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Endeavour Silver Reports Positive Drill Results for the Parral Project

·12 min read

(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: pmoran@edrsilver.com
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.