Endeavour Silver Reports Positive Drill Results for the Parral Project
Endeavour Silver Reports Positive Drill Results for the Parral Project
(All amounts are in US dollars, unless otherwise stated)
VANCOUVER, British Columbia, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (TSX: EDR, NYSE:
EXK) is pleased to report positive drill results from its ongoing exploration program at the 3,432-hectare Parral project situated
in the State of Chihuahua, Mexico.
During the last 11 months, until the end of November, the Company has drilled over 14,000 metres in 59 holes targeting
several areas along the La Colorada vein.
Highlights from Recent Drill Results
• 2,846 gpt Ag, 0.65% Cu over a 0.89 m ETW, including 3,380 gpt Ag, 0.77% Cu over 0.75 m (VCS-10)
• 840 gpt Ag, 0.11 gpt Au, 0.25% Cu, 9.09% Pb and 4.74% Zn for 1,288 gpt AgEq over a 2.77 m ETW, including
1,585 gpt Ag, 0.26 gpt Au, 0.55% Cu, 34.88% Pb and 4.38% Zn for 2,755 gpt AgEq over 0.36 m (VCU-38)
• 708 gpt Ag, 0.55 gpt Au, 0.16% Cu, 10.95% Pb and 12.38% Zn for 1,504 gpt AgEq over a 1.23 m ETW, including
1,130 gpt Ag, 0.91 gpt Au, 18.95% Pb and 18.70% Zn for 2,406 gpt AgEq over 0.69 m (VCU-50)
Abbreviations include: gpt: grams per tonne; Au: gold; Ag: silver; Cu: copper; Pb: lead; Zn: zinc; ETW: estimated true width;
m: metre; HW: hanging wall. Silver equivalents are calculated at a ratio of 80:1 silver:gold, silver price of $23 per troy ounce,
copper price of $3.45 per pound, lead price of $0.90 per pound and zinc price of $1.20 per pound.
“The Parral project continues to deliver great results,” commented Dan Dickson, Chief Executive Officer. “Following limited
drilling in 2020 due to the pandemic, it was a priority for our exploration team to re-start the exploration program at Parral this
year to expand on the mineral resource estimate we published on the project in early 2020. Our goal is to continue the drill
program at Parral in 2022 as we get closer to achieving the scale required to support a positive economic assessment.”
The Parral project, which was acquired by Endeavour Silver in 2016, is in Hidalgo de Parral, a large historic silver mining
district adjacent to the city of Parral, in the State of Chihuahua, Mexico. The project district comprises classic, high-grade
silver, epithermal vein deposits, characterized by low-sulphidation mineralization. The property is accessible by paved and
gravel roads and has access to the local power grid.
The Veta Colorada (including the Sierra Plata and El Verde mines) was a past producing mining operation owned by Grupo
Mexico that closed in 1991 due to low silver prices. Mineralization, which occurs in a major silver vein structure that ranges
from 1 to 30 metres thick, was mined seven levels down to 300-metre depths below surface in places and was traced for seven
kilometres.
The Company filed a NI 43-101 technical report on the Parral project, State of Chihuahua, Mexico on March 14, 2020. As of
December 31, 2019, Parral had estimated indicated mineral resources of 613,000 tonnes, containing 4.0 million ounces of
silver grading 207 g/t, 6,800 ounces of gold grading 0.35 g/t, 17.5 million pounds of lead grading 0.63%, and 16.5 million
pounds of zinc grading 0.61%. Inferred mineral resources are estimated to total 4.04 million tonnes containing 35.0 million
ounces of silver grading 269 g/t, 62,800 ounces of gold grading 0.48 g/t, 65.0 million pounds of lead grading 0.35%, and 64.3
million pounds of zinc grading 0.35%.
Due to the COVID-19 pandemic, the Company suspended the Parral drill programs in early 2020 and resumed drilling in 2021.
The Parral drill results are summarized in the following tables:
Parral - Veta Colorada Sierra Plata Shallow
Hole Structure From True Width Au Ag Cu Pb Zn AgEq
(m) (m) (gpt) (gpt) (%) (%) (%) (gpt)
VCS-07 Veta Colorada 264.25 2.19 0.01 232 0.01 0.08 0.15 241
Including 265.80 0.72 <0.005 288 0.02 0.08 0.08 296
VCS-10 Veta Colorada 219.35 0.89 0.01 2,846 0.65 0.00 0.01 2,914
Including 219.50 0.75 0.01 3,380 0.77 0.00 0.01 3,461
VCS-12 Veta Colorada 196.75 1.20 0.01 340 0.04 0.32 0.60 374
Including 196.75 0.86 0.01 384 0.04 0.36 0.65 422
Note: Drill holes VCS-8, VCS-9, VCS-11, VCS 13, VCS-29, VCS-30, VCS-31 and VCS-32 returned no significant results
Parral - Veta Colorada San Joaquin (view Veta Colorada (San Joaquin) longitudinal sections)
Hole Structure From True Width Au Ag Cu Pb Zn AgEq
(m) (m) (gpt) (gpt) (%) (%) (%) (gpt)
VCS-18 Veta Colorada 164.10 1.89 2.27 92 0.02 3.35 1.90 434
Including 164.10 0.70 5.79 193 0.01 0.05 0.14 663
VCS-19 Veta Colorada 173.65 1.30 1.05 470 0.18 4.51 9.95 1,050
Including 174.20 0.81 1.51 744 0.24 5.72 9.15 1,370
VCS-20 Veta Colorada 230.85 2.76 0.98 59 0.14 2.72 2.75 322
Including 231.85 0.62 3.83 91 0.27 6.90 1.81 675
VCS-21 Veta Colorada 186.00 1.47 0.28 28 0.22 2.87 1.71 211
Including 187.40 0.33 0.75 91 0.84 10.35 3.06 624
VCS-24 Veta Colorada 254.20 3.95 1.38 41 0.19 2.20 2.83 332
Including 257.25 0.68 1.69 116 0.22 7.05 4.82 635
VCS-25 Veta Colorada 262.85 1.60 0.22 50 0.14 3.02 6.53 396
Including 263.45 0.31 0.27 105 0.23 6.34 17.30 939
VCS-26 Veta Colorada 313.15 1.11 0.14 15 0.02 2.07 2.19 163
Including 313.65 0.37 0.22 38 0.05 5.63 5.22 399
VCS-27 Veta Colorada 325.65 1.40 1.43 54 0.20 1.78 4.87 411
Including 326.20 0.59 2.12 43 0.20 1.86 5.69 486
VCS-28 Veta Colorada 244.50 4.24 0.27 29 0.09 3.08 3.47 266
Including 244.50 0.39 0.18 97 0.24 7.12 5.42 521
Note: Drill holes VCS-15, VCS-16, VCS-17, VCS-22 and VCS-23 returned no significant results
Parral - Veta Colorada Sierra Plata Deep (view Veta Colorada (Sierra Plata) longitudinal sections)
Hole Structure From True Width Au Ag Cu Pb Zn AgEq
(m) (m) (gpt) (gpt) (%) (%) (%) (gpt)
VCU-21 Veta Colorada 66.50 1.41 0.03 198 0.03 0.60 0.76 247
Including 67.20 0.73 0.04 288 0.05 0.89 1.39 370
VCU-22 Veta Colorada 88.50 0.93 0.01 247 0.05 0.53 0.97 302
Including 88.95 0.46 0.02 436 0.09 0.82 1.66 528
VCU-24 Veta Colorada 85.15 2.00 0.01 263 0.02 0.56 0.25 290
Including 85.55 0.39 0.01 340 0.02 0.15 0.22 355
VCU-25 Veta Colorada 103.80 1.13 0.02 176 0.02 0.22 0.24 193
Including 105.00 0.38 0.03 220 0.02 0.19 0.35 241
VCU-26 Veta Colorada 107.30 0.93 0.02 169 0.01 0.18 0.10 180
VCU-27 Hw Veta Colorada 146.15 1.12 0.01 164 0.00 0.06 0.20 173
Including 146.15 0.33 <0.005 189 0.00 0.05 0.15 196
VCU-28 Veta Colorada 95.60 0.88 0.01 196 0.01 0.22 0.24 213
Including 96.10 0.22 0.02 257 0.01 0.35 0.30 280
VCU-30 Veta Colorada 172.00 1.81 0.06 263 0.03 0.61 2.02 360
Including 176.10 0.26 0.32 425 0.12 0.24 10.20 834
VCU-31 Veta Colorada 160.50 1.13 0.06 224 0.02 0.27 0.27 248
Including 161.45 0.30 0.05 365 0.04 0.27 0.46 397
VCU-32 Veta Colorada 156.20 1.08 0.02 247 0.03 0.19 0.32 269
Including 156.80 0.52 0.02 294 0.04 0.22 0.27 315
VCU-33 Veta Colorada 206.30 0.73 0.03 166 0.02 0.39 0.16 186
VCU-35 Veta Colorada 196.00 1.47 0.03 266 0.15 1.65 2.82 429
Including 196.70 0.44 0.03 381 0.22 1.08 2.63 529
VCU-47 Veta Colorada 111.80 1.76 0.02 158 0.03 1.33 0.70 224
Including 111.80 0.56 0.02 284 0.08 3.86 1.84 464
VCU-48 Veta Colorada 161.35 5.77 0.04 417 0.04 1.41 0.46 478
Including 163.65 0.27 0.13 4,170 0.32 16.55 1.24 4,702
VCU-49 Veta Colorada 178.65 2.48 0.13 761 0.15 0.17 5.37 984
Including 179.75 0.25 0.10 1,115 0.29 0.00 6.94 1,401
VCU-50 Veta Colorada 100.30 1.23 0.55 708 0.16 10.95 12.38 1,504
Including 100.30 0.69 0.91 1,130 0.25 18.95 18.70 2,406
VCU-53 Veta Colorada 85.20 1.17 0.01 178 0.01 0.24 0.11 190
Including 85.20 0.54 0.01 223 0.01 0.31 0.12 237
VCU-55
Hw Veta Colorada 83.45 1.2 0.02 164 0.06 0.47 1.04 221
Including 83.45 0.3 0.01 290 0.13 0.80 0.68 350
Veta Colorada 96.50 1.2 0.03 84 0.02 0.66 1.25 151
Including 97.00 0.3 0.04 146 0.03 1.29 2.48 275
VCU-57 Veta Colorada 170.90 1.0 0.02 139 0.03 1.52 1.46 237
Including 172.50 0.3 0.03 212 0.04 1.76 3.30 384
Note: Drill holes VCU-23, VCU-29, VCU-34, VCU-44, VCU-45, VCU-46, VCU-51, VCU-52, VCU-54 and VCU-56 returned no
significant results
Parral - Veta Colorada El Verde (view Veta Colorada (El Verde) longitudinal sections)
Hole Structure From True Width Au Ag Cu Pb Zn AgEq
(m) (m) (gpt) (gpt) (%) (%) (%) (gpt)
VCU-36
Hw Veta Colorada 100.75 2.30 0.09 182 0.08 3.17 2.84 384
Including 102.55 0.56 0.13 224 0.09 4.04 2.15 428
Veta Colorada 106.90 3.64 1.52 253 0.11 3.87 2.39 575
Including 111.45 0.26 0.88 953 0.38 1.96 1.64 1,173
VCU-37
Hw Veta Colorada 128.70 3.31 0.20 198 0.06 2.54 2.57 381
Including 131.35 0.42 0.52 319 0.07 10.35 8.52 950
Veta Colorada 135.65 1.61 0.20 201 0.02 0.99 2.58 339
Including 136.75 0.42 0.31 346 0.05 1.47 6.69 654
VCU-38
Hw Veta Colorada 238.15 1.75 0.05 204 0.07 0.78 1.17 278
Including 240.00 0.33 0.08 541 0.20 0.81 2.16 667
Veta Colorada 245.25 2.77 0.11 840 0.25 9.09 4.74 1,288
Including 247.00 0.36 0.26 1,585 0.55 34.88 4.38 2,755
VCU-40 Veta Colorada 236.55 3.70 0.25 321 0.14 4.93 4.46 648
Including 238.80 0.46 0.20 1,030 0.44 7.03 7.43 1,546
VCU-41 Veta Colorada 198.60 6.38 0.08 325 0.28 0.78 2.42 467
Including 205.50 0.44 0.13 702 0.40 0.66 2.98 878
VCU-43
Hw Veta Colorada 163.65 1.60 0.16 240 0.05 0.26 0.48 281
Including 163.65 0.52 0.02 380 0.02 0.09 0.15 391
Veta Colorada 166.50 2.36 0.05 251 0.03 0.28 0.48 284
Including 168.50 0.54 0.07 606 0.03 0.45 0.43 643
Notes:
1. Drill holes VCU-39 and VCU-42 returned no significant results
2. Silver equivalents are calculated using the formula:
[Au (gpt) X 80] + Ag (gpt) + [Cu (%) X 2204.6 X Cu Price / Ag Price X 31.1] + [Pb (%) X 2204.6 X Pb Price / Ag Price X 31.1] +
[Zn (%) X 2204.6 X Zn Price / Ag Price X 31.1]
3. Price assumptions used are: Cu $3.45, Pb $0.90, Zn $1.20 and Ag $23.00
4. All widths are estimated true widths
5. No capping has been applied but high-grade intervals have been highlighted
Qualified Person and QA/QC - Dale Mah, P.Geo., Vice President Corporate Development of Endeavour Silver, is the
Qualified Person who reviewed and approved the technical information contained in this news release. A quality control
sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay
results. All samples are split at the local field office and shipped to SGS Labs, where they are dried, crushed, split and 250
gram pulp samples are prepared for analysis. Gold is determined by fire assay with an atomic absorption finish and silver by
aqua regia digestion with ICP finish, over-limits by fire assay and gravimetric finish.
About Endeavour Silver – Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade,
underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development
decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico,
Chile and the United States to facilitate its goal to become a premier senior silver producer. The Company’s philosophy of
corporate social integrity creates value for all stakeholders.
SOURCE Endeavour Silver Corp.
Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: [email protected]
Website: www.edrsilver.com
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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 future prospects of the
Company’s mines and projects. 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, production levels, performance or achievements to be materially different from those
expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19
pandemic on operations and results, changes in production and costs guidance, 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 and risks in
obtaining necessary licenses and permits,
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to:
the continued exploration and 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.