Kelowna, British Columbia – July 6, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) (“Enduro Metals” or the “Company”) is pleased to report field crews have begun geophysical, geochemical, and geological mapping surveys at the Company’s 100% owned Newmont Lake Project, located in the heart of British Columbia’s Golden Triangle.
Fieldwork during the first phase of the 2023 exploration season continues to build on initial results from a late-season geochemical and geophysical survey at North Toe (see Enduro News Release April 11th, 2023). North Toe is a copper-gold porphyry target previously covered by a rapidly retreating glacier west of the target. North Toe sits approximately 8km northeast of Burgundy Ridge, and is believed to be part of a recently identified 20km structural corridor controlling copper-gold mineralization known as the Copperline (see Enduro News Release May 24th, 2023).
500% increase of drone magnetic coverage expanding on the “Bullseye” geophysical anomaly from late-2022 surveying (see Figures 1& 2).
Strong initial observations from surface samples of very recently exposed outcrops due to glacial retreat identified on June 28th, 2023 (see Figures3 & 4).
Early geological observations of very recently exposed outcrops at North Toe identified on June 28th, 2023 have identified a quartz-magnetite-chalcopyrite-bornite stockwork on surface. Mineralization is characterized with “potassic” alteration (see Figures 3 & 4). Alteration and mineralization of this style are characteristic of world-renowned copper-gold porphyry deposits such as Newcrest/Newmont’s Red Chris and Cadia/Ridgeway deposits.
Figure 1: Overview of North Toe highlighting in-situ rock samples along a minimum 2.5km copper-gold anomaly with a coincident “Bullseye” geophysical feature in the centre. The final rock sample at the western margin of the copper-gold anomaly is 57.83 g/t Au and 0.09% Cu and remains open. The final rock sample to the eastern margin of the copper-gold anomaly is 17.87 g/t Au, and 1.33% Cu and remains open. The area has seen approximately 1,700m of glacial retreat since exploration prior to Enduro Metals.
Cole Evans, CEO of Enduro Metals commented, “North Toe is a rapidly developing copper-gold target several kilometres along strike from Burgundy Ridge. Field crews identified substantial mineralization over a 2.5km strike length. This was followed up with a drone magnetic survey over the centre of the geochemical anomaly at the end of the 2022 exploration season. We are currently expanding the drone magnetic survey coverage at North Toe by 500% given the compelling results from last year suggesting the possible presence of a copper-gold porphyry centre at North Toe.
Substantial copper-gold porphyry deposits in both British Columbia and around the world tend to form in clusters along multi-kilometre structural trends. Our developing understanding of the Copperline (see News Release April 11th, 2023) suggests North Toe could be another copper-gold porphyry centre along the Copperline, which includes other areas such as Burgundy, 72′ Zone, and others.
Importantly, North Toe is in a readily accessible location with valley routes to road and power infrastructure, as well as Newmont/Teck’s proposed tailings facility for the restarted Galore Creek copper-gold project.”
Figure 2: Expanded drone magnetic survey totalling 350 line-kilometres. This survey expands on results from the late-2022 survey displayed as Total Magnetic Intensity (TMI) in this figure.
Initial Surface Findings – 2023 Exploration Program
Field mapping and prospecting have identified multiple areas of mineralization consistent with alkalic porphyries at the North Toe target. Most importantly, zones of potassic-altered, monzonitic dyke swarms containing quartz + chalcopyrite +/- magnetite +/- bornite veins have been identified. The dyke swarms track a series of NE – SW faults along the North Toe corridor and appear to be the primary host of mineralization. Highest vein abundance, copper-sulphide content and the most intense alteration have all been associated with these intrusions. The dyke swarms have been traced over 2 km and sampled continuously in order to provide the strongest geochemical dataset possible.
Figure 3: Representative sample of quartz – sulphide stockwork hosting chalcopyrite and bornite mineralization within a potassically altered intrusive rock of syenitic to monzonitic composition (to be determined) – assays pending.
Figure 4: Representative sample of quartz – magnetite – chalcopyrite veins along with quartz – sulphide stockwork within potassically altered intrusive rock of syenitic to monzonitic composition (to be determined) found on surface at North Toe – assays pending.
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., Director for Enduro Metals, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total 688km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy & 72 Zones, encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems at North Toe, and a large 9km x 4km geochemical anomaly hosting various 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 further information please contact:
Ali Wasiliew – Manager of Communications
Tel: + (236) 420-4050
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
As a continued effort to keep investors, interested parties and stakeholders updated, we have several communication initiatives. If you have any questions online (Twitter, Facebook, LinkedIn, or Instagram) feel free to send direct messages or a post and include the hashtag #askENDR.
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This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Enduro’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Although Enduro believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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