New Discovery At The Russian Border
Endomines has just released drill results from a new prospect at the Karelian Gold Line in eastern Finland. I’ve been working on another article, but the company might be onto something here, so I thought it best to get this out quickly.
Endomines is, to date, a small gold producer operating the Pampalo gold mine, and holds a dominant land position along the entire greenstone belt. Over the past few years, Endomines has ramped up its exploration activities with the goal of building a resource base of 1 million ounces. This strategy has already led to multiple new discoveries, including at the Kartitsa prospect in the northern part of the belt.
In February this year, the company reported that mapping and outcrop sampling revealed gold mineralization over a broad area at new prospect called Ukkolanvaara. Interestingly, the mineralization at Ukkolanvaara appears to be associated with locally occurring banded iron formations—an ideal host rock for gold deposits within a sheared greenstone belt.
Last week, the company reported assay results from the first drill hole testing the outcropping mineralization. As shown below, Endomines intersected what I would describe as high-grade gold mineralization, essentially at surface.
Intersections in Drill Hole UKKO-001:
30.95m @ 3.28g/t Au from 45.55m, including 9.35m @ 7.08g/t Au from 48.45m,
20.00m @ 1.60g/t Au from 16.20m, including 1.75m @ 5.52g/t Au from 18.95m and 3.05m @ 4.07g/t Au from 26.90m
6.30m @ 2.67g/t Au from 3.35m, including 1.2m @ 9.90g/t Au from 5.00m
To date, 12 holes totaling a few thousand meters have been drilled, but assay results—aside from hole one—are still pending. However, the company has reported visible gold in multiple drill holes. Notably, visible gold was observed in hole UKKO-005, located more than 300 meters north of the high-grade intercepts in hole one, along the same magnetic high anomaly.
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Disclaimer: This article is for informational purposes only and should not be considered investment advice. Always conduct your own due diligence before making any investment decisions.