Endeavour Silver Drilling Intersects 618 gpt Silver and 3.2 gpt Gold over 21.2 metres (25.1 opT AgEq over 69.6 ft) at Terrone...
June 27 2018 - 6:50AM
Endeavour Silver Corp. (NYSE:EXK) (TSX:EDR)
announces that infill drilling within the Terronera vein system on
the Terronera property in Jalisco State, Mexico (see Terronera map
here) has consistently intersected high grade silver-gold
mineralization in nine drill holes.
The best intercept to date returned 618 grams
per tonne (gpt) silver and 3.2 gpt gold over 21.2 metres (m) true
width (25.1 oz per short ton (opT) silver equivalent (AgEq) over
69.6 feet (ft) in hole TR11-4 (see Terronera long section
here)).
All nine drill holes were targeted to fill gaps
in the drill pattern, with the goal to upgrade up to one million
tonnes of inferred resources to measured and indicated resources so
they can be included in the mine plan for Terronera, and to expand
the inferred resources at depth. Hole TR11-4 is the deepest
mineralized hole drilled to date, it intersected the mineralized
zone at 430 m vertical depth, and remains open at depth.
Drilling highlights are summarized in the
following table of drill results.
Hole |
Structure |
From |
True width |
Au |
Ag |
AgEq |
(m) |
(m) |
(gpt) |
(gpt) |
(gpt) |
TR08-6 |
Terronera Including |
342.30 |
2.8 |
2.0 |
54 |
203 |
342.30 |
0.3 |
4.3 |
127 |
452 |
TR10-5 |
TerroneraIncluding |
475.15 |
1.3 |
1.3 |
467 |
562 |
476.40 |
0.4 |
1.0 |
888 |
962 |
TR10-6 |
TerroneraIncluding |
535.00 |
2.3 |
4.8 |
222 |
583 |
538.00 |
0.5 |
6.7 |
410 |
910 |
TR11-4 |
TerroneraIncluding |
546.40 |
21.2 |
3.2 |
618 |
861 |
548.65 |
0.2 |
4.9 |
4,090 |
4,456 |
TR11-5 |
TerroneraIncludingFW Terroneraincluding |
513.25 |
6.0 |
2.6 |
507 |
699 |
515.05 |
0.4 |
5.4 |
3,370 |
3,778 |
523.70 |
1.5 |
7.1 |
181 |
715 |
523.70 |
0.3 |
9.2 |
279 |
971 |
TR13-6 |
Terronera Including |
358.00 |
1.6 |
4.2 |
120 |
437 |
359.75 |
0.6 |
6.0 |
185 |
631 |
TR13-7 |
TerroneraIncluding |
385.75 |
4.4 |
4.7 |
121 |
471 |
390.65 |
0.5 |
9.1 |
376 |
1,060 |
TR14-8 |
TerroneraIncluding |
315.80 |
4.6 |
4.3 |
146 |
467 |
323.85 |
0.1 |
13.6 |
473 |
1,493 |
TR15-7 |
TerroneraIncluding |
290.95 |
5.7 |
1.3 |
128 |
225 |
294.65 |
0.3 |
8.7 |
164 |
817 |
Silver equivalents are calculated at a ratio of
75:1 silver: gold. All widths are estimated true widths.
Luis Castro, Vice President, Exploration for
Endeavour Silver, commented, “These infill drill results should
have a positive impact on our reserves and resources. The
high silver and gold grades, excellent continuity of mineralization
and significant exploration upside to expand the resources
reinforce our view that Terronera has the potential to become the
next key asset for the Company.”
The infill drill program is now 60% complete,
with 5,990 m drilled out of 10,000 m planned. Once the infill
drill program is completed in September and full drill results are
available, a revised resource estimate will be prepared, but the
new results will not be in time to include in the updated
pre-feasibility study anticipated to be released in August.
Management is currently awaiting a number of
catalysts to advance Terronera to mine development.
Engineering trade-off studies and economic modeling are now
complete and an optimized pre-feasibility study is
forthcoming. All required documents have been filed with
Mexican government agencies for the final two environmental permits
(mine dumps and tailings facilities), receipt of which is
anticipated shortly. The mine and plant construction permits
were issued in August, 2017. An initial debt facility to fund
the new Terronera silver-gold mine is currently being prepared.
Upon receipt of these catalysts, management will meet with the
board to discuss a development decision.
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 operates three high-grade, underground, silver-gold mines in
Mexico. The Company is forecasting 20% production growth to
10.2-11.2 million oz silver equivalent in 2018. Endeavour is
currently developing the El Compas mine as its fourth high-grade,
underground, silver‑gold mine in Mexico and has a compelling
pipeline of exploration and development projects including the
Terronera project 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 - For more
information, please contact: 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
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 2018 including changes in exploration
programs and the timing and results of various activities. 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, performance
or achievements of Endeavour and its operations to be materially
different from those expressed or implied by such statements. Such
factors include, among others, changes in 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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