Endeavour Mining reports positive drill results at Agbaou including 10 metres at 10.9 g/t
GEORGE TOWN, Grand Cayman, Sept. 12, 2011 /CNW/ --
Toronto Stock Exchange: EDV
GEORGE TOWN, Grand Cayman, Sept. 12, 2011 /CNW/ - Endeavour Mining
Corporation ('Endeavour' or the 'Corporation') (TSX:EDV) is pleased to
report positive results from the ongoing drilling at its Agbaou Gold
project located in Côte d'Ivoire, West Africa.
Neil Woodyer stated 'We continue to be very encouraged by the results at
Agbaou and I am pleased to see this additional potential being
developed. Any additions to reserves that may arise from this latest
round of work can only serve to enhance the project.'
Infill Drill Program
The 7,000 metre infill portion of the drilling program at the Agbaou
feasibility-stage project in Côte d'Ivoire was completed in August 2011
and all results have now been received. A total of 63 holes were
drilled in the Main deposit and 22 holes were drilled in the South
deposit. The results have consistently demonstrated continuity of
grades and widths and confirmed the quality and interpretation of the
mineralised zones within the deposits. Intersections include 10 metres
at 10.90 g/t gold and 12 metres at 7.51 g/t gold, additional highlights
with true widths are provided in Table 1.
Table 1 Agbaou Main Infill Drilling Highlights
____________________________________________
| Hole ID |From|To (m)|Length| True | Au |
| |(m) | | (m) |Width (m)|Grade|
| | | | | |(g/t)|
|_________|____|______|______|_________|_____|
| AGBRC483| 20| 28| 8| 6.8| 7.11|
|_________|____|______|______|_________|_____|
|including| 24| 28| 4| 3.4|10.79|
|_________|____|______|______|_________|_____|
| AGBRC484| 14| 26| 12| 10.2| 1.78|
|_________|____|______|______|_________|_____|
|including| 14| 16| 2| 1.7| 8.61|
|_________|____|______|______|_________|_____|
| and| 36| 46| 10| 8.5|10.90|
|_________|____|______|______|_________|_____|
|including| 38| 44| 6| 5.1|16.39|
|_________|____|______|______|_________|_____|
| AGBRC485| 0| 8| 8| 6.8| 5.17|
|_________|____|______|______|_________|_____|
|including| 6| 8| 2| 1.7|18.04|
|_________|____|______|______|_________|_____|
| AGBRC486| 10| 20| 10| 8.5| 4.17|
|_________|____|______|______|_________|_____|
|including| 16| 20| 4| 3.4| 7.59|
|_________|____|______|______|_________|_____|
| AGBRC487| 10| 14| 4| 3.4| 1.60|
|_________|____|______|______|_________|_____|
| AGBRC488| 18| 28| 10| 8.5| 2.88|
|_________|____|______|______|_________|_____|
|including| 24| 26| 2| 1.7| 9.62|
|_________|____|______|______|_________|_____|
| AGBRC489| 10| 12| 2| 1.7| 4.37|
|_________|____|______|______|_________|_____|
| AGBRC490| 44| 58| 14| 11.9| 3.54|
|_________|____|______|______|_________|_____|
|including| 48| 50| 2| 1.7|15.08|
|_________|____|______|______|_________|_____|
| AGBRC491| 36| 54| 18| 15.3| 3.57|
|_________|____|______|______|_________|_____|
|including| 38| 44| 6| 5.1| 8.56|
|_________|____|______|______|_________|_____|
| AGBRC492| 56| 60| 4| 3.4|17.60|
|_________|____|______|______|_________|_____|
| AGBRC493| 44| 48| 4| 3.4| 2.06|
|_________|____|______|______|_________|_____|
| and| 70| 82| 12| 10.2| 4.67|
|_________|____|______|______|_________|_____|
|including| 72| 78| 6| 5.1| 7.37|
|_________|____|______|______|_________|_____|
| AGBRC494| 32| 34| 2| 1.7|19.95|
|_________|____|______|______|_________|_____|
| and| 50| 54| 4| 3.4| 1.29|
|_________|____|______|______|_________|_____|
| and| 70| 84| 14| 11.9| 4.43|
|_________|____|______|______|_________|_____|
|including| 70| 76| 6| 5.1| 8.30|
|_________|____|______|______|_________|_____|
| AGBRC495| 80| 102| 22| 18.7| 5.49|
|_________|____|______|______|_________|_____|
|including| 84| 86| 2| 1.7|21.67|
|_________|____|______|______|_________|_____|
| AGBRC496| 106| 112| 6| 5.1| 1.46|
|_________|____|______|______|_________|_____|
| AGBRC497| 82| 94| 12| 10.2| 7.51|
|_________|____|______|______|_________|_____|
|including| 88| 92| 4| 3.4|12.98|
|_________|____|______|______|_________|_____|
| AGBRC498| 46| 48| 2| 1.7| 8.54|
|_________|____|______|______|_________|_____|
| and| 84| 98| 14| 11.9| 5.45|
|_________|____|______|______|_________|_____|
|including| 88| 92| 4| 3.4|12.11|
|_________|____|______|______|_________|_____|
| AGBRC499| 76| 84| 8| 6.8| 3.75|
|_________|____|______|______|_________|_____|
|including| 78| 80| 2| 1.7| 7.06|
|_________|____|______|______|_________|_____|
| AGBRC500| 66| 74| 8| 6.8| 2.30|
|_________|____|______|______|_________|_____|
|including| 66| 70| 4| 3.4| 3.98|
|_________|____|______|______|_________|_____|
| AGBRC501| 32| 34| 2| 1.7| 7.34|
|_________|____|______|______|_________|_____|
| and| 88| 98| 10| 8.5| 2.91|
|_________|____|______|______|_________|_____|
|including| 92| 96| 4| 3.4| 5.83|
|_________|____|______|______|_________|_____|
| AGBRC502| 18| 28| 10| 8.5| 2.09|
|_________|____|______|______|_________|_____|
|including| 22| 24| 2| 1.7| 4.96|
|_________|____|______|______|_________|_____|
| and| 40| 54| 14| 11.9| 2.02|
|_________|____|______|______|_________|_____|
|including| 52| 54| 2| 1.7| 4.08|
|_________|____|______|______|_________|_____|
| AGBRC503| 50| 56| 6| 5.1| 1.72|
|_________|____|______|______|_________|_____|
|including| 54| 56| 2| 1.7| 4.06|
|_________|____|______|______|_________|_____|
| and| 70| 74| 4| 3.4| 8.37|
|_________|____|______|______|_________|_____|
| AGBRC504| 74| 76| 2| 1.7|11.52|
|_________|____|______|______|_________|_____|
| AGBRC505| 70| 76| 6| 5.1| 1.22|
|_________|____|______|______|_________|_____|
These new results are currently being incorporated into the database and
will reduce the nominal drill spacing down to 20 metres by 20 metres
over an area covering 200 metres by 260 metres of the Main deposit and
60 metres by 180 metres of the South deposit. The area of infill
drilling represents approximately 38% of the deposit area. This
additional data will be the basis for a revised resource estimate
planned to improve classification of portions of the mineral resource
from Indicated to Measured.
Condemnation/Exploration Drill Program
The condemnation/exploration program resumed in August 2011 and a second
drill rig was added to expedite the program, which was completed in
late August 2011. A total of 12,914 metres in 250 holes were completed
and assays have been reported for 60% of the program. Initial results
from this program had outlined six targets for further investigation
(News Release dated August 3, 2011). The most recent RC drill results
combined with a review of 2010 RAB drilling has identified four
additional targets for further drilling (Figure 1: Agbaou
Condemnation/Exploration Drill Plan - http://files.newswire.ca/910/Figure_1_Drill_Plan.pdf). New RC drilling results include 14 metres at 2.69 g/t gold, and 22
metres at 3.66 g/t gold including 2 metres at 14.05 g/t gold,
additional highlights are provided in Table 2.
The RAB drilling results from 2010 were reviewed in light of the
positive RC drilling and were used to highlight other areas that
warrant further drilling. Results include 6 metres at 1.04 g/t gold,
additional highlights are provided in Table 3.
Table 2 Agbaou Main Condemnation/Exploration Drilling Highlights
__________________________________
| Hole ID |From|To |Length|Au Grade|
| |(m) |(m)| (m) | (g/t) |
|_________|____|___|______|________|
| AGBRC384| 3| 15| 12| 0.66|
|_________|____|___|______|________|
| AGBRC387| 0| 6| 6| 0.88|
|_________|____|___|______|________|
| AGBRC388| 3| 6| 3| 1.42|
|_________|____|___|______|________|
| AGBRC397| 12| 15| 3| 2.04|
|_________|____|___|______|________|
| AGBRC599| 36| 38| 2| 1.06|
|_________|____|___|______|________|
| and| 44| 46| 2| 6.71|
|_________|____|___|______|________|
| AGBRC600| 8| 22| 14| 2.69|
|_________|____|___|______|________|
|including| 20| 22| 2| 14.45|
|_________|____|___|______|________|
| and| 24| 46| 22| 3.66|
|_________|____|___|______|________|
|including| 38| 40| 2| 14.05|
|_________|____|___|______|________|
| AGBRC601| 0| 14| 14| 1.25|
|_________|____|___|______|________|
| and| 12| 14| 2| 4.18|
|_________|____|___|______|________|
| AGBRC602| 2| 8| 6| 0.69|
|_________|____|___|______|________|
Table 3 Agbaou RAB Drilling Highlights
_________________________________
|Hole ID |From|To |Length|Au Grade|
| |(m) |(m)| (m) | (g/t) |
|________|____|___|______|________|
|AGBRB047| 0| 3| 3| 0.75|
|________|____|___|______|________|
|AGBRB048| 0| 3| 3| 0.68|
|________|____|___|______|________|
|AGBRB049| 0| 6| 6| 0.86|
|________|____|___|______|________|
|AGBRB050| 3| 9| 6| 1.04|
|________|____|___|______|________|
|AGBRB051| 0| 6| 6| 0.97|
|________|____|___|______|________|
Additional Exploration Campaign
The initial 2011 condemnation/exploration drill campaign was planned to
test the areas of significant mine infrastructure and resulted in the
identification of a combined total of ten new targets, including the
one target based on RAB drilling. This prompted Endeavour to allocate
an additional US$800,000 budget to complete an additional 9,500 metres
of RC drilling to further test these targets.
This additional drilling is being completed in two phases. Phase 1 is a
series of fences of holes that flank these targets and provide 100
metre spacing between intersections, which are currently on lines 300
metres apart. Phase 2 is a 100 metre step out from the Phase 1 holes
and will be adjusted based on the Phase 1 results.
Drilling has already commenced on Phase 1 of this additional campaign
using the two RC rigs already on site.
Mine Development
Endeavour is also pleased to announce that SENET, a South African
engineering company, has been engaged to update the Agbaou project in
support of development studies.
Qualified Person
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.
All sample preparations and standard 50-gram gold fire assays were
performed by Bureau Veritas Laboratories, Abidjan, Cote d'Ivoire.
Endeavour consistently employs a rigorous quality control and assurance
program comprising regular insertion of certified reference standards,
blanks and duplicates.
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'.
On behalf of Endeavour Mining Corporation
'Neil Woodyer'
Neil Woodyer
Chief Executive 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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2011/12/c2210.html
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, investor@endeavourmining.com