Close watch of the Pardo PropertyThe Pardo Property covers the southern flank of a large Proterozoic sedimentary basin that is analogous in many ways to the Witwatersrand Basin in South Africa. The Witwatersrand Basin is the world's largest gold producing geological environment, with over 1.3 billion ounces of gold production since 1880. In terms of size, stratigraphy and depositional environment, the two basins have several similarities. There are significant differences as well, primarily in the age of the two basins, with the Cobalt Embayment being significantly younger than the Wits Basin. Regardless, the widespread occurrence of low grade gold mineralization within the basal conglomerate on the Pardo Property, and the potential size of the target, warrants serious further work.
Under the terms of the agreement, Endurance can earn a 100% interest in the property, subject to a 3% NSR, by making $100,000 in cash payments and issuing 200,000 shares over a four year period. An additional payment of $5,136 will be made to an underlying vendor of the property, for out-of pocket staking costs. One of the Vendors of the Property is a Director and Officer of Endurance.
Endurance Gold Corporation has also acquired, by staking, a three claim, 768 hectare property in Turner Township, located 40 kilometres NNW of the Pardo Property, and covering a similar geologic environment.
Duncan McIvor, P. Geo., is the Qualified Person under National Instrument 43-101, and is responsible for the content of this page.
This companies SP moves very quickly....as it did in July 2009 with the Rattlesnake Hills news from EVG.