Endeavour Silver Reports Infill Drill Results for the Parral Project in Chihuahua, Mexico Including 308 gpt Silver over 11.6 ...
October 23 2019 - 6:50AM
Endeavour Silver Corp. (NYSE: EXK; TSX:
EDR) reports positive infill drill results from its
ongoing 2019 exploration program of the Veta Colorada vein on the
Parral project in Chihuahua, Mexico.
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 low silver prices.
Mineralization occurs in a major silver vein structure that ranges
from 1 to 30 metres (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.
Endeavour has drilled an additional 10
underground holes reported herein for a total of 25 drill holes so
far this year, 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 below the lowest mine level (view Veta
Colorada longitudinal section here).
Recent drilling highlights include 308 grams per
tonne (gpt) silver over 11.6 m true width (9.0 oz per ton (opT)
over 38.1 feet) in hole VCU-16. Several drill holes
intersected two mineralized zones, the Veta Colorada and the HW
Veta Colorada in the hanging wall, with a total true width of
mineralization up to 16.5 m in hole VCU-17.
Luis Castro, Vice President, Exploration
commented, “These infill drill holes at the Sierra Plata mine on
the Veta Colorada vein continue to outline two significant,
parallel mineralized zones over a 400 m length by 300 m depth below
mine level 7. These mineralization zones are extensions of
the orebodies mined by Grupo Mexico decades ago.”
“Our surface drilling and underground sampling
results reported earlier this year (see August 14, 2019 news
release here) showed that substantial high-grade silver
mineralization remains in the area of the old mine workings above
mine level 7. Management views the Parral Project as having
good potential to develop into another new high grade silver mine
for Endeavour Silver.”
Complete drill results are shown in the
following table:
Hole |
Structure |
From |
True width |
Au |
Ag |
(m) |
(m) |
(gpt) |
(gpt) |
VCU-10 |
Hw Veta Colorada |
134.05 |
0.9 |
0.03 |
202 |
Veta Colorada |
141.30 |
1.1 |
0.01 |
147 |
VCU-11 |
Veta Colorada |
65.35 |
7.8 |
0.01 |
266 |
Including |
66.65 |
0.6 |
<0.00.5 |
609 |
VCU-12 |
Hw Veta Colorada |
132.85 |
1.4 |
0.01 |
154 |
Including |
133.70 |
0.9 |
0.01 |
227 |
Veta Colorada |
138.20 |
5.8 |
0.01 |
244 |
Including |
141.60 |
0.2 |
<0.005 |
708 |
VCU-13 |
Hw Terronera |
138.25 |
1.9 |
0.01 |
353 |
Including |
138.25 |
0.5 |
0.01 |
412 |
Veta Colorada |
151.75 |
1.1 |
0.01 |
277 |
Including |
151.75 |
0.6 |
0.01 |
347 |
VCU-14 |
Hw Veta Colorada |
81.70 |
4.9 |
0.03 |
339 |
Including |
83.60 |
0.4 |
0.03 |
1,270 |
Veta Colorada |
92.30 |
3.2 |
0.03 |
278 |
Including |
92.80 |
0.5 |
0.01 |
581 |
VCU-15 |
Hw Veta Colorada |
101.95 |
3.1 |
0.01 |
274 |
Including |
102.80 |
0.8 |
0.01 |
383 |
Veta Colorada |
107.30 |
4.4 |
0.01 |
468 |
Including |
107.30 |
0.6 |
0.01 |
1,355 |
VCU-16 |
Veta Colorada |
141.65 |
11.6 |
0.01 |
308 |
Including |
143.05 |
0.7 |
0.01 |
758 |
VCU-17 |
Hw Veta Colorada |
71.30 |
7.6 |
0.01 |
226 |
Including |
76.00 |
0.5 |
0.01 |
593 |
Veta Colorada |
82.00 |
8.9 |
0.01 |
254 |
Including |
89.25 |
0.5 |
0.01 |
1,355 |
VCU-18 |
Hw Veta Colorada |
147.75 |
1.0 |
0.02 |
257 |
Including |
147.75 |
0.2 |
0.02 |
443 |
VCU-19 |
Veta Colorada |
174.80 |
2.4 |
0.04 |
249 |
Including |
174.80 |
0.2 |
0.03 |
338 |
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
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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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