Endeavour Silver Corp. (NYSE: EXK; TSX:
EDR) reports positive results from its ongoing 2019
exploration program on the Parral project in Chihuahua,
Mexico. Endeavour has completed 15 surface and underground
drill holes totaling 3,160 meters (m) and 462 underground channel
samples in 3 blocks in the Sierra Plata mine on the Veta Colorada
vein system to date.
The Veta Colorada (including the Sierra Plata
and El Verde mines) was a past producing mining operation owned by
Grupo Mexico that closed in 1991 due to the low silver price.
Endeavour acquired the Veta Colorada properties in 2016 along with
the past producing San Patricio and Palmilla mines and related
silver veins in the Parral district.
The Veta Colorada is a major silver vein
structure that ranges from 1 to 30 m thick (average 5-10 m), was
mined on 7 levels down to 300 m depths below surface in places and
has been traced for 7 kilometers.
Surface and Underground Drill
Results
Endeavour has drilled 6 surface and 9
underground drill holes so far this year, about half of the planned
program, to test an area 600 m long by 500 m deep in and around the
Sierra Plata mine workings. Every hole intersected strong silver
mineralization, mostly adjacent to old workings, indicating that
historic mining focused on very high silver grades and left behind
significant high grade silver mineralization (view the Veta
Colorada longitudinal section here).
Surface drilling highlights include 346 grams
per tonne (gpt) silver over 9.6 m true width (11.1 oz per ton (opT)
over 31.5 feet) in hole VCS-02. Underground drilling
highlights include 332 gpt silver over 13.1 m true width (10.7 opT
over 43.0 feet) in hole VCU-05. Several of the surface drill
holes intersected old mine workings so the reported mineralized
intervals represent only a part of the original silver mineralized
zones.
Complete drill results are shown in the
following table:
Surface Drill Results |
Hole |
Structure |
From |
True width |
Ag |
(m) |
(m) |
(gpt) |
VCS-01 |
Old Working (VC) |
244.45 |
5.2 |
Old Working |
Veta Colorada |
250.35 |
0.9 |
160 |
Including |
250.70 |
0.2 |
412 |
VCS-02 |
Hw Veta Colorada |
189.70 |
9.6 |
346 |
Including |
192.50 |
0.5 |
784 |
Veta Colorada |
201.45 |
5.0 |
283 |
Including |
204.95 |
0.5 |
975 |
VCS-03 |
Hw Veta Colorada |
202.50 |
3.0 |
242 |
Including |
204.00 |
0.5 |
299 |
Veta Colorada |
206.30 |
1.1 |
265 |
Old Working (VC) |
207.40 |
4.1 |
Old Working |
Veta Colorada |
211.50 |
1.5 |
263 |
Including |
211.50 |
0.2 |
461 |
VCS-04 |
Old Working (VC) |
VCS-05 |
Old Working (HW VC) |
142.70 |
1.7 |
Old Working |
Hw Veta Colorada |
147.85 |
1.4 |
293 |
Including |
148.35 |
0.4 |
457 |
Old Working (VC) |
157.40 |
5.2 |
Old Working |
Veta Colorada |
165.00 |
0.9 |
855 |
Including |
165.60 |
0.4 |
1,170 |
VCS-06 |
Veta Colorada |
236.50 |
1.1 |
228 |
Old Working VC |
237.70 |
1.5 |
Old Working |
Including |
236.95 |
0.7 |
320 |
Underground Drill Results |
VCU-01 |
Veta Colorada |
172.55 |
3.7 |
300 |
|
Including |
176.15 |
0.2 |
815 |
VCU-02 |
Veta Colorada |
107.60 |
3.3 |
452 |
|
Including |
110.35 |
0.4 |
842 |
|
Breccia |
119.85 |
1.5 |
234 |
|
Including |
119.85 |
0.2 |
695 |
|
Breccia |
125.35 |
1.8 |
225 |
|
Including |
125.95 |
0.4 |
350 |
VCU-03 |
Veta Colorada |
59.95 |
8.2 |
326 |
|
Including |
62.80 |
0.3 |
727 |
VCU-04 |
Veta Colorada |
154.10 |
7.7 |
253 |
|
Including |
160.80 |
0.4 |
1,200 |
VCU-05 |
Veta Colorada |
87.00 |
13.1 |
332 |
|
Including |
88.80 |
0.2 |
3,770 |
|
Breccia |
114.85 |
0.9 |
225 |
|
Including |
115.30 |
0.4 |
307 |
|
Breccia |
127.15 |
2.2 |
186 |
|
Including |
129.10 |
0.6 |
224 |
VCU-06 |
Veta Colorada |
109.45 |
1.0 |
104 |
|
Including |
110.70 |
0.1 |
382 |
VCU-07 |
Veta Colorada |
66.40 |
13.0 |
154 |
|
Including |
67.30 |
0.3 |
426 |
VCU-08 |
Veta Colorada |
174.80 |
3.2 |
281 |
|
Including |
174.80 |
0.4 |
527 |
VCU-09 |
Veta Colorada |
171.90 |
1.2 |
549 |
Including |
172.55 |
0.5 |
801 |
Underground Channel Sample
Results
Endeavour sampled 3 blocks on level 7 to test an
area 250 m long by 25 m vertically within the north part of the
Sierra Plata mine. Only minor work was needed to re-access and make
safe the historic main haulage ramp into the mine. The
Company dewatered the lowest mine levels last year, sampled old
mine fill on levels 1 to 6, and recognized the opportunity to drill
unmined high grade in all mine levels and sample unmined high grade
in the lower mine levels.
Channel sampling highlights include 2 samples
exceeding 1,000 gpt such as 1,705 gpt silver over 0.55 m true width
in channel 7+66 and 1,480 gpt silver over 0.95 m true width in
channel 7+69. The full width of the vein is not exposed in
many of the mine workings so the sampling results are only partly
indicative of the silver mineralization.
The highest grade samples in the channels are
shown in the following table:
Block |
Channel |
Sample ID |
Structure |
Width (m) |
Ag (g/t) |
8-VC-16-8 |
7+7 |
PAR-1800 |
Bx Hw |
0.90 |
578 |
8-VC-16-8 |
7+7 |
PAR-1802 |
Hw ? |
1.20 |
746 |
8-VC-16-8 |
7+8 |
PAR-1806 |
Bx Hw |
1.00 |
557 |
8-VC-16-8 |
7+8 |
PAR-1807 |
Hw ? |
1.10 |
590 |
8-VC-16-8 |
7+11 |
PAR-1819 |
Bx Hw |
1.10 |
546 |
8-VC-16-8 |
7+12 |
PAR-1825 |
Bx Hw |
1.50 |
544 |
8-VC-16-8 |
7+12 |
PAR-1826 |
Bx Hw |
0.80 |
911 |
8-VC-16-8 |
7+20 |
PAR-1867 |
Bx Hw |
0.70 |
681 |
8-VC-16-8 |
7+20 |
PAR-1868 |
Bx Hw |
1.00 |
676 |
8-VC-16-8 |
7+21 |
PAR-1869 |
Vn - F |
0.30 |
547 |
8-VC-16-8 |
7+21 |
PAR-1874 |
Bx Hw |
1.10 |
767 |
8-VC-16-8 |
7+23 |
PAR-1886 |
Bx Hw |
0.90 |
509 |
8-VC-16-8 |
7+30 |
PAR-1930 |
Vn |
1.00 |
527 |
Block |
Channel |
Sample ID |
Structure |
Width (m) |
Ag (g/t) |
8-VC-17-8 |
7+33 |
PAR-1951 |
Bx Hw |
1.10 |
438 |
8-VC-17-8 |
7+37 |
PAR-1974 |
Bx Hw |
0.80 |
503 |
8-VC-17-8 |
7+47 |
PAR-2044 |
Vn-F |
0.45 |
340 |
8-VC-17-8 |
7+48 |
PAR-2054 |
Bx Hw |
0.90 |
568 |
8-VC-17-8 |
7+48 |
PAR-2055 |
Bx Hw |
1.20 |
369 |
8-VC-17-8 |
7+48 |
PAR-2056 |
Bx Hw |
0.90 |
339 |
8-VC-17-8 |
7+51 |
PAR-2081 |
Bx Hw |
1.00 |
377 |
8-VC-17-8 |
7+52 |
PAR-2085 |
Fw |
0.70 |
346 |
8-VC-17-8 |
7+55 |
PAR-2108 |
Vn-F |
0.55 |
522 |
8-VC-17-8 |
7+62 |
PAR-2153 |
Vn-F |
0.50 |
349 |
8VC-17-8 |
7-55 (-A) |
PAR-2515 |
Tcog Sil-Hem |
0.90 |
376 |
8VC-17-8 |
7-58 (-A) |
PAR-2518 |
Tcog Sil-Hem |
1.10 |
903 |
Block |
Channel |
Sample ID |
Structure |
Width (m) |
Ag (g/t) |
7-VC-20, 8-VC-2-6 |
7+64 |
PAR-2167 |
Hw |
0.85 |
439 |
7-VC-20, 8-VC-2-6 |
7+66 |
PAR-2182 |
Vn |
0.95 |
402 |
7-VC-20, 8-VC-2-6 |
7+66 |
PAR-2184 |
Vn |
0.90 |
721 |
7-VC-20, 8-VC-2-6 |
7+66 |
PAR-2185 |
Hw |
0.55 |
1705 |
7-VC-20, 8-VC-2-6 |
7+66 |
PAR-2186 |
Hw |
0.70 |
312 |
7-VC-20, 8-VC-2-6 |
7+67 |
PAR-2194 |
Vn |
0.75 |
461 |
7-VC-20, 8-VC-2-6 |
7+67 |
PAR-2195 |
Vn |
0.65 |
305 |
7-VC-20, 8-VC-2-6 |
7+68 |
PAR-2201 |
Vn |
0.80 |
423 |
7-VC-20, 8-VC-2-6 |
7+68 |
PAR-2204 |
Vn |
1.00 |
669 |
7-VC-20, 8-VC-2-6 |
7+68 |
PAR-2205 |
Vn |
0.75 |
370 |
7-VC-20, 8-VC-2-6 |
7+69 |
PAR-2212 |
Vn |
0.95 |
1480 |
7-VC-20, 8-VC-2-6 |
7+69 |
PAR-2213 |
Vn |
0.90 |
583 |
7-VC-20, 8-VC-2-6 |
7+70 |
PAR-2219 |
Vn |
1.10 |
418 |
Bradford Cooke, Endeavour CEO commented, “With
the success of our ongoing drilling and sampling exploration
programs so far this year, management views the Parral Project as
having good potential to develop another new high grade silver
mine. The Parral Project is our largest exploration expenditure
this year and represents an important part of our growth
strategy.”
“We have re-conceptualized the development of
the Parral Project as a potential two stage mine project due to the
readily accessible high grade mineralized blocks we have delineated
underground. Given there are several toll mills operating in the
Parral district, and we have already applied for a mining permit
requiring minimal new surface disturbance, we envisage a first
stage, small scale, high grade toll mine averaging around 200-250
tonnes per day to generate cash flow while we evaluate the
possibility of a second stage, larger scale, 1,000-2,000 tpd high
grade mine that could become a new core asset. We plan to
mine a bulk sample and process it at a local toll mill in Q3, 2019
so that we can prepare a preliminary economic assessment for the
stage one mine by year-end.”
Qualified Person
Godfrey Walton, M.Sc., P.Geo., Endeavour’s
President and COO, is the Qualified Person who reviewed and
approved this news release and supervised the drilling programs in
Mexico. A Quality Control sampling program of reference standards,
blanks and duplicates is used to monitor the integrity of all assay
results. All samples are split at the local field office and
shipped to ALS-Chemex Labs, where they are dried, crushed, split
and 50 gram pulp samples are prepared for analysis. Gold is
determined by fire assay with an atomic absorption (AA) finish and
silver by aqua regia digestion and ICP finish, over-limits by fire
assay and gravimetric finish.
About Endeavour Silver –
Endeavour Silver Corp. is a mid-tier precious metals mining company
that owns and operates four high-grade, underground, silver-gold
mines in Mexico. Endeavour is currently advancing the Terronera
mine project towards a development decision and exploring its
portfolio of exploration and development projects in Mexico and
Chile to facilitate its goal to become a premier senior silver
producer. Our philosophy of corporate social integrity
creates value for all stakeholders.
SOURCE Endeavour Silver Corp.
Contact Information: Galina Meleger, Director
Investor RelationsToll free: (877) 685-9775 Tel: (604) 640-4804
Fax: (604) 685-9744 Email: gmeleger@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, Twitter,
Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking
Statements
This news release contains “forward-looking
statements” within the meaning of the United States private
securities litigation reform act of 1995 and “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Such forward‑looking statements and information herein
include but are not limited to statements regarding Endeavour’s
anticipated performance in 2019 including changes in mining
operations and production levels, and the timing and results of
various activities including the exploration and development of the
Parral Project. The Company does not intend to and does not assume
any obligation to update such forward-looking statements or
information, other than as required by applicable law.
Forward-looking statements or information
involve known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, production
levels, performance or achievements of Endeavour and its operations
to be materially different from those expressed or implied by such
statements. Such factors include but are not limited to changes in
production and costs guidance, national and local governments,
legislation, taxation, controls, regulations and political or
economic developments in Canada and Mexico; financial risks due to
precious metals prices, operating or technical difficulties in
mineral exploration, development and mining activities; risks and
hazards of mineral exploration, development and mining; the
speculative nature of mineral exploration and development, risks in
obtaining necessary licenses and permits, and challenges to the
Company’s title to properties; as well as those factors described
in the section “risk factors” contained in the Company’s most
recent form 40F/Annual Information Form filed with the S.E.C. and
Canadian securities regulatory authorities.
Forward-looking statements are based on
assumptions management believes to be reasonable, including but not
limited to: the continued operation of the Company’s mining
operations, no material adverse change in the market price of
commodities, mining operations will operate and the mining products
will be completed in accordance with management’s expectations and
achieve their stated production outcomes, and such other
assumptions and factors as set out herein. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements or information, there may be other
factors that cause results to be materially different from those
anticipated, described, estimated, assessed or intended. There can
be no assurance that any forward-looking statements or information
will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance
on forward-looking statements or information.
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