Endomines is pleased to report results from the ongoing exploration campaign at Pampalo and other Karelian Gold Line exploration targets.
The results include new very encouraging gold intersections from the Pampalo Deep Extensions including holes T-916 7.0m@12.2 g/t gold (incl. 4.0m@20.4 g/t gold) and T-917 17.0 m@3.2 g/t gold. These holes were drilled to a previously unknown structure at the Pampalo Deep Northern lens extension and indicate that there might be previously unknown high-grade lenses at Pampalo.
In addition recently identified new S2-lens extension has been confirmed by the drill hole number T-910 (6.0m@5.3 g/t gold) at the level 590. The S2-lens has also been verified with drifting at the upper levels. The most interesting drill intersections are presented in a separate Exploration Report together with complete drilling result tables on the Company�s website and in the attachment.
The Company will continue to explore the area once geometric conditions and development drifting allows. �We are very excited and delighted of these higher grade intersections in the previously unknown area. Our commitment to continue exploration at Pampalo and other targets has given very positive results�, comments Markus Ekberg, CEO of Endomines.
The company has also commenced Base-of-till sampling in March at the NE corner of the Kuittila tonalite. By June 30th about a 930 samples have been collected from the area between Muurinsuo East and Korvilansuo, Pampalo East � Pampalo NW and Hosko North. The sampling target for 2015 is 2,000 samples. Assay results are pending.
All results received by 30th June are published in the attached complete report as well as on the Company�s website.
Competent Person: This statement has been controlled by Eurogeologist, MSc (Geol) Markus Ekberg acting as a Qualified Person in compliance with Fennoscandian Review Board -standards. Markus Ekberg is employed by Endomines as Chief Executive Officer and owns 180 000 shares in Endomines.
For further information, please contact:
Markus Ekberg
CEO of Endomines AB
tel. +358 40 706 48 50
Alternatively, visit the Company�s home page: www.endomines.com
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 17:40 CEST on July 3, 2015.
About Endomines:
Endomines conducts exploration and mining business along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area.
The Company�s first mine, Pampalo, started in February 2011. During 2014, Endomines initiated the production of ore from the mine in R�mepuro and is planning to start mining of the gold deposit in Hosko. The ore from satellite mines will be processed in the centrally located mill at Pampalo.
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 for public mining & exploration companies. The Company 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.
Endomines vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise.
The shares of Endomines AB are quoted on NASDAQ Stockholm under ticker ENDO and on NASDAQ Helsinki under ticker ENDOM. The Liquidity Provider in both Stockholm and Helsinki is Erik Penser Bankaktiebolag.
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 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