SOURCE: Endeavour Silver Corp.

Endeavour Silver Corp.

June 27, 2016 06:55 ET

Endeavour Silver Outlines Several Prospective New Silver-Gold Veins on the Terronera Property in Jalisco State, Mexico

VANCOUVER, BC--(Marketwired - June 27, 2016) - Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK) announces that its surface exploration program has outlined several prospective new silver-gold veins on the Terronera property in Jalisco State, Mexico. To date, mapping has extended the Terronera vein system over a 7 kilometre (km) by 7 km area and identified nine additional veins in the northern half of the property (view map).

Sampling of the Terronera vein system confirmed that high-grade, low sulphidation epithermal silver-gold mineralization is present in many of the veins. Assays of several thousand samples, including grab samples, selected samples and chip samples, returned values up to 2,880 grams per tonne (gpt) silver and up to 26.7 gpt gold.

Assay highlights from five of the new veins are summarized in the table below. These assays are intended to show peak values confirming the presence of high-grade mineralization and should not be taken as representative of the entire veins. Most of these new veins have never been tested by drilling. Silver equivalents are calculated at a ratio of 70:1 silver:gold.

             
Vein  Sample No  Au  Ag  AgEq
 (gpt)  (gpt)  (gpt)
Las Coloradas  17540  6.41  2,880  3,329
 17542  0.59  850  891
 17543  1.52  1,005  1,111
 17555  0.13  294  303
 17579  0.25  282  300
Los Reyes  15808  0.10  585  592
 15813  1.93  393  528
 15814  0.99  562  631
 15875  1.42  630  729
 17259  4.03  1,050  1,332
 17264  0.73  743  794
 17302  1.94  575  711
La Ermita  15261  0.13  398  407
 15358  0.88  506  568
 15359  0.48  387  421
 15361  0.55  290  329
 15367  0.37  423  449
 15369  0.43  1,355  1,385
 15470  0.13  342  351
El Padre  14223  0.87  135  196
 14061  10.10  148  855
 14208  0.58  174  215
 14226  0.52  227  263
 14229  1.97  315  453
 14207  0.73  325  376
 14221  0.66  358  404
La Luz  12840  20.70  506  1,955
 12832  5.31  555  927
 14019  0.52  564  600
 12836  6.82  567  1,044
 12862  7.81  576  1,123
 12837  5.70  589  988
 12838  26.70  763  2,632
 12833  11.15  763  1,544
 12808  8.09  818  1,384
 12907  7.40  951  1,469
         

General descriptions of five of the new veins are shown in the table below:

             
Target  Length (m)  Width (m)  General Description  Results (ranges)
 Au ppm  Ag ppm
Las Coloradas  700  0.85-2.30  Quartz vein (gray, saccaroidal to massive); with disseminated sulphides; dendriticOxMn, OxFe in fractures; associated argillized rhyolitic volcanics, with oxidized disseminated pyrite  0.005-6.41  4.0-2880
Los Reyes  1,800  0.25-2.55  Quartz vein (white-crystalline); with traces of OxMn + OxFe; hosted in silicified rhyolitic volcanics  0.006-4.03  0.2-1050
La Ermita  600  0.15 - 3.00  Quartz vein (white-massive), with moderate to strong OxFe + OxMn + hematite, in druses and boxworks; traces of pyrite and other sulphides; with stockwork zones at the hanging wall and footwall.  0.005-0.88  0.4-1355
El Padre  1,800  0.40 - 4.00  Quartz vein (white-massive); with moderate to strong oxidation, at some parts intense OxMn. Quartz stockwork observed at the hanging wall. with disseminated pyrite and traces of gray sulphides, intervals with very white quartz and weak oxidation.  < 0.005-10.10  < 0.2-358
La Luz  1,550  0.30 - 3.00  Quartz Vein (white-massive), with moderate to strong oxidation; some hydrothermal breccias with stockwork zones, with moderate oxidation, and some massive quartz, with weak oxidation; OxFe + OxMn;  < 0.005-26.7  0.5-951
           

Luis Castro, Vice President of Exploration, commented, "These excellent sample results confirm that Endeavour owns an entire vein district on the Terronera property, with many veins exhibiting high-grade silver-gold mineralization and small historic mine workings but no past exploration drilling. Currently we have two drill rigs testing the El Padre and La Luz veins."

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 has been instituted 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 - Endeavour Silver Corp. is a mid-tier precious metals mining company that operates three high-grade, underground, silver-gold mines in Mexico. Since start-up in 2004, the Company has organically grown its mining operations to produce 11.4 million ounces of silver equivalents in 2015. Endeavour's growing discovery of high-grade silver-gold mineralization on the Terronera property in Jalisco state, combined with the recent acquisition of the permitted El Compas mine and plant in Zacatecas state, should facilitate the Company's goal to become a premier senior producer in the silver mining sector.

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Contact Information

  • For more information, please contact:
    Meghan Brown
    Director Investor Relations
    Toll free: 1-877-685-9775
    Tel: 604-640-4804
    Fax: 604-685-9744
    Email: mbrown@edrsilver.com
    Website: www.edrsilver.com