Endeavour Silver Drilling Continues to Intersect High Grade Silver-Gold Mineralization in La Luz-Asuncion Vein at Bolanitos M...
June 24 2014 - 7:30AM
Marketwired Canada
Endeavour Silver Corp. (NYSE:EXK)(TSX:EDR) announces that exploration drilling
at the Bolanitos mine in Guanajuato State, Mexico continues to intersect high
grade, silver-gold mineralization in the Asuncion area of the La Luz vein system
(L-Asuncion) forming three discrete zones over an 800 metre length, still open
to some extent at depth and towards surface.
Drilling highlights from the L-Asuncion area in 2014 include 329 grams per tonne
(gpt) silver and 4.75 gpt gold over 4.60 metres (m) true width, or 17.9 ounces
per ton (opT) silver equivalents over 15.1 feet (ft), in hole LZ17-4, including
1,530 gpt silver and 9.4 gpt gold over 0.13 m true width, or 61.1 opT silver
equivalents over 0.5 ft.
At a 200 gpt/m cutoff, these two mineralized zones collectively measure more
than 400 m long by 250 m deep by up to 5 metres thick (see L-Asuncion
longitudinal section here). Silver equivalents are calculated at a ratio of 60:
1 silver: gold. Drilling highlights were as follows:
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True
From Width Au Ag Ag Eq
Hole Structure (m) (m) (gpt) (gpt) (gpt)
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LZ15-1 La Luz 294.85 2.45 11.01 550.7 1,211
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Including 297.10 0.58 19.15 846.0 1,995
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LZ15-2 La Luz 342.30 3.51 6.24 325.0 699
-----------------------------------------------------------
Including 346.65 0.23 14.15 729.0 1,578
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LZ16-4 La Luz 267.60 1.81 1.89 89.8 203
-----------------------------------------------------------
Including 269.25 0.34 3.79 295.0 522
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LZ16-5 La Luz 330.80 1.84 2.33 85.4 225
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Including 332.65 0.17 8.21 243.0 736
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LZ17-3 La Luz 430.80 3.05 5.56 121.8 456
-----------------------------------------------------------
Including 431.95 0.22 8.84 525.0 1,055
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LZ17-4 La Luz 249.40 4.60 4.75 328.8 614
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Including 253.70 0.13 9.44 1,530.0 2,096
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LZ18-3 La Luz 309.50 2.58 3.08 33.3 218
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Including 310.75 0.19 2.60 263.0 419
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LZ19-2 La Luz 349.15 3.23 11.41 67.8 752
-----------------------------------------------------------
Including 350.95 0.43 40.80 149.0 2,597
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LZ21-1 La Luz 374.95 1.59 3.84 434.7 665
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Including 376.60 0.21 27.10 2,580.0 4,206
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LZ22-3 La Luz 312.55 1.60 2.35 404.6 546
-----------------------------------------------------------
Including 313.00 0.41 3.85 865.0 1,096
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In 2007, Endeavour identified the L-Asuncion area as one of several highly
prospective target areas for the discovery of new high grade silver-gold
mineralization at Bolanitos based on old maps showing substantial mine fill of
economic grade within historic mine workings at L-Asuncion. In 2012, the Company
rehabilitated the old Asuncion mine shaft and gained access to map, sample and
commence production of the old mine fill from the underground mine workings.
Exploration crews subsequently discovered impressive sections of mineralized
vein that remained unmined in the L-Asuncion area. Surface drilling last year
confirmed the presence of mineralization over 800 metres and the exploration
focus for 2014 in the L-Asuncion area is to expand and better define two of the
three high grade zones while tunneling progresses in a northwest direction
towards them.
Luis Castro, Vice President of Exploration, commented, "We are very encouraged
by both the internal continuity and precious metal grades of these mineralized
zones at L-Asuncion. They remain open to some extent both down dip and up dip
and represent a future production area for us at Bolanitos. Thanks to our robust
free cash flow, Endeavour currently has eleven drill rigs (seven surface and
four underground) working in Mexico: two at Guanacevi, three at Bolanitos, four
at El Cubo and two at the emerging new high grade discovery in the Terronera
vein on our San Sebastian project in Jalisco State."
Godfrey Walton, M.Sc., P.Geo., and 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 has been instituted 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 and silver are determined by fire assay with an atomic absorption
(AA) finish.
About Endeavour - Endeavour Silver is a mid-tier silver mining company focused
on growing its production, reserves and resources in Mexico. Since start-up in
2004, the Company has posted nine consecutive years of accretive growth of its
silver mining operations. Endeavour's three operating silver-gold mines in
Mexico combined with its strategic acquisition and exploration programs should
facilitate our goal to become a premier senior silver producer.
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 2014, the timing and results of exploration drill programs and
expectations of increased resource/reserve estimates. 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; 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; fluctuations in the prices
of commodities and their impact on reserves and resources 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, drilling results to achieve increases in resource/reserve
estimates, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Endeavour Silver Corp.
Meghan Brown
Director Investor Relations
604-640-4804 or Toll free: 1-877-685-9775
604-685-9744 (FAX)
mbrown@edrsilver.com
www.edrsilver.com
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