Endeavour Silver Extends High Grade Silver-Gold Mineralization in the Lana Vein at the Bolanitos Mine in Mexico; Drilling Intersects 2,300 gpt Silver and 7.1 gpt Gold Over 0.5 Meter Width
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- Endeavour Silver Corp. (TSX: EDR)(NYSE: EXK)(FRANKFURT: EJD) announces that exploration drilling at Endeavour's Bolanitos Mine in Guanajuato State, Mexico continues to intersect high silver and gold grades over mineable widths, extending the known mineralized zone in the Lana vein to more than 750 meters (m) long, still open for expansion.
Drilling highlights in the Lana vein include 155 grams per tonne (gpt) silver and 2.00 gpt gold over 5.88 m true width (7.4 ounces per ton (opT) silver equivalents based on a silver: gold ratio of 50:1 over 19.3 feet (ft)) in hole LJ11-1; and 2,300 gpt silver and 7.11 gpt gold over 0.53 m true width (77.4 opT silver equivalents over 1.7 ft) in hole LJ11-2. Click here to view Longitudinal Section: http://www.edrsilver.com/i/maps/Longitudinal_Section_LanaVein.jpg.
Drill results are as follows:
Lana Vein Drill Results
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True
From Width Ag Au Ag Eq.
Hole Vein (m) (m) (gpt) (gpt) (opT)
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LJ2-1 Lana 270.20 1.69 408 0.92 13.2
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LJ2-2 Breccia 264.75 0.46 110 26.90 42.4
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LJ4-4 FW Lana 285.70 0.82 225 2.86 10.7
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LJ8-3 Breccia 334.35 0.90 44 19.89 30.3
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Lana 249.40 4.64 169 1.74 7.5
LJ9-1 Including 249.40 0.17 752 15.10 43.9
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Lana 272.40 1.90 156 1.50 6.7
LJ9-2 Including 274.15 0.32 321 7.46 20.2
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Lana 198.10 7.04 156 0.24 4.9
LJ9-4 Including 206.05 0.43 733 0.94 22.7
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HW Lana 129.95 0.98 164 0.43 5.4
LJ10-4 Lana 138.40 0.83 136 1.34 5.9
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Lana 273.60 5.88 155 2.00 7.4
LJ11-1 Including 274.70 0.75 796 8.86 36.1
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LJ11.5-4 HW Lana 136.40 1.50 213 0.38 6.8
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FW Lana 321.20 2.01 877 3.53 30.7
LJ11-2 Including 322.60 0.53 2300 7.11 77.4
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Lana 126.95 2.01 325 0.86 10.7
LJ11-3 Including 127.90 0.47 945 2.20 30.8
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Vein 149.35 0.89 298 0.75 9.8
LJ11-4 Vein 301.45 1.52 11 5.36 8.1
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LJ12.5-3 Vein 251.20 2.47 261 0.44 8.3
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LJ12.5-4 Breccia 129.90 1.50 297 2.17 11.8
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FW Lana 279.70 2.75 355 3.86 16.0
LJ13-2 Including 283.30 0.55 591 2.55 20.9
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Lana 310.10 0.80 350 0.66 11.2
LJ14-2 FW Lana 357.80 1.15 342 1.60 12.3
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LJ14-3 Lana 315.85 0.91 317 2.50 12.9
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Bradford Cooke, CEO and Director, commented, "Our exploration efforts continue to bear fruit around the Bolanitos mine. The Lana vein was discovered late last year when it was thought to be a splay of the La Joya vein but the drill results this year have shown it to be a separate robust mineralized vein structure. An initial resource estimate will be prepared at year-end so that the Lana vein can be brought into the 2013 mine plan for the Lucero-Karina-Fernanda-Daniela area."
"However, given the Lana vein proximity to the east of the Daniela vein, a crosscut tunnel was started in Q2, 2012 from the Daniela mine workings in order to fast-track mine access to the Lana vein. The crosscut tunnel should intersect the Lana vein this month, thereby facilitating mine development this year and production starting next year. Two drill rigs continue to work in the Bolanitos Mine area, testing other attractive drill targets such as Asuncion and Belen in the La Luz sub-district."
Barry Devlin, M.Sc., P.Geo., Vice President, Exploration, is the Qualified Person who reviewed this news release and supervised the drilling programs on the Bolanitos Mine properties. A Quality Control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples were split at the Guanajuato 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 and other elements are determined by AA.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chief Executive Officer
About Endeavour Silver Corp.: Endeavour Silver is a premier mid-tier silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted seven consecutive years of growing silver production, reserves and resources. The organic expansion programs now underway at Endeavour's three operating silver mines in Mexico combined with its strategic acquisition and exploration programs should facilitate Endeavour's goal to become the next premier senior silver mining company.
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 forward-looking statements and information herein include, but are not limited to, statements regarding Endeavour's anticipated performance in 2011, including revenue, cash cost and capital cost forecasts, silver and gold production, timing and expenditures to develop new silver mines and mineralized zones, silver and gold grades and recoveries, cash costs per ounce, capital expenditures and sustaining capital and the use of the Company's working capital. 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, among others: fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); fluctuations in the price of consumed commodities, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, reliability of calculation of mineral reserves and resources and precious metal recoveries, diminishing quantities or grades of mineral reserves as properties are mined; the ability to successfully integrate acquisitions; risks in obtaining necessary licenses and permits, global market events and conditions 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 Information 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 statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Contacts:
Endeavour Silver Corp.
Lana McCray
Manager, Corporate Communications
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
lmccray@edrsilver.com
www.edrsilver.com