The Prospector News

Endeavour Silver Produces 1,305,399 oz Silver and 10,541 oz Gold for 2.1 Million oz Silver Equivalents in Q3, 2021; 2021 Consolidated Production Guidance Raised to 7.7 – 8.0 Million oz Silver Equivalents

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Endeavour Silver Produces 1,305,399 oz Silver and 10,541 oz Gold for 2.1 Million oz Silver Equivalents in Q3, 2021; 2021 Consolidated Production Guidance Raised to 7.7 – 8.0 Million oz Silver Equivalents






Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) reports production of 1,305,399 silver ounces (oz) and 10,541 gold oz in Q3, 2021, for silver equivalent production of 2.1 million oz at an 80:1 silver:gold ratio, totaling 6.1 million AgEq oz for the 9 months ended September 30, 2021.


Management has increased 2021 consolidated production guidance to 7.7 – 8.0 million oz silver equivalents to reflect continued strong performance at Guanacevi due to higher than expected grades and tonnage milled. Full details are provided in the section, “Revision to Full Year 2021 Guidance” in this news release.


2021 Third Quarter Highlights


  • Consolidated Production Ahead of Plan: Silver equivalent production at each mine is on track to meet or exceed 2021 production plans.
  • Guanacevi Production Ahead of Plan:  Higher throughput and higher silver and gold grades resulted in record production during the quarter, ahead of the annual plan. Based on continued strong performance, the operations team has significantly improved the production outlook for the full year, resulting in an estimated 20% increase in silver equivalent metal.
  • Bolanitos Production on Plan: Processed tonnes were ahead of plan, offset by lower ore grades.
  • El Compas Suspended: Final stockpiles were processed subsequent to the suspension of operations in early August. Most of the company personnel have been transferred to other sites or laid off, while the mine and plant have been placed on temporary care and maintenance. Management is evaluating several opportunities.
  • Metal Sales and Inventories: Sold 699,540 oz silver and 9,925 oz gold, held 1,030,304 oz silver and 1,211 oz gold of bullion inventory and 37,100 oz silver and 2,028 oz gold in concentrate inventory.  Management continued to withhold metal from sale during the price correction over the third quarter and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound.
  • Robust Economics in the Terronera Feasibility Study: Favorable outcomes including improved confidence in the project cost, design and operability provide a strong position for securing project financing. The Terronera Project Technical Report, authored in accordance with National Instrument 43-101, will be filed on SEDAR and EDGAR by October 24, 2021.
  • Acquired Bruner Gold Project in Nye County, Nevada:  Completed the acquisition of an advanced stage gold exploration project in a favourable jurisdiction for US$10 million in cash.


Dan Dickson, CEO, commented, “We are well positioned to exceed our original full year consolidated production guidance, which has led to the decision to formally revise our annual targets. Our 2021 business plan shows strong performance, which has resulted in higher production than last year, despite suspending operations at the small El Compas mine. This reaffirms an important year of investment into our people and culture programs to ensure the long-term sustainability of our operations.”


“Entering the fourth quarter, we are also continuing with our exploration programs and anticipate releasing additional drill results at Terronera, building on the encouraging regional results we announced previously this year. We are advancing the Terronera development and continue to negotiate critical contracts, procure various long lead equipment items and general mine equipment, are increasing the work force and preparing for early earth works.”


Mine Operations


Consolidated silver production increased by 39% compared to Q3 2020, primarily driven by a 46% increase in silver production at the Guanacevi mine offset by the suspension of operations at the El Compas mine.  Gold production increased by 3% with the Guanacevi mine seeing a 47% increase in silver equivalent ounces produced which was offset the suspension of operations at the El Compas mine.  Silver and gold production at the Bolanitos mine increased moderately with a 11% increase in silver production and an 8% increase in gold production.


Guanacevi throughput exceeded plan and mining the new higher grade El Curso orebody has led to significantly improved grades and mine plan flexibility. Additionally, supplies of local third-party ores continued to supplement mine production, amounting to 10% of quarterly throughput, and contributing to the higher ore grades.


Bolanitos and El Compas processed tonnes were higher compared to plan and offset by lower grades, due to normal variations in the Bolanitos ore body and a lower grade of the final stockpile at El Compas.


As previously disclosed by the Company (see news release dated January 7, 2021), the existing reserve at El Compas was sufficient to continue mining until mid-2021. Management suspended operations in early August and is currently assessing opportunities.


Revision to Full Year 2021 Production Guidance


Updates to the full year 2021 consolidated production guidance are driven by strong performance at Guanacevi, while production at Bolanitos will remain the same as originally estimated for silver with a small increase in gold. Other operational components of the Company’s full year guidance remain unchanged from the targets released in the news release dated January 28, 2021, with the exception of the newly increased development budget at Terronera for an additional $13 million until year end.


The COVID-19 pandemic remains relevant in Mexico, and at the Company’s business locations, process and protocols remain in place to ensure staff and workers as well as our communities remain as safe as possible.  Any unforeseen outbreaks could impact production.


  Guanacevi Bolanitos El Compas Consolidated
Tonnes per Day (TPD) 1,000 – 1,200 1,000 – 1,200 200 – 250 2,400 – 2,650
Silver Production (M oz) 4.0 – 4.2 0.4 – 0.5 0.1 – 0.1 4.5 – 4.8
Gold Production (K oz) 12.0 – 13.0 24.0 – 25.0 4.1 – 4.1 40.1 – 42.1
Silver Eq Production (M oz) 5.0 – 5.2 2.3 – 2.5 0.4 – 0.4 7.7 – 8.0
2021 silver equivalent production is calculated using an 80:1 silver:gold ratio.



Production Highlights for Three Months and Nine Months Ended September 30, 2021


Three Month Ended September   Nine Months Ended September
2021 2020 % Change   2021 2020 % Change
222,461 206,324 8% Throughput (tonnes) 673,932 519,771 30%
1,305,399 942,274 39% Silver ounces produced 3,427,223 2,396,478 43%
10,541 10,260 3% Gold ounces produced 32,816 24,553 34%
1,295,126 932,837 39% Payable silver ounces produced 3,394,103 2,373,246 43%
10,328 10,041 3% Payable gold ounces produced 32,177 24,078 34%
2,148,679 1,763,074 22% Silver equivalent ounces produced (1) 6,052,503 4,360,718 39%
699,539 741,262 (6%) Silver ounces sold 2,443,184 2,041,601 20%
9,925 8,997 10% Gold ounces sold 30,398 21,669 40%
Silver equivalent ounces calculated using 80:1 ratio.



Production Tables for Third Quarter, 2021 by Mine (1)


Production Tonnes Tonnes Grade Grade Recovery Recovery Silver Gold
by mine Produced per day Ag gpt(1) Au gpt(1) Ag  % Au  % Oz Oz
Guanaceví 105,496 1,147 387 1.13 89.5% 94.1% 1,174,168 3,605
Bolañitos 107,752 1,171 41 1.98 87.2% 90.6% 123,883 6,215
El Compas 9,213 192 24 1.81 103.4% 134.5% 7,348 721
Consolidated 222,461 2,445 204 1.57 89.3% 93.9% 1,305,399 10,541
(1) gpt = grams per tonne



Production Tables for Nine Months Ended September 30, 2021 by Mine (1)


Production Tonnes Tonnes Grade Grade Recovery Recovery Silver Gold
by mine Produced per day Ag gpt(1) Au gpt(1) Ag  % Au  % Oz Oz
Guanaceví 306,021 1,117 353 1.05 87.3% 91.3% 3,031,626 9,432
Bolañitos 313,356 1,144 39 2.09 89.1% 90.9% 350,154 19,150
El Compas 54,555 199 36 3.05 72.0% 79.1% 45,443 4,234
Consolidated 673,932 2,460 181 1.70 87.2% 89.3% 3,427,223 32,816
(1) gpt = grams per tonne



About Endeavour Silver


Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates two 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.


Posted October 7, 2021

Share this news article


Red Pine Extends Mineralization 140 m Down-Dip of the Current Surluga Resource

Red Pine Exploration Inc. (TSX-V: RPX) is pleased to report drilling results fr... READ MORE

January 21, 2022

Sierra Metals Announces Positive Updated PEA on the Expansion at Its Yauricocha Mine in Peru

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) is... READ MORE

January 21, 2022

Western Uranium & Vanadium Corp. Closes Oversubscribed Second Tranche of Private Placement for $4,000,000

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) is... READ MORE

January 20, 2022

Well mineralized Gold-Copper Porphyry intersected below Alba gold discovery, Bramaderos Project, Ecuador

Cornerstone Capital Resources Inc. (TSX-V:CGP) (OTC:CTNXF) (FWB:GWN1) is pleased to p... READ MORE

January 20, 2022

Monarch Continues to Define High-Grade Gold Mineralization Near Surface at the Beaufor Mine With 99.7 g/t Au Over 0.6 m (1.97 Ft)

Monarch has received the final assays from its 2021 surface drill... READ MORE

January 20, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News