Endomines intersects 3.1 g/t gold over 28 meters: confirms potential of the Karelian Gold Line
(Thomson Reuters ONE) -
The press release including tables can be downloaded from the following link:
Press release (PDF)
Endomines AB (the "Company") is pleased to report preliminary results from the
exploration campaign undertaken during 2011 in the vicinity of the Pampalo
mining area and along the Karelian Gold Line ("KGL"), in the Hosko, Rämepuro and
Korvilansuo areas. The Karelian Gold line is a 40 km long gold critical Archean
greenstone belt located near Ilomantsi, Eastern Finland, where Endomines
controls all currently known gold deposits and owns 100% of all mineral
rights.
Several new drilling targets have been generated during the exploration
campaign. Two of the new targets have been tested by drilling and in both places
gold bearing zones have been intercepted.
The most significant intersection was obtained from the newly discovered
Korvilansuo target (some 20 km south from Pampalo processing plant) and yielded
3.07 g/t gold over 27.95 meters, including 4 m with 13.7 g/t gold (true width
not determined, no top cut has been applied).
The other highlights of drilling campaign are as follows: 11.5 m with 2.7 g/t
gold including 4.5 m with 8.2 g/t gold at Pampalo North West-target (true width
not determined, no top cut has been applied).
Just over half of the assays have been analyzed so far, with the remaining
results still pending. The delay is due to the scarce availability of laboratory
capacity in the face of the recent strong growth of the exploration and mining
industry.
Final results of the whole drilling campaign will be released once all assay
results have been received.
Highlights:
* Airborne low-altitude [VTEM] geophysical surveys were completed over the
entire permit area. Several new drilling targets have been discovered all
over the claimed areas. Two of the new targets have been tested by drilling
and both places have yielded gold-bearing intersections.
* During the summer and autumn, a total of 5,400 meters of the planned 7,000-
meter drilling campaign 2011 has been completed, with a total of forty-four
drill holes. Results are still pending for eighteen of these. A further
2,000 meters of drilling is scheduled to be completed in the near future.
* Core drilling at Porkonen, Finnish Lapland is ongoing. About 400m of the
planned 1000 m program has been drilled.
* The mining authorities granted 50 new claim reservations, totaling 36 069
ha, all located on the Karelian Gold Line
* 86 new exploration licenses, totaling 6 977 ha, have been applied for to
secure further exploration possibilities along the Karelian Gold Line.
* A 60 ha extension of the Pampalo mining concession area has been applied for
with a view to preparing the Pampalo NW deposit for production
* An Environmental Impact Assessment (EIA) program for the known gold deposits
along Karelian Gold Line has been initiated. This process is expected to be
completed during the third quarter 2012.
Initial results of the drilling campaign are as follows:
Hosko
+------+-------+-------+------+------+-----+-----+--------------+------+-------+
|Drill-|Coord. |Coord. |Coord.|Length| AZI | Dip |Mineralization|Inter-| Gold |
| hole | Nord | East |Z (m) | (m) |(deg)|(deg)| from to (m) | val |(g/ton)|
| | (m) | (m) | | | | | |length| |
| | | | | | | | | (m) | |
+------+-------+-------+------+------+-----+-----+-----+--------+------+-------+
|HOS-38|6997100|4559590| 199 |135.7 |90.0 |-45.0|84.25| 93.4 | 9.2 | 2.4 |
| | | | | | | | | | | |
| | | | | | |incl.|92.4 | 93.4 | 1 | 14.6 |
| | | | | | | | | | | |
| | | | | | | |98.25| 99.25 | 1.0 | 1.4 |
+------+-------+-------+------+------+-----+-----+-----+--------+------+-------+
|HOS-39|6997130|4559590| 199 |129.2 |90.0 |-45.0|84.8 | 87.95 | 3.15 | 0.4 |
| | | | | | | | | | | |
| | | | | | | |97.0 | 100.0 | 3.0 | 2.5 |
| | | | | | | | | | | |
| | | | | | | |106.0| 109.0 | 3.0 | 0.5 |
+------+-------+-------+------+------+-----+-----+-----+--------+------+-------+
|HOS-40|6997160|4559590| 199 |130.0 |90.0 |-45.0|105.6| 106.6 | 1.0 | 0.7 |
| | | | | | | | | | | |
| | | | | | | |113.2| 115.2 | 2.0 | 0.5 |
+------+-------+-------+------+------+-----+-----+-----+--------+------+-------+
|HOS-41|6997190|4559600| 197 |129.5 |90.0 |-45.0|102.9| 105.9 | 3.0 | 0.4 |
+------+-------+-------+------+------+-----+-----+-----+--------+------+-------+
|HOS-42|6997210|4559600| 198 |129.3 |90.0 |-45.0|101.2| 103.75 | 2.55 | 0.7 |
+------+-------+-------+------+------+-----+-----+-----+--------+------+-------+
Note: Due to the known influence of a nugget effect in the Hosko mineralization,
all samples from Hosko mineralized zones have been sent to Als Chemex for 1 kg
screen fire assay testing (Als code Au-SCR24) in order obtain more reliable
assay results.
Pampalo NW
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|Drill-| Coord. |Coord. |Coord.|Length| AZI | Dip |Mineralization|Interval|Gold|
| hole |Nord (m)| East |Z (m) | (m) |(deg)|(deg)| from to (m) | length |(g/ |
| | | (m) | | | | | | (m) |ton)|
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-156 |6988710 |4563410| 207 | 94.5 |270.0|-45.0|35.5 | 36.55 | 1.1 |1.0 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-156 |6988710 |4563410| 207 | 94.5 |270.0|-45.0|39.55| 40.55 | 1 |1.6 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-157 |6988730 |4563379| 207 | 80.0 |270.0|-45.0|17.1 | 18.15 | 1.05 |1.8 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-158 |6988750 |4563379| 207 | 50.1 |270.0|-45.0|14.1 | 15.1 | 1 |0.8 |
| | | | | | | | | | | |
| | | | | | | |45.05| 47.1 | 3.05 |2.6 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-159 |6988770 |4563400| 207 | 80.0 |270.0|-45.0|40.35| 41.65 | 1.3 |1.1 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-160 |6988800 |4563400| 208 | 73.9 |270.0|-45.0|47.5 | 49.5 | 2 |1.8 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-161 |6988800 |4563380| 208 | 52.7 |270.0|-45.0|31.85| 43.3 | 11.45 |2.7 |
| | | | | | | | | | | |
| | | | | | | | | or | 5.7 |4.9 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-162 |6988820 |4563361| 208 | 61.1 |270.0|-45.0|38.6 | 39.8 | 1.2 |0.3 |
| | | | | | | | | | | |
| | | | | | | |49.8 | 50.8 | 1 |0.3 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
| | | | | | | |No significant | |
|P-163 |6988840 |4563381| 208 | 70.8 |270.0|-45.0|intersections | |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-164 |6988840 |4563360| 208 | 82.6 |270.0|-45.0|51.4 | 52.8 | 1.4 |2.2 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
| | | | | | | |No significant | |
|P-165 |6988860 |4563360| 208 | 65.0 |270.0|-45.0|intersections | |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
|P-166 |6988780 |4563371| 207 | 41.0 |270.0|-45.0| 13 | 14.7 | 1.7 |1.0 |
| | | | | | | | | | | |
| | | | | | | | 18 | 22 | 4 |1.1 |
+------+--------+-------+------+------+-----+-----+-----+--------+--------+----+
| | | | | | | |No significant | |
|P-176 |6988750 |4563360| 209 | 49.4 |270.0|-45.0|intersections | |
+------+--------+-------+------+------+-----+-----+-----------------------+----+
Poikopää
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|Drill-| Coord. |Coord. |Coord.|Length| AZI | Dip |Mineralization|Interval|Gold|
| hole |Nord (m)| East |Z (m) | (m) |(deg)|(deg)| from to (m) | length |(g/ |
| | | (m) | | | | | | (m) |ton)|
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| | | | | | | |No significant |
|POI-1 | 6988440|4561860| 185.0| 150.0|270.0|-40.0|intersections |
+------+--------+-------+------+------+-----+-----+----------------------------+
| | | | | | | |No significant |
|POI-2 | 6988440|4561780| 185.0| 150.1|270.0|-40.0|intersections |
+------+--------+-------+------+------+-----+-----+----------------------------+
Juttuhuuhta
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|Drill-| Coord. |Coord. |Coord.|Length| AZI | Dip |Mineralization|Interval|Gold|
| hole |Nord (m)| East |Z (m) | (m) |(deg)|(deg)| from to (m) | length |(g/ |
| | | (m) | | | | | | (m) |ton)|
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|P-191 | 6987395|4564455| 211 |191.8 |270.0|-40.0|179.75|182.75 | 3 |0.4 |
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|P-192 | 6987335|4564435| 211 |152.7 |270.0|-40.0|115.85|119.85 | 4.0 |0.6 |
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|P-193 | 6987435|4564455| 212 |155.8 |270.0|-40.0| 61.3 | 62.8 | 1.5 |0.6 |
| | | | | | | | | | | |
| | | | | | | | 64.8 | 65.8 | 1 |0.6 |
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|P-194 | 6987395|4564475| 211 |162.4 |270.0|-40.0|No significant | |
| | | | | | | |intersections | |
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|P-195 | 6987395|4564430| 209 |138.1 |270.0|-45.0|62.65 | 64.15 | 1.5 |0.5 |
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
Rämepuro
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|Drill-| Coord. |Coord. |Coord.|Length| AZI | Dip |Mineralization|Interval|Gold|
| hole |Nord (m)| East |Z (m) | (m) |(deg)|(deg)| from to (m) | length |(g/ |
| | | (m) | | | | | | (m) |ton)|
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|HA-120|6977430 |4564530| 168 |109.7 |90.0 |55.0 |assays pending| | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|HA-121|6977580 |4564550| 168 | 88.3 |90.0 |55.0 |assays pending| | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977640 |4564530| 168 |100.3 |90.0 |55.0 |assays pending| | |
|HA-122| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977680 |4564520| 168 |100.0 |90.0 |50.0 |assays pending| | |
|HA-123| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977745 |4564509| 168 |107.2 |90.0 |55.0 |assays pending| | |
|HA-124| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977620 |4564540| 168 | 79.0 |90.0 |45.0 |assays pending| | |
|HA-125| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977660 |4564530| 168 | 94.5 |90.0 |55.0 |assays pending| | |
|HA-126| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977714 |4564520| 168 |104.2 |90.0 |55.0 |assays pending| | |
|HA-127| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977760 |4564510| 168 | 97.3 |90.0 |48.0 |assays pending| | |
|HA-128| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977820 |4564520| 168 | 85.0 |90.0 |50.0 |assays pending| | |
|HA-129| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977900 |4564510| 168 |115.8 |90.0 |55.0 |assays pending| | |
|HA-130| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977880 |4564510| 168 | 94.9 |90.0 |45.0 |assays pending| | |
|HA-131| | | | | | | | | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
| |6977902 |4564581| 168 | 43.0 |90.0 |41.0 |No significant | |
| | | | | | | |intersections | |
| | | | | | | | | |
|HA-132| | | | | | | | |
+------+--------+-------+------+------+-----+-----+----+---------+--------+----+
|HA-133|6977740 |4564576| 168 | 42.6 |90.0 |45.0 |19.0| 20.6 | 1.6 |2.7 |
+------+--------+-------+------+------+-----+-----+----+---------+--------+----+
|HA-134|6977640 |4564600| 168 | 31.9 |90.0 |45.0 |assays pending| | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
Korvilansuo
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|Drill-| Coord. |Coord. |Coord.|Length| AZI | Dip |Mineralization|Interval|Gold|
| hole |Nord (m)| East |Z (m) | (m) |(deg)|(deg)| from to (m) | length |(g/ |
| | | (m) | | | | | | (m) |ton)|
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|KVS-1 |6966760 |4559680| 182 |180.4 |90.0 |-45.0| 16.0 | 17.1 | 1.1 |4,5 |
| | | | | | | | | | | |
| | | | | | | |145.2 | 146.2 | 1.0 |5,8 |
| | | | | | | | | | | |
| | | | | | | |167.1 | 167.8 | 0.7 |7,3 |
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|KVS-2 |6966760 |4559790| 182 |168.4 |90.0 |-45.0| 26.6 | 29.6 | 3.0 |1,3 |
| | | | | | | | | | | |
| | | | | | | | 38.4 | 43.3 | 4.9 |0,6 |
| | | | | | | | | | | |
| | | | | | | | 60.6 | 62.6 | 2.0 |0,6 |
| | | | | | | | | | | |
| | | | | | | | 66.8 | 70.8 | 4.0 |0,4 |
| | | | | | | | | | | |
| | | | | | | | 88.5 | 90.0 | 1.5 |0,8 |
| | | | | | | | | | | |
| | | | | | | |100.0 |127.95 | 27.95 |3,1 |
| | | | | | | | | | | |
| | | | | | | or |100.0 | 104.0 | 4.0 |13,7|
| | | | | | | | | | | |
| | | | | | | |140.95|142.45 | 1.5 |1,0 |
| | | | | | | | | | | |
| | | | | | | |146.4 | 148.4 | 2.0 |1,6 |
| | | | | | | | | | | |
| | | | | | | |160.4 | 162.4 | 2.0 |1,6 |
+------+--------+-------+------+------+-----+-----+------+-------+--------+----+
|KVS-3 | 6966700|4559700| 182| 204.5| 90.0|-45.0|assays pending| | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|KVS-4 | 6966700|4559780| 182| 159.1| 90.0|-45.0|assays pending| | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
|KVS-5 | 6966625|4559800| 182| 129.5| 90.0|-45.0|assays pending| | |
+------+--------+-------+------+------+-----+-----+--------------+--------+----+
Note 1: No "top cut" has been applied when calculating intersection grades.
Note 2. It is unclear if any mineral resource can be derived from these
drilling results.
Airborne geophysical surveys were undertaken out by SkyTEM Surveys ApS ,Denmark,
and the interpretation of the results, by Astrock Oy, Finland.
All drilling has been carried out by Pöyry Finland Oy using WL-66 (~NQ2) tubes,
resulting in cores of 50,5 mm in diameter. The locations of the drill holes have
been surveyed using GNSS-GPS equipment. Azimuth and dip deviations have been
measured using the Reflex Maxibor Borehole Survey System.
The preparation and assaying of the sawn half-core samples has been in part
carried out at the Endomines laboratory at Pampalo, with the rest sent to the
ALS Chemex laboratories in Rosia Montana, Romania and Vancouver, Canada. The
preparation of the half- core samples for ALS Chemex was undertaken at the ALS
Chemex facility in Outokumpu, Finland.
The sample procedures used were PAL-1000 with FAAS finishing at the Endomines
laboratory, and Au-AA26 (50g) at the ALS Chemex laboratory. Any assays with gold
grades exceeding 3 g/t were re-assayed using the AU-GRA22 method. All gold
grades obtained at the Endomines Pampalo mine site laboratory have been or will
be re-checked at the ALS Chemex laboratory.
Normal QA/QC (Quality Assurance/Quality Control) procedures were followed for
all the samples with standards, blanks and duplicates routinely submitted as
part of the sampling program. The quality of sample preparation, security,
integrity and chemical assays was equal to, or exceeded current industrial
standards and the requirements of JORC-code.
This statement has been prepared by Jaakko Liikanen (MSc Geol), who is acting as
a Qualified Person in compliance with SveMin-FinnMin rules. Mr Liikanen owns
1 221 556 (1.54%) Endomines AB shares and is employed by the Company as Chief
Technical Officer. The data supporting this news release has been included in a
Surpac database and has been verified against the original laboratory assay
certificates.
A map showing the drill hole locations will be posted on the Company's website
at: http://www.endomines.com/depositmap.php
For further information, please contact:
Markus Ekberg, CEO of Endomines AB
tel. +358 40 706 48 50
Or visit the Company's website at www.endomines.com
About Endomines AB
Endomines AB is a Nordic mining and exploration company with its first operating
gold mine in production since February 2011. The mine is located in Eastern
Finland, on the Karelian Gold Line, a 40 km long gold critical belt, where
Endomines controls all currently known gold deposits.
The company has several other gold and industrial mineral properties at various
stages of development. All Endomines' mineral assets are located in Finland,
which is politically stable, has a highly developed infrastructure and is ranked
as one of the most favorable jurisdictions for the mining industry.
Endomines aims to increase shareholder value by developing its strong portfolio
of assets, as well as exploring new deposits on the Karelian Gold Line and in
Finnish Lapland. The company will also consider new opportunities and
acquisitions for further growth.
The company's business practices and mining operations are based on sustainable
principles and on minimizing the impact on the environment.
Endomines applies SveMin's & FinnMin's respective rules for reporting (public
mining & exploration companies). It has also chosen to report mineral resources
and ore reserves according to the JORC-code, which is the internationally
accepted Australasian code for reporting ore reserves and mineral resources.
Endomines applies International Financial Reporting Standards (IFRS) as approved
by the European Union.
The shares of Endomines AB are quoted on the First North Premier segment in
Stockholm under ticker ENDO.ST. Erik Penser Bankaktiebolag acts as Certified
Adviser and Liquidity Provider.
Read more about Endomines on www.endomines.com
---
This news release may contain forward-looking statements, addressing future
events and conditions which are subject to various risks and uncertainties. The
Company's actual results, programs and financial position could differ
materially from those anticipated in such forward-looking statements as a result
of numerous factors, some of which may be beyond the Company's control. These
factors include the availability of funds, the timing and content of work
programs, results of exploration activities and development of mineral
properties, the interpretation of drilling results and other geological data,
the uncertainties of resource and reserve estimations, receipt and security of
mineral property titles, project cost overruns or unanticipated costs and
expenses, fluctuations in metal prices, currency fluctuations and general market
and industry conditions.
Forward-looking statements are based on the expectations and opinions of the
Company's management on the date the statements are made. The assumptions used
in the preparation of such statements, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements
Press Release PDF:
http://hugin.info/138043/R/1572314/489215.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Endomines AB via Thomson Reuters ONE
[HUG#1572314]
Unternehmensinformation / Kurzprofil:
Datum: 19.12.2011 - 12:14 Uhr
Sprache: Deutsch
News-ID 98317
Anzahl Zeichen: 26215
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 131 mal aufgerufen.
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"Endomines intersects 3.1 g/t gold over 28 meters: confirms potential of the Karelian Gold Line"
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