Mining’s old guard needs strong medicine
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Endomines has carried out the planned exploration drilling programme at its properties along Karelian Gold Line, near Ilomantsi, in Eastern Finland.
The Company is pleased to release assay results received from all drilled areas outside Pampalo permit area, which have not been previously published. The results include encouraging assays from the northern part of Hosko (HOS-50 4,3 m@4,4 g/t gold, HOS-55 7,0 m@2,7 g/t gold and HOS-64 3,3m @4,4 g/t gold) and especially from the Korvilansuo- Muurinsuo area where a wide scouting program has been carried out (Eli-4 4,0m @1,3 g/t gold and 5,5m @1,2 g/t gold,Kiv-17 7,0m @1g/t gold and 6, 0 m@1,1 g/t gold, KVS-65 6,9m @2, 6 g/t gold and 3 m@4,7 g/t gold).
One half (66 holes) were drilled as scouting holes at Hosko, Korvilansuo-Muurinsuo area and Nenävaara. The rest of holes were drilled to update the known resources at Hosko, Korvilansuo, Muurinsuo and Rämepuro. The mineral rights of the drilled properties are fully owned by the Company.
As pointed out in previous press releases, 2013 was a favourable year for exploration works. Since most companies reduced their exploration programs during 2013 due to the general recession in the mining business, contractors with drilling rigs as well as assay services were available for reasonable rates. Thus Endomines was able to carry out an extensive exploration campaign and the Company is still processing and interpreting the results of the campaign
“It is very encouraging that many of the scouting holes across the Korvilansuo- Muurinsuo area have intersected gold mineralisations. This confirms our view that large scale ore forming processes have been in place around the Kuittila Tonalite. The data will now be thoroughly evaluated and form the basis for a prioritization of continued work once the financial situation has improved”, comments Markus Ekberg, CEO of Endomines.
The presented drillings aimed to discover new or extend the previously discovered target areas. Totally 125 diamond core holes were drilled. The total amount of drilling meters was 13,254. All of the cores have been logged and 10,756 samples have been sent for assays. Assay results of 10,708 samples have been received until 29th of January. The assay results and drill hole details are tabulated in Appendix 1.
Assay results and technical parameters of all presented holes can be found on Endomines website, http://www.endomines.com/index.php/karelian-gold-line/exploration-2013/drilling-results-11-february-2014.
