Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) is pleased to report positive drill results from its ongoing exploration program at the 3,432-hectare Parral project situated in the State of Chihuahua, Mexico.
During the last 11 months, until the end of November, the Company has drilled over 14,000 metres in 59 holes targeting several areas along the La Colorada vein.
Highlights from Recent Drill Results
- 2,846 gpt Ag, 0.65% Cu over a 0.89 m ETW, including 3,380 gpt Ag, 0.77% Cu over 0.75 m (VCS-10)
- 840 gpt Ag, 0.11 gpt Au, 0.25% Cu, 9.09% Pb and 4.74% Zn for 1,288 gpt AgEq over a 2.77 m ETW, including 1,585 gpt Ag, 0.26 gpt Au, 0.55% Cu, 34.88% Pb and 4.38% Zn for 2,755 gpt AgEq over 0.36 m (VCU-38)
- 708 gpt Ag, 0.55 gpt Au, 0.16% Cu, 10.95% Pb and 12.38% Zn for 1,504 gpt AgEq over a 1.23 m ETW, including 1,130 gpt Ag, 0.91 gpt Au, 18.95% Pb and 18.70% Zn for 2,406 gpt AgEq over 0.69 m (VCU-50)
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.
“The Parral project continues to deliver great results,” commented Dan Dickson, Chief Executive Officer. “Following limited drilling in 2020 due to the pandemic, it was a priority for our exploration team to re-start the exploration program at Parral this year to expand on the mineral resource estimate we published on the project in early 2020. Our goal is to continue the drill program at Parral in 2022 as we get closer to achieving the scale required to support a positive economic assessment.”
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. The project district comprises classic, high-grade silver, epithermal vein deposits, characterized by low-sulphidation mineralization. The property is accessible by paved and gravel roads and has access to the local power grid.
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 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.
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%.
Due to the COVID-19 pandemic, the Company suspended the Parral drill programs in early 2020 and resumed drilling in 2021.
The Parral drill results are summarized in the following tables:
Parral – Veta Colorada Sierra Plata Shallow
Note: Drill holes VCS-8, VCS-9, VCS-11, VCS 13, VCS-29, VCS-30, VCS-31 and VCS-32 returned no significant results
Parral – Veta Colorada San Joaquin (view Veta Colorada (San Joaquin) longitudinal sections)
Note: Drill holes VCS-15, VCS-16, VCS-17, VCS-22 and VCS-23 returned no significant results
Parral – Veta Colorada Sierra Plata Deep (view Veta Colorada (Sierra Plata) longitudinal sections)
|VCU-27||Hw Veta Colorada||146.15||1.12||0.01||164||0.00||0.06||0.20||173|
|VCU-55||Hw Veta Colorada||83.45||1.2||0.02||164||0.06||0.47||1.04||221|
Note: Drill holes VCU-23, VCU-29, VCU-34, VCU-44, VCU-45, VCU-46, VCU-51, VCU-52, VCU-54 and VCU-56 returned no significant results
Parral – Veta Colorada El Verde (view Veta Colorada (El Verde) longitudinal sections)
|VCU-36||Hw Veta Colorada||100.75||2.30||0.09||182||0.08||3.17||2.84||384|
|VCU-37||Hw Veta Colorada||128.70||3.31||0.20||198||0.06||2.54||2.57||381|
|VCU-38||Hw Veta Colorada||238.15||1.75||0.05||204||0.07||0.78||1.17||278|
|VCU-43||Hw Veta Colorada||163.65||1.60||0.16||240||0.05||0.26||0.48||281|
1. Drill holes VCU-39 and VCU-42 returned no significant results
2. Silver equivalents are calculated using the formula:[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]
3. Price assumptions used are: Cu $3.45, Pb $0.90, Zn $1.20 and Ag $23.00
4. All widths are estimated true widths
5. No capping has been applied but high-grade intervals have been highlighted
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 SGS 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.