Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK) is pleased to report positive drill results from its ongoing exploration program at its Parral project in the State of Chihuahua, Mexico. Since early December, the Company has drilled over 4,300 metres in 21 holes targeting several areas along the Veta Colorada structure.
Highlights from Recent Drill Results
Abbreviations include: gpt: grams per tonne; Au: gold; Ag: silver; Cu: copper; Pb: lead; Zn: zinc; ETW: estimated true width; m: metre; HW: hanging wall. Silver equivalents are calculated at a ratio of 80:1 silver:gold, silver price of $23 per troy ounce, copper price of $3.45 per pound, lead price of $0.90 per pound and zinc price of $1.20 per pound.
“These results increase our confidence that we are on the right path towards attaining the estimated mineral resource base necessary to advance the Parral project,” commented Dan Dickson, Chief Executive Officer. “We anticipate preparing a preliminary economic assessment starting late this year.”
History of the Property
The Parral project, which was acquired by Endeavour Silver in 2016, is in Hidalgo de Parral, a large historic silver mining district adjacent to the city of Parral, in the State of Chihuahua, Mexico. Classic, high-grade silver, epithermal vein deposits are present in the project district. The 3,432-hectare property is accessible by paved and gravel roads and has access to the local power grid.
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 low silver prices. Mineralization, which occurs in a major silver vein structure that ranges from 1 to 30 metres thick, was mined seven levels down to 300-metre depths below surface in places and was traced for seven kilometres.
NI43-101 Technical Report
The Company filed a NI 43-101 technical report on the Parral project, State of Chihuahua, Mexico on March 14, 2020. As of December 31, 2019, Parral had estimated indicated mineral resources of 613,000 tonnes, containing 4.0 million ounces of silver grading 207 g/t, 6,800 ounces of gold grading 0.35 g/t, 17.5 million pounds of lead grading 0.63%, and 16.5 million pounds of zinc grading 0.61%. Inferred mineral resources are estimated to total 4.04 million tonnes containing 35.0 million ounces of silver grading 269 g/t, 62,800 ounces of gold grading 0.48 g/t, 65.0 million pounds of lead grading 0.35% and 64.3 million pounds of zinc grading 0.35%.
Latest Drill Results
The Parral drill results are summarized in the following tables:
Parral – Veta Colorada Sierra Plata Deep (view Veta Colorada (Sierra Plata) longitudinal section)
Drill holes VCU-58 and VCU-66 returned no significant results
Parral – Veta Colorada El Verde (view Veta Colorada (El Verde) longitudinal section)
|Hole||Structure||From||To||Core Length||True Width||Au||Ag||Cu||Pb||Zn||AgEq|
|VCU-73||Hw Veta Colorada||165.20||166.65||1.45||1.25||0.14||310||0.082||1.81||1.96||448|
|VCU-75||Hw Veta Colorada||270.30||272.50||2.20||1.18||0.06||191||0.058||0.84||1.63||283|
|VCU-77||Hw Veta Colorada||234.00||236.90||2.90||2.29||0.01||129||0.013||1.21||0.44||179|
Drill holes VCU-70 and VCU-76 returned no significant results
Parral – Veta Colorada San Joaquin (view Veta Colorada (San Joaquin) longitudinal section)
Notes to Tables
[Au (gpt) X 80] + Ag (gpt) + [Cu (%) X 2204.6 X Cu Price / Ag Price X 31.1] + [Pb (%) X 2204.6 X Pb Price / Ag Price X 31.1] + [Zn (%) X 2204.6 X Zn Price / Ag Price X 31.1]
Qualified Person and QA/QC
Dale Mah, P.Geo., Vice President Corporate Development of Endeavour Silver, 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 Silver 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 to become a premier senior silver producer. The Company’s philosophy of corporate social integrity creates value for all stakeholders.
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