Endeavour Silver Drilling Discovers High Grade Silver-Gold Mineralization in the Misie and Calicanto Vein Systems on the Cali...
December 04 2017 - 6:55AM
Endeavour Silver Corp. (NYSE:EXK) (TSX:EDR)
announces that exploration drilling on the Calicanto property in
Zacatecas State, Mexico has discovered high grade silver-gold
mineralization assaying up to 2,043 grams per tonne (gpt) silver
and 13.2 gpt gold over 2.8 m true width within the Calicanto and
Misie vein systems.
Twenty-nine drill holes totaling 7,207 metres
(m) of core were drilled to test the subparallel Misie-Karla-Karla
HW veins, along which there are a few small historic diggings over
a 1000 m strike length on the property, and the Calicanto vein,
which saw historic underground mining accessed by several old
shafts over an 800 m strike length on the property (view maps
here).
Drilling highlights include 2,043 gpt silver and
13.2 gpt gold (2,967 gpt silver equivalent (AgEq)) over a 2.8 m
true width (86.5 oz per ton (opT) AgEq over 9.2 feet (ft)) in hole
CLT-15 within the Calicanto vein. Another high grade
intercept assayed 932 gpt silver and 1.26 gpt gold (1,020 gpt AgEq)
over a 2.7 m true width (29.7 opT AgEq over 8.9 ft) in hole CLT-20
within the Misie vein.
Results for 9 material drill holes are
summarized in the table below.
Hole |
Structure |
From |
True Width |
Au |
Ag |
AgEq |
(m) |
(m) |
(gpt) |
(gpt) |
(gpt) |
CLT-04 |
Misie |
76.55 |
0.9 |
0.14 |
480 |
490 |
Including |
77.15 |
0.4 |
0.22 |
1,080 |
1,095 |
CLT-05 |
Karla |
31.70 |
4.2 |
0.52 |
396 |
433 |
Including |
38.20 |
0.4 |
2.16 |
1,255 |
1,406 |
Hw Karla |
62.25 |
1.0 |
0.05 |
252 |
255 |
Including |
62.25 |
0.4 |
0.11 |
593 |
601 |
CLT-06 |
Karla |
29.20 |
4.1 |
0.14 |
155 |
165 |
Including |
35.90 |
0.3 |
1.51 |
601 |
706 |
Misie |
125.00 |
1.1 |
0.21 |
299 |
313 |
Including |
125.00 |
0.3 |
0.59 |
1,020 |
1,061 |
CLT-15 |
Calicanto |
257.15 |
2.8 |
13.20 |
2,043 |
2,967 |
Including |
259.65 |
0.5 |
65.70 |
11,751 |
16,350 |
CLT-17 |
Misie |
137.55 |
1.2 |
0.24 |
193 |
210 |
Including |
138.50 |
0.5 |
0.50 |
342 |
377 |
CLT-19 |
Karla |
37.10 |
1.6 |
0.23 |
252 |
268 |
Including |
38.10 |
0.8 |
0.39 |
311 |
338 |
Hw Karla |
62.55 |
1.5 |
0.03 |
208 |
210 |
Including |
63.05 |
0.1 |
0.41 |
394 |
423 |
Misie |
96.30 |
2.5 |
0.69 |
335 |
383 |
Including |
96.30 |
0.3 |
0.67 |
500 |
547 |
CLT-20 |
Hw Karla |
25.80 |
4.3 |
0.18 |
220 |
232 |
Including |
28.20 |
0.2 |
1.82 |
880 |
1,007 |
Misie |
87.40 |
2.7 |
1.26 |
932 |
1,020 |
Including |
88.50 |
0.3 |
6.58 |
3,050 |
3,511 |
CLT-26 |
Hw Karla |
69.75 |
1.3 |
0.08 |
251 |
257 |
Including |
71.35 |
0.3 |
0.16 |
388 |
399 |
CLT-28 |
Misie |
94.70 |
1.5 |
1.20 |
446 |
530 |
Including |
94.70 |
0.6 |
2.13 |
756 |
905 |
Silver equivalents are calculated at a ratio of
70:1 silver: gold
Luis Castro, Vice President, Exploration for
Endeavour Silver, commented, “We were very encouraged to discover
new zones of high grade mineralization within the Misie-Karla-Karla
HW and Calicanto veins. Even though only one drill hole
intersected high grade mineralization in the Calicanto vein, it has
exceptional grades and opens up potential within the vein for
drilling next year.
“The Calicanto vein appears to be related to,
and is possibly the same vein as, the Mala Noche Footwall Zone, on
which our neighbor Capstone Mining intersected 2.2 per cent copper
over a 14.4-metre estimated true width in a deep step-out
drill hole close to our property boundary, as announced by Capstone
on September 12, 2017.
“A new resource estimate for the Calicanto
property will be prepared at year-end for release in the 1st
quarter of 2018 as part of the El Compas project. With the El
Compas mine coming to production in the next few months, and the
potential to expand the plant capacity up to double the current
proposed mine output, our near term goals at Calicanto are to
expand the resources, assess their economic viability, apply for
mining permits, and develop a mine plan to utilize the full El
Compas plant capacity.”
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 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 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) 685-9775Fax: (604) 685-9744Email:
gmeleger@edrsilver.comWebsite: 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
different from those expressed or implied by such statements. Such
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
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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