Enduro Metals (TSXV:ENDR) has announced the fully-funded 2022 exploration program at the Newmont Lake Project has begun. Located in British Columbia’s Golden Triangle, the goals of the drilling focus on the Burgundy Ridge and McLymont Fault Projects.
The goal of the 2022 exploration program is to expand the mineralized footprint of the alkalic porphyry system discovered at Burgundy Ridge in 2021. The second aim will be to continue the geochemical sampling effort at McLymont Fault and extend the potential mineralized footprint from 700m to 5,500m.
President, CEO, and Director of Enduro Metals Cole Evans commented in a press release: “The company is in a fortunate position to be fully funded for its 2022 exploration program following the C$10m private placement undertaken in May. Burgundy represents a top-tier porphyry exploration target, and we are looking forward to a very exciting year with a greater understanding of the scale and significance of this mineralized system which shows many similarities to Galore Creek, some 35km to our northwest. While Burgundy is truly exciting, we must not forget that we have an excellent project in the McLymont Fault. The results of the recent geochemical sampling program suggest that we have a gold-rich project which has the size and scale needed to be economic in the Golden Triangle. I would like to extend our thanks to the entire field team whose combined efforts have allowed us to commence drilling earlier than ever before on the property despite the fact that the snow base has been substantially higher than average.”
At Burgundy Ridge, a two-rig diamond drill program has begun testing the extent of the copper and gold mineralization at the site along a 1,2000m strike length. The company is preparing multiple drill locations and the first drill has already commenced with the second rig ready to begin drilling soon. The Burgundy Ridge program is designed to zone in on the centre of the porphyry system. It will also test the mineralization deeper than previously drilled at the site since porphyries usually form as vertically oriented deposits up to many kilometres in vertical and horizontal scale.
At the McLymont Fault, Enduro is finalizing a detailed exploration program following up on the geochemical soil sampling program from 2021. It’s anticipated that one of the two rigs working at Burgundy Ridge will be moved to test the new zone and follow up on drill hole GSC88-1, which revealed 73.40g/t Au, 12.5g/t Ag, and 0.13% Cu over 0.60m in 1988. If this is successful, the project would expand the footprint of the McLymont Fault mineralized zone to 5,500 meters, comparable to other large bulk-tonnage gold deposits adjacent to Newmont Lake like KSM.