Endeavour Silver Drilling Intersects 269 gpt Silver and 5.5 gpt Gold over 1.1 metres (19.9 opT AgEq over 3.6 ft) at Calicanto...
July 25 2018 - 5:50AM
Endeavour Silver Corp. (NYSE:EXK) (TSX:EDR)
announces that near mine exploration drilling along the Calicanto,
Santa Fe and Misie-Karla vein systems on the Calicanto property in
Zacatecas State, Mexico (see Calicanto map here) continues to
intersect high grade silver-gold mineralization along strike and
down dip of positive drill results reported last year. The
Calicanto property is located within close proximity to the El
Compas Mine, and has the potential to provide further growth
opportunities for the new mine.
The best intercept to date returned 269 grams
per tonne (gpt) silver and 5.5 gpt gold over 1.1 metres (m) true
width (19.9 oz per short ton (opT) silver equivalent (AgEq) over
3.6 feet (ft) in hole CLT-35 (see Santa Fe, Calicanto, Misie and
Karla long sections here). Drilling highlights for twelve
drill holes are summarized in the following table.
Calicanto Surface Drill
Results
Hole |
Structure |
From |
True width |
Au |
Ag |
AgEq |
(m) |
(m) |
(gpt) |
(gpt) |
(gpt) |
CLT-03 |
Santa Fe Including |
229.65 |
1.2 |
10.50 |
42 |
829 |
230.30 |
0.6 |
15.70 |
48 |
1,226 |
CLT-11 |
Santa Fe ProjectionIncluding |
204.95 |
1.0 |
4.39 |
20 |
349 |
204.95 |
0.3 |
12.60 |
55 |
1,000 |
CLT-12 |
Santa Fe Projection |
203.30 |
1.0 |
2.65 |
15 |
214 |
CLT13 |
Santa Fe ProjectionIncluding |
65.25 |
0.8 |
0.26 |
498 |
517 |
66.10 |
0.2 |
0.31 |
954 |
977 |
CLT-15 |
Santa FeIncluding |
186.20 |
1.0 |
0.76 |
172 |
229 |
186.65 |
0.6 |
1.23 |
238 |
330 |
CLT-16 |
Santa FeIncluding |
237.80 |
0.9 |
7.38 |
141 |
695 |
237.80 |
0.4 |
14.60 |
288 |
1,383 |
CLT-30 |
CalicantoIncluding |
354.85 |
2.7 |
2.05 |
120 |
274 |
355.55 |
0.4 |
8.38 |
255 |
884 |
CLT-32 |
CalicantoIncluding |
293.05 |
1.3 |
5.79 |
121 |
556 |
293.60 |
0.5 |
13.75 |
220 |
1,251 |
CLT-32 |
Santa FeIncluding |
271.90 |
1.3 |
1.35 |
116 |
217 |
273.00 |
0.3 |
5.20 |
510 |
900 |
CLT-34 |
Santa FeIncluding |
193.40 |
1.0 |
0.65 |
283 |
332 |
194.30 |
0.2 |
3.18 |
1,310 |
1,549 |
CLT-35 |
Santa FeIncluding |
253.95 |
1.1 |
5.54 |
269 |
684 |
253.95 |
0.2 |
28.10 |
1,345 |
3,453 |
CLT-37 |
Karla Including |
72.65 |
1.0 |
0.30 |
569 |
592 |
72.65 |
0.3 |
0.59 |
1,320 |
1,364 |
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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 exploration drill results
should have a positive impact on our resources for the Calicanto
property, part of the El Compas mine. The high silver and
gold grades, good continuity of mineralization and significant
exploration upside to expand the resources reinforce our view that
El Compas is a scalable asset. Drilling will be ongoing through the
rest of 2018, to further grow the resource around our mineral
endowed targets areas.”
El Compas Development
Update
The El Compas mine output is currently 250
tonnes per day (tpd) and a stockpile is available for
processing. The La Plata plant completed commissioning of all
circuits in June, but during ramp up in July has experienced
recovery issues partially due to high amounts of wet clay in the
low grade ore fed for commissioning, which clogs the crushers and
screens, and withdraws metal from the flotation circuit.
Shelters are now being installed to keep the
rains off the stockpile and crushers, various circuits have been
optimized and the day to day throughput is improving. As of
July 20, the plant was processing 170 tpd with improving
recoveries, but still below plan. Internal and external
consultants are onsite to aid in the ramp up of planned tonnages
and recoveries of the plant with a target to feed stockpiled high
grade ore in the coming days.
Management is targeting mill throughput of 250
tpd by the end of July and recoveries close to plan in August.
While El Compas will not achieve commercial production in July,
management forecasts commercial production will be achieved during
the current quarter.
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 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 to become 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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