Terronera, Mexico

San Sebastian

Highlights A new high grade silver-gold mineralized zone was discovered in the Terronera vein, which is now over 1,400 metres long, 200 metres deep, 3 to 10 metres thick, and still open along strike to the southeast and down dip
Acquisition Optioned 100% interest in 2010; spent $2 million on exploration; purchased for $2.75 million in 2013
Location 40 kilometres northeast of Puerto Vallarta in the state of Jalisco, Mexico
Access One hour on a paved highway to the town of San Sebastián del Oeste
Property Approximately 6,100 hectares in the historic silver mining district of Terronera 
Infrastructure State power; local labour, supplies, and services; company camp
Geology Low-sulphidation epithermal veins that are typically up to 3,000 metres long, 200 metres deep, and 1 to 30 metres thick
Resources 19.9 million ounces of indicated silver; 156,000 ounces of indicated gold; 8.5 million ounces of inferred silver; 54,400 ounces of inferred gold
Outlook Drill out the Terronera vein; update the resource estimate; complete the preliminary economic assessment; and make a decision on a pre-feasibility study and project permitting

Terronera  del Oeste is an historic silver and gold mining district in southwestern Jalisco state, approximately 155 kilometres southwest of Guadalajara. One small high-grade underground silver and gold mine, Santa Quitéria, is currently operating in the district, producing 100 tonnes of ore per day. Our Terronera  property surrounds the Santa Quitéria mine and represents a new district-scale silver-andgold exploration and mining opportunity for Endeavour.

The Terronera property displays a classic low-sulphidation epithermal vein system with four mineralized subdistricts, each consisting of a cluster of quartz veins (calcite, barite) bearing sulphide minerals (pyrite, argentite, galena, and sphalerite). Historically, more than 50 small mines have been developed within at least 20 veins. Although the Terronera silver mines were first discovered in 1542 and there have been several periods of small-scale mining over the last 450 years, little modern exploration was ever carried out in the district.

Endeavour's exploration teams feel there is substantial potential for additional high-grade mineralized zones within the several dozen kilometres of known veins on the Terronera properties. Our new high-grade discovery in the Terronera vein confirms our opinion. The vast majority of Terronera veins have never been drilled.

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