Endeavour Silver Continues to Intersect High-Grade Mineralization at the Guanacevi Mine including 3.54 g/t Gold and 1,129 g/t Silver for 1,412 g/t Silver Equivalents over 7.28 meters
September 26 2022 - 5:50AM
Endeavour Silver Corp.
(TSX: EDR, NYSE: EXK)
(“Endeavour” or the “Company”) is pleased to report positive drill
results from its ongoing drill program at the Guanacevi Mine in
Durango state, Mexico. Drilling continues along the prolific Santa
Cruz vein in two areas (view Santa Cruz Vein longitudinal section),
with the objective to convert, expand, and discover new resources.
The 2022 drill program has continued to focus on
the El Curso property, establishing lateral and vertical extents of
the mineralized zone between the Porvenir Cuatro and Milache mines.
The exploration and exploitation rights to the El Curso property
were obtained in 2019 from Ocampo Mining S.A. de CV., and have
become an integral contributor to the operation. Recently, under
the same agreement terms, the Company has tested the northwest
extension of the Porvenir Dos orebody with encouraging results from
initial drilling.
Highlights from Recent El Curso Drill
Results
- 3.50 gpt Au and 1,150 gpt
Ag for 1,430 gpt AgEq over a 1.16 m ETW, including 12.80
gpt Au and 4,240 gpt Ag for 5,264 gpt AgEq over 0.24 m
(UCM-102)
- 3.54 gpt Au and 1,129 gpt
Ag for 1,412 gpt AgEq over a 7.28 m ETW, including 25.40
gpt Au and 7,080 gpt Ag for 9,112 gpt AgEq over 0.43 m
(UCM-106)
Highlights from Recent Porvenir Dos
Drill Results
- 1.43 gpt Au and 967 gpt Ag
for 1,081 gpt AgEq over a 2.43 m ETW, including 3.64 gpt
Au and 5,120 gpt Ag for 5,411 gpt AgEq over 0.23 m (APD-03)
- 1.60 gpt Au and 1,460 gpt
Ag for 1,589 gpt AgEq over a 1.17 m ETW, including 2.91
gpt Au and 3,340 gpt Ag for 3,573 gpt AgEq over 0.25 m
(APD-04)
Abbreviations include: gpt: grams per tonne; Au:
gold; Ag: silver; ETW: estimated true width; m: metre; HW: hanging
wall. Silver equivalents are calculated at a ratio of 80:1
silver:gold.
“We are encouraged by the drill results at
Guanacevi, as we continue to delineate high grades in areas which
are proximal to the mill and historic working areas. The results
announced today demonstrate both growth and steady improvement of
the deposit and mine plan,” stated Dan Dickson, Chief Executive
Officer. “Our focus remains on delineating mineralized extensions
to mining horizons and resource growth.”
Latest Drill Results
The Guanacevi drill results are summarized in the following
tables:
Guanacevi – Santa Cruz Vein - El
Curso
Hole |
Structure |
From |
To |
True Width |
Au |
Ag |
AgEq |
(m) |
(m) |
(m) |
(gpt) |
(gpt) |
(gpt) |
UCM-101 |
Santa Cruz |
219.90 |
221.90 |
1.10 |
0.36 |
101 |
130 |
Including |
220.55 |
221.15 |
0.33 |
0.29 |
137 |
160 |
UCM-102 |
Santa Cruz |
202.80 |
205.45 |
1.16 |
3.50 |
1,150 |
1,430 |
Including |
203.55 |
204.10 |
0.24 |
12.80 |
4,240 |
5,264 |
UCM-103 |
Santa Cruz |
195.00 |
210.25 |
6.08 |
0.97 |
234 |
311 |
Including |
208.90 |
209.35 |
0.18 |
5.77 |
699 |
1,161 |
UCM-104 |
HW Santa Cruz |
217.85 |
221.35 |
1.25 |
0.64 |
310 |
361 |
Including |
218.55 |
219.30 |
0.27 |
1.12 |
490 |
579 |
UCM-105 |
Santa Cruz |
204.00 |
210.00 |
1.80 |
1.08 |
508 |
595 |
Including |
208.45 |
209.05 |
0.18 |
3.06 |
1,600 |
1,845 |
UCM-106 |
Santa Cruz |
202.60 |
216.15 |
7.28 |
3.54 |
1,129 |
1,412 |
Including |
208.15 |
208.95 |
0.43 |
25.40 |
7,080 |
9,112 |
UCM-107 |
Santa Cruz |
229.70 |
232.20 |
1.32 |
0.70 |
123 |
179 |
Including |
231.50 |
232.20 |
0.37 |
0.62 |
164 |
213 |
UCM-109 |
Santa Cruz |
267.50 |
269.80 |
1.01 |
1.20 |
521 |
617 |
Including |
269.30 |
269.80 |
0.22 |
0.93 |
707 |
782 |
UCM-110 |
Santa Cruz |
248.05 |
253.00 |
2.47 |
1.25 |
321 |
421 |
Including |
248.95 |
249.90 |
0.48 |
2.43 |
565 |
759 |
Drill holes UCM-108 and UCM-111 returned no
significant results
Guanacevi – Santa Cruz Vein - Porvenir
Dos
Hole |
Structure |
From |
To |
True Width |
Au |
Ag |
AgEq |
(m) |
(m) |
(m) |
(gpt) |
(gpt) |
(gpt) |
APD-03 |
Santa Cruz |
286.85 |
292.60 |
2.43 |
1.43 |
967 |
1,081 |
Including |
287.85 |
288.40 |
0.23 |
3.64 |
5,120 |
5,411 |
APD-04 |
Santa Cruz |
246.50 |
248.80 |
1.17 |
1.60 |
1,460 |
1,589 |
Including |
246.80 |
247.30 |
0.25 |
2.91 |
3,340 |
3,573 |
APD-05 |
Santa Cruz |
190.70 |
195.05 |
2.80 |
1.38 |
489 |
599 |
Including |
193.20 |
193.75 |
0.35 |
2.59 |
943 |
1,150 |
APD-06 |
Santa Cruz |
156.05 |
157.65 |
1.29 |
0.34 |
214 |
241 |
Including |
157.15 |
157.65 |
0.40 |
0.45 |
339 |
375 |
Drill holes APD-01, APD-02, APD-07 and APD-08
returned no significant results
Notes to Tables
- Silver equivalents are calculated
at a ratio of 80:1 silver:gold.
- All widths are estimated true
widths.
- No capping has been applied but
high-grade intervals have been highlighted.
Qualified Person and Quality
Assurance/Quality Control - Dale Mah, P.Geo., Vice
President, Corporate Development of Endeavour, is the Qualified
Person who reviewed and approved the technical information
contained in this news release. 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 Labs, where they
are dried, crushed, split and 250-gram pulp samples are prepared
for analysis. Gold is determined by fire assay with an atomic
absorption finish and silver by aqua regia digestion with ICP
finish, over-limits by fire assay and gravimetric finish.
About Endeavour Silver –
Endeavour is a mid-tier precious metals mining company that
operates two high-grade underground silver-gold mines in Mexico.
Endeavour is currently advancing the Terronera mine project towards
a development decision, pending financing and final permits and
exploring its portfolio of exploration and development projects in
Mexico, Chile and the United States to facilitate its goal of
becoming a premier senior silver producer. Our philosophy of
corporate social integrity creates value for all stakeholders.
Contact Information Galina Meleger, VP,
Investor RelationsEmail: gmeleger@edrsilver.comWebsite:
www.edrsilver.comFollow Endeavour Silver on Facebook, Twitter,
Instagram and LinkedIn
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 (together, "forward-looking statements"). Such
forward-looking statements and information herein include but are
not limited to statements regarding future prospects of the
Company’s mines and projects. 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 to be materially different from
those expressed or implied by such forward-looking statements. Such
factors include but are not limited to the ultimate impact of the
COVID 19 pandemic on operations and results, 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 and 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 Securities
and Exchange Commission . and available at www.sec.gov, and
Canadian securities regulatory authorities available at
www.sedar.com.
Forward-looking statements are based on
assumptions management believes to be reasonable, including but not
limited to: the continued exploration and 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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