ER only has 42 million shares out, will produce over 3 million oz this year, up from one million last year and has had two big drill results in last few days--this one was from 1/24:
Endeavour Silver Corp (C-EDR) - News Release
Endeavour Silver drills 11.3 m of 317 g/t Ag in Mexico
2007-01-24 13:47 ET - News Release
Shares issued 42,373,987
EDR Close 2007-01-23 C$ 4.37
Mr. Bradford Cooke reports
ENDEAVOUR SILVER CORP.: DRILLING DEFINES MAJOR EXTENSIONS TO HIGH GRADE SILVER MINERALIZED ZONES AT GUANACEVI MINES PROJECT, DURANGO, MEXICO IN 2006
Endeavour Silver Corp.'s exploration drilling programs in 2006 at the Guanacevi mines project in Durango, Mexico, have successfully defined major extensions to the high-grade silver mineralized zones at the Porvenir and Santa Cruz mines.
At the Porvenir mine, drilling almost doubled the known length and depth of the high-grade silver-gold mineralization along the Santa Cruz vein to 1,300 metres in length and 500 m in depth, still partly open along strike and downdip.
Recent drilling highlights include 317 grams per tonne silver and 0.35 g/t gold over 11.30 m (9.8 ounces per ton Ag equivalent over 37.1 feet) in hole NP22-6 and 511 g/t silver and 0.73 g/t gold over 9.65 m (16.0 ounces per ton Ag equivalent over 31.7 feet) in hole NP23-5.
RECENT PORVENIR MINE DRILL RESULTS
From Length Silver Gold Ag equivalent Ag equivalent
Hole (m) (m) (g/t) (g/t) (ounces per ton) (feet)
NP18-A 98.95 2.30 371 0.78 12.0 7.5
NP19-A 94.00 1.85 554 1.07 17.7 6.1
NP22-6 374.05 11.30 317 0.35 9.8 37.1
NP23-5 289.10 9.65 511 0.73 16.0 31.7
incl. 290.60 0.60 1,589 1.23 48.1 2.0
incl. 295.35 0.70 1,686 5.97 57.9 2.3
NP23-6 394.20 2.55 538 1.73 18.2 8.4
and 411.55 1.90 378 1.46 13.1 6.2
True widths are estimated to be 65 per cent to 95 per cent of core lengths.
The Santa Cruz vein silver mineralization thickens appreciably on sections NP19 through NP23, moving toward the northwest and to depth, as can be seen by the recent drill results and the selected Porvenir mine drill highlights for 2006. This area is scheduled for mine development in 2007 so that it can be included in the production plan starting in 2008.
In 2006, the best Porvenir mineralized drill intercept was in hole NP21-4, which returned 324 g/t silver and 0.44 g/t gold over 45.20 m (10.1 ounces per ton Ag equivalent over 148.3 feet).
SELECTED PORVENIR MINE DRILL HIGHLIGHTS 2006
From Length Silver Gold Ag equivalent Ag equivalent
Hole (m) (m) (g/t) (g/t) (ounces per ton) (feet)
NP5-2 225.10 9.35 415 0.23 12.1 30.7
incl. 225.10 0.75 1,024 0.03 30.2 2.5
NP19-3 292.00 10.10 378 0.84 12.2 33.1
incl. 293.20 0.80 1,549 1.95 48.0 2.6
NP20-4 247.60 1.20 356 0.41 11.0 3.9
and 256.20 18.00 301 1.09 10.4 59.1
NP21-4 240.05 45.20 324 0.44 10.1 148.3
incl. 265.85 0.60 1,980 3.19 62.4 2.0
incl. 275.00 0.50 1,605 3.94 52.5 1.6
NP22-4 263.80 1.90 401 0.53 12.5 6.2
and 268.70 5.35 888 1.54 28.1 17.6
and 270.10 2.40 1,280 1.13 39.0 7.9
and 302.40 1.45 405 0.11 12.0 4.8
True widths are estimated to be 65 per cent to 95 per cent of core lengths.
Such continuous high-grade mineralization over broad vein widths should add substantially to the resource potential of the Porvenir mine. An updated NI 43-101 resource estimate is now under way for the Guanacevi mines project and should be completed in February, 2007.
At the Santa Cruz mine, drilling extended the high-grade silver-gold-zinc-lead mineralization below the lowest mine level, No. 13, to 300 m in length and 500 m in depth, still open to a certain extent along strike and downdip. The Santa Cruz silver mineralization differs from Porvenir ore in that it locally carries base metal values associated with minor disseminated sphalerite, galena and chalcopyrite, and it splays into several parallel vein zones, rather than one main structure.
Recent drill results include 340 g/t silver, 0.45 g/t gold, 2.48 per cent zinc and 1.46 per cent lead over 1.50 m, and 292 g/t silver and 0.43 g/t gold over 3.40 m, in hole DSC3-4.
RECENT SANTA CRUZ DRILL RESULTS
From Length Silver Gold Zinc Lead
Hole (m) (m) (g/t) (g/t) (%) (%)
DSC3-4 139.00 1.50 340 0.45 2.48 1.46
and 151.50 3.40 292 0.43
DSC3-6 168.50 2.75 248 0.42 2.14 0.82
and 237.00 1.20 394 0.41
and 245.20 1.40 302 0.39
DSC3-7 132.85 2.50 343 0.47
and 143.10 9.15 229 0.39 1.41 0.91
True widths are estimated to be 65 per cent to 95 per cent of core
lengths.
These multiple, parallel, high-grade, mineralized zones should add substantially to the resource potential of the Santa Cruz mine and will be included in the new resource estimate now under way.
The best Santa Cruz mineralized drill intercept in 2006 was in hole DSC2-16, which returned eight separate mineralized zones, including 673 g/t silver and 1.38 g/t gold over 21.50 m (21.6 ounces per ton Ag equivalent over 70.5 feet), and 4,402 g/t silver and 4.46 g/t gold over 1.10 m (134.8 ounces per ton Ag equivalent over 3.6 feet).
SELECTED SANTA CRUZ DRILL HIGHLIGHTS 2006
From Length Silver Gold Zinc Lead
Hole (m) (m) (g/t) (g/t) (%) (%)
DSC1-7 52.55 1.45 3506 12.86
and 141.30 2.20 708 2.09
DSC1-8 69.65 2.35 318 0.89
and 122.15 0.95 1089 7.06
and 132.85 2.95 1903 2.95
and 139.30 1.95 329 0.28
and 145.50 1.05 2101 2.92
and 164.15 0.60 1664 0.96
DSC2-13 48.90 2.20 654 1.46 4.76 2.18
and 95.89 4.10 260 0.54
and 112.0 2.75 1618 2.54
incl. 113.20 0.75 3884 4.87
DSC2-8 29.10 1.50 612 3.20
and 191.10 2.00 606 2.33
and 195.80 4.70 1097 4.66
DSC2-16 24.00 1.90 265 0.92
and 110.55 1.90 382 0.73
and 141.35 0.55 2087 1.03
and 165.30 0.70 293 1.10 2.84 4.79
and 211.45 0.80 276 0.55 2.34 1.09
and 223.10 1.00 291 0.21
and 234.60 1.60 265 0.31 7.53 6.03
and 242.20 21.50 673 1.38
incl. 242.20 4.30 765 2.90 5.72 3.03
incl. 251.60 3.95 1902 1.81
incl. 251.60 1.10 4402 4.46
incl. 259.40 0.75 1183 1.41
True widths are estimated to be 65 per cent to 95 per cent of core
lengths.
Endeavour's chairman and chief executive officer, Bradford Cooke, commented: "Endeavour enjoyed great success in our exploration drilling programs at the Guanacevi mines project last year. Although there are multiple mineralized drill holes from last year still awaiting assay, we expect to release fully up-to-date drill assays over the next three weeks."
We seek Safe Harbor. |
