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Endeavour Offers 2019 Mineral Reserve, Resource Estimates

Endeavour Silver Corp. (TSX:EDR, NYSE:EXK) reports updated Mineral Reserve and Resource Estimates for its three operating silver-gold mines in Mexico, Guanacevi in Durango state, Bolanitos in Guanajuato state and El

Benzinga · 01/29/2020 12:51

Endeavour Silver Corp. (TSX:EDR, NYSE:EXK) reports updated Mineral Reserve and Resource Estimates for its three operating silver-gold mines in Mexico, Guanacevi in Durango state, Bolanitos in Guanajuato state and El Compas in Zacatecas state and two key exploration and development projects, Terronera in Jalisco state and Parral in Chihuahua state. 

2019 Mineral Reserve and Resource Highlights (Compared to December 31, 2018) 

  • Silver Proven and Probable Mineral Reserves decreased 7% to 43.9 million ounces (oz)
  • Gold Proven and Probable Mineral Reserves remained unchanged at 477,000 oz
  • Silver equivalent Proven and Probable Mineral Reserves of 82.0 million oz (80:1 silver:gold ratio) 
  • Silver Measured and Indicated Mineral Resources increased 6% to 29.0 million oz
  • Gold Measured and Indicated Mineral Resources decreased 22% to 226,500 oz
  • Silver equivalent Measured and Indicated Mineral Resources of 47.1 million oz 
  • Silver Inferred Mineral Resources increased 4% to 60.7 million oz
  • Gold Inferred Mineral Resources decreased 11% to 287,000 oz
  • Silver equivalent Inferred Mineral Resources of 83.7 million oz 

Bradford Cooke, CEO of Endeavour, stated, “Our exploration programs were successful last year in outlining new brownfields discoveries at three of our mines and projects in Mexico.  We expanded the measured and indicated resources at Guanacevi and Parral and increased inferred resources at Guanacevi, Bolanitos and Parral.  Our reserves declined at Guanacevi but increased at Bolanitos and El Compas.”

“Resources increased significantly at Guanacevi due to our lease acquisition and successful exploration of the El Porvenir and El Curso properties, which adjoin two of our historic orebodies, Porvenir Norte and Porvenir Cuatro.  Bolanitos benefited from the delineation of the San Miguel discovery and Parral was our largest exploration expenditure in 2019 where we expanded the resources at the Sierra Plata and La Verde mines along the Veta Colorada vein system.”

“In 2020, we will again focus on replacing reserves at each mine as well as expanding resources at Parral and other greenfields projects.  At Terronera, we have turned our attention from resource expansion to mine development as it has the potential to become our largest and lowest cost mine.”