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Enduro Metals (ENDR) - Hitting High-Grade Gold In Every Hole

March 7 2021, 11:35 GMT

Enduro Metals

  • TSX-V: ENDR
  • Shares Outstanding: 205.4M
  • Share price C$0.19 (01.03.2021)
  • Market Cap: C$36M

Enduro Metals holds one of the largest junior land positions in the heart of British Columbia’s Golden Triangle, a world-class mineral district hosting multiple successful mines. Enduro’s 648km2 Newmont Lake Property contains at least 4 large, distinct mineralized systems with district-scale potential, all starting from surface. The project’s geology, mineralization, exploration results and proximity align with some of the Golden Triangle’s richest known deposits.

We spoke to Cole Evans, President & CEO of Enduro Metals for a catch up since we spoke in November when we talked about business plans, strategy, the team's background and the take-over.

Company Overview 

Enduro Metals is a junior exploration company with a 638km2 land package right in the heart of the Golden Triangle. There are four main systems from Copper-Gold porphyry to near surface high-grade Gold veins with lots of different deposits and lots of different metals. Their main focus at the moment is on high-grade Gold but they are also thinking about longer term growth, particularly on the Copper side going forward.Enduro Metals (ENDR) - Hitting High-Grade Gold In Every Hole

The Drilling Process: Results Meeting Expectations?

Enduro Metals has released some drill results after a long delay at the labs, some are quite high-grade, some more homogenous and some lower-grade results. Every hole they've drilled is hitting high-grade Gold, but also the broader lower-grade, bulk tonnage style intercepts. These are broad bulk tonnage deposits and in the last intercept, they found 8.85m of 31g/t Gold, with about 1% Copper.Enduro Metals (ENDR) - Hitting High-Grade Gold In Every Hole

Uniqueness of Enduro: Data Gathering Via Hyperspectral Imaging

They used some previous data to assess where they should be targeting and are using a technology called Hyper-spectroscopy on the target areas. Enduro Metals plans to stick with the high-grade Gold, which will bring the most immediate value for their shareholders and is also the cheapest to drill. One of their goals is to be one of the lowest cost greenfields explorers in the Golden Triangle. Enduro Metals (ENDR) - Hitting High-Grade Gold In Every Hole

Business Model & Financing it: Goals, Plans, Approach

Enduro Metals has started the year fully funded having completed some big financing in August. Today they have nearly CAD$6M in the bank with a clean balance sheet, having had a year of exploration.  

Creative Problem Solving: Limiting Helicopter Expenses 

A big expense for Enduro Metals is the helicopter cost and the company will shortly be starting winter trail access that will reduce the helicopter costs by 50%. They have set the goal of being a low cost Greenfields explorer and to not unnecessarily dilute shareholders. They believe that it is possible but that they have just got to be creative in how they operate. 

Press Release on Chachi Corridor: Comparables & Expectations

Enduro Metals has put out a press release regarding Chachi which has been a 2 year process with grassroots exploration. The data was completed, interpreted and ready to go to the public so they published it. Chachi is less than 3km from the main camp and from the airstrip, so it sits well with the low cost exploration. Their main focus is still going to be on the near-surface high-grade Gold, at Burgundy and Chachi which will be explored further in 2021 and hope will bring some near term value. The company will put out all drill results from that exploration as soon as they can to keep the market fully informed.

At Burgundy, they have had results come out showing that these are the same rocks that form at Galore Creek called silica-undersaturated alkalic porphyry system. Chachi is something completely new and its own and they have had 5 occurrences of high-grade Nickel and Cobalt that they found on the surface, along with the Copper and Silver and the Copper and Gold, over kilometers in scale. 

Approach to Promotion & Share Price Growth: Time to Drill Deeper? 

The successful exploration has all been relatively shallow and the main focus will predominantly be the high-grade near surface targets. They do also plan to drill deeper in 2021 as have identified a few targets particularly at Burgundy and Chachi where they have a high degree of confidence in hitting at a deeper level.  

Enduro Metals needs to get their story out to the market. They have just listed in the US to the OTCQB to make connections in the United States and grow their audience. The OTCQB listing is good news because the buying levels through there are extremely high at the moment. Their latest news was the first press release they’ve ever translated into German to start touching those new markets too. Enduro Metals (ENDR) - Hitting High-Grade Gold In Every Hole

Repaying Warrants: Process, Conditions, & Impact

The warrants will be repaid in 2021 starting in a month from now which will help the company image and is something that they've been working on over the last year to consolidate those shares and remove the warrants. There are nearly 20 million warrants expiring next month.

North West, North East Anomalies to be Drilled?

There are still some 2020 results to come back from the labs and once all results are back, the 2021 exploration plan will be finalised. They are looking at drilling some deep holes into those new anomalies that could be the source of those Northwest and Northeast extensions. The press release at the ZTEM anomaly and shows that there's Gold continuing with these holes and ending in Gold, so it could be worthwhile testing deeper holes.

Texas Creek Suite Intrusion: An Overview

The Texas Creek Intrusion is early Jurassic. The Golden Triangle has 5 mineralizing events and arguably one of the most important one is this Texas Creek intrusive suite. It stretches all the way from the southern point of the Golden Triangle Stewart Area Premier up to deposits in the northern tip near Red Chris and the Newcrest ground, and everything in between, KSM, Brucejack and Snip etc. 

2021 Deliverables, Goals, & Focus 

Enduro Metals has a lot planned for exploration in 2021. They have clear plans of exactly what they want to do and where to target which is their high-grade Gold. Once the 2020 data is all back from the labs, they will finalise plans and targets which they anticipate will include further along the McClymont, looking at some of that deeper targets, as well as Chachi and Burgandy to a lesser degree. The targets are lined up ready to go and there is a region built at Chachi which is less than 3km from Camp ready to start as soon as they can.

If they continue to deliver numbers like they have been then the market will quickly start to pay attention to Enduro Metals. We look forward to following their story into 2021 to see the results from the exploration work as we go through the year.Enduro Metals (ENDR) - Hitting High-Grade Gold In Every Hole

To find out more, go to Enduro Metals' Website. 


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