26.8.2022

Endomines reports new, high-grade drill results from the Pampalo gold mine

Press release (PDF)

Endomines AB, stock exchange release 26th August 2022 at 09:00 CET

 

Endomines is pleased to report drill results from the underground core drilling program carried out in the spring/summer 2022 at the Pampalo Gold Mine in Finland. The drill program consisted of fifty tree (53) diamond drill holes for a total of 4 330 m. Drill holes were targeted to the area between the 815 and 875 mine levels, representing the next sixty (60) vertical meters below the current production area.

 

Highlighted drill results include:

 

  • T-1753 intersected 8.2 meters at 13.1 g/t gold, including 0.8 meters at 105.1 g/t gold
  • T-1756 intersected 4.3 meters at 14.6 g/t gold, including 1.0 meters at 54.5 g/t gold
  • T-1720 intersected 4.2 meters at 16.2 g/t gold, including 1.2 meters at 29.8 g/t gold
  • T-1744 intersected 2.8 meters at 17.3 g/t gold, including 1.0 meters at 45,8 g/t gold
  • T-1710 intersected 12.1 meters at 4.1 g/t gold, including 0.9 m 14.6 g/t gold

 

The results of the drilling program reported here are indicating that the grades and widths occurring in the current production area, between the 755 and 815 mine levels, are continuing downwards and also supporting management's positive view of the next planned production area between the 815 and 875 mine levels. The infill core drilling program (4 000 m) for the area is planned to start at the end of September and be completed by the end of the year. Extending the decline from the 815 level to the 875 level was started in June and it is currently progressing at the 830 level.

 

” I am very pleased with results we have achieved. Pampalo is an important cornerstone of our new strategy. These new areas form a base for our production during 2023-2024, which we can further build other growth on. In the results there were also no indication that the mineralization wouldn’t continue below drilled levels,“ says CEO Kari Vyhtinen.

 

 

The most interesting new drill intersections from underground drilling are presented in the figure below and complete drill results area presented in Table 1.

Timeline

Description automatically generated

 

 

Table 1 - Diamond core drilling results 2022 from Pampalo underground mine at Karelian Gold Line, Finland

Hole ID

Northing

Easting

Elevation

Azimuth
(°)

Dip
(°)

Length
(m)

From
(m)

To
(m)

Downhole
length (m)

True Width (m)

Au
(g/t) uncapped

Au
(g/t) capped*

T-1710

6105.0

10097.4

-786.2

31.3

-53.5

164.6

74.5

75.3

0.8

0.5

2.9

 

 

 

 

 

 

 

 

123.0

124.0

1.0

0.6

1.3

 

 

 

 

 

 

 

 

141.4

153.5

12.1

6.8

4.1

 

 

 

 

 

 

 

including

145.4

146.4

0.9

0.5

14.6

 

T-1711

6104.9

10097.5

-786.7

56.1

-56.3

117.1

91.5

94.2

2.7

1.9

12.9

8.7

 

 

 

 

 

 

including

93.2

94.2

1.0

0.7

31.4

20.0

 

 

 

 

 

 

 

96.2

99.2

3.0

2.1

3.3

 

 

 

 

 

 

 

 

105.6

110.5

4.9

3.5

8.0

 

 

 

 

 

 

 

including

109.6

110.5

0.9

0.6

12.5

 

 

 

 

 

 

 

 

114.9

116.0

1.1

0.8

4.8

 

T-1712B

6105.5

10097.6

-786.7

56.5

-48.6

107.2

79.1

80.2

1.1

0.9

1.0

 

 

 

 

 

 

 

 

103.0

107.2

4.2

3.3

3.0

 

T-1713

6104.9

10097.6

-786.2

61.0

-45.6

102.1

92.7

95.1

2.3

2.0

8.7

 

 

 

 

 

 

 

including

93.8

95.1

1.3

1.0

14.7

 

T-1714

6104.8

10097.5

-786.7

76.6

-62.1

116.9

36.2

37.5

1.3

0.9

2.3

 

 

 

 

 

 

 

 

73.9

75.2

1.3

0.9

5.5

 

 

 

 

 

 

 

 

80.0

82.0

2.0

1.4

1.3

 

 

 

 

 

 

 

 

107.0

109.4

2.3

1.6

1.7

 

 

 

 

 

 

 

 

116.1

116.9

0.8

0.5

1.7

 

T-1715

6104.8

10097.6

-786.5

78.1

-52.7

98.9

74.0

77.1

3.1

2.4

4.1

 

 

 

 

 

 

 

 

87.7

91.4

3.7

2.9

5.0

 

T-1716

6104.9

10097.7

-786.0

76.1

-35.1

90.2

75.4

76.4

1.0

0.9

1.0

 

 

 

 

 

 

 

 

80.1

83.2

3.1

2.9

6.7

 

T-1717

6104.4

10097.6

-786.6

89.6

-55.2

100.3

67.9

68.4

0.5

0.4

2.2

 

 

 

 

 

 

 

 

72.4

73.4

1.0

0.7

1.7

 

 

 

 

 

 

 

 

93.3

93.8

0.5

0.4

2.0

 

T-1718

6104.4

10097.7

-786.5

86.9

-45.6

89.8

61.7

63.7

2.0

1.7

1.1

 

 

 

 

 

 

 

 

76.8

79.9

3.2

2.7

4.7

 

 

 

 

 

 

 

 

86.8

87.9

1.1

0.9

1.4

 

T-1719

6104.8

10097.6

-786.4

86.4

-37.8

84.0

64.2

69.0

4.8

4.3

3.8

 

 

 

 

 

 

 

 

75.2

82.8

7.6

6.9

3.8

 

 

 

 

 

 

 

including

75.2

76.0

0.8

0.7

17.5

 

T-1720

6104.5

10097.4

-786.8

103.3

-60.1

101.5

80.8

85.0

4.2

2.6

16.2

13.4

 

 

 

 

 

 

including

83.8

85.0

1.2

0.7

29.8

20.0

T-1721

6104.6

10097.6

-786.5

106.3

-41.7

90.2

60.1

61.3

1.2

1.0

1.3

 

 

 

 

 

 

 

 

75.7

76.8

1.1

0.9

2.7

 

T-1722

6059.2

10088.4

-819.1

56.0

-50.1

96.2

27.2

29.2

2.0

1.4

1.4

 

 

 

 

 

 

 

 

79.3

79.8

0.5

0.4

3.5

 

 

 

 

 

 

 

 

81.7

83.4

1.8

1.2

2.8

 

T-1723

6059.2

10088.4

-819.1

59.3

-26.5

93.2

63.8

67.4

3.6

3.4

3.1

 

 

 

 

 

 

 

 

77.4

78.2

0.8

0.8

1.3

 

 

 

 

 

 

 

 

87.1

88.1

1.1

1.0

2.8

 

T-1724

6059.2

10088.4

-819.1

80.8

-59.5

80.1

65.8

71.6

5.8

4.1

6.7

 

 

 

 

 

 

 

including

67.7

68.7

1.0

0.7

17.9

 

 

 

 

Hole ID

Northing

Easting

Elevation

Azimuth
(°)

Dip
(°)

Length
(m)

From
(m)

To
(m)

Downhole
length (m)

True Width (m)

Au
(g/t) uncapped

Au
(g/t) capped*

T-1725

6059.2

10088.4

-819.1

77.2

-5.7

90.9

47.3

49.4

2.1

2.1

1.2

 

 

 

 

 

 

 

 

52.3

53.1

0.9

0.8

2.9

 

 

 

 

 

 

 

 

60.8

62.0

1.2

1.2

1.1

 

 

 

 

 

 

 

 

81.8

88.0

6.2

6.1

1.4

 

T-1726

6059.2

10088.4

-819.1

80.5

-40.2

72.3

61.8

64.7

2.9

2.6

1.8

 

T-1727

6057.8

10088.8

-819.0

89.3

-50.9

67.8

13.0

14.0

1.0

0.8

2.4

 

 

 

 

 

 

 

 

18.0

20.0

2.0

1.6

5.0

 

 

 

 

 

 

 

 

46.0

47.0

1.0

0.8

1.6

 

 

 

 

 

 

 

 

56.0

58.2

2.2

1.7

3.6

 

T-1728

6057.8

10088.8

-819.0

87.8

-26.8

69.2

37.0

40.0

3.0

2.9

2.6

 

 

 

 

 

 

 

 

52.8

56.8

4.1

4.0

6.4

 

 

 

 

 

 

 

including

53.8

54.8

1.0

1.0

13.3

 

T-1729

6057.8

10088.8

-819.0

102.5

-33.3

66.1

49.3

50.4

1.1

1.0

1.5

 

 

 

 

 

 

 

 

55.7

58.5

2.8

2.6

3.2

 

 

 

 

 

 

 

 

63.8

65.0

1.2

1.1

1.0

 

T-1730

6057.8

10088.8

-819.0

113.7

-58.8

90.2

69.2

79.0

9.8

6.5

4.4

4.2

 

 

 

 

 

 

including

72.7

73.6

0.9

0.6

22.0

20.0

 

 

 

 

 

 

 

84.0

88.1

4.1

2.7

1.2

 

T-1731

6056.4

10089.1

-818.8

109.1

-14.6

63.2

53.0

58.1

5.1

4.8

2.8

 

 

 

 

 

 

 

including

55.0

56.0

1.0

0.9

7.4

 

T-1732

6056.4

10089.1

-818.8

112.2

-26.9

66.2

56.2

57.2

0.9

0.9

6.3

 

T-1733

6056.4

10089.1

-818.8

117.5

-38.9

69.1

56.0

56.8

0.8

0.6

1.3

 

 

 

 

 

 

 

 

58.4

59.0

0.6

0.5

2.7

 

 

 

 

 

 

 

 

62.6

64.9

2.3

1.9

3.8

 

 

 

 

 

 

 

including

63.6

64.2

0.6

0.5

9.3

 

 

 

 

 

 

 

 

67.0

67.7

0.8

0.6

2.7

 

T-1734

6056.4

10089.1

-818.8

118.3

-47.5

74.2

59.4

61.6

2.3

1.7

3.5

 

 

 

 

 

 

 

 

64.8

65.7

0.9

0.7

5.2

 

 

 

 

 

 

 

 

67.5

70.7

3.2

2.4

2.8

 

T-1735

6056.4

10089.1

-818.8

121.0

-56.5

81.1

71.2

77.2

6.0

3.8

3.1

 

 

 

 

 

 

 

including

71.2

72.2

1.0

0.6

9.2

 

T-1736

6054.9

10089.5

-818.6

124.1

-31.1

70.3

54.9

55.9

1.1

0.8

1.6

 

 

 

 

 

 

 

 

62.0

65.8

3.8

3.0

4.9

 

 

 

 

 

 

 

including

62.8

63.8

1.0

0.8

14.0

 

T-1737

6054.9

10089.5

-818.6

129.5

-15.0

71.9

59.6

64.0

4.4

3.4

2.9

 

 

 

 

 

 

 

 

68.9

69.3

0.5

0.3

35.7

20.0

T-1738

6054.9

10089.5

-818.6

139.3

-55.7

92.6

73.9

78.4

4.5

2.2

4.5

 

 

 

 

 

 

 

including

73.9

74.8

0.9

0.4

14.2

 

 

 

 

 

 

 

 

81.2

83.7

2.5

1.2

12.0

5.8

 

 

 

 

 

 

including

82.3

82.6

0.3

0.1

71.5

20.0

T-1739

6054.9

10089.5

-818.6

136.8

-41.1

86.7

70.0

72.0

2.0

1.2

1.4

 

 

 

 

 

 

 

 

75.0

76.1

1.1

0.7

2.1

 

T-1740

6054.9

10089.5

-818.6

140.5

-25.7

79.6

66.8

70.9

4.1

2.5

5.6

 

 

 

 

 

 

 

including

66.8

67.8

1.0

0.6

13.8

 

 

 

 

 

 

 

 

72.8

76.6

3.8

2.3

4.7

 

 

 

 

 

 

 

including

75.0

75.8

0.8

0.5

13.5

 

 

 

 

Hole ID

Northing

Easting

Elevation

Azimuth
(°)

Dip
(°)

Length
(m)

From
(m)

To
(m)

Downhole
length (m)

True Width (m)

Au
(g/t) uncapped

Au
(g/t) capped*

T-1741

6054.9

10089.5

-818.6

152.0

-46.2

108.1

96.0

100.0

4.0

1.6

6.1

 

T-1742

5976.3

10107.4

-807.6

61.0

-57.5

58.7

45.8

46.9

1.1

0.7

2.1

 

 

 

 

 

 

 

 

49.0

50.1

1.1

0.7

2.3

 

T-1743

5969.1

10103.9

-806.6

70.8

-38.6

48.1

26.0

26.8

0.8

0.7

3.1

 

 

 

 

 

 

 

 

36.9

40.0

3.1

2.7

1.8

 

 

 

 

 

 

 

 

43.8

44.6

0.8

0.7

6.1

 

T-1744

5964.1

10101.5

-806.9

97.6

-38.2

48.1

33.9

35.7

1.8

1.6

2.8

 

 

 

 

 

 

 

 

37.6

38.5

0.9

0.8

2.5

 

 

 

 

 

 

 

 

40.2

43.0

2.8

2.6

17.3

8.1

 

 

 

 

 

 

including

42.0

43.0

1.0

0.9

45.8

20.0

T-1745

5951.8

10088.1

-806.3

91.7

-44.9

63.9

50.8

53.9

3.1

2.7

8.6

 

T-1746

5951.8

10088.1

-806.4

102.1

-68.7

85.9

75.4

76.5

1.1

0.6

9.6

 

T-1747

5951.6

10088.4

-806.0

103.0

-18.3

56.0

41.0

46.5

5.5

5.3

2.9

 

 

 

 

 

 

 

including

44.8

45.6

0.9

0.8

7.1

 

 

 

 

 

 

 

 

48.2

53.0

4.9

4.7

1.5

 

T-1748

5951.6

10088.4

-806.0

104.8

-28.6

57.1

43.2

48.2

5.0

4.7

4.2

 

T-1749

5951.7

10088.1

-806.3

114.6

-55.1

78.1

60.1

61.5

1.4

1.0

27.0

13.5

T-1750

5951.3

10087.6

-806.5

121.0

-41.7

66.1

51.5

54.8

3.3

2.5

2.4

 

T-1751

5951.2

10087.8

-805.7

125.2

-15.9

57.0

47.4

54.4

7.1

5.8

5.5

4.2

 

 

 

 

 

 

including

53.7

54.4

0.7

0.6

32.6

20.0

 

 

 

 

 

 

 

56.4

57.0

0.6

0.5

1.6

 

T-1752

5951.3

10087.7

-806.1

127.2

-25.6

60.2

47.6

54.8

7.2

5.6

3.2

 

T-1753

5951.1

10087.3

-806.4

134.7

-52.3

75.0

59.3

67.5

8.2

4.6

13.1

4.8

 

 

 

 

 

 

including

62.4

63.2

0.8

0.5

105.1

20.0

T-1754

5951.1

10087.3

-806.4

136.9

-33.7

84.3

53.6

54.6

1.0

0.6

1.6

 

 

 

 

 

 

 

 

56.6

58.6

2.0

1.3

3.3

 

T-1755

5951.0

10087.3

-805.9

139.6

-21.2

68.2

59.5

61.9

2.4

1.5

1.7

 

T-1756

5951.0

10087.4

-805.8

148.5

-16.5

83.9

71.0

75.3

4.3

2.2

14.6

6.6

 

 

 

 

 

 

including

72.9

73.9

1.0

0.5

54.5

20.0

T-1757

5958.3

10092.5

-806.8

38.2

-46.3

89.0

1.3

2.3

1.0

0.5

2.6

 

 

 

 

 

 

 

 

72.0

75.0

3.0

1.6

6.1

 

 

 

 

 

 

 

including

74.2

75.0

0.8

0.4

16.5

 

 

 

 

 

 

 

 

77.5

82.0

4.5

2.4

2.0

 

T-1758

5958.1

10092.7

-806.9

52.5

-55.1

90.0

77.6

80.0

2.4

1.5

3.3

 

 

 

 

 

 

 

 

83.3

84.3

1.0

0.6

1.2

 

T-1759

5958.1

10092.7

-806.8

53.2

-55.4

82.3

64.9

68.0

3.1

1.9

2.5

 

 

 

 

 

 

 

 

75.3

77.3

2.0

1.2

1.8

 

T-1760

5957.9

10092.5

-806.7

85.3

-66.8

89.6

75.4

81.1

5.7

3.5

3.7

 

T-1761

5958.0

10092.6

-806.8

73.5

-43.3

62.2

51.0

53.0

2.0

1.7

4.3

 

 

 

 

 

 

 

 

56.2

59.3

3.1

2.6

11.0

8.2

 

 

 

 

 

 

including

57.2

58.2

1.0

0.8

28.6

20.0

T-1762

5957.8

10092.7

-806.8

88.4

-62.5

75.1

62.0

65.0

3.0

2.0

4.4

 

Note: Coordinates are in local Mine Grid. A lower cut-off of 1.0 g/tonne Au has been used for all intervals. *Assay results capped at 20 g/t gold (Based on the geostatistical analysis and production data from the mine).

 

Background

 

The Pampalo Gold Mine is located 45 kilometers northeast of the municipality of Ilomantsi in Eastern Finland. The Pampalo mine has been in production between 1996 and 1999 by Outokumpu Mining Oy and by Endomines between 2011 and 2018. The mine has produced 180 000 ounces (5 600 kg) of gold at an average grade of 3.6 g/t.

 

Pampalo is an orogenic gold deposit located within the Archean Ilomantsi greenstone belt. The deposit is characterized by a series of sub-vertical, flattened, parallel pipes, plunging to the northeast and parallel to the local foliation and fold axis, implying a strong structural control of the mineralization. The mineralization is hosted by an intermediate pyroclastic unit, metamorphosed to greenschist – lower-amphibolite facies.

 

Drilling technical

 

All underground drilling has been carried out by Comadev Oy, using NQ2 tubes, resulting in core of 40.7 mm in diameter. Drill hole locations, start azimuths and -dips have been surveyed by using mine survey equipment. Downhole survey of bearing and dip deviations have been done by using Reflex Gyro survey tool. All core has been oriented with Reflex ACT equipment.

 

Assay and QA/QC procedures

 

The drill cores have been logged by Endomines own personnel. The preparation and assaying of the underground drillings core samples have been carried out at Endomines laboratory in Pampalo, Finland or at the CRS Minlab Oy in Kempele, Finland. The sample procedure used at the laboratory was MPC's PAL1000 PULVERISE AND LEACH machine with AAS finishing. The used sample size was 500 g of crushed core.

 

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

 

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.

 

For further information, please contact:

Kari Vyhtinen, CEO, kari.vyhtinen@endomines.com, +358 40 585 0050

Jani Rautio, Head Geologist, jani.rautio@endomines.com, +358 50 593 0812

 

The information was submitted for publication, through the agency of the contact persons set out above, at 09:00 CET on 26 August 2022.

 

About Endomines

Endomines is a mining and exploration company with its primary focus on gold. The Company explores for gold along the Karelian Gold Line in Eastern Finland and develops mining operations in Idaho, USA. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.

The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).