Endeavour Mining Corp. Rreports Positive Exploration Results at Youga including 5m at 24.9 g/t Gold
24.01.2011 | CNW
GEORGE TOWN, Grand Cayman, Jan. 24 /CNW/ - Endeavour Mining Corporation ("Endeavour") is pleased to report positive results from exploration on its Youga Gold Mine located in Burkina Faso, West Africa. The focused 2010 exploration campaign identified several new resource targets including the A2NE and LeDuc Zones. These targets are located within the existing Youga Mine Permit and within 3 kilometres of the Youga Plant.Endeavour\'s Youga Gold Mine, which has been in production since 2008, produced 82,400 ounces of gold in 2010 and is targeting production of 84,000 ounces of gold in 2011. Endeavour\'s on-going exploration focus is the addition of mineral reserves at Youga. Building on the success of the 2010 Youga exploration campaign, Endeavour has expanded the program and committed a further US$10 million in 2011.
A2NE
The A2NE target is located three kilometres to the northeast of the Youga plant. The 2010 program included reverse-circulation ("RC") and diamond drilling along a 350 metre strike. All 52 holes intersected mineralization and were successful in establishing the continuity of the deposit. Highlights of that drilling program are reported in Table 1.
Results from the recently completed RC step-out drilling at A2NE reported several high-grade intersections including; YNRC-045 with 5m @ 24.9g/t including 1m @ 107g/t, YNRC-040 with 9m @ 4.8g/t including 3m @ 13.4g/t and YNRC-048 with 8m @ 1.5g/t including 1m @ 4.1g/t (see Table 2).
These results represent an additional 300 metres of strike length on the western end of the portion of this deposit which is currently undergoing resource evaluation.
Table 1 A2NE 2010 Drilling Highlights
Hole ID Type From (m) To (m) Interval (m) True Width (m) Au Grade (g/t)
YNRC-003 RC 8 28 20 17 1.8
Including 18 22 4 4.6
YNRC-014 RC 11 27 16 13 1.8
Including 26 27 1 16.4
YNRC-020 RC 35 45 10 8 2.8
Including 35 39 4 5.3
YNE-10-002 DDH 8.6 31 22.4 18 3.1
Including 21 22.5 1.5 18.6
YNE-10-018 DDH 80 83 3 3 37.2
Including 80 81 1 104.0
Table 2 A2NE 2010 Step-out Drilling Highlights
Hole ID Type From (m) To (m) Interval (m) Au Grade (g/t)
YNRC-039 RC 0 1 1 29.9
YNRC-040 RC 37 46 9 4.8
Including 37 40 3 13.4
YNRC-044 RC 17 23 6 5.3
Including 17 20 3 9.7
YNRC-045 RC 58 63 5 24.9
Including 61 62 1 107.0
YNRC-048 RC 2 10 8 1.5
Including 6 7 1 4.1
Also 27 28 1 7.2
YNRC-052 RC 0 1 1 17.1
YNRC-053 RC 6 11 5 7.5
Including 8 11 3 12.1
*All intervals for the step out are reported as down hole lengths and are not corrected to true widths for the mineralized intervals. Additional work is required to determine true widths.
LeDuc
The LeDuc target is situated three kilometres southwest of the Youga plant. The RC program on the LeDuc zone was only partially completed prior to the year-end break. Highlights from the reported intersections include; YLRC-008 with 20m @ 1.7g/t, YLRC-001 with 22m @ 1.0g/t including 2m @ 3.1g/t and YLRC-010 with 21m @ 1.1g/t (see Table 3). The completion of this program and follow up on the initial results is planned for 2011.
Table 3 LeDuc 2010 Drilling Highlights
Hole ID Type From (m) To (m) Interval (m) Au Grade (g/t)
YLRC-001 RC 80 102 22 1.0
Including 87 89 2 3.1
YLRC-002 RC 15 30 15 1.0
Including 18 19 1 2.4
Also 93 110 17 1.1
Including 93 94 1 4.4
YLRC-003 RC 8 23 15 1.0
Including 8 10 2 2.7
YLRC-008 RC 84 104 20 1.7
YLRC-009 RC 80 91 11 0.9
YLRC-010 RC 108 129 21 1.1
*All intervals for the LeDuc drilling are reported as down hole lengths and are not corrected to true widths for the mineralized intervals. Additional work is required to determine true widths.
Accelerated Exploration Campaign at Youga Mine and Youga Gold Belt in 2011
Building on the success of the 2010 Youga exploration campaign, Endeavour has committed a further US$10 million in 2011 to accelerate its exploration and resource delineation campaign with the objective of increasing mineral resources and reserves that will extend the Youga mine life. The 2011 program includes in excess of 50,000 metres of combined RC and diamond drilling.
Follow-up and infill drilling is currently underway on these new drill targets and additional mineral resources will be reported in during Q1 2011.
Qualified Persons
K. Kirk Woodman, P.Geo., Head of Exploration is the Qualified Person overseeing Endeavour\'s exploration projects in West Africa and has reviewed and approved this press release.
Adrian De Freitas, C.Eng., General Manager, Youga Mine is the Qualified Person overseeing production and development in West Africa and has reviewed and approved this press release.
About Endeavour Mining Corporation
Endeavour is a gold producer. Endeavour also holds an extensive exploration land position and various advanced-stage development gold projects in West Africa. Endeavour has a global strategy, supported by financial resources and management\'s company building expertise, to grow into an intermediate gold producer through strategic acquisitions.
The common shares of Endeavour Mining Corporation are traded on the Toronto Stock Exchange under the symbol "EDV".
For additional information, please visit our corporate website at www.endeavourmining.com.
On behalf of Endeavour Mining Corporation
"Bill Koutsouras"
Bill Koutsouras
Executive Vice President & Chief Financial Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of Endeavour Mining Corporation. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Corporation\'s filings with the appropriate securities commissions.
For further information:
Stephen Roberts, Senior Vice President -- Investor Relations, (604) 609-6130
sroberts@endeavourmining.com
or
Vanguard Shareholder Solutions, 1-866-341-4111 or (604) 608-0824
email: investor@endeavourmining.com