Endeavour Silver Drilling Discovers Potential Bulk Tonnage Silver Mineralization in the Palmilla Mine Area, Parral Project, Chihuahua, Mexico
Endeavour Silver Drilling Discovers Potential Bulk Tonnage Silver
Mineralization in the Palmilla Mine Area, Parral Project, Chihuahua, Mexico
VANCOUVER, British Columbia, Nov. 15, 2017 -- 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.
Hole Structure From True width Au Ag Pb Zn AgEq
(m) (m) (gpt) (gpt) (%) (%) (gpt)
PAL-01 Capuzaya
Including
102.00 13.08 0.14 49 0.254 0.651 59
109.00 0.4 0.06 139 1.010 0.235 143
PAL-02 Palmilla
Including
119.70 11.1 0.36 154 0.071 0.227 180
145.45 0.5 0.15 1,115 0.045 0.227 1,126
PAL-04 Capuzaya
Including
100.75 10.4 0.11 52 0.173 0.406 60
117.90 0.2 0.38 166 0.237 1.005 192
PAL-05 Capuzaya
Including
47.90 5.0 0.13 84 0.151 0.288 93
51.85 0.3 1.02 757 0.477 0.083 828
PAL-06 Capuzaya
Including
75.85 5.1 0.01 151 0.051 0.304 151
78.15 0.6 0.01 486 0.066 0.322 487
PAL-07 Capuzaya
Including
51.85 28.5 0.03 60 0.079 0.591 62
58.60 1.0 0.03 347 0.455 0.079 349
PAL-08 Palmilla
Including
69.15 13.4 0.35 79 0.168 0.279 103
79.90 0.7 0.20 227 1.815 0.183 241
PAL-09 Capuzaya
including
82.10 11.8 0.09 139 0.141 0.219 145
85.15 0.3 0.19 1,050 2.360 0.224 1,063
PAL-10 Capuzaya
Including
68.40 9.9 0.04 76 0.143 0.312 79
72.90 0.9 0.04 233 0.191 0.178 236
PAL-11 Capuzaya
Including
145.20 6.7 0.30 206 0.292 0.499 227
147.20 0.3 1.17 889 0.155 0.108 971
PAL-13
La Luz
Including
Palmilla
including
78.80 11.0 0.60 118 0.145 0.222 160
84.40 0.7 2.13 596 0.621 0.159 745
97.05 15.1 0.20 114 0.216 0.331 128
108.15 0.4 0.21 383 0.144 0.220 398
PAL-14 Capuzaya
Including
111.00 12.4 0.19 43 0.955 1.457 56
119.40 0.6 0.87 222 6.290 0.290 283
PAL-15 La Luz
Including
108.00 7.2 0.08 100 0.137 0.301 106
113.90 0.4 0.14 572 0.682 0.438 582
PAL-17 Capuzaya
Including
77.90 5.5 0.08 63 0.096 0.290 69
81.50 1.0 0.08 126 0.096 0.387 132
PAL-18 Capuzaya
Including
59.55 5.1 0.35 72 0.229 0.291 96
59.55 0.4 0.70 284 1.605 0.328 333
PAL-20 Palmilla
Including
14.80 12.8 0.58 63 0.018 0.109 104
19.30 0.9 1.72 261 0.029 0.063 381
PAL-21 Capuzaya
including
101.35 13.4 0.10 91 0.361 0.565 98
125.05 0.3 0.14 499 0.544 0.948 509
PAL-22
La Luz
Including
Palmilla
Including
72.40 12.9 0.07 92 0.152 0.255 97
85.00 0.7 0.28 248 0.287 0.080 268
96.05 6.8 0.11 65 0.084 0.158 73
103.00 0.8 0.04 207 0.441 0.215 210
PAL-24
La Luz
Including
Palmilla
Including
115.70 5.2 0.05 47 0.142 0.429 51
126.40 0.3 0.01 119 0.054 0.277 120
177.30 5.0 0.11 96 0.313 0.255 103
182.00 0.3 0.13 582 0.289 0.145 591
PAL-25
La Luz
Including
Palmilla
Including
40.50 15.0 0.14 117 0.202 0.269 127
65.50 2.4 0.12 681 1.895 0.084 690
89.05 15.9 0.75 35 0.366 0.736 88
93.85 0.7 12.05 80 0.122 1.130 924
PAL-26 Capuzaya
Including
55.90 6.0 0.01 61 0.081 0.528 62
55.90 1.0 0.02 184 0.141 0.328 185
PAL-27
La Luz
Including
Palmilla
Including
130.60 5.1 0.10 79 0.164 0.476 85
138.60 0.2 0.07 490 0.848 0.353 495
173.20 6.8 0.21 64 0.837 0.520 79
174.25 0.7 0.04 215 0.766 0.151 218
PAL-29
La Luz
Including
Capuzaya
Including
55.10 5.4 0.01 111 0.082 0.367 112
56.10 0.3 0.03 437 0.078 0.894 439
144.00 5.7 0.01 446 0.402 0.678 447
145.20 0.9 0.01 2,170 0.576 0.437 2,171
PAL-32
Palmilla
Including
Capuzaya
Including
77.35 13.2 0.56 121 0.192 0.388 160
99.75 0.3 0.11 1,150 2,050 0.937 1,157
118.00 11.8 0.12 46 0.174 0.340 54
124.65 0.3 0.11 133 0.765 1.115 141
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 -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: [email protected]
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-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.