Enduro Metals (ENDR) has discovered a new alkalic porphyry system at its Burgundy Ridge target.
The target is located on the company’s Newmont Lake Project in northwestern British Columbia.
A test hole at the site returned 331 metres of 0.71 per cent copper equivalent (CuEq) starting at surface, including 146 metres of 1.00 per cent CuEq from 139 metres downhole.
The hole was drilled to test an area with some shallow drill holes and high-grade trenches within an extensive geochemical/geophysical anomaly.
The drill hole confirms a new copper-gold porphyry discovery in British Columbia’s Golden Triangle.
“This discovery drill hole at Burgundy is a pivotal moment for Enduro and the Newmont Lake projects development, confirming the occurrence of a significant alkalic copper-gold porphyry deposit. This is a true grassroots discovery, and we are at the very beginning of the process. What I find exciting is the transitioning alteration of calc-sodic to calcic and calc-potassic assemblages and also minor amounts of zinc suggesting Burgundy Ridge is on the fringes of a large system, and we likely have not tested the best portions of the porphyry. The combination of grade, size, and accessible location of the discovery makes Burgundy a top-tier copper-gold exploration target, sandwiched between two world-class porphyry camps at Galore Creek and KSM,” said Enduro Metals President and CEO Cole Evans.
Enduro Metals is scheduled to provide an update on its exploration program, including the recent discovery and future plans during a webinar on Wednesday, October 20.
Enduro Metals is down 5.88 per cent, trading at $0.24 at 1:36 pm ET.