Author: Atrium Research November 10, 2026
Ben Pirie | Equity Research Analyst | [email protected] | 647-688-9661
Nicholas Cortellucci, CFA | Equity Research Analyst | [email protected] | 647-391-3314
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What you need to know:
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EDG reported assays from five diamond drill holes at Reliance, intersecting a new zone, the Crown Connector, between the Crown and Lower Imperial Zones.
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DDH26-143 returned 7.79 g/t Au and 0.26% Sb over 4.1m, including 48.30 g/t Au over 0.6m.
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The 10,505m diamond drill program is complete, with assays pending from further Crown holes and 38 RC holes at Eagle Offset and Camp Creek.
This morning, Endurance Gold Corp. (EDG:TSXV) reported assays from five diamond drill holes at its Reliance Gold Project, four at the Crown Zone and one at Eagle. DDH26-141 and DDH26-143, along with the previously reported DDH26-134A, tested a 300m undrilled gap between the Crown and Lower Imperial Zones, and all three intersected gold and antimony mineralization at the predicted depth. The Company has named this new zone the Crown Connector and interprets it as the up-dip extension of the Lower Imperial Zone. All 18 holes reported this year have now intersected mineralization outside the MRE footprint. We are maintaining our BUY rating and target price of $0.90/share on EDG.
The standout hole was DDH26-143, which returned 7.79 g/t Au and 0.26% Sb over 4.1m, including 48.30 g/t Au and 1.68% Sb over 0.6m, where visible gold was noted. Further downhole, it cut two wide zones, 1.84 g/t Au over 29.5m (including 8.73 g/t Au over 3.4m) and 1.58 g/t Au and 0.08% Sb over 22.7m (including 8.86 g/t Au and 0.26% Sb over 1.0m), in a 130m up-dip step-out from DDH25-109.
Elsewhere in the Crown area, DDH26-141 returned 1.39 g/t Au and 0.22% Sb over 8.7m in a 110m down-dip step-out from DDH25-121, plus a separate 8.58 g/t Au over 0.5m, and DDH26-139 returned 2.38 g/t Au over 3.7m, including 8.07 g/t Au over 1.0m. Hole DDH26-145 returned 6.76 g/t Au over 3.3m, including 13.65 g/t Au over 1.0m, while DDH26-138 at Eagle returned 2.00 g/t Au over 5.2m.
EDG has completed its 2026 MRE expansion program, totalling 10,505m in 26 diamond drill holes at the Eagle, Crown and Imperial Zones and bringing diamond drilling in the MRE area to over 42,000m. Reconnaissance RC drilling has also wrapped up at the Eagle Offset and Camp Creek targets, with 2,906m completed in 38 holes. Assays from the remaining Crown holes and both RC programs are pending.
Our Take Today’s results bridge a 300m undrilled gap between the Lower Imperial and Crown Zones, with all three holes testing the gap intersecting gold and antimony mineralization. The Crown Connector provides further evidence of continuous, stacked mineralized structures in the Royal Shear footwall, and DDH26-143 shows 1.84 g/t Au over 29.5m and 1.58 g/t Au and 0.08% Sb over 22.7m intervals, indicating these structures can carry meaningful widths.
As mentioned above, all 18 holes reported this year have intersected mineralization outside the MRE footprint, extending the high drill success rate EDG has delivered at Reliance. With the diamond program now complete, we look forward to the remaining Crown assays and the first RC results from Eagle Offset and Camp Creek.
Catalysts
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2026 Drill Program – Ongoing
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PEA – TBD
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