Regulatory Filings • Feb 11, 2014
Regulatory Filings
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Endomines AB Press Release Stockholm, 11th February 2014
Endomines has carried out the planned exploration drilling programme at its properties along Karelian Gold Line, near Ilomantsi, in Eastern Finland.
The Company is pleased to release assay results received from all drilled areas outside Pampalo permit area, which have not been previously published. The results include encouraging assays from the northern part of Hosko (HOS-50 4,3 m@4,4 g/t gold, HOS-55 7,0 m@2,7 g/t gold and HOS-64 3,3m @4,4 g/t gold) and especially from the Korvilansuo- Muurinsuo area where a wide scouting program has been carried out (Eli-4 4,0m @1,3 g/t gold and 5,5m @1,2 g/t gold,Kiv-17 7,0m @1g/t gold and 6, 0 m@1,1 g/t gold, KVS-65 6,9m @2, 6 g/t gold and 3 m@4,7 g/t gold).
One half (66 holes) were drilled as scouting holes at Hosko, Korvilansuo-Muurinsuo area and Nenävaara. The rest of holes were drilled to update the known resources at Hosko, Korvilansuo, Muurinsuo and Rämepuro. The mineral rights of the drilled properties are fully owned by the Company.
As pointed out in previous press releases, 2013 was a favourable year for exploration works. Since most companies reduced their exploration programs during 2013 due to the general recession in the mining business, contractors with drilling rigs as well as assay services were available for reasonable rates. Thus Endomines was able to carry out an extensive exploration campaign and the Company is still processing and interpreting the results of the campaign
"It is very encouraging that many of the scouting holes across the Korvilansuo- Muurinsuo area have intersected gold mineralisations. This confirms our view that large scale ore forming processes have been in place around the Kuittila Tonalite. The data will now be thoroughly evaluated and form the basis for a prioritization of continued work once the financial situation has improved", comments Markus Ekberg, CEO of Endomines.
The presented drillings aimed to discover new or extend the previously discovered target areas. Totally 125 diamond core holes were drilled. The total amount of drilling meters was 13,254. All of the cores have been logged and 10,756 samples have been sent for assays. Assay results of 10,708 samples have been received until 29th of January. The assay results and drill hole details are tabulated in Appendix 1.
Assay results and technical parameters of all presented holes can be found on Endomines website, http://www.endomines.com/index.php/karelian-gold-line/exploration-2013/drilling-results-11-february-2014.
Karelian Gold Line is located in the easternmost part of Finland in Ilomantsi municipality. Karelian Gold Line is an array of gold deposits and occurrences along the Hattu Schist belt, a part of the more than 200 kilometres long, N-S trending Ilomantsi-Kostamuksha greenstone belt, which is late Archaean (2750 my) in age and one of the best preserved Archaean supracrustal sequences in Finland.
The bedrock is dominated by metasediments with lesser amounts of komatites, tholeitic basalts and calc-alkaline rocks. All above mentioned lithologies are intruded by typical Archaean tonalite-trondhjemite-
granodiorite series rocks and metamorphosed at upper greenschist-lower amphibolite conditions.
Gold mineralization´s occurs with sulphide disseminations in quartzcarbonate veins and shear zones in hydrothermally altered tonalites, quartz-feldspar porphyry dykes, quartz-tourmaline veins/breccia´s and mica schist's.
The drillings 2013 has been carried out at Hosko, Nenävaara, Rämepuro and Korvilansuo-Muurinsuo areas along KGL.
The Hosko deposit is the northernmost identified gold mineralisation along the Karelian Gold Line. The deposit lies approximately 10 kilometres north of the Pampalo mine.
The Hosko Formation that hosts the deposit consists of seritised feldspathic greywacke´s with garnet porphyroblasts, metapelitic units, and thin metabasaltic and ultramafic horizons that northwards become more abundant. These rocks are strongly deformed and hydrothermally altered, but primary layering and textures have been preserved in areas where deformation has been weaker.
The area is entirely covered by 5-7 m thick till and there are no outcrops in the area. The gold mineralization at Hosko is hosted by metagreywacke in zones of intensely deformed quartz-tourmaline (-feldspar) veins forming sub-vertical lodes.
The present drillings have yielded the following, previously not published, intersections.
Karelian Gold Line Known Gold showings
| Drillhole | Coord. North (m) |
Coord.East (m) |
Coord. Z (m) |
Length (m) |
AZI (deg) |
Dip (deg) |
from | Mineralisation to (m) |
Interval length (m) |
Gold (g/ton) |
Purpose |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HOS-44 | 7000490,0 | 710861,7 | 203,4 | 170,7 | 91,0 | -55,5 | 141,0 | 146,1 | 5,2 | 1,3 | Depth ext |
| HOS-47 | 7000489,7 | 710856,0 | 203,4 | 200,9 | 89,7 | -70,1 | No significant values | Depth ext | |||
| HOS-48 | 7000708,5 | 710874,1 | 196,6 | 150,0 | 91,4 | -70,5 | 117,1 | 122,1 | 5,0 | 3,1 | Depth ext |
| HOS-49 | 7000734,1 | 710892,5 | 199,2 | 110,2 | 101,0 | -52,3 | 62,7 | 63,7 | 1,0 | 2,0 | Depth ext |
| 65,7 | 68,7 | 3,0 | 2,1 | ||||||||
| Scout | |||||||||||
| HOS-50 | 7000939,5 | 710829,7 | 192,6 | 140,9 | 97,8 | -66,4 | 101,3 | 101,9 | 0,6 | 1,3 | North |
| 110,8 | 111,8 | 1,0 | 2,8 | ||||||||
| 118,3 | 122,5 | 4,3 | 4,4 | ||||||||
| HOS-51 | 7001107,8 | 710906,2 | 192,5 | 122,6 | 97,8 | -45,1 | No significant values | Scout North |
|||
| Scout | |||||||||||
| HOS-52 | 7001188,7 | 710884,7 | 194,5 | 123,3 | 98,7 | -45,2 | 46,4 | 47,4 | 1,0 | 1,2 | North |
| 54,6 | 55,6 | 1,0 | 1,3 | ||||||||
| 68,5 | 69,5 | 1,0 | 1,2 | ||||||||
| 80,5 | 81,5 | 1,0 | 1,9 | ||||||||
| HOS-53 | 7001284,1 | 710879,5 | 192,5 | 131,0 | 101,5 | -44,8 | 46,0 | 47,0 | 1,0 | 2,2 | Scout North |
| Scout | |||||||||||
| HOS-54 | 7001686,9 | 710866,9 | 193,3 | 101,7 | 99,2 | -45,6 | assays pending | North Scout |
|||
| HOS-55 | 7000923,7 | 710864,3 | 193,3 | 152,6 | 105,4 | -55,5 | 52,6 | 59,5 | 7,0 | 2,7 | North |
| Scout | |||||||||||
| HOS-56 | 7001340,9 | 710835,1 | 191,9 | 99,1 | 101,2 | -45,4 | 20,7 | 24,6 | 3,9 | 1,9 | North Scout |
| HOS-57 | 7001375,6 | 710873,4 | 192,1 | 140,3 | 99,3 | -44,8 | No significant values | North | |||
| HOS-58 | 7001381,5 | 710945,6 | 192,6 | 86,5 | 100,5 | -45,5 | No significant values | Scout North |
|||
| Scout | |||||||||||
| HOS-59 | 7000474,4 | 711019,4 | 212,1 | 131,4 | 99,6 | -45,8 | 18,9 | 20,4 | 1,6 | 2,1 | South |
| HOS-60 | 6999848,7 | 710970,2 | 224,0 | 122,7 | 88,2 | -46,1 | No significant values | Scout South |
|||
| Scout | |||||||||||
| HOS-61 | 6999491,3 | 710997,1 | 225,2 | 121,9 | 93,0 | -45,6 | No significant values | South | |||
| HOS-62 | 6999492,2 | 710815,8 | 217,0 | 140,3 | 90,6 | -45,4 | No significant values | Scout South |
|||
| Scout | |||||||||||
| HOS-63 | 7001339,1 | 710795,3 | 192,0 | 101,6 | 92,0 | -43,9 | 46,7 | 50,7 | 4,0 | 2,2 | North |
| or | 46,7 | 47,7 | 1,0 | 7,4 | |||||||
| HOS-64 | 7001419,9 | 710811,5 | 192,0 | 79,7 | 90,7 | -45,8 | 18,1 | 21,4 | 3,3 | 4,4 | Scout North |
| 31,0 | 32,1 | 1,1 | 1,0 | ||||||||
| Scout | |||||||||||
| HOS-65 | 7001380,0 | 710813,4 | 192,0 | 80,4 | 90,7 | -45,9 | 22,0 | 24,3 | 2,3 | 1,4 | North |
| HOS-66 | 7001300,0 | 710817,1 | 192,0 | 80,5 | 90,7 | -45,5 | 15,2 | 16,0 | 0,8 | 1,4 | Scout North |
| HOS-67 | 7001260,1 | 710819,0 | 192,0 | 79,7 | 90,7 | -44,6 | No significant values | Scout North |
Nenävaara prospect is situated in the Tiittalanvaara Formation about two kilometres south of Pampalo.The geology is very similar to that of Pampalo area (Pampalo Formation) and consists of polymictic metaconglomerates and greywacke's, but also andesitic tuff, banded iron formations and mafic to ultramafic rocks, namely talc-chlorite schist. On the geophysical aeromagnetic map it appears in both structurally and geologically "mirror position" compared to Pampalo.
At Nenävaara, gold is associated with quartz-tourmaline veins and breccia's, along with arsenopyrite and occasionally with chalcopyrite. There are also several anomalous till and peat samples confirming presence of gold mineralisation. The carried out drillings however didn't reveal any economically interesting intersections with gold mineralization.
The Korvilansuo Formation is lithologically less diverse than other formations that occur along the Karelian Gold Line consisting mainly of metamorphosed volcano-sedimentary rocks intruded by porphyry dikes.
Muurinsuo, Elinsuo, Kivisuo and Korvilansuo mineralisation's belong to the Korvilansuo Formation, and from the geological point of view there are only slight differences between them. All of these gold prospects are controlled by a NE-SW trending gold-bearing shear zone system that extends from Muurinsuo throughout Elinsuo and Kivisuo to Korvilansuo to the south, about 15 -25 km south of Pampalo.
The Muurinsuo deposit is located approximately 15km south of the Pampalo Mine. The rocks at Muurinsuo prospect consist predominantly of seritised greywacke's, and mica schist's, intermediate to mafic tuff, and intruded feldspar porphyry dikes.
Gold mineralisation is associated with narrow shear zones in mafic tuff along the contact to porphyry dikes with disseminated pyrite, pyrrhotite, arsenopyrite and scheelite. Hydrothermal alteration includes mainly silicification and tourmalinisation of both hosting lithologies.
| Hole-ID | Coord. | Coord. | Coord. | Length | AZI | Dip | Mineralisation Interval |
Gold | Purpose | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| North (m) | East (m) | Z (m) | (m) | (deg) | (deg) | from | to (m) | length (m) | (g/ton) | ||
| MU-34 | 6974040,9 | 715647 | 180,5 | 74,6 | 159,2 | -49,5 | 37,4 | 43,4 | 6 | 1,2 | North |
| 73,3 | 74,6 | 1,3 | 1,7 | ||||||||
| MU-35 | 6974040,4 | 715616,9 | 180,2 | 61 | 162,9 | -42,7 | 29,5 | 37,2 | 7,7 | 1 | North |
| MU-36 | 6972901,7 | 716170,5 | 174,7 | 102,7 | 93,5 | -45,6 | No significant values | North | |||
| MU-37 | 6973119,4 | 716471,6 | 181,2 | 99,9 | 93,9 | -44,2 | No significant values | North | |||
| MU-38 | 6973871,1 | 715474 | 179,6 | 61,3 | 130,5 | -44,7 | 22,6 | 27,7 | 5,1 | 4,3 | North |
| 45,2 | 46,2 | 1 | 1,6 | ||||||||
| 58,2 | 59,2 | 1 | 3,7 | ||||||||
| MU-39 | 6973947,9 | 715509,2 | 180,2 | 62 | 136,8 | -45,9 | 27,7 | 33,5 | 5,8 | 1,1 | North |
| 44,6 | 48,9 | 4,3 | 1,5 | ||||||||
| MU-40 | 6974025,5 | 715542,8 | 179,9 | 50,5 | 134,4 | -44,3 | 35,3 | 39,3 | 4 | 1,1 | North |
The Elinsuo gold prospect is located approx. 1 kilometre southwest of Muurinsuo along the same shear zone and is regarded as the southern continuation of the same mineralization system. The lithology at Elinsuo is almost identical to Muurinsuo characterized by tightly foliated mica schist's with greywacke and mafic tuffitic interbeds. Gold is present in thin quartz-tourmaline-pyrite veins in hydrothermally altered chlorite-sericite schist's and in porphyry dikes. The quartz-plagioclase porphyry dikes are strong sheared commonly showing pyrite dissemination, silicification and tourmalinisation. Alteration in the north-eastern part is less pronounced and the mica schist's contains well preserved greywacke and polymictic conglomerate.
| Hole-ID | Coord. | Coord. | Coord. | Length | AZI | Dip | Mineralisation | Interval | Gold | Purpose | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| North (m) | East (m) | Z (m) | (m) | (deg) | (deg) | from | to (m) | length (m) | (g/ton) | ||
| ELI-4 | 6973056,5 | 714721,77 | 180 | 101 | 126,7286 | -71,2384 | 36,1 | 37,4 | 1,3 | 1,1 | Scout |
| 72 | 76 | 4 | 1,3 | ||||||||
| 83 | 88,5 | 5,5 | 1,2 | ||||||||
| ELI-5 | 6972472,48 | 713997,84 | 178,296 | 111,5 | 148,2 | -44,7 | No significant values | Scout | |||
| ELI-6 | 6972858,451 | 714920,315 | 177,42 | 150,9 | 136,1853 | -45,8308 | No significant values | Scout | |||
| ELI-7 | 6972928,777 | 714848,604 | 178,612 | 149,4 | 133,4456 | -46,1618 | No significant values | Scout | |||
| ELI-8 | 6972998,496 | 714780,267 | 179,992 | 149,4 | 136,7184 | -46,0997 | No significant values | Scout | |||
| ELI-9 | 6973306,627 | 714924,072 | 179,534 | 149,4 | 137,1497 | -45,8356 | No significant values | Scout | |||
| ELI-10 | 6973214,482 | 715014,561 | 180,079 | 149,4 | 135,6835 | -47,5696 | No significant values | Scout | |||
| ELI-11 | 6973145,172 | 715085,323 | 178,554 | 150,4 | 135 | -46,1 | No significant values | Scout |
At Kivisuo, disseminated gold mineralization occurs within silicified, chloritized and seritised tourmalinebearing mica schist's as well as in the adjacent, hydrothermally altered porphyritic tonalite dikes. Some gold mineralization is also found in thin intercalations of iron sulphide-rich layers of felsic conglomerate. Gold is generally associated with pyrite, arsenopyrite and tellurides.
| Hole-ID | Coord. | Coord. | Coord. | Length | AZI | Dip | Mineralisation | Interval | Gold | Purpose | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| North (m) | East (m) | Z (m) | (m) | (deg) | (deg) | from | to (m) | length (m) | (g/ton) | ||
| KIV-1 | 6970769,8 | 713074,1 | 182,6 | 149,4 | 136,2 | -45 | No significant values | Scout | |||
| KIV-2 | 6970836,6 | 713005,7 | 179,6 | 119,6 | 138,7 | -46,1 | No significant values | Scout | |||
| KIV-3 | 6970893,5 | 712950 | 179,2 | 139,7 | 138,2 | -45 | 65,7 | 66,1 | 0,4 | 1 | Scout |
| KIV-4 | 6971237,7 | 713621,8 | 178,7 | 154,4 | 136,3 | -46,1 | Assays pending | Scout | |||
| KIV-5 | 6971322,9 | 713532,9 | 179,9 | 150 | 140,3 | -45,7 | 43,6 | 44,6 | 1 | 1,1 | Scout |
| KIV-6 | 6971395,5 | 713462,6 | 178,1 | 150,5 | 139,3 | -44,5 | 18,2 | 19,2 | 1 | 1 | Scout |
| KIV-7 | 6971465,7 | 713390,6 | 178 | 177,7 | 137,3 | -44,8 | No significant values | Scout | |||
| KIV-8 | 6971534,5 | 713323,3 | 177,4 | 150,4 | 137,4 | -45 | 65,6 | 66,6 | 1 | 1,6 | Scout |
| 72 | 73 | 1 | 5,3 | ||||||||
| KIV-9 | 6971923,1 | 713973,3 | 175,8 | 150,4 | 139,4 | -44,7 | 48,6 | 49,6 | 1 | 1,3 | Scout |
| 74,8 | 75,8 | 1 | 1,2 | ||||||||
| 106,8 | 107,8 | 1 | 1,2 | ||||||||
| KIV-10 | 6971990,3 | 713903,2 | 176,7 | 179,8 | 135,7 | -44 | 115 | 116 | 1 | 1,8 | Scout |
| 168 | 169 | 1 | 5,3 | ||||||||
| KIV-11 | 6972062,9 | 713832,5 | 175,1 | 154 | 134 | -44,7 | 141,5 | 142,5 | 1 | 2 | Scout |
| 153 | 154 | 1 | 1,4 | ||||||||
| KIV-12 | 6971309,1 | 713518,3 | 177,7 | 103 | 143 | -44,8 | 93 | 94 | 1 | 1 | Scout |
| KIV-13 | 6971351,3 | 713558,5 | 178,7 | 90,9 | 141,7 | -45,8 | No significant values | Scout | |||
| KIV-14 | 6971387,6 | 713622 | 176 | 87,8 | 142,5 | -44,8 | No significant values | Scout | |||
| KIV-15 | 6971153,6 | 713553,8 | 180,1 | 130,4 | 142,7 | -45 | 29 | 30 | 1 | 1,4 | Scout |
| 104,4 | 105 | 0,6 | 1,4 | ||||||||
| KIV-17 | 6971903,8 | 713622,4 | 180 | 99,9 | 135 | -45,2 | 38 | 45 | 7 | 1 | Scout |
| 48 | 54 | 6 | 1,1 | ||||||||
| 67,5 | 68,6 | 1,1 | 1,2 | ||||||||
| KIV-18 | 6971834,3 | 713550,2 | 180 | 94,5 | 135 | -45,2 | No significant values | Scout |
The lithologies at Korvilansuo prospect include mainly bedded turbiditic sediments that vary from feldpathic greywacke to polymictic conglomerates, serisitic schist's, thin mafic volcano clastic intercalations and feldspar porphyry dike. Gold is concentrated in quartz-tourmaline veins hosted by hydrothermally altered metagreywacke and sericite schist. Structurally, these veins are concentrated in the hinge of a fold whose axis plunges steeply to the north. Thin gold-bearing veins are also found in discrete shear zones in the tonalite dike. Within the veins gold is associated with pyrrhotite, arsenopyrite and tellurides.
| Drillhole | Coord. North (m) |
Coord.East (m) |
Coord. Z (m) |
Length (m) |
AZI (deg) |
Dip (deg) |
from | Mineralisation to (m) |
Interval length (m) |
Gold (g/ton) |
Purpose |
|---|---|---|---|---|---|---|---|---|---|---|---|
| East | |||||||||||
| KVS-27 | 6970244,6 | 712595,5 | 178,6 | 90,0 | No significant values | extension East |
|||||
| KVS-29 | 6970110,4 | 712269,8 | 184,4 | 120,2 | 132,7 | -46,0 | No significant values | extension | |||
| KVS-30 | 6970300,4 | 712589,1 | 178,6 | 99,7 | 135,4 | -39,9 | No significant values | Scout South ext. |
|||
| KVS-31 | 6970349,2 | 712536,0 | 178,5 | 69,7 | 131,5 | -37,2 | No significant values | Scout South ext. |
|||
| Scout South | |||||||||||
| KVS-32 | 6970135,0 | 712300,4 | 184,8 | 97,9 | 136,0 135,6 |
-42,9 -41,0 |
85,4 | 87,4 | 2 | 1,3 | ext. Scout South |
| KVS-33 | 6970400,0 | 712570,3 | 178,2 | 105,8 | No significant values | ext. Scout South |
|||||
| KVS-34 | 6970383,1 | 712752,1 | 178,2 | 93,6 | 134,2 | -42,7 | 17,6 | 18,8 | 1,2 | 1,5 | ext. |
| KVS-37 | 6970073,9 | 712310,6 | 183,8 | 67,1 | 135,2 | -44,8 | No significant values | Scout South ext. |
|||
| KVS-38 | 6970099,9 | 712334,5 | 183,7 | 99,7 | 137,2 | -42,4 | 27,5 | 29,5 | 2 | 1,6 | Scout South ext. |
| 48,1 | 57,1 | 9,0 | 1,9 | ||||||||
| Depth | |||||||||||
| KVS-39 | 6970239,5 | 712361,2 | 184,7 | 171,7 | 132,4 | -44,4 | 128,0 | 137,3 | 9,3 | 5,3 | extension |
| KVS-43 | 6970252,2 | 712537,8 | 179,5 | 199,3 | 132,3 | -59,5 | 51,0 | 52,5 | 1,5 | 1,3 | Depth extension |
| 63,0 | 63,9 | 0,9 | 1,4 | ||||||||
| 163,0 | 164,0 | 1,0 | 1,0 | ||||||||
| KVS-46 | 6970223,9 | 712416,7 | 183,3 | 154,4 | 133,0 | -59,2 | 21,8 | 25,9 | 4,1 | 1,9 | Depth extension |
| or | 21,8 | 23,9 | 2,1 | 3,1 | |||||||
| 102,7 | 104,6 | 1,9 | 3,2 | ||||||||
| 117,3 | 119,4 | 2,1 | 1,2 | ||||||||
| 140,6 | 143,1 | 2,6 | 3,4 | ||||||||
| KVS-47 | 6970189,0 | 712363,7 | 184,0 | 99,7 | 136,1 | -49,2 | 82,3 | 83,3 | 1,0 | 1,3 | Depth extension |
| 93,4 | 94,4 | 1,0 | 1,0 | ||||||||
| KVS-51 | 6969866,4 | 713178,9 | 179,3 | 155,4 | 91,6 | -44,2 | 59,0 | 60,0 | 1,0 | 1,8 | Scout |
| 142,0 | 143,0 | 1,0 | 1,3 | ||||||||
| 145,0 | 146,0 | 1,0 | 4,0 | ||||||||
| KVS-55 | 6969731,0 | 713355,9 | 179,8 | 100,8 | 269,8 | -45,8 | 74,9 | 78,8 | 4,0 | 1,1 | Scout |
| KVS-56 | 6970220,8 | 713442,3 | 184,1 | 100,7 | 90,1 | -46,0 | No significant values | Scout | |||
| KVS-61 | 6970220,9 | 713492,3 | 183,6 | 110,0 | 90,3 | -45,0 | No significant values | Scout | |||
| KVS-62 | 6970120,0 | 713413,5 | 184,2 | 78,0 | 92,2 | -44,7 | 100,0 | 102 | 2,0 | 1,0 | Scout |
| KVS-63 | 6970311,6 | 712401,5 | 183,1 | 99,8 | 131,2 | -45,3 | No significant values | Scout-North | |||
| KVS-65 | 6970198,4 | 712622,5 | 178,8 | 85,3 | 129,0 | -59,7 | 14,2 | 19,2 | 5,0 | 1,2 | North extension |
| 31,2 | 44,2 | 13,0 | 1,3 | ||||||||
| 55,3 | 60,3 | 5,0 | 1,0 | ||||||||
| 67,3 | 71,1 | 3,8 | 1,2 | ||||||||
| 75,4 | 82,3 | 6,9 | 2,6 | ||||||||
| or | 78,3 | 81,3 | 3,0 | 4,7 |
All drilling has been carried out by Pöyry Finland Oy and MK-Drilling Oy, using WL-66 or WL-76 tubes, resulting in cores of 50, 5mm or 57, 5 mm in diameter. The locations, start azimuths and -dips of the drill holes have been surveyed by professional land surveyor from Suuntakartta Oy using GNSS-GPS equipment. Azimuth and dip deviations down the hole have been measured using the Reflex Maxibor Borehole Survey System or DeviflexTM Survey tool. All cores have been orientated with Reflex ACT equipment.
The drill cores have been logged by Endomines own personnel. The preparation and assaying of the halfcore samples cut by Endomines have been carried out at the Labtium laboratory in Rovaniemi, Finland or at ALS laboratory prepared in Finland and assayed in Romanien. The sample procedure used at the laboratories was Pb - Fire Assay of 50g subsample (ALS 30g), and determination of gold using the ICPOES method (Labtium code 705P) or AAS (ALS code Au-AA23). Any assay with gold grades exceeding 10 g/t was re-assayed using a 50g Fire Assay method with gravimetric finish (Labtium code 705G or ALS code Au-Gra21).
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: The technical aspects of this news release have been prepared by MSc (geology) Jaakko Liikanen, who is acting as Competent Person with respect to this release. Jaakko Liikanen is Chief Technical Officer of Endomines AB and owns 1,120,892 shares (1.3%) of the company. The data supporting this news release has been provided in a Surpac database and has been verified against the original laboratory assay certificates. The Competent Person has not undertaken any independent sampling of the drill core, but has reviewed the QA/QC procedures, and considers the results to be within expected margins of error.
Markus Ekberg CEO of Endomines AB tel. +358 40 706 48 50
or visit the Company´s home page: www.endomines.com
Endomines AB is a Northic mining and exploration company with its first operating gold mine in production since February 2011. The mine is located in Eastern Finland, on the Karelian Gold Line, a 40 km long gold critical belt, where Endomines controls all currently known gold deposits.
The company's business practices and mining operations are based on sustainable principles and on minimizing the impact on the environment.
Endomines applies SveMin's & FinnMin's respective rules for reporting (public mining & exploration companies). It has chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources.
The shares of Endomines AB are quoted on NASDAQ OMX Stockholm under ticker ENDO and on NASDAQ OMX Helsinki under ticker ENDOM. Pareto Öhman acts as Liquidity Provider.
This news release may contain forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ
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materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08:45 CET on February 11th, 2014.
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