Endeavour Silver Drilling Discovers Potential Bulk Tonnage Silver Mineralization in the Palmilla Mine Area, Parral Project, C...
November 15 2017 - 6:55AM
Endeavour Silver Corp. (NYSE:EXK) (TSX: EDR)
announces that exploration drilling on the Parral property in
Chihuahua State, Mexico has discovered potential bulk tonnage
silver mineralization within the Palmilla-Capuzaya-La Luz veins in
the Palmilla mine area.
Palmilla was an historic high grade silver mine
which provided silver to the Mexican mint in the late 1800’s.
While most of the narrow, high grade ores were mined out from
underground workings located on and immediately south of the Parral
property, Endeavour drilling has outlined lower grade, bulk tonnage
mineralization above and along strike of the old workings that may
be amenable to open pit mining.
Thirty two drill holes totaling 6,370 metres (m)
of core were drilled to test the Palmilla mine area (view maps
here). The drill holes were spaced at approximately 50 m centres
along two main mineralized structures over an area 550 m long by
250 m wide by 150 m deep.
Drilling highlights include 11.1 m (36.4 feet
(ft)) true width grading 154 grams per tonne (gpt) silver, 0.36 gpt
gold, 0.07% lead and 0.23% zinc (179 gpt silver equivalent (AgEq)
or 5.8 oz per tonne (opt) AgEq) in hole PAL-02. Other
highlights include two intercepts of 11.0 m (36.1 ft) assaying 118
gpt silver, 0.60 gpt gold, 0.15% lead and 0.22% zinc (160 gpt AgEq
or 5.1 opt AgEq) and 15.1 m (49.5 ft) running 114 gpt silver, 0.2
gpt gold, 0.22% lead and 0.33% zinc (128 gpt AgEq or 4.1 opt AgEq)
in hole PAL-13.
Results for the 24 top drill intercepts are
summarized in the table below.
|
|
|
|
|
|
|
|
|
Hole |
Structure |
From |
True width |
Au |
Ag |
Pb |
Zn |
AgEq |
(m) |
(m) |
(gpt) |
(gpt) |
(%) |
(%) |
(gpt) |
PAL-01 |
CapuzayaIncluding |
102.00 |
13.08 |
0.14 |
49 |
0.254 |
0.651 |
59 |
109.00 |
0.4 |
0.06 |
139 |
1.010 |
0.235 |
143 |
PAL-02 |
PalmillaIncluding |
119.70 |
11.1 |
0.36 |
154 |
0.071 |
0.227 |
180 |
145.45 |
0.5 |
0.15 |
1,115 |
0.045 |
0.227 |
1,126 |
PAL-04 |
CapuzayaIncluding |
100.75 |
10.4 |
0.11 |
52 |
0.173 |
0.406 |
60 |
117.90 |
0.2 |
0.38 |
166 |
0.237 |
1.005 |
192 |
PAL-05 |
CapuzayaIncluding |
47.90 |
5.0 |
0.13 |
84 |
0.151 |
0.288 |
93 |
51.85 |
0.3 |
1.02 |
757 |
0.477 |
0.083 |
828 |
PAL-06 |
CapuzayaIncluding |
75.85 |
5.1 |
0.01 |
151 |
0.051 |
0.304 |
151 |
78.15 |
0.6 |
0.01 |
486 |
0.066 |
0.322 |
487 |
PAL-07 |
CapuzayaIncluding |
51.85 |
28.5 |
0.03 |
60 |
0.079 |
0.591 |
62 |
58.60 |
1.0 |
0.03 |
347 |
0.455 |
0.079 |
349 |
PAL-08 |
PalmillaIncluding |
69.15 |
13.4 |
0.35 |
79 |
0.168 |
0.279 |
103 |
79.90 |
0.7 |
0.20 |
227 |
1.815 |
0.183 |
241 |
PAL-09 |
Capuzayaincluding |
82.10 |
11.8 |
0.09 |
139 |
0.141 |
0.219 |
145 |
85.15 |
0.3 |
0.19 |
1,050 |
2.360 |
0.224 |
1,063 |
PAL-10 |
CapuzayaIncluding |
68.40 |
9.9 |
0.04 |
76 |
0.143 |
0.312 |
79 |
72.90 |
0.9 |
0.04 |
233 |
0.191 |
0.178 |
236 |
PAL-11 |
CapuzayaIncluding |
145.20 |
6.7 |
0.30 |
206 |
0.292 |
0.499 |
227 |
147.20 |
0.3 |
1.17 |
889 |
0.155 |
0.108 |
971 |
PAL-13 |
La LuzIncludingPalmillaincluding |
78.80 |
11.0 |
0.60 |
118 |
0.145 |
0.222 |
160 |
84.40 |
0.7 |
2.13 |
596 |
0.621 |
0.159 |
745 |
97.05 |
15.1 |
0.20 |
114 |
0.216 |
0.331 |
128 |
108.15 |
0.4 |
0.21 |
383 |
0.144 |
0.220 |
398 |
PAL-14 |
CapuzayaIncluding |
111.00 |
12.4 |
0.19 |
43 |
0.955 |
1.457 |
56 |
119.40 |
0.6 |
0.87 |
222 |
6.290 |
0.290 |
283 |
PAL-15 |
La LuzIncluding |
108.00 |
7.2 |
0.08 |
100 |
0.137 |
0.301 |
106 |
113.90 |
0.4 |
0.14 |
572 |
0.682 |
0.438 |
582 |
PAL-17 |
CapuzayaIncluding |
77.90 |
5.5 |
0.08 |
63 |
0.096 |
0.290 |
69 |
81.50 |
1.0 |
0.08 |
126 |
0.096 |
0.387 |
132 |
PAL-18 |
CapuzayaIncluding |
59.55 |
5.1 |
0.35 |
72 |
0.229 |
0.291 |
96 |
59.55 |
0.4 |
0.70 |
284 |
1.605 |
0.328 |
333 |
PAL-20 |
PalmillaIncluding |
14.80 |
12.8 |
0.58 |
63 |
0.018 |
0.109 |
104 |
19.30 |
0.9 |
1.72 |
261 |
0.029 |
0.063 |
381 |
PAL-21 |
Capuzayaincluding |
101.35 |
13.4 |
0.10 |
91 |
0.361 |
0.565 |
98 |
125.05 |
0.3 |
0.14 |
499 |
0.544 |
0.948 |
509 |
PAL-22 |
La LuzIncludingPalmillaIncluding |
72.40 |
12.9 |
0.07 |
92 |
0.152 |
0.255 |
97 |
85.00 |
0.7 |
0.28 |
248 |
0.287 |
0.080 |
268 |
96.05 |
6.8 |
0.11 |
65 |
0.084 |
0.158 |
73 |
103.00 |
0.8 |
0.04 |
207 |
0.441 |
0.215 |
210 |
PAL-24 |
La LuzIncludingPalmillaIncluding |
115.70 |
5.2 |
0.05 |
47 |
0.142 |
0.429 |
51 |
126.40 |
0.3 |
0.01 |
119 |
0.054 |
0.277 |
120 |
177.30 |
5.0 |
0.11 |
96 |
0.313 |
0.255 |
103 |
182.00 |
0.3 |
0.13 |
582 |
0.289 |
0.145 |
591 |
PAL-25 |
La LuzIncludingPalmillaIncluding |
40.50 |
15.0 |
0.14 |
117 |
0.202 |
0.269 |
127 |
65.50 |
2.4 |
0.12 |
681 |
1.895 |
0.084 |
690 |
89.05 |
15.9 |
0.75 |
35 |
0.366 |
0.736 |
88 |
93.85 |
0.7 |
12.05 |
80 |
0.122 |
1.130 |
924 |
PAL-26 |
CapuzayaIncluding |
55.90 |
6.0 |
0.01 |
61 |
0.081 |
0.528 |
62 |
55.90 |
1.0 |
0.02 |
184 |
0.141 |
0.328 |
185 |
PAL-27 |
La LuzIncludingPalmillaIncluding |
130.60 |
5.1 |
0.10 |
79 |
0.164 |
0.476 |
85 |
138.60 |
0.2 |
0.07 |
490 |
0.848 |
0.353 |
495 |
173.20 |
6.8 |
0.21 |
64 |
0.837 |
0.520 |
79 |
174.25 |
0.7 |
0.04 |
215 |
0.766 |
0.151 |
218 |
PAL-29 |
La LuzIncludingCapuzayaIncluding |
55.10 |
5.4 |
0.01 |
111 |
0.082 |
0.367 |
112 |
56.10 |
0.3 |
0.03 |
437 |
0.078 |
0.894 |
439 |
144.00 |
5.7 |
0.01 |
446 |
0.402 |
0.678 |
447 |
145.20 |
0.9 |
0.01 |
2,170 |
0.576 |
0.437 |
2,171 |
PAL-32 |
PalmillaIncludingCapuzayaIncluding |
77.35 |
13.2 |
0.56 |
121 |
0.192 |
0.388 |
160 |
99.75 |
0.3 |
0.11 |
1,150 |
2,050 |
0.937 |
1,157 |
118.00 |
11.8 |
0.12 |
46 |
0.174 |
0.340 |
54 |
124.65 |
0.3 |
0.11 |
133 |
0.765 |
1.115 |
141 |
Silver equivalents are calculated at a ratio of 70:1 silver:
gold, excluding base metals and expected recoveries
Luis Castro, Vice President of Exploration for
Endeavour Silver, commented, “Our discovery of potential bulk
tonnage silver-gold-lead-zinc mineralization in the Palmilla mine
area, that may be amenable to open pit mining, is an exciting new
development for the Parral district in general and our property in
particular.”
“It gives us a second mineralized area with
resource potential to complement the Veta Colorada area where we
have already verified a portion of the historic high grade silver
resource (see news release dated October 24, 2017).
“Drilling continues on the Parral property in a
third mineralized area known as the San Patricio vein which lies to
the north of Palmilla. A new resource estimate for the Parral
property will be prepared at year-end for release in the 1st
quarter of 2018.”
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 and silver
are determined by fire assay with an atomic absorption (AA)
finish.
About Endeavour Silver –
Endeavour Silver is a mid-tier precious metals mining company that
owns three high grade, underground, silver-gold mines in Mexico.
Since start‑up in 2004, Endeavour has grown its mining operations
organically to produce 9.7 million ounces of silver and
equivalents in 2016. We find, build and operate quality silver
mines in a sustainable way to create real value for all
stakeholders. Endeavour Silver’s shares trade on the TSX (EDR) and
the NYSE (EXK). Contact Information
- For more information, please contact: Galina
Meleger, Director of Investor RelationsToll free: (877) 685-9775
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 2017 including changes in mining and
operations 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
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factors include but are not limited to 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
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factors that cause results to be materially different from those
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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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