Endomines Finland has announced a positive mineral resource assessment for its new area in northern Ilomantsi, where it discovered a gold occurrence called Kartitsa in 2022. This assessment estimates about 2.5 million tons of possible mineral resources in the northern part of the Karelia gold line, containing around 124,000 ounces of gold. Currently, the value of this gold is approximately 17.8 million euros, based on the assessment derived from 45 drill holes totaling 11 kilometers in length.

According to Endomines CEO Kari Vyhtinen, the gold mineralization at Kartitsa extends beyond the current resource estimate. The company intends to continue exploration efforts in the area throughout this year to further confirm and expand these findings. Additionally, Endomines is planning to update the overall resource assessment for the entire Karelia gold line by the end of March, which will provide further insights into the potential for gold mining in this region.

By the end of 2024, Endomines estimates that the Pampalo mine and its surrounding gold line could hold a total of around 493,000 ounces of gold. This would significantly enhance the company's gold mining operations and influence the local economy, as global gold prices remain favorable, making these discoveries timely and potentially lucrative for the company and investors alike.