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Endeavour Silver updates on Parral Properties in Mexico

Mining News - Published on Tue, 13 Feb 2018

Image Source: edrsilver.com
Endeavour Silver Corp reports updated NI 43-101 Mineral Reserve and Resource Estimates for its three operating mines and two development projects and an initial Mineral Resource Estimate for its new Parral Properties, all in Mexico.

2017 Mineral Reserve and Resource Estimate Highlights (Compared to December 31, 2016)

1. Silver Proven and Probable Mineral Reserves increased 217% to 33.5 million ounces (oz)

2. Gold Proven and Probable Mineral Reserves increased 246% to 315,300 oz

3. Silver equivalent Proven and Probable Mineral Reserves increased 228% to 57.1 million oz (75:1 silver:gold ratio)

4. Silver Measured and Indicated Mineral Resources decreased 46% to 36.7 million oz

5. Gold Measured and Indicated Mineral Resources decreased 35% to 362,900 oz

6. Silver equivalent Measured and Indicated Mineral Resources decreased 42% to 63.9 million oz

7. Silver Inferred Mineral Resources increased 44% to 53.1 million oz

8. Gold Inferred Mineral Resources decreased 12% to 300,800 oz

9. Silver equivalent Inferred Mineral Resources increased 22% to 75.7 million oz

Mr Bradford Cooke, CEO of Endeavour, stated that “We enjoyed solid development and exploration success in 2017, more than replacing our Mineral Reserves and growing our silver Mineral Resources. We also published a Pre-Feasibility Study for Terronera, a Preliminary Economic Assessment for El Compas, and an initial silver Mineral Resource Estimate for the new Parral Properties. The substantial growth of our Mineral Reserves and Mineral Resources is a testament to our exploration and acquisition teams. We now have a strong pipeline of exploration and development projects to drive our next phase of organic growth.

Mr Cooke said that “Looking forward to 2018, we plan to invest USD 11.1 million on exploration, the majority of which will target organic growth opportunities, including brownfields targets around our operating mines and development projects and greenfields targets such as Parral. This year, Parral will be our largest exploration expenditure, as we continue testing new silver vein targets and enhance our geological understanding of the historic Mineral Resource areas. At Terronera, we will test the southeast extension of mineralization in the high grade Terronera Vein and drill other vein targets. At El Compas, further testing of the Misie-Karla-Karla HW and Calicanto Veins and new zones will be key priorities.”

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Posted By : Amom Remju on Tue, 13 Feb 2018
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