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TICKERS: EDG; ENDGF; 3EG

High Grade Intercepts From All Holes at This Gold Project
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Endurance Gold Corp (EDG:TSX.V; ENDGF:OTCPink; 3EG:Frankfurt) recently reported assay results showing high-grade gold intersections from all six drill holes, according to an Atrium Research note.

Atrium Research analysts Ben Pirie and Nicholas Cortellucci, in a research report published on September 17, 2024, provided an update on Endurance Gold Corp (EDG:TSX.V; ENDGF:OTCPink; 3EG:Frankfurt) following the company's announcement of assay results from its first six diamond drill holes at the Reliance Gold Project. The analysts maintained their Buy rating and target price of CA$0.50 on the stock.

Endurance Gold reported high-grade gold intersections from all six drill holes, with highlights including:

  •  2.2 grams per tonne gold (g/t Au) over 12.1 meters (m), including 12.0 g/t over 0.6m and 7.9 g/t over 1.1m
  • 5.4 g/t Au over 4.1m, including 11.2 g/t over 1.2m
  • 1.9 g/t Au over 12.3m, including 7.5 g/t over 1.0m and 5.1 g/t over 2.0m
  • 6.8 g/t Au over 4.3m, including 13.7 g.t over 2.0m
  • 3.3 g/t Au over 4.3m
  • 4.0 g/t Au over 4.7m, including 6.7 g/t over 1.0m

The analysts noted, "Today's results confirm high-grade at-depth (~175m vertical) and extends the Imperial Zone ~100m to the northwest along strike (still open)." They added, "Based on the results reported today, the Imperial Zone has been expanded along strike for over 100m to the northwest where it remains open."

Pirie and Cortellucci expressed enthusiasm about the results, stating, "We are excited by today's results as they kick off another season of strong drill results from the Reliance Project, with assays rolling out until the new year."

The analysts highlighted the company's ongoing 10,000m drill program, of which 3,500m has been completed to date. They noted, "We remind readers that the 10,000m program (~6,500m of drilling remaining) is fully funded until the end of 2024."

Endurance Gold's strategic focus includes expanding the known mineralization at the Reliance Gold Project and developing an inaugural mineral resource estimate. The company is also conducting geochemical sampling and prospecting to develop additional targets in the Upper Eagle area and advancing surface work at the Olympic area.

Atrium Research's valuation methodology for Endurance Gold is not explicitly stated in the provided excerpt. However, the analysts maintain their target price of CA$0.50 per share, representing a potential return of 233% from the price at the time of the report.

With a Buy rating and a target price of CA$0.50, Atrium Research sees significant upside potential for Endurance Gold. The analysts concluded, "We are maintaining our Buy rating and target price of CA$0.50/share on EDG," emphasizing the company's potential as a "Multi-Million-Ounce High-grade deposit in the making" with an "Epizonal orogenic gold system with consistent and best-in-class drill results."


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  1.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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Disclosures for Atrium Research, Endurance Gold, September 17, 2024

Analyst Certification Each authoring analyst of Atrium Research on this report certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated securities discussed (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the research, (iii) to the best of the authoring analyst’s knowledge, she/he is not in receipt of material non-public information about the issuer, (iv) the analyst does not own common shares, options, or warrants in the company under coverage, and (v) the analysts adhere to the CFA Institute guidelines for analyst independence.

About Atrium Research Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. For further information on our team, please visit https://www.atriumresearch.ca/team.

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