Inside information: Endomines reports high-grade exploration results from Kartitsa
Endomines Finland Plc – Stock Exchange Release, Inside information – 1/8/2024, at 11.15 EET.
Inside information: Endomines reports high-grade exploration results from Kartitsa
Endomines reports results from the exploration drilling program carried out in the spring-summer 2024 at Kartitsa, in the northern part of the Karelian Gold Line. The program consisted of 12 drill holes for a total of 2099.65 meters. The results, highlighted below, confirm the high-grade potential and extensiveness of the newly discovered Kartitsa gold system. Endomines reported results of the Kartitsa base of till sampling program in February 2024 and those results were utilized to plan the drilling campaign now completed.
The discovery of high-grade, near-surface gold mineralized zones North of the known Kartitsa mineralization supports further exploration potential in the area. In particular, KA-014 successfully intersected a high-grade gold mineralized zone near the surface and provides an excellent follow-up target. Nine of twelve holes drilled in the area in 2024 returned intercepts above the lower cut-off grade of 0.4 g/t.
Highlights of the spring-summer 2024 Kartitsa drilling program:
- Drill hole KA-014 intersected 13.05 meters at 2.76 g/t gold from 25.90 m
- Including 2.00 meters at 10.92 g/t gold from 30.08 m.
- Drill hole KA-015 intersected 8.40 meters at 2.06 g/t gold from 101.95 m,
- including 0.85 meters at 6.39 g/t gold from 104.70 m
- Drill hole KA-012 intersected 11.40 meters at 1.25 g/t gold from 81.00 m,
- Including 1.10 meters at 3.02 g/t gold from 85.30
"Our exploration team continues to deliver excellent results. Locations we determined based on the recent base of till results led to a successful drilling campaign. We are excited to see that drill hole KA-014 intersected a 2-meter distance of 10,92 g/t gold and over a 13-meter distance of 2,76 g/t gold. The results achieved are excellent results for any drilling campaign but especially promising for an initial, larger drilling campaign in a new area. We see the exploration potential of the Karelian gold line as very significant and will continue our work to define >1M ounce deposits in the area. Our long-term vision is to have several large gold operations in the area, making it a major sustainable gold production area in the world” comments Kari Vyhtinen, CEO of the company.
The significant drill intersections from the Kartitsa 2024 drilling program are presented in Table 1 and the locations of the new drill holes are presented in the map (Figure 1).
Geology
The gold mineralization discovered in Kartitsa occurs as a pyrite +- magnetite assemblage within strongly altered (potassic alteration) volcanic and sedimentary rocks overlying the Kartitsa intrusive. The strong potassic alteration in the area proximal to the Kartitsa intrusive consists of microcline, biotite, and sericite while the pervasive distal alteration observed through all the holes drilled in the area consists of sericite only. The scale and intensity of the pervasive potassic alteration and the magnetic anomalies observed on the rim of the Kartitsa intrusive support the potential for a significant gold deposit.
Karelian Gold Line
The Karelian Gold Line is 40 kilometers long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometers northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. The Pampalo mine has produced 190,000 ounces of gold at an average grade of 3.6 g/t. Endomines controls 100% of the exploration rights covering over 100 km2 across the Karelian Gold Line.
Drilling technical
All surface drilling has been carried out by KDC Oy, using WL-66 tubes, resulting in a core of 50.5 mm in diameter. Drill hole locations have been surveyed by using mine survey equipment. A downhole survey of bearing and dip deviations has been completed with the SPT GyroMaster survey tool. All cores have been oriented with SPT CoreMaster equipment.
Assay and QA/QC procedures
The drill cores have been logged by Endomines' personnel. The drill cores have been cut in half by Palsatech Oy in Sodankylä prior to shipping to Labtium laboratory in Sodankylä. Samples were sent to Eurofins Labtium laboratory in Sodankylä for preparation and analysis of 705P (Gold), and 304PM1 (multi-element). When deemed necessary by the laboratory (when adequate fusion of the sample was not achieved) gold was assayed with 703P or 704P methods.
Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards, blanks and duplicates routinely submitted as part of the sampling program. The quality of sample preparation, security integrity and chemical assays was equal to, or exceeded, current industrial standards and the requirements of the JORC-code.
Competent Person
This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person in compliance with the Fennoscandian Association for Metals and Mining Professionals, FAMMP, –standards. Jani Rautio is a full-time employee of Endomines and owns 2,000 shares in Endomines.
Figure 1) Location map of the 2024 drilling program drill holes collars in relation to existing holes prior to the 2024 drilling campaign, gold concentration in a base of till, and Total Magnetic Intensity map obtained by UAV magnetic survey at Kartitsa, Karelian Gold Line.
Table 1) Diamond drilling results 2024 from Kartitsa, Karelian Gold Line, Finland.
| Hole ID | Northing | Easting | Elevation | Azimuth (°) | Dip (°) | Length (m) | From (m) | To (m) | Downhole length (m) | Au (g/t) |
| KA-005 | 7005801.0 | 710660.2 | 184.4 | 78.7 | -44.8 | 140.20 | 18.20 | 19.30 | 1.10 | 0.48 |
| 44.05 | 45.15 | 1.10 | 0.43 | |||||||
| 83.00 | 85.10 | 2.10 | 0.80 | |||||||
| 104.15 | 107.00 | 2.85 | 2.38 | |||||||
| Including | 105.00 | 105.80 | 0.80 | 5.35 | ||||||
| 113.45 | 114.55 | 1.10 | 0.78 | |||||||
| KA-006 | 7006017.0 | 710756.3 | 185.4 | 263.3 | -44.9 | 170.00 | 89.25 | 92.60 | 3.35 | 0.57 |
| KA-007 | 7006028.1 | 710827.7 | 190.0 | 256.8 | -45.3 | 151.70 | No significant intersection | |||
| KA-008 | 7006038.4 | 710888.4 | 194.1 | 259.4 | -45.5 | 121.50 | No significant intersection | |||
| KA-009 | 7006126.8 | 710794.6 | 184.6 | 261.6 | -45.5 | 199.70 | 89.70 | 90.80 | 1.10 | 5.18 |
| 118.70 | 119.50 | 0.80 | 0.60 | |||||||
| 152.80 | 156.00 | 3.20 | 0.66 | |||||||
| 169.70 | 170.55 | 0.85 | 0.49 | |||||||
| 185.10 | 186.25 | 1.15 | 0.65 | |||||||
| KA-010 | 7006144.0 | 710885.3 | 188.4 | 260.8 | -43.7 | 211.65 | No significant intersection | |||
| KA-011 | 7006119.1 | 710502.6 | 180.4 | 85.3 | -44.9 | 160.20 | 52.50 | 54.50 | 2.00 | 0.59 |
| 69.35 | 70.35 | 1.00 | 4.86 | |||||||
| KA-012 | 7006354.8 | 710575.8 | 182.8 | 81.0 | -45.7 | 199.75 | 28.20 | 29.35 | 1.15 | 2.11 |
| 81.00 | 92.40 | 11.40 | 1.25 | |||||||
| Including | 85.30 | 86.40 | 1.10 | 3.02 | ||||||
| 119.20 | 122.75 | 3.55 | 1.30 | |||||||
| Including | 121.85 | 122.75 | 0.90 | 3.05 | ||||||
| 136.50 | 137.60 | 1.10 | 0.78 | |||||||
| KA-013 | 7006338.8 | 710477.9 | 182.2 | 77.8 | -44.2 | 220.70 | 78.50 | 80.35 | 1.85 | 0.86 |
| 92.60 | 94.75 | 2.15 | 0.98 | |||||||
| 113.20 | 114.25 | 1.05 | 0.54 | |||||||
| 196.30 | 203.20 | 6.90 | 0.96 | |||||||
| KA-014 | 7007003.0 | 710750.0 | 185.7 | 260.1 | -44.5 | 139.65 | 12.40 | 19.90 | 7.50 | 1.02 |
| Including | 16.70 | 17.85 | 1.15 | 2.75 | ||||||
| and | 18.90 | 19.90 | 1.00 | 2.90 | ||||||
| 25.90 | 38.95 | 13.05 | 2.76 | |||||||
| Including | 30.80 | 32.80 | 2.00 | 10.92 | ||||||
| and | 38.05 | 38.95 | 0.90 | 2.89 | ||||||
| KA-015 | 7006439.2 | 710590.2 | 183.3 | 79.0 | -47.1 | 182.10 | 68.05 | 78.90 | 10.85 | 0.99 |
| Including | 68.05 | 69.10 | 1.05 | 2.18 | ||||||
| and | 74.10 | 75.10 | 1.00 | 3.21 | ||||||
| 101.95 | 110.35 | 8.40 | 2.06 | |||||||
| Including | 104.70 | 105.55 | 0.85 | 6.39 | ||||||
| 114.90 | 115.90 | 1.00 | 0.43 | |||||||
| 174.10 | 175.10 | 1.00 | 0.48 | |||||||
| KA-016 | 7006278.8 | 710573.4 | 181.4 | 80.3 | -46.1 | 202.55 | 94.80 | 97.70 | 2.90 | 0.70 |
| 105.40 | 112.55 | 7.15 | 0.63 | |||||||
| Including | 110.45 | 111.55 | 1.10 | 2.32 | ||||||
| 122.30 | 123.30 | 1.00 | 1.31 | |||||||
| 144.20 | 145.05 | 0.85 | 1.51 | |||||||
Note: A lower cut-off of 0.4 g/t Au and a maximum 5 m consecutive internal dilution was used for reporting. No upper cut-off grade was applied, and all figures were rounded up. True widths are not yet determined.
Endomines Finland Plc
Further information
Kari Vyhtinen, CEO Endomines Finland Plc
kari.vyhtinen@endomines.com, +358 40 585 0050
Jani Rautio, Head Geologist Endomines Finland Plc
jani.rautio@endomines.com, +358 50 593 0812
Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal is to grow the Karelian gold line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.