August 14, 2019
Endeavour Silver Reports Positive Exploration Results For The Parral Project In Chihuahua, Mexico Including 332 gpt Silver Over 13.1 M True Width
VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) reports positive results from its ongoing 2019 exploration program on the Parral project in Chihuahua, Mexico. Endeavour has completed 15 surface and underground drill holes totaling 3,160 meters (m) and 462 underground channel samples in 3 blocks in the Sierra Plata mine on the Veta Colorada vein system to date.
The Veta Colorada (including the Sierra Plata and El Verde mines) was a past producing mining operation owned by Grupo Mexico that closed in 1991 due to the low silver price. Endeavour acquired the Veta Colorada properties in 2016 along with the past producing San Patricio and Palmilla mines and related silver veins in the Parral district.
The Veta Colorada is a major silver vein structure that ranges from 1 to 30 m thick (average 5-10 m), was mined on 7 levels down to 300 m depths below surface in places and has been traced for 7 kilometers.
Surface and Underground Drill Results
Endeavour has drilled 6 surface and 9 underground drill holes so far this year, about half of the planned program, to test an area 600 m long by 500 m deep in and around the Sierra Plata mine workings. Every hole intersected strong silver mineralization, mostly adjacent to old workings, indicating that historic mining focused on very high silver grades and left behind significant high grade silver mineralization (view the Veta Colorada longitudinal section here).
Surface drilling highlights include 346 grams per tonne (gpt) silver over 9.6 m true width (11.1 oz per ton (opT) over 31.5 feet) in hole VCS-02. Underground drilling highlights include 332 gpt silver over 13.1 m true width (10.7 opT over 43.0 feet) in hole VCU-05. Several of the surface drill holes intersected old mine workings so the reported mineralized intervals represent only a part of the original silver mineralized zones.
Complete drill results are shown in the following table:
Surface Drill Results Hole Structure From True width Ag (m) (m) (gpt) VCS-01 Old Working (VC) 244.45 5.2 Old Working Veta Colorada 250.35 0.9 160 Including 250.70 0.2 412 VCS-02
Hw Veta Colorada 189.70 9.6 346 Including 192.50 0.5 784 Veta Colorada 201.45 5.0 283 Including 204.95 0.5 975 VCS-03
Hw Veta Colorada 202.50 3.0 242 Including 204.00 0.5 299 Veta Colorada 206.30 1.1 265 Old Working (VC) 207.40 4.1 Old Working Veta Colorada 211.50 1.5 263 Including 211.50 0.2 461 VCS-04 Old Working (VC) VCS-05 Old Working (HW VC) 142.70 1.7 Old Working Hw Veta Colorada 147.85 1.4 293 Including 148.35 0.4 457 Old Working (VC) 157.40 5.2 Old Working Veta Colorada 165.00 0.9 855 Including 165.60 0.4 1,170 VCS-06 Veta Colorada 236.50 1.1 228 Old Working VC 237.70 1.5 Old Working Including 236.95 0.7 320 Underground Drill Results VCU-01 Veta Colorada 172.55 3.7 300 Including 176.15 0.2 815 VCU-02 Veta Colorada 107.60 3.3 452 Including 110.35 0.4 842 Breccia 119.85 1.5 234 Including 119.85 0.2 695 Breccia 125.35 1.8 225 Including 125.95 0.4 350 VCU-03 Veta Colorada 59.95 8.2 326 Including 62.80 0.3 727 VCU-04 Veta Colorada 154.10 7.7 253 Including 160.80 0.4 1,200 VCU-05 Veta Colorada 87.00 13.1 332 Including 88.80 0.2 3,770 Breccia 114.85 0.9 225 Including 115.30 0.4 307 Breccia 127.15 2.2 186 Including 129.10 0.6 224 VCU-06 Veta Colorada 109.45 1.0 104 Including 110.70 0.1 382 VCU-07 Veta Colorada 66.40 13.0 154 Including 67.30 0.3 426 VCU-08 Veta Colorada 174.80 3.2 281 Including 174.80 0.4 527 VCU-09 Veta Colorada 171.90 1.2 549 Including 172.55 0.5 801
Underground Channel Sample Results
Endeavour sampled 3 blocks on level 7 to test an area 250 m long by 25 m vertically within the north part of the Sierra Plata mine. Only minor work was needed to re-access and make safe the historic main haulage ramp into the mine. The Company dewatered the lowest mine levels last year, sampled old mine fill on levels 1 to 6, and recognized the opportunity to drill unmined high grade in all mine levels and sample unmined high grade in the lower mine levels.
Channel sampling highlights include 2 samples exceeding 1,000 gpt such as 1,705 gpt silver over 0.55 m true width in channel 7+66 and 1,480 gpt silver over 0.95 m true width in channel 7+69. The full width of the vein is not exposed in many of the mine workings so the sampling results are only partly indicative of the silver mineralization.
The highest grade samples in the channels are shown in the following table:
Block Channel Sample ID Structure Width (m) Ag (g/t) 8-VC-16-8 7+7 PAR-1800 Bx Hw 0.90 578 8-VC-16-8 7+7 PAR-1802 Hw ? 1.20 746 8-VC-16-8 7+8 PAR-1806 Bx Hw 1.00 557 8-VC-16-8 7+8 PAR-1807 Hw ? 1.10 590 8-VC-16-8 7+11 PAR-1819 Bx Hw 1.10 546 8-VC-16-8 7+12 PAR-1825 Bx Hw 1.50 544 8-VC-16-8 7+12 PAR-1826 Bx Hw 0.80 911 8-VC-16-8 7+20 PAR-1867 Bx Hw 0.70 681 8-VC-16-8 7+20 PAR-1868 Bx Hw 1.00 676 8-VC-16-8 7+21 PAR-1869 Vn - F 0.30 547 8-VC-16-8 7+21 PAR-1874 Bx Hw 1.10 767 8-VC-16-8 7+23 PAR-1886 Bx Hw 0.90 509 8-VC-16-8 7+30 PAR-1930 Vn 1.00 527 Block Channel Sample ID Structure Width (m) Ag (g/t) 8-VC-17-8 7+33 PAR-1951 Bx Hw 1.10 438 8-VC-17-8 7+37 PAR-1974 Bx Hw 0.80 503 8-VC-17-8 7+47 PAR-2044 Vn-F 0.45 340 8-VC-17-8 7+48 PAR-2054 Bx Hw 0.90 568 8-VC-17-8 7+48 PAR-2055 Bx Hw 1.20 369 8-VC-17-8 7+48 PAR-2056 Bx Hw 0.90 339 8-VC-17-8 7+51 PAR-2081 Bx Hw 1.00 377 8-VC-17-8 7+52 PAR-2085 Fw 0.70 346 8-VC-17-8 7+55 PAR-2108 Vn-F 0.55 522 8-VC-17-8 7+62 PAR-2153 Vn-F 0.50 349 8VC-17-8 7-55 (-A) PAR-2515 Tcog Sil-Hem 0.90 376 8VC-17-8 7-58 (-A) PAR-2518 Tcog Sil-Hem 1.10 903 Block Channel Sample ID Structure Width (m) Ag (g/t) 7-VC-20, 8-VC-2-6 7+64 PAR-2167 Hw 0.85 439 7-VC-20, 8-VC-2-6 7+66 PAR-2182 Vn 0.95 402 7-VC-20, 8-VC-2-6 7+66 PAR-2184 Vn 0.90 721 7-VC-20, 8-VC-2-6 7+66 PAR-2185 Hw 0.55 1705 7-VC-20, 8-VC-2-6 7+66 PAR-2186 Hw 0.70 312 7-VC-20, 8-VC-2-6 7+67 PAR-2194 Vn 0.75 461 7-VC-20, 8-VC-2-6 7+67 PAR-2195 Vn 0.65 305 7-VC-20, 8-VC-2-6 7+68 PAR-2201 Vn 0.80 423 7-VC-20, 8-VC-2-6 7+68 PAR-2204 Vn 1.00 669 7-VC-20, 8-VC-2-6 7+68 PAR-2205 Vn 0.75 370 7-VC-20, 8-VC-2-6 7+69 PAR-2212 Vn 0.95 1480 7-VC-20, 8-VC-2-6 7+69 PAR-2213 Vn 0.90 583 7-VC-20, 8-VC-2-6 7+70 PAR-2219 Vn 1.10 418
Bradford Cooke, Endeavour CEO commented, “With the success of our ongoing drilling and sampling exploration programs so far this year, management views the Parral Project as having good potential to develop another new high grade silver mine. The Parral Project is our largest exploration expenditure this year and represents an important part of our growth strategy.”
“We have re-conceptualized the development of the Parral Project as a potential two stage mine project due to the readily accessible high grade mineralized blocks we have delineated underground. Given there are several toll mills operating in the Parral district, and we have already applied for a mining permit requiring minimal new surface disturbance, we envisage a first stage, small scale, high grade toll mine averaging around 200-250 tonnes per day to generate cash flow while we evaluate the possibility of a second stage, larger scale, 1,000-2,000 tpd high grade mine that could become a new core asset. We plan to mine a bulk sample and process it at a local toll mill in Q3, 2019 so that we can prepare a preliminary economic assessment for the stage one mine by year-end.”
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 owns and operates four high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision 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.
Galina Meleger, Director Investor Relations
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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 2019 including changes in mining operations and production levels, and the timing and results of various activities including the exploration and development of the Parral Project. 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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