.
2024 exploration strategy
Given current market conditions, the Company plans to take a prudent two-pronged approach to exploration in 2024.
Regarding copper-gold porphyry exploration, early season work will focus on target refinement with the aim of attracting partners willing to commit capital to advance the Company’s exploration objectives.
At the McClymont Gold Project, the Company will seek to advance the structural understanding of the gold mineralization associated with the McClymont Fault. Based on the work carried out during 2023, a training program will be designed to test newly developed structural concepts. The company’s interpretation of historical data, taken in conjunction with drilling results announced by Seabridge Gold for its Snip North project located to the southwest along the same fault line, is based on the KSM/Brucejack area approximately 40 km southeast. shows remarkable similarities.
McClymont Gold Project
Figure 1: Floor plan map of the McClymont Gold Project showing the geochemistry of gold in the soil.
The known high-grade gold mineralization at McClymont is associated with the district-scale McClymont Fault south of the Newmont Lake property. The importance of this structure was recently demonstrated by newly discovered mineralization encountered by Seabridge Gold at its Snip North facility (see Seabridge press release dated December 14)th, 2023) and the historic snip mine where Cominco mined approximately 1moz at a grade of 27.5g/t Au in the 1990s. Enduro manages over 25km of this exclusive gold hosting structure.
copper-gold porphyry target
At Burgundy Ridge, the company successfully demonstrated through a diamond drilling program the presence of a silica-unsaturated alkaline porphyry system that is coeval with Galois Creek. Following an extensive core relogging campaign, the company completed its geological model in 2023 to understand the factors driving Burgundy Ridge mineralization and the underlying geological processes that led to the formation of this system. It’s starting to happen. The short-term focus is on expanding the system’s surface area and delineating new drilling targets. Analysis of recent satellite images has shown the existence of newly exposed areas due to glacier retreat to the west of the Burgundy Ridge, and a surface sampling program will be carried out in the future.
At North Tor, we will continue to collect data and set targets in preparation for drilling. In addition, the company plans to expand the system’s footprint to the southwest, in an area known as Big Toe. Like North Tor, Big Tor is located along the Copper Line and has recently experienced glacial retreat, exposing large alteration anomalies exhibiting copper-gold porphyry systems.
Figure 2: Satellite image of the target area of the north foot and big toe.
At Chachi, the Company will build on the work completed during 2023 by undertaking further grassroots exploration initiatives to identify mineralized outcrops and intrusions.
The Company also announced that it is extending the previously announced closing of its non-brokered private placement (the “Offering”) of units (the “Units”) at a price of $0.40 per Unit until March 1, 2024. . Please see our press release dated December 14, 2023 for information regarding the recruitment. Completion of the Offering is subject to the receipt of all necessary regulatory approvals, including the TSX Venture Exchange.
About Enduro Metals
Enduro Metals is an exploration company focused on the Newmont Lake Project. Total 688km2 This property is located between Eskay Creek, Snip and Galore Creeks in the heart of British Columbia’s Golden Triangle. Based on previous results, our geology team has identified high-grade ectothermal/skarn gold along the McClymont fault, copper-gold alkali porphyry mineralization in Burgundy, and newly discovered copper-gold porphyry mineralization. We have outlined multiple mineral deposit environments of interest throughout the Newmont Lake Project, including: At North Tor, there is a large 10km x 4km geochemical anomaly hosting a variety of gold, silver, copper, zinc, nickel, cobalt and lead mineralization along the newly discovered Chachi Corridor.
On behalf of the Board of Directors,
Enduro Metals Corporation
chief executive officer
For more information, please contact us below.
Ali Wasiliew – Communications Manager
Phone number: + (236) 420-4050
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This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements are subject to known and unknown risks and uncertainties, including the actual results, performance, performance or industry developments of Enduro, and the anticipated results expressed or implied by such forward-looking statements. and other factors that could cause results to differ materially. . Forward-looking statements are statements that are not historical facts and generally include, but are not limited to, “anticipate,” “plan,” “anticipate,” “believe,” “intend,” “estimate” ” and “to plan.” “Potential” and similar expressions, or that an event or condition “will”, “will”, “may”, “could”, or “should” occur; .
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