Enduro Metals (TSXV:ENDR) has completed its 2022 drill program consisting of 10,888 metres of diamond drilling over 25 holes at the Newmont Lake Project.

The 2022 drilling campaign’s purpose was to expand the Burgundy Ridge copper-gold porphyry target’s mineralized footprint, following 2021’s discovery hole (331m of 0.71% CuEq from surface, including 146m of 1.00% CuEq). A total of 20 diamond drill holes were completed at Burgundy Ridge during the season. An additional 5 diamond drill holes were completed at McLymont West along the McLymont Fault Gold Mineralization Zone.

Over the course of several months in 2018, Enduro conducted drone magnetic geophysical surveying and geological mapping, as well as significant channel sampling throughout other Newmont Lake project locations to ensure a steady supply of high-priority targets.

Enduro’s 2022 exploration program was based on the successes of 2021. In that year, they drilled several promising target areas including Burgundy Ridge, 72 Zone, NW Zone, Havana and Chachi. They have received all assay results from those tests and will post them to their website.

Cole Evans, President/CEO of Enduro Metals commented in a press release: “We are thrilled to report that our team has completed the largest drill program undertaken at the Newmont Lake project. Given the scale of the property, the number of exploration targets, and the cost of exploration in the Golden Triangle, a decision was taken to concentrate the 2022 exploration budget on expanding the mineralized footprint of the Burgundy Ridge copper-gold porphyry discovery which I believe has the potential to be a Tier 1 mineral deposit. In addition to drilling at Burgundy Ridge, we put 5 holes into the McLymont West target within the McLymont Fault Gold Zone. I am encouraged by what I have seen in the drill core from both areas and look forward to receiving assays later in 2022″.

Dylan Hunko, COO of Enduro Metals commented in a press release: “We are very pleased with the 2022 exploration season and with the real progress Enduro has made advancing the targets at Burgundy Ridge and the McLymont Fault Gold Zone. We successfully increased drilling efficiency and materially reduced our drilling cost per meter by moving our exploration base to the drive-in staging area at the Coast Mountain Hydroelectric Facility, on the southern margin of the property. We will endeavour to continue safe and cost-effective exploration as we advance the Burgundy Ridge copper gold porphyry target and work up our other prospective areas on the Newmont Lake Property.”

Highlights from the 2022 exploration program include:

  • Logging of drill core from Burgundy Ridge identified wide zones of sulphide mineralization including chalcopyrite, bornite and chalcocite in several drill holes.
  • Visual inspection of the core shows a strong correlation to the large chargeable geophysical anomaly identified using induced polarization geophysics (see March 9th, 2022, Enduro news release).
  • Maiden drilling further west along the McLymont Fault Gold Zone target has shown that the area has been subject to intense hydrothermal activity, with multiple zones of quartz veining and sulphide mineralization visible in core.
  • Figure 1a: Plan view map of completed 2022 and historic drill holes at Enduro’s Burgundy Ridge alkalic copper-gold porphyry target. Source: Enduro Metals Corporation

    Figure 1b: Plan view map of completed 2022 and historic drill holes at Enduro’s McLymont West, along the McLymont Fault Gold Zone. Source: Enduro Metals Corporation

Exploration targets that were also explored in 2022 include:

  • Chachi – the Company’s focus on Chachi has moved to the Southwest Ridge following drilling of the geophysical anomaly during 2021 which assisted in identifying a large 2,500m x 750m copper-gold anomaly further south of the drilled area. The Southwest Ridge anomaly is now the largest copper and gold in soil anomaly encountered on the Newmont Lake property to date, and shares similarities with the Burgundy System.
  • North Toe – Geological prospecting of the North Toe zone has identified an area of quartz-chalcopyrite stockwork veining and encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems. The area is of comparable scale, and along strike of the Burgundy system. Similar to the work completed at Southwest Ridge, North Toe has strong similarities to the Burgundy copper-gold porphyry system, underlining a potential geological pattern of multiple porphyry centres within the Company’s 688km2 land package.
  • NW Zone – Data interpretation is ongoing at the NW Zone to investigate further size and extent of the potentially expansive system. Drilling in 2022 has focused on the greater McLymont Fault Gold zone expanding the mineralized footprint of the system.
  • Ken Zone – Mineralization and alteration indicative of an alkalic porphyry system has been encountered on surface through geological prospecting and planning is underway for potential future drilling.
Figure 2: Newly acquired mineral claims coloured in yellow and highlighted in red on the eastern portion of Enduro’s Newmont Lake Project. Source: Enduro Metals Corporation

Details of Property Expansion

The Company is also pleased to announce that it has acquired 100% interest in an additional 35km2 of mineral claims via staking on the eastern portion of the Newmont Lake Project, increasing the total land package to 688km2 (see Figure 2).

Source: Enduro Metals Corporation

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Source: Enduro Metals

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.”

Source: Enduro Metals

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.

Source: Enduro Metals

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.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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