Endeavour Silver Corp (NYSE:EXK) reported that exploration drill plans on the El Compas asset in Zacatecas State and the Terronera asset in Jalisco State, Mexico have found premium, silver-gold mineralized zones in recently known epithermal quartz veins on individual assets.
These two drill plans are being planned as part of two underway economic trials, a preliminary economic assessment for El Compas and a PFS for Terronera, to assess the potential for progressing each of these two advancement assignments to production.
The highlights
At El Compas, two formerly explored veins, El Orito and El Compas, comprise small but premium, historic resources projected in January 2016 by the former holder. Endeavour has not yet done sufficient work to validate the historic resource, and is not depending on it. Drilling done in the Ana Camila vein has outlined a new premium, south dropping mineralized zone more than 250-metre-long by 100-metre-deep, starting almost 100 meter below surface and still at depth and exposed to surface.
Luis Castro, the VP of Exploration, said that this positive drill report confirms their opinion that both the Terronera AND El Compas assets hold remarkable exploration prospect for the advancement of new mineralized and new veins zones. The drill plans will break in December for Christmas and they project to obtain final 2016 assays before they begin drilling again in January.
In an attempt to comprise all notable drill report to year-end, management projects to close the updated resource predictions and new economic trials for Terronera and El Compas in March, at which time the firm will offer further guidance on its advancement plans for these two assignments. Notwithstanding, pre-development and exploration work will begin at each site in January to avoid any prospective timeline issues in the incomplete development schedules. Godfrey Walton, the COO and President of Endeavour, reviewed and permitted this press release and directed the drilling plans in Mexico.
