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Endeavour Silver Corp
Symbol EDR
Shares Issued 127,488,410
Close 2018-05-11 C$ 3.73
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Endeavour Silver drills 2.3m of 1,714g/t AgEq at Parral

2018-05-14 07:24 ET - News Release

Mr. Godfrey Walton reports

ENDEAVOUR SILVER DRILLING INTERSECTS HIGH GRADE SILVER-GOLD-LEAD-ZINC MINERALIZATION IN THE SAN PATRICIO VEIN SYSTEM ON THE PARRAL PROPERTY; PROVIDES POSITIVE RESULTS FOR METALLURGICAL TESTING AT PARRAL PROPERTIES

Endeavour Silver Corp.'s exploration drilling on the Parral property in Chihuahua state, Mexico, has intersected high-grade silver-gold-lead-zinc mineralization assaying up to 1,660 grams per tonne silver, 0.72 g/t gold, 6.52 per cent lead and 14.45 per cent zinc over 2.3-metre true width within the San Patricio vein system.

San Patricio drill results

Twenty-one drill holes totalling 8,846 m of core have been drilled to test the San Patricio vein below small historic mine workings over a 1,400 m strike length. Three mineralized areas were intersected, of which the largest and central zone now measures 600 m long by 250 m vertical (starting 150 m deep) by one to three m true thickness, still open to the south and at depth.

Drill hole SPT-20, at the bottom south end of the central mineralized zone, is the best hole drilled to date, intersecting three parallel veins, all of which carry strong polymetallic mineralization. Drilling highlights include the aforementioned 1,660 g/t silver, 0.72 g/t gold, 6.52 per cent lead and 14.45 per cent zinc over 2.3 m true width (50.0 ounces per ton AgEq (silver and gold only, excluding base metals) over 7.5 feet).

Luis Castro, vice-president, exploration, for Endeavour Silver, commented: "We are very encouraged to discover these new zones of high-grade polymetallic mineralization within the San Patricio vein system. Hole 20 suggests the vein system blossoms into three parallel veins of higher grades moving to the south and at depth where the central mineralized zone is wide open for expansion.

"Last year on the Parral property, we conducted verification drilling within the Remedios-Argentina zone, one of three historic resource areas in the Veta Colorada vein system, as well as stepout drilling to discover new high-grade resources within the Palmilla vein system. That allowed us to release a maiden resource for the Parral property in February this year (see Endeavour news release dated Feb. 7, 2018).

"We continue to drill the San Patricio vein system where another 10 holes totalling 5,000 mare planned. Another 3,500 m will be drilled to test the Orion vein located 850 m west of San Patricio and the south extension of Veta Colorada in the San Joaquin area. At Veta Colorada, underground drilling in the Sierra Plata and El Verde areas will test the extent of mineralization to depth."

Results for the first 11 material drill holes at San Patricio are summarized in the table.

                                    PARRAL DRILL RESULTS

Hole               From   True width         Au         Ag       AgEq         Pb         Zn
                     (m)          (m)      (g/t)      (g/t)      (g/t)        (%)        (%)

SPT-01           384.90          2.5       0.12        256        265      3.023      0.826
Including        384.90          0.7       0.12        368        377      6.550      0.783
SPT-02           339.40          2.1       0.05        303        307      0.438      0.462
Including        339.40          1.5       0.06        331        336      0.400      0.517
SPT-03           329.05          1.3       0.12        127        136      0.769      1.900
Including        329.05          0.5       0.10        187        194      0.761      2.590
SPT-05           393.90          1.1       0.43        136        169      2.946      8.731
Including        395.25          0.4       0.75        265        321      6.320     12.500
SPT-07           297.20          1.0       0.22        678        695      3.538      0.935
Including        297.45          0.3       0.22      1,655      1,671      9.140      0.426
SPT-09           425.65          1.0       0.08        329        335      0.258      0.447
Including        424.65          0.4       0.04        627        630      0.172      0.388
SPT-10           336.60          1.6       0.02        149        151      0.636      0.536
Including        336.85          0.5       0.04        246        249      1.055      1.000
SPT-15           211.15          3.1       1.08         91        172      1.255      7.282
including        217.65          0.2       1.01        130        205      1.375      8.560
SPT-18           445.50          2.0       0.57        151        194      2.719      2.619
Including        446.00          0.4       0.44        295        328      6.470      3.460
SPT-19           304.25          3.0       0.24        689        707      1.619      1.072
Including        307.25          0.3       0.12      2,550      2,559      2.710      0.855
SPT-20           432.20          1.6       0.27        293        313      3.552      7.591
Including        433.25          0.4       0.26        564        584      8.020     16.750
                 438.30          3.2       0.10        165        173      0.310      0.626
Including        442.65          0.2       0.45        593        627      1.320      2.040
                 449.60          2.3       0.72      1,660      1,714      6.519     14.451
Including        451.55          0.3       0.28      6,910      6,931      9.310     15.150

Silver equivalents are calculated at a ratio of 75:1 silver:gold, excluding base metals.
 

Veta Colorada-Palmilla metallurgical results

Endeavour also announces that metallurgical testing of drill core samples from the Veta Colorada (Sierra Plata, El Verde and Remedios-Argentina zones), Palmilla and Cometa veins on the Parral property indicates excellent metal recoveries by flotation and leaching. Cometa is the only vein with significant lead and zinc best suited for flotation, the other veins contain primarily silver and minor gold best suited to leaching.

Silver recoveries achieved up to 91-per-cent recovery by whole rock leaching of Remedios-Argentina core, up to 91-per-cent recovery by flotation of Cometa core, and up to 98-per-cent recovery by flotation and leaching of the float tails of El Verde core.

                         PARRAL METALLURGICAL TEST RESULTS: SILVER

                                                                Ag recovery

                                  Oxidation       Head      CN on           CN on     Total
Zone                      ID          state  grade g/t  whole ore Flotation  tail  (flot+CN)

Sierra Plata        PAR18-01          Oxide        304        40%       32%   22%       47%
El Verde            PAR18-02          Mixed        325        87%       83%   88%       98%
Remedios-Argentina  PAR18-03          Mixed        340        91%       71%   83%       95%
Palmilla            PAR18-04          Oxide        231        88%       68%   83%       94%
Cometa-San Juanico  PAR18-05 Mixed/sulphide         61        47%       91%     -         -

                          PARRAL METALLURGICAL TEST RESULTS: GOLD

                                                                 Ag recovery

                                  Oxidation       Head      CN on           CN on     Total
Zone                      ID          state  grade g/t  whole ore Flotation  tail  (flot+CN)

Sierra Plata        PAR18-01          Oxide      <0.01          -         -     -         -
El Verde            PAR18-02          Mixed       0.07          -         -     -         -
Remedios-Argentina  PAR18-03          Mixed       0.06          -         -     -         -
Palmilla            PAR18-04          Oxide       0.21        92%       53%   86%       93%
Cometa-San Juanico  PAR18-05 Mixed/sulphide       0.42        64%       86%     -         -
        

Only the Sierra Plata oxide zone core returned subpar silver recoveries and additional mineralogical studies are needed to understand why the recoveries are less than 50 per cent. Testing for gold returned 93-per-cent recovery by flotation and leaching of float tails on Palmilla core and 86 per cent by flotation of Cometa core. The optimal grind size for all ore types is 80 per cent passing 76 microns, and recoveries decline at finer grinds. In summary, metallurgical testing confirms that all mineralized zones except Sierra Plata return excellent metal recoveries by either leaching, or flotation or flotation followed by leaching of the float tails.

Godfrey Walton, MSc, PGeo, Endeavour's president and chief operating officer, 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 is determined by fire assay with an atomic absorption (AA) finish and silver by aqua regia digestion and ICP finish, overlimits by fire assay, and gravimetric finish.

About Endeavour Silver Corp.

Endeavour Silver is a mid-tier precious metals mining company that operates three high-grade, underground, silver-gold mines in Mexico. The company is forecasting 20-per-cent production growth to 10.2 million to 11.2 million oz silver equivalent in 2018. Endeavour is currently developing its fourth high-grade, underground, silver-gold mine in Mexico and has a compelling pipeline of exploration and development projects to facilitate its goal to become a premier senior silver producer.

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