Endeavour Silver Corp. (NYSE: EXK, TSX:
EDR) reports that infill drilling within the Terronera
vein system on the Terronera property in Jalisco State, Mexico
(view Terronera map here) has intersected high grade silver-gold
mineralization in an additional 17 drill holes.
Drilling highlights include three high grade
vein splays, totaling 12.3 metres (m) accumulated thickness,
intersected in hole TR11-8, the best of which returned 1,297 grams
per tonne (gpt) silver and 0.9 gpt gold over a 6.1 m true width
(39.9 oz per short ton (opT) silver equivalent (AgEq) over 20.0
feet (ft) (see Terronera long section here).
All 17 drill holes were targeted to fill gaps in
the drill pattern, with the goal to upgrade one million tonnes of
inferred resources to measured and indicated resources so they can
be included in the mine plan for Terronera, and to expand the
inferred resources at depth. Mineralization in the Terronera
vein has been intersected over 1400 m long by 500 m deep, and it
remains open at depth.
Drilling highlights are summarized in the
following table of drill results.
Hole |
Structure |
From |
True width |
Au |
Ag |
AgEq |
(m) |
(m) |
(gpt) |
(gpt) |
(gpt) |
TR01-4 |
Terronera |
303.40 |
2.3 |
1.4 |
147 |
253 |
Including |
303.40 |
0.6 |
0.7 |
379 |
435 |
TR09-7 |
Terronera |
556.60 |
3.9 |
2.6 |
86 |
284 |
Including |
557.35 |
0.2 |
4.5 |
275 |
612 |
TR09-9 |
Terronera |
366.25 |
3.4 |
2.1 |
136 |
296 |
Including |
371.40 |
0.5 |
5.9 |
189 |
629 |
TR10-7 |
Terronera |
595.05 |
1.1 |
2.7 |
94 |
297 |
Including |
595.05 |
0.4 |
4.6 |
149 |
492 |
TR10-8 |
Terronera |
387.75 |
3.3 |
0.9 |
782 |
847 |
Including |
393.00 |
0.1 |
8.8 |
9,810 |
10,466 |
TR11-7 |
Terronera |
283.45 |
5.3 |
1.2 |
783 |
874 |
Including |
290.40 |
0.3 |
2.6 |
3,880 |
4,074 |
TR11-8 |
HW Terronera |
314.80 |
2.4 |
1.2 |
189 |
279 |
Including |
314.80 |
0.6 |
1.0 |
327 |
404 |
Terronera |
331.00 |
4.2 |
0.7 |
524 |
575 |
Including |
335.75 |
0.5 |
1.1 |
1,175 |
1,259 |
FW Terronera |
351.40 |
6.1 |
0.9 |
1,297 |
1,.367 |
Including |
351.90 |
0.5 |
1.8 |
6,660 |
6,792 |
TR12-7 |
Terronera |
359.75 |
3.7 |
2.6 |
65 |
261 |
Including |
368.10 |
0.1 |
3.5 |
114 |
379 |
FW Terronera |
412.85 |
7.7 |
4.8 |
169 |
526 |
Including |
419.45 |
0.4 |
21.8 |
604 |
2,239 |
TR12-8 |
Terronera |
527.80 |
9.8 |
2.4 |
197 |
378 |
Including |
540.75 |
0.2 |
6.6 |
3,420 |
3,913 |
FW Terronera |
544.15 |
1.4 |
1.1 |
44 |
129 |
Including |
544.15 |
0.3 |
4.5 |
10 |
346 |
TR12-9 |
Terronera |
594.50 |
3.7 |
4.5 |
102 |
443 |
Including |
596.80 |
0.5 |
11.8 |
225 |
1,106 |
TR13-8 |
Terronera |
541.40 |
8.0 |
3.0 |
85 |
310 |
Including |
544.30 |
0.1 |
9.6 |
32 |
753 |
FW Terronera |
558.35 |
1.1 |
2.5 |
156 |
347 |
Including |
558.95 |
0.6 |
3.6 |
183 |
454 |
TR13-9 |
Terronera |
587.95 |
5.6 |
7.1 |
185 |
721 |
Including |
592.35 |
0.3 |
29.3 |
573 |
2,771 |
TR16-10 |
Terronera |
379.10 |
2.9 |
3.6 |
134 |
403 |
Including |
379.90 |
0.6 |
9.5 |
267 |
980 |
TR17-6 |
Terronera |
351.00 |
4.6 |
3.1 |
131 |
365 |
Including |
356.60 |
0.2 |
12.7 |
368 |
1,317 |
TR17-7 |
HW Terronera |
273.95 |
8.2 |
3.4 |
49 |
301 |
Including |
280.60 |
0.4 |
12.9 |
171 |
1,139 |
Terronera |
388.70 |
2.7 |
5.3 |
188 |
587 |
Including |
389.20 |
0.4 |
12.5 |
321 |
1,259 |
TR18-7 |
HW Terronera |
310.10 |
8.7 |
6.2 |
90 |
556 |
Including |
312.70 |
0.7 |
17.2 |
227 |
1,513 |
Terronera |
400.60 |
7.0 |
2.3 |
93 |
263 |
Including |
410.75 |
0.3 |
17.3 |
389 |
1,683 |
TR19-7 |
HW Terronera |
274.10 |
1.8 |
13.2 |
340 |
1,330 |
Including |
275.25 |
0.5 |
32.0 |
820 |
3,220 |
Terronera |
322.50 |
1.4 |
2.9 |
156 |
377 |
Including |
324.00 |
0.3 |
4.0 |
219 |
517 |
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 infill drill results helped us
meet our goal this year to increase our measured and indicated
resources. The high silver and gold grades, excellent
continuity of mineralization and significant exploration upside to
expand the resources reinforce our view that Terronera has the
potential to become the next key asset for the Company.”
The 2018 infill drill program is now complete
with 32 holes totaling 18,774 m, more than the 10,000 m originally
planned but less than the revised plan of 20,000 m, as the program
goals were attained. A revised resource and reserve estimate will
now be prepared for release in Q1, 2019 and the mine plan will be
modified to accommodate the newly defined resources. These 2018
drill results for Terronera, were not included in the 2018 updated
Terronera Preliminary Feasibility Study, additionally see Endeavour
Silver News Release dated June 27, 2018.
Technical Report
The Company filed the technical report titled
“NI 43-101 and NI 43-101F1 Technical Report Updated Mineral
Resource Estimate and Updated Preliminary Feasibility Study for the
Terronera Project, Jalisco State, Mexico” (“Terronera PFS”)
prepared by Smith Foster and Associates with an effective date of
August 7, 2018 and dated September 17, 2018. See Endeavour
Silver News Release dated August 30, 2018 for details of the
2018 Terronera PFS. The complete report is available
and can be viewed on SEDAR at www.sedar.com and on the Company’s
website, under the Mining Assets, Development section. Today’s
drill results and the results announced on June 27, 2018 are not
included in the 2018 Terronera PFS.
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 10.2-11.2 million oz silver
equivalent production in 2018. Endeavour is currently commissioning
its fourth mine at El Compas, advancing a possible fifth mine at
the Terronera mine project 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 - 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
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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 2018, the timing and results of various
future activities, the reliability of mineral resource estimates,
the economic analysis and proposed development of the Terronera
mine.
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, the reliability of Terronera mineral
resource and reserve estimates, economic analysis and estimates for
the Terronera, 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; 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 reliability of mineral resource and reserve
estimates and economic analyses for the Terronera mine, the
continued operation of the Company’s mines, no material adverse
change in the market prices 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. 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.
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