El Cubo, Mexico

Overview

Acquisition Endeavour's third mine, acquired in July 2012
Location 6 kilometres southeast of the city of Guanajuato in the state of Guanajuato
Access 30 minutes by municipal road to the town of El Cubo
Property Approximately 8,100 hectares in the second largest historic silver mining district in Mexico
Infrastructure State power grid; local labour, supplies, and services
Operations 3 mines feed a flotation plant that produces mineral concentrates; concentrates feed a 400-tonne-per-day leach plant to produce doré bars
Geology Low-sulphidation epithermal veins are typically thousands of metres long, 400 metres deep, and 1 to 3 metres thick

 

2015 Production

  • 2.3 million ounces of silver
  • 28,634 ounces of gold
  • 4.3 million ounces of silver equivalent

Reserves and Resources (as of December 31, 2015)

  • 4.5 million ounces of proven and probable silver
  • 5.0 million ounces of measured and indicated silver
  • 7.3 million ounces of inferred silver
  • 64,690 ounces of proven and probable gold
  • 1.2 million ounces of measured and indicated gold
  • 100,800 ounces of inferred gold

Production Statistics

 
YEAR SILVER (oz) GOLD (oz) SILVER EQUIV. (oz)
2015 2,288,145 28,634 4,292,525 (1)
2014 1,228,256 18,146 2,498,476 (1)
2013 1,159,026 17,142 2,187,546 (2)

2012

304,405 4,893 597,985 (3)

(1) Gold converted to silver at a 70:1 ratio
(2) Gold converted to silver at a 60:1 ratio
(3) Gold converted to silver at a 50:1 ratio

El Cubo is Endeavour’s third and potentially largest mine, located six kilometres southeast of the city of Guanajuato in the state of Guanajuato. Access is by municipal road and infrastructure includes the state power grid, and local labour, supplies and services in the city of Guanajuato. The property covers approximately 8,150 hectares in this second largest historic silver mining district in Mexico.

The El Cubo sub-district is characterized by low- sulphidation epithermal veins typically thousands of metres long, up to 400 metres deep, and ranging up to 15 metres thick. Today El Cubo comprises four underground mining operations feeding a central, 1,550 tonne-per-day plant to produce high-grade silver- gold concentrates, providing employment for 620 employees and 420 contractors.

In 2015, El Cubo produced 1.2 million ounces of silver and 18,146 ounces of gold, totaling 2.5 million ounces of silver equivalent. Silver production met guidance but gold production was below guidance due to lower than planned grades and recoveries.

Exploration drilling in 2015 totaled 11,197 metres in 47 holes to develop extensions of the V-Asunción and Santa Cecilia mines.

Operating Mines – Endeavour Silver Corp. has three producing silver mines in Mexico, the Guanaceví Mine in the state of Durango and the Bolañitos and El Cubo mines in the state of Guanajuato.

Production in 2015 totalled 7.2 million ounces of silver and 59,990 ounces of gold, equal to 11.4 million ounces of silver equivalent at a 70:1 ratio.

Growth Plans – The Company plans additional growth by exploration and development of its existing properties and is actively looking for acquisitions with existing or near term silver production.

Exploration – In addition, the company has a portfolio of exploration properties which will undergo exploration and drilling in 2016.
 

2.3
Million
Ounces of Silver
Produced in 2015
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