Endurance Gold Corporation is looking to raise gross proceeds of up to $2.5 million from the placement of up to 6,250,000 units priced at $0.40 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.55 for 24 months.
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I’m Katriina Cotten for Investmentpitch Media
Endurance Gold Corporation, a North American precious metals exploration and development company, has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $2.5 million from the placement of up to 6,250,000 units priced at $0.40 per unit.
The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.55 for 24 months.
Proceeds will be used for exploration activities and for general corporate purposes.
The shares are trading at $0.345.
The company is currently focused on advancing its Reliance Gold Project, a road accessible property, located 4 kilometres east of the village of Gold Bridge, and 10 kilometres north of the historic Bralorne-Pioneer Gold Mining Camp, which has produced over 4 million ounces of gold.
The company completed a diamond drilling program between August through November that explored and extended the new zones identified at the Eagle Zone, and Eagle South Target area and also drilled the pre-existing Imperial Zone.
The Eagle Area had never previously been tested with diamond drilling and has returned a highlight discovery hole DDH21-020 at Eagle South of 15.7 gpt gold over 24.8 m, including 26.96 gpt gold over 4.1 m.
Also, the Eagle Zone was extended to the southeast with 8.62 gpt gold over 24.4 m including 17.02 gpt gold over 4.3 m.
Robert T. Boyd, CEO, stated: "Our maiden 2021 diamond drilling program at Reliance was very successful with 16 of our 22 drill holes returning significant gold intersections and four of these drill holes returning gold intersections exceeding 100 gram-metres. This is an excellent success percentage for a maiden drilling program on an Orogenic gold system. These four top quality holes are distributed amongst three strong gold-bearing zones over 750 metres of trend along the Royal Shear. Additional holes reported today, together with drill hole DDH21-020 which returned the best intersection to date of 15.7 grams per tonne gold over 24.8 metres, collectively confirm a newly recognized steeply dipping structural target at Eagle South that will need to be followed up aggressively with drilling."
The company has a number of other highly prospective North American mineral properties which management considers have the potential to develop world-class deposits
For more information, please visit the company’s website, www.EnduranceGold.com, contact Robert T. Boyd, President and CEO, at 604-682-2707 or by email at info@EnduranceGold.com.
I’m Katriina Cotten for Investmentpitch Media
