Endeavour Silver Drilling Discovers Potential Bulk Tonnage Silver Mineralization in the Palmilla Mine Area, Parral Project, Chihuahua, Mexico

2017-11-15 / @nasdaq

 

VANCOUVER, British Columbia, Nov.15, 2017(GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE:EXK) (TSX: EDR) announces that exploration drilling on the Parral property in Chihuahua State, Mexico has discovered potential bulk tonnage silver mineralization within the Palmilla-Capuzaya-La Luz veins in the Palmilla mine area.

Palmilla was an historic high grade silver mine which provided silver to the Mexican mint in the late 1800's.While most of the narrow, high grade ores were mined out from underground workings located on and immediately south of the Parral property, Endeavour drilling has outlined lower grade, bulk tonnage mineralization above and along strike of the old workings that may be amenable to open pit mining.

Thirty two drill holes totaling 6,370 metres (m) of core were drilled to test the Palmilla mine area (view maps here). The drill holes were spaced at approximately 50 m centres along two main mineralized structures over an area 550 m long by 250 m wide by 150 m deep.

Drilling highlights include 11.1 m (36.4 feet (ft)) true width grading 154 grams per tonne (gpt) silver, 0.36 gpt gold, 0.07% lead and 0.23% zinc (179 gpt silver equivalent (AgEq) or 5.8 oz per tonne (opt) AgEq) in hole PAL-02.Other highlights include two intercepts of 11.0 m (36.1 ft) assaying 118 gpt silver, 0.60 gpt gold, 0.15% lead and 0.22% zinc (160 gpt AgEq or 5.1 opt AgEq) and 15.1 m (49.5 ft) running 114 gpt silver, 0.2 gpt gold, 0.22% lead and 0.33% zinc (128 gpt AgEq or 4.1 opt AgEq) in hole PAL-13.

Results for the 24 top drill intercepts are summarized in the table below.

HoleStructureFromTrue widthAuAgPbZnAgEq
(m)(m)(gpt)(gpt)(%)(%)(gpt)
PAL-01Capuzaya
Including
102.0013.080.14490.2540.65159
109.000.40.061391.0100.235143
PAL-02Palmilla
Including
119.7011.10.361540.0710.227180
145.450.50.151,1150.0450.2271,126
PAL-04Capuzaya
Including
100.7510.40.11520.1730.40660
117.900.20.381660.2371.005192
PAL-05Capuzaya
Including
47.905.00.13840.1510.28893
51.850.31.027570.4770.083828
PAL-06Capuzaya
Including
75.855.10.011510.0510.304151
78.150.60.014860.0660.322487
PAL-07Capuzaya
Including
51.8528.50.03600.0790.59162
58.601.00.033470.4550.079349
PAL-08Palmilla
Including
69.1513.40.35790.1680.279103
79.900.70.202271.8150.183241
PAL-09Capuzaya
including
82.1011.80.091390.1410.219145
85.150.30.191,0502.3600.2241,063
PAL-10Capuzaya
Including
68.409.90.04760.1430.31279
72.900.90.042330.1910.178236
PAL-11Capuzaya
Including
145.206.70.302060.2920.499227
147.200.31.178890.1550.108971
PAL-13La Luz
Including
Palmilla
including
78.8011.00.601180.1450.222160
84.400.72.135960.6210.159745
97.0515.10.201140.2160.331128
108.150.40.213830.1440.220398
PAL-14Capuzaya
Including
111.0012.40.19430.9551.45756
119.400.60.872226.2900.290283
PAL-15La Luz
Including
108.007.20.081000.1370.301106
113.900.40.145720.6820.438582
PAL-17Capuzaya
Including
77.905.50.08630.0960.29069
81.501.00.081260.0960.387132
PAL-18Capuzaya
Including
59.555.10.35720.2290.29196
59.550.40.702841.6050.328333
PAL-20Palmilla
Including
14.8012.80.58630.0180.109104
19.300.91.722610.0290.063381
PAL-21Capuzaya
including
101.3513.40.10910.3610.56598
125.050.30.144990.5440.948509
PAL-22La Luz
Including
Palmilla
Including
72.4012.90.07920.1520.25597
85.000.70.282480.2870.080268
96.056.80.11650.0840.15873
103.000.80.042070.4410.215210
PAL-24La Luz
Including
Palmilla
Including
115.705.20.05470.1420.42951
126.400.30.011190.0540.277120
177.305.00.11960.3130.255103
182.000.30.135820.2890.145591
PAL-25La Luz
Including
Palmilla
Including
40.5015.00.141170.2020.269127
65.502.40.126811.8950.084690
89.0515.90.75350.3660.73688
93.850.712.05800.1221.130924
PAL-26Capuzaya
Including
55.906.00.01610.0810.52862
55.901.00.021840.1410.328185
PAL-27La Luz
Including
Palmilla
Including
130.605.10.10790.1640.47685
138.600.20.074900.8480.353495
173.206.80.21640.8370.52079
174.250.70.042150.7660.151218
PAL-29La Luz
Including
Capuzaya
Including
55.105.40.011110.0820.367112
56.100.30.034370.0780.894439
144.005.70.014460.4020.678447
145.200.90.012,1700.5760.4372,171
PAL-32Palmilla
Including
Capuzaya
Including
77.3513.20.561210.1920.388160
99.750.30.111,1502,0500.9371,157
118.0011.80.12460.1740.34054
124.650.30.111330.7651.115141

Silver equivalents are calculated at a ratio of 70:1 silver: gold, excluding base metals and expected recoveries

Luis Castro, Vice President of Exploration for Endeavour Silver, commented, "Our discovery of potential bulk tonnage silver-gold-lead-zinc mineralization in the Palmilla mine area, that may be amenable to open pit mining, is an exciting new development for the Parral district in general and our property in particular."

"It gives us a second mineralized area with resource potential to complement the Veta Colorada area where we have already verified a portion of the historic high grade silver resource (see news release dated October 24, 2017).

"Drilling continues on the Parral property in a third mineralized area known as the San Patricio vein which lies to the north of Palmilla.A new resource estimate for the Parral property will be prepared at year-end for release in the 1st quarter of 2018."

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 is used 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 Silver - Endeavour Silver is a mid-tier precious metals mining company that owns three high grade, underground, silver-gold mines in Mexico. Since start?EUR'up in 2004, Endeavour has grown its mining operations organically to produce 9.7 million ounces of silver and equivalents in 2016. We find, build and operate quality silver mines in a sustainable way to create real value for all stakeholders. Endeavour Silver's shares trade on the TSX (EDR) and the NYSE (EXK).

Contact Information - For more information, please contact:
Galina Meleger, Director of Investor Relations
Toll free: (877) 685-9775
Fax: (604) 685-9744
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

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?EUR'looking statements and information herein include but are not limited to statements regarding Endeavour's anticipated performance in 2017 including changes in mining and operations and the timing and results of various activities. 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 but are not limited to changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, 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.

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