Beskrivning
| Land | Finland |
|---|---|
| Lista | Small Cap Helsinki |
| Sektor | Råvaror |
| Industri | Gruvdrift & metaller |
Endomines Finland Plc – 28/5/2025, at 10:00 EEST
Inside information: The high-grade drilling result confirm that Ukkolanvaara area contains significant amounts of gold
In a stock exchange release published in February 2025, Endomines reported discovering a new gold potential zone in the Karelian Gold Line. In the release dated February 11, 2025, the company stated that significant amounts of gold had been assayed in bedrock samples taken from Ukkolanvaara, located in the Southern Gold Line.
Endomines has now executed the first drilling program in the Ukko-deposit and received the results of the first drill hole. The results are exceptional, as the same drill hole intersected three significant gold zones. At the same time, the first analysis result now confirms the presence of gold mineralization in Ukkolanvaara.
The results of Ukkolanvaara drill hole UKKO-001:
- Drill hole UKKO-001 intersected 30.95 m @ 3.28 g/t gold from 45.55 m
- Including 9.35 m @ 7.08 g/t gold from 48.45 m
- Drill hole UKKO-001 intersected 20.00 m @ 1.60 g/t gold from 16.20 m
- Including 1.75 m @ 5.52 g/t gold from 18.95 m
- Including 3.05 m @ 4.07 g/t gold from 26.90 m
- Drill hole UKKO-001 intersected 6.30 m @ 2.67 g/t gold from 3.35 m
- Including 1.20 m @ 9.90 g/t gold from 5.00 m
"An impressive result was achieved with the very first drill hole. The result confirms the great gold potential of the Ukko-deposit in Ukkolanvaara. Three such high-grade gold zones in the same drill hole is something we have never seen before in exploration. The plan was to conduct only a three to four-week research campaign in the area, but we have decided to continue the investigations indefinitely. The iron deposit in Ukkolanvaara is very extensive. Additionally, observations of visible gold in several drill holes indicate that gold is present over a wider area in connection with the iron deposit. We believe the gold discovery will prove to be significant,” comments Kari Vyhtinen, CEO of the company.
The significant drill intersections from the UKKO-001 drill hole are presented in Table 1 and the location of the exploration drill holes are presented in the map (Figure 1). All locations and coordinates used for this release rely on the planned coordinates. Definitive collar locations will be measured by a surveyor at the end of the drilling program.
Visible gold in drill holes, results to be completed soon
12 holes with a total length of 2930 meters have been drilled in Ukkolanvaara so far. Drilling is still ongoing, and the analysis results of other drill holes are pending. Based on visual inspection, visible gold has been observed in several of the currently drilled holes. This indicates that the gold mineralization extends over a wider area.
Due to its significant overall potential, the Ukkolanvaara area is now the company's primary exploration target for the 2025 drilling, base of till sampling, and geological mapping campaigns.
Geology of Ukkolanvaara
The most intense gold mineralization has been observed within tightly folded iron formation (BIF, Banded Iron Formation) where pyrrhotite replaces magnetite bands. To date, visible gold grains have been observed in four drill holes at Ukkolanvaara (UKKO-001, UKKO-002, UKKO-003 & UKKO-005). The alteration halo around the mineralization includes chlorite, carbonates green micas and iron sulphides.
Drilling technology and quality assurance
All surface drilling has been carried out by MK Core Drilling Oy, using WL-76 tubes, resulting in a core of 57.5 mm in diameter. Drill hole locations will be surveyed after completion of the drilling program. All coordinates and maps used in this release reflect planned coordinates. A downhole survey of bearing and dip deviations has been completed with the DeviFlex survey tool. All cores have been oriented with the Reflex ACT3 equipment.
The drill cores have been logged by Endomines own personnel. The drill cores have been cut in half by Palsatech Oy in Kemi prior to the shipping to CRS’ laboratory in Kempele. Samples were sent to CRS' laboratory in Kempele for preparation (code PRP-929) and then sent to MS Analytical laboratory in Langley, Canada, where samples were analyzed by methods FAS-111 (Gold), and IMS-230 (multi element). Gold over 10 g/t was re-analysed with FAS-415 .
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.
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.
Further information:
Kari Vyhtinen
CEO
kari.vyhtinen@endomines.com
+358 40 585 0050
Jani Rautio
Chief Technical Officer
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.
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. Endomines controls extensively exploration rights across the Karelian Gold Line.