Endurance Gold (EDG.V) has completed the 17 hole Reverse Circulation drill program on its Reliance gold project in British Columbia. The property is located close to the village of Gold Bridge and just a brief hike from the historic Bralorne gold camp where Talisker Resources (TSK.TO) is exploring the historic Bralorne gold mine for high-grade mineralization.
Endurance’s drill program is following up on exceptionally strong channel sampling results which were published earlier this year; the headline results of 23.5 meters of 4.88 g/t gold and 31.5 meters containing 5.89 g/t clearly indicate there’s ‘something’ to be found there. Of course, channel sampling programs only provided limited amounts of data, and that’s why Endurance Gold wanted to drill a few holes as the data from the drill program will help it to finetune its exploration efforts in 2021. The labs are still backed up in Canada so we don’t anticipate to see drill results anytime soon, but we will for sure keep an eye on Endurance’s drill progress.
Endurance Gold also recently completed a private placement, raising almost C$645,000 by issuing 4.16 million units priced at C$0.155 with each unit consisting of a common share of Endurance as well as a full warrant allowing the warrant holders to acquire an additional share at C$0.25 during a two year period. The company mentioned an insider participated for 150,000 units of the offering, and in an amended SEDI filing we indeed see CEO Robert Boyd participating for 150,000 units (C$23,250).
Disclosure: The author has a long position in Endurance Gold and participated in the financing. An entity affiliated with the author received a finders fee in the past twelve months. Please read our disclaimer.
