- Endurance Gold Corporation (EDG) has acquired the Sanchez Group of ten mineral claims totalling 856 hectares
- The Sanchez claims adjoin the eastern boundary of the company’s Reliance Gold Project in southern British Columbia
- With this, the Reliance Gold Project now consists of three option agreements (Sanchez, Olympic, and Reliance) where the company is earning 100-per-cent interest
- No underlying royalty is involved in the transaction
- Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties
- Endurance Gold Corporation was up 2.632 per cent, trading at $0.39 at 11:12 AM ET
Endurance Gold Corporation (EDG) has acquired the Sanchez claims.
The Sanchez Group of ten mineral claims totals 856 hectares.
The Sanchez claims adjoin the eastern boundary of the company’s Reliance Gold Project in southern British Columbia, on which the company is currently focusing its diamond drilling activities.
The Reliance Gold Project is located 4 kilometres east of the village of Gold Bridge and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp, which has produced over four million ounces of gold.
With this, the Reliance Gold Project now consists of three option agreements (Sanchez, Olympic, and Reliance) where the company is earning 100-per-cent interest.
No underlying royalty is involved in the transaction.
The acquisition has increased the size of the Reliance Gold Project to 3,250 hectares. The company now controls approximately eight km of mineral claims along the Upper Bridge River Valley with year-round road access.
It adds an additional under-explored orogenic gold prospect that has not been evaluated with modern exploration methods and offers potential for extensions of gold mineralized structures on the Olympic Option.
A preliminary field review of the Sanchez claims has identified ankerite-altered shear zones recently exposed by ongoing forestry activity.
Under the terms of the letter agreement with the private vendor, the company can earn a 100-per-cent interest in the Sanchez claims for a total cash consideration in the aggregate amount of $10,000 prior to January 31, 2023, with $5,000 payable on TSX Venture Exchange acceptance.
It also involves the allotment and issuance of a total of 300,000 common shares of the company by December 31, 2025, with 40,000 shares payable on TSX Venture Exchange acceptance.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties.
Endurance Gold Corporation was up 2.632 per cent, trading at $0.39 at 11:12 AM ET.
