Shares of Endurance Gold Corp. (TSX-V: EDG) rose 6 cents or 16% on 1.88 million shares on Wednesday after the company announced the third round of drill results from its Reliance project in a month.
In the latest assays, the company reported a new near-surface discovery on the "Eagle South" soil anomaly. The highlight interval was 15.7 grams of gold per tonne (g/t Au) over 24.8 metres, including a narrower interval of 26.96 g/t Au over 4.1 metres. Other intervals included a step-out hole 150 metres from a previously reported drill hole, which intercepted 8.62 g/t Au of 24.4 metres. With the new results, the company says the strike length of the mineralised body has been tested for 300 metres, with a confirmed 400-metre strike potential for the project's Eagle Zone.
“The Company’s maiden diamond drilling program at the Eagle Zone continues to report near-surface high-grade gold intervals that now significantly expand the exploration potential into the previously undrilled Eagle South area," Endurance CEO Robert T. Boyd said in the release. "Systematic exploration is now delivering a significant discovery at the Eagle South with a top-tier gold intersection. The original Imperial Zone, and recent discoveries at the Eagle, Eagle South and Diplomat Zones convincingly demonstrate potential for further growth through drilling along the prospective two kilometre long Royal Shear trend at the Reliance Property.”
The company has completed 22 drill holes at the project's Eagle and Imperial Zones, with assays from the first seven reported in two releases over the past month. Since the first results were announced, shares of the company have risen 15 cents to close at 43.5 cents on Wednesday.