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Endeavour Silver Corp. (NYSE:EXK) (TSX: EDR) announces that exploration drilling on the Parral property in Chihuahua State, Mexico has discovered potential bulk tonnage silver mineralization within the Palmilla-Capuzaya-La Luz veins in the Palmilla mine area.
Palmilla was an historic high grade silver mine which provided silver to the Mexican mint in the late 1800's. While most of the narrow, high grade ores were mined out from underground workings located on and immediately south of the Parral property, Endeavour drilling has outlined lower grade, bulk tonnage mineralization above and along strike of the old workings that may be amenable to open pit mining.
Thirty two drill holes totaling 6,370 metres (m) of core were drilled to test the Palmilla mine area (view maps here). The drill holes were spaced at approximately 50 m centres along two main mineralized structures over an area 550 m long by 250 m wide by 150 m deep.
Drilling highlights include 11.1 m (36.4 feet (ft)) true width grading 154 grams per tonne (gpt) silver, 0.36 gpt gold, 0.07% lead and 0.23% zinc (179 gpt silver equivalent (AgEq) or 5.8 oz per tonne (opt) AgEq) in hole PAL-02. Other highlights include two intercepts of 11.0 m (36.1 ft) assaying 118 gpt silver, 0.60 gpt gold, 0.15% lead and 0.22% zinc (160 gpt AgEq or 5.1 opt AgEq) and 15.1 m (49.5 ft) running 114 gpt silver, 0.2 gpt gold, 0.22% lead and 0.33% zinc (128 gpt AgEq or 4.1 opt AgEq) in hole PAL-13.
Results for the 24 top drill intercepts are summarized in the table below.
Hole Structure From True width Au Ag Pb Zn AgEq
(m) (m) (gpt) (gpt) (%) (%) (gpt)
PAL-01 Capuzaya 102.00 13.08 0.14 49 0.254 0.651 59
Including
109.00 0.4 0.06 139 1.010 0.235 143
PAL-02 Palmilla 119.70 11.1 0.36 154 0.071 0.227 180
Including
145.45 0.5 0.15 1,115 0.045 0.227 1,126
PAL-04 Capuzaya 100.75 10.4 0.11 52 0.173 0.406 60
Including
117.90 0.2 0.38 166 0.237 1.005 192
PAL-05 Capuzaya 47.90 5.0 0.13 84 0.151 0.288 93
Including
51.85 0.3 1.02 757 0.477 0.083 828
PAL-06 Capuzaya 75.85 5.1 0.01 151 0.051 0.304 151
Including
78.15 0.6 0.01 486 0.066 0.322 487
PAL-07 Capuzaya 51.85 28.5 0.03 60 0.079 0.591 62
Including
58.60 1.0 0.03 347 0.455 0.079 349
PAL-08 Palmilla 69.15 13.4 0.35 79 0.168 0.279 103
Including
79.90 0.7 0.20 227 1.815 0.183 241
PAL-09 Capuzaya 82.10 11.8 0.09 139 0.141 0.219 145
including
85.15 0.3 0.19 1,050 2.360 0.224 1,063
PAL-10 Capuzaya 68.40 9.9 0.04 76 0.143 0.312 79
Including
72.90 0.9 0.04 233 0.191 0.178 236
PAL-11 Capuzaya 145.20 6.7 0.30 206 0.292 0.499 227
Including
147.20 0.3 1.17 889 0.155 0.108 971
PAL-13 La Luz 78.80 11.0 0.60 118 0.145 0.222 160
Including
Palmilla
including
84.40 0.7 2.13 596 0.621 0.159 745
97.05 15.1 0.20 114 0.216 0.331 128
108.15 0.4 0.21 383 0.144 0.220 398
PAL-14 Capuzaya 111.00 12.4 0.19 43 0.955 1.457 56
Including
119.40 0.6 0.87 222 6.290 0.290 283
PAL-15 La Luz 108.00 7.2 0.08 100 0.137 0.301 106
Including
113.90 0.4 0.14 572 0.682 0.438 582
PAL-17 Capuzaya 77.90 5.5 0.08 63 0.096 0.290 69
Including
81.50 1.0 0.08 126 0.096 0.387 132
PAL-18 Capuzaya 59.55 5.1 0.35 72 0.229 0.291 96
Including
59.55 0.4 0.70 284 1.605 0.328 333
PAL-20 Palmilla 14.80 12.8 0.58 63 0.018 0.109 104
Including
19.30 0.9 1.72 261 0.029 0.063 381
PAL-21 Capuzaya 101.35 13.4 0.10 91 0.361 0.565 98
including
125.05 0.3 0.14 499 0.544 0.948 509
PAL-22 La Luz 72.40 12.9 0.07 92 0.152 0.255 97
Including
Palmilla
Including
85.00 0.7 0.28 248 0.287 0.080 268
96.05 6.8 0.11 65 0.084 0.158 73
103.00 0.8 0.04 207 0.441 0.215 210
PAL-24 La Luz 115.70 5.2 0.05 47 0.142 0.429 51
Including
Palmilla
Including
126.40 0.3 0.01 119 0.054 0.277 120
177.30 5.0 0.11 96 0.313 0.255 103
182.00 0.3 0.13 582 0.289 0.145 591
PAL-25 La Luz 40.50 15.0 0.14 117 0.202 0.269 127
Including
Palmilla
Including
65.50 2.4 0.12 681 1.895 0.084 690
89.05 15.9 0.75 35 0.366 0.736 88
93.85 0.7 12.05 80 0.122 1.130 924
PAL-26 Capuzaya 55.90 6.0 0.01 61 0.081 0.528 62
Including
55.90 1.0 0.02 184 0.141 0.328 185
PAL-27 La Luz 130.60 5.1 0.10 79 0.164 0.476 85
Including
Palmilla
Including
138.60 0.2 0.07 490 0.848 0.353 495
173.20 6.8 0.21 64 0.837 0.520 79
174.25 0.7 0.04 215 0.766 0.151 218
PAL-29 La Luz 55.10 5.4 0.01 111 0.082 0.367 112
Including
Capuzaya
Including
56.10 0.3 0.03 437 0.078 0.894 439
144.00 5.7 0.01 446 0.402 0.678 447
145.20 0.9 0.01 2,170 0.576 0.437 2,171
PAL-32 Palmilla 77.35 13.2 0.56 121 0.192 0.388 160
Including
Capuzaya
Including
Silver equivalents are calculated at a ratio of 70:1 silver: gold, excluding base metals and expected recoveries
Luis Castro, Vice President of Exploration for Endeavour Silver, commented, "Our discovery of potential bulk tonnage silver-gold-lead-zinc mineralization in the Palmilla mine area, that may be amenable to open pit mining, is an exciting new development for the Parral district in general and our property in particular."
"It gives us a second mineralized area with resource potential to complement the Veta Colorada area where we have already verified a portion of the historic high grade silver resource (see news release dated October 24, 2017).
"Drilling continues on the Parral property in a third mineralized area known as the San Patricio vein which lies to the north of Palmilla. A new resource estimate for the Parral property will be prepared at year-end for release in the 1 quarter of 2018."
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 and silver are determined by fire assay with an atomic absorption (AA) finish.
About Endeavour Silver - Endeavour Silver is a mid-tier precious metals mining company that owns three high grade, underground, silver-gold mines in Mexico. Since startâ?'up in 2004, Endeavour has grown its mining operations organically to produce 9.7 million ounces of silver and equivalents in 2016. We find, build and operate quality silver mines in a sustainable way to create real value for all stakeholders. Endeavour Silver's shares trade on the TSX (EDR) and the NYSE (EXK).
Contact Information - For more information, please contact:
Galina Meleger, Director of Investor Relations
Toll free: (877) 685-9775
Fax: (604) 685-9744
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com
Cautionary Note Regarding Forward-Looking Statements
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 forwardâ?'looking statements and information herein include but are not limited to statements regarding Endeavour's anticipated performance in 2017 including changes in mining and operations and the timing and results of various activities. 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.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Inf ormation Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statem ents or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
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