Endomines continues to receive multiple high grade intersections from Pampalo Deep extensions
Endomines is pleased to report results from the ongoing exploration campaign at Pampalo Gold Mine and other Karelian Gold Line exploration targets. In total 30 new underground drill holes (2,366 m) have been drilled to the Pampalo Deep extension of North lens and new S2-lens in July and August. Assay results from 72 underground drill holes have been received and 52 of these drill holes have returned ore grade (grade x length > 8 gram metres) intersections.
The results from the North lens include among others holes T-934 email@example.com g/t gold and firstname.lastname@example.org g/t gold (including email@example.com g/t gold) and T-942 firstname.lastname@example.org/t gold. The results from the S2-lens include holes T-965 email@example.com g/t gold (including 1.0m@108 g/t gold) and T-985 firstname.lastname@example.org g/t gold (including email@example.com g/t gold).
The results confirm that the previously reported high grade extension of the Pampalo Northern lens continues to deeper levels. The recently discovered and reported high grade S2-lens has been further confirmed with several additional drill core intersections.
The company will continue to explore within the area once location of decline and other subsequent development drifting make it feasible. “The continued drilling campaign at Pampalo Deeps has been very successful. These new drill intersections indicate that the structure of the deposit is changing and that the overall in-situ grade is improving from 500 meter level and downwards. As all of these new discoveries are open towards the depth, we will strive to continue with our exploration project”, comments Markus Ekberg, CEO of Endomines.
All drill core results received from Pampalo Deeps by 31stAugust are published in the attached complete report as well as on the Company´s website at http://endomines.com/images/pdf/Endomines_Exploration_UpdateReport_2015_September6.pdf.
The company’s regional exploration along the Karelian Gold line is continuing. Diamond drilling programs at Pampalo N, Pampalo NW, Rämepuro and Hosko totalling to 3,463 meters distributed in 36 holes have been completed, but the majority of the assay results are pending. About 1,600 samples have been collected with the Base-of-till sampling program and further 100 samples have been planned to be collected. First few assay results are indicating new gold anomalous areas, but the majority of the assay results are still pending.
Endomines Exploration Challenge “Karelian Gold Rush 2015” registration has been opened for everyone at http://goldrush.endomines.com. With the GIS-map service “LouhiGold” at http://louhigold.sito.fi/ everyone can look drill hole and till sampling locations on different map layers. Actual competition data will be available for download at LouhiGold for the registered individuals from November 4th.
Competent Person: Eurogeologist, MSc (Geol) Markus Ekberg acting as a Qualified Person in compliance with Fennoscandian Review Board -standards, has controlled this statement. Markus Ekberg is employed by Endomines as Chief Executive Officer and owns 180 000 shares in Endomines.
For further information, please contact:
Markus Ekberg, CEO of Endomines AB, tel. +358 40 706 48 50 or visit the Company´s home page: www.endomines.com
Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08:45 CEST on September 7, 2015.
Endomines conducts exploration and mining business along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area.
The Company’s first mine, Pampalo, started in February 2011. During 2014, Endomines initiated the production of ore from the mine in Rämepuro. The ore from satellite mines will be processed in the centrally located mill at Pampalo.
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 for public mining & exploration companies. The Company has 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 vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise.
The shares of Endomines AB are quoted on NASDAQ Stockholm under ticker ENDO and on NASDAQ Helsinki under ticker ENDOM. The Liquidity Provider in both Stockholm and Helsinki is Erik Penser Bankaktiebolag.
This news release may contain forward-looking statements, which address 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