Inside information: Endomines exploration update - positive till sampling results from Southern Gold LineEndomines Finland Plc – Stock Exchange Release, Inside Information – 11/7/2024, at 15:30 EEST
Inside information: Endomines exploration update – positive till sampling results from Southern Gold Line
Endomines reports results from the 2023-2024 base of till sampling program performed at the Southern Gold Line area. All results have been received. Multiple significant, new gold anomalous areas have been recognized. Gold concentrations in base of till samples indicate gold concentrations in the bedrock, and positive results are used to guide exploration drilling.
Highlights
Eight new, potential areas were recognised in the Southern Gold Line close to known gold deposits
- A significant gold, molybdenum and tungsten anomalous area was recognized in the base of till sampling (BOT) in the South-West of the Kuittila deposit in Southern Gold Line. This supports the potential to extend the Kuittila mineralization towards South-West.
- Four distinct areas with elevated gold, molybdenum and tungsten content in the base of till have been identified within low chargeability zones interpreted to represent tonalite intrusions. Those areas are interpreted to be prospective for Kuittila style mineralization. Two of such anomalous zones lie South of the Korvilansuo deposit in a previously unsampled area.
- Three zones with anomalous gold content in the base of till have been identified between the Korvilansuo and Kuittila deposit in previously unsampled area. All three anomalous zones lie within the interpreted South-East continuity of the Korvilansuo and are interpreted to be prospective for Korvilansuo style mineralisation.
“These are exciting news. Our previous work has been mainly based on old base of till data. These analyses clearly highlight the potential in the Southern Gold Line. Samples from untested areas, very close to known deposits, indicate that we have great potential to grow the known deposits into much larger than the current size. We will continue explorational drilling in the area during August-December 2024. We are also continuing permitting process in the area to ensure fast roadmap to gold production.” says Kari Vyhtinen, CEO of the company.
Base of till sampling at Southern Gold Line
The Base Of Till (BOT) program completed in 2023-2024 in the Southern Gold Line consists of a total of 1066 samples. The BOT drilling concentrated on previously unsampled/poorly sampled areas in the immediate vicinity of the Korvilansuo and Kuittila deposits. Sample spacing of 20 meters was used for this program. The spacing between sampling lines varies from 100 to approx. 400 m.
This geochemical sampling led to the identification of a series of significant base of till gold (Au) and pathfinders (Mo, W, Cu, Ag) anomalies on the western margin of the Kuittila tonalite and in the overlying supracrustal rocks.
Figure 1:
On the left side a) Situation prior to the campaign. Base Of Till samples gold content (orange dots) in relation with the induced polarisation chargeability.
On the right-side b) Situation after the new results. Winter 2023-2024 base of till samples gold content in relation with the induced polarisation chargeability. The most prominent gold and pathfinder elements anomalous areas are indicated with orange dashed lines.
Background: MML Maastokartta.
All the base of till drilling has been carried out by Moreenityö Mäcklin Oy. A track-mounted rig with percussion drill equipment has been used for the program. The sampling depth varied between 1.1 and 14.2 meters with the average sampling depth being 4.7 meters. The average sample weight was 264 grams. All the samples were examined and logged by Endomines geologists and sent to CRS laboratories Oy in Kempele for preparation (code DRI-060, PSC-999 & PSC-110) and then sent to MS Analytical laboratory in Langley, Canada, where samples were analyzed by method FAS-111 (Au) and IMS-131 (Multi-Element). In the cases of insufficient sample weight, the multi-element analysis was conducted with IMS-131H or IMS-130.
A field duplicate has been collected for every 50 samples. Certified reference materials and duplicates are inserted in the sample sequence by CRS Laboratories. Endomines geologists routinely check the quality of the sampling and assay procedure.
Karelian Gold Line
The Karelian Gold Line is 40 kilometres long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometres northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. The Pampalo mine has produced 190,000 ounces of gold at an average grade of 3.6 g/t. Endomines controls the exploration rights across the Karelian Gold Line.
Competent Person
This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person in compliance with the Fennoscandian Association for Metals and Mining Professionals, FAMMP, –standards. Jani Rautio is a full-time employee of Endomines and owns 2,000 shares in Endomines.
Endomines Finland Plc
Further information:
Kari Vyhtinen, CEO, kari.vyhtinen@endomines.com, +358 40 585 0050
Jani Rautio, Chief Geologist, jani.rautio@endomines.com, +358 50 593 0812
About Endomines
Endomines is a mining and exploration company with its primary focus on gold. Endomines is engaged in mining operations at the Pampalo mine in Ilomantsi, and in exploration activities along the Karelian Gold Line in Eastern Finland. Endomines also owns rights to several gold deposits in Idaho and Montana, US, where Endomines aims to continue the development work through partnership agreements. www.endomines.com
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