|By Marketwired .||
|February 4, 2014 07:30 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/04/14 -- Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK) released today a review of the Company's exploration results in 2013 and its exploration plans for 2014.
The Company's exploration drilling programs in Mexico enjoyed continued success in 2013, highlighted by the discovery of two areas of high-grade, silver-gold vein mineralization at the Bolanitos and El Cubo mines respectively in Guanajuato State, and the extension of a thick, high-grade, silver-gold vein discovery within the Terronera vein on the San Sebastian property in Jalisco State.
This year, Endeavour's focus will be on brownfields exploration around the three operating mines to replace reserves, expand resources and increase mine lives in the light of the current low precious metal prices. The Company will also continue exploring the Terronera discovery at the San Sebastian property. Other green-fields exploration programs have been deferred until metal prices improve.
Luis Castro, Endeavour's Vice President of Exploration, commented, "Last year, our talented exploration team once again delivered several exciting new silver-gold vein discoveries, notwithstanding a significant budget cut due to falling metal prices. We spent US$13.2 million on exploration excluding capitalized property costs and drilled 61,987 metres (m) or 203,369 feet (ft) in 178 drill holes testing 13 exploration targets near our three operating mines plus four other exploration properties in 2013.
"This year, we plan to spend US$10.7 million on exploration, including 54,000 m of drilling in about 120 holes to test multiple brownfields exploration targets in addition to the underground mine exploration infill drilling programs and excluding capitalized property costs. In December, 2013, we completed environmental studies and filed an application to permit the development of a new mine on the San Sebastian property. In 2014 we plan to conduct further exploration, engineering and economic studies of this prospective new find."
In 2013, Endeavour drilled 15,337 m in 51 holes at Bolanitos to discover high-grade, gold-silver vein mineralization in the historic La Luz, LL-Asuncion and Plateros veins. Recent drilling highlights include 75 grams per tonne (gpt) silver and 4.08 gpt gold over 5.54 m true width (9.3 ounces per ton (opT) silver equivalent over 18.2 ft based on a silver: gold ratio of 60:1) within the La Luz vein in hole LZ17-2.
Each of the three new mineralized zones is about 200 m long by 100 m deep. The La Luz and Asuncion mineralized zones appear to lie along strike from each other about 900 m apart, suggesting that significant exploration potential remains to be tested in between them. Both mineralized zones are readily accessible for mining from nearby historic workings and underground development is now underway to provide access to these two areas via the operating Asuncion shaft.
In 2014, exploration will focus on drilling five high priority brownfields targets northwest and southeast of the mine at La Luz Norte, LL-Asuncion, Deep Daniela, La Joya Sur and Siglo XX.
El Cubo Mine
Endeavour drilled 18,450 m in 47 holes last year at El Cubo to discover new high-grade, gold-silver vein mineralization in the historic Villalpando, V-Asuncion and Dolores veins. Recent drilling highlights include 294 gpt silver and 7.08 gpt gold over 4.38 m true width (21.0 opT silver equivalent over 14.4 ft based on a silver: gold ratio of 60:1) within the Villalpando vein in hole CAS-29.
Drilling at Dolores helped to extend and define the hanging-wall and footwall vein ore-bodies that are currently in production. Drilling in the Villalpando and V-Asuncion veins, discovered in late 2012 and fast-tracked to production last year, successfully extended this newly discovered mineralized zone over 900 m in strike length, still open for expansion. Additional drilling highlights are shown in the table below:
--------------------------------------------- True Hole From Width Au Ag (m) (m) (gpt) (gpt) --------------------------------------------- CAS-22 232.90 1.91 1.75 142.9 ------------------------------------ 233.95 0.57 3.36 225.0 --------------------------------------------- CAS-26 396.00 4.51 5.61 396.2 ------------------------------------ 400.30 0.33 12.40 759.0 --------------------------------------------- CAS-28 432.75 2.27 1.19 130.6 ------------------------------------ 435.10 0.55 1.15 350.0 --------------------------------------------- CAS-29 478.30 4.38 7.08 294.4 ------------------------------------ 482.20 0.33 51.70 2290.0 --------------------------------------------- CAS-30 477.25 2.12 2.25 208.2 ------------------------------------ 477.25 0.30 4.03 348.0 --------------------------------------------- CAS-31 505.80 3.98 1.84 192.0 ------------------------------------ 511.65 0.26 3.11 864.0 --------------------------------------------- CAS-32 503.25 1.56 3.31 370.5 ------------------------------------ 503.80 0.49 6.56 730.0 ---------------------------------------------
In 2014, exploration will focus on drilling five high priority brownfields targets west and southeast of the mine at V-Asuncion, Villalpando Sur, San Nicolas, Cabrestantes and El Nayal.
In 2013, Endeavour drilled 9,910 m in 19 holes at Guanacevi to more fully delineate the previously discovered high-grade silver-gold mineralization over a 300 m by 300 m area in the Milache area along the Santa Cruz vein to the northwest of the Company's Porvenir Cuatro mine. Management is currently evaluating alternatives for underground development at Milache to commence in 2014 so that production can commence in 2015.
In 2014, exploration will focus on drilling one high priority target southeast of the mines at Santa Cruz Sur.
San Sebastian Property
Endeavour drilled 8,574 m in 30 holes at San Sebastian to infill and extend the recently discovered, thick, high-grade silver-gold mineralization in the Terronera vein over a 900 m long by 300 m deep portion of the three kilometre long Terronera vein, which is still open for expansion. Recent drilling highlights include 229 gpt silver and 0.88 gpt gold over 5.88 m true width (8.2 opT silver equivalent over 19.3 ft based on a silver: gold ratio of 60:1) in hole TR01-2.
In February 2013, Endeavour released an initial mineral resource estimate for San Sebastian that included an indicated resource totaling 1,835,000 tonnes grading 193 gpt silver and 1.17 gpt gold containing 11.4 million oz silver and 69,300 oz gold, and an inferred resource totaling 3,095,000 tonnes grading 196 gpt silver and 1.39 gpt gold containing 19.5 million oz silver and 138,100 oz gold.
In 2014, exploration will focus on drilling two high priority target areas to extend the high-grade silver-gold mineralization along strike to the northwest and southeast of the current resource area in the Terronera vein.
Other Exploration Properties
Endeavour drilled two other exploration areas in 2013 at the Panuco-Laberinto properties in Durango State, Mexico and the El Inca-San Julian properties in northern Chile. Both drill programs intersected geologically interesting but subeconomic mineralization, and the Company is currently assessing the remaining exploration potential of both these areas.
Godfrey Walton, M.Sc., P.Geo., Endeavour's President and COO, is the Qualified Person who reviewed this news release and supervised the exploration, drilling and sampling programs. A Quality Control sampling program of reference standards, blanks and duplicates was used to monitor the integrity of all assay results. All drill samples were split at the respective field offices and shipped to ALS-Chemex Labs, where they were dried, crushed, split and 250 gram pulp samples are prepared for analysis. Gold and silver were determined by fire assay with an atomic absorption (AA) finish and lead, zinc and copper were determined by AA.
Release of 2013 Financial Results
Endeavour Silver plans to release its 2013 fourth quarter and year-end financial results on Monday, March 10, 2014, after the close of markets.
A conference call to discuss the results will be held Tuesday, March 11 at 8:00am PST (11:00am EST). To participate in the conference call, please dial the following:
Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: 1-604-638-5340
No pass-code is necessary to participate in the conference call.
A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or 1-604-638-9010 outside of Canada and the US. The required pass-code is 4890 followed by the # sign. The replay will also be available on the Company's website at www.edrsilver.com.
All shareholders can receive a hard copy of the Company's complete audited financial statements free of charge upon request. To receive this material in hard copy, please contact Meghan Brown, Director Investor Relations at 604-640-4804 or toll free 1-877-685-9775.
About Endeavour Silver - Endeavour is a mid-tier silver mining company focused on growing its profits, production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted nine consecutive years of accretive growth of its silver mining operations. The organic expansion programs now underway at Endeavour's three silver-gold mines in Mexico combined with its strategic acquisition and exploration programs should facilitate Endeavour's goal to become a premier senior silver producer.
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 2014 and the timing and results of exploration drill programs. 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, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; 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.
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 27, 2017 02:45 PM EDT Reads: 1,930
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
Mar. 27, 2017 02:30 PM EDT Reads: 4,285
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 27, 2017 02:30 PM EDT Reads: 3,654
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Mar. 27, 2017 02:30 PM EDT Reads: 3,998
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 27, 2017 02:00 PM EDT Reads: 2,018
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 27, 2017 01:30 PM EDT Reads: 1,182
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Mar. 27, 2017 01:15 PM EDT Reads: 715
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Mar. 27, 2017 01:00 PM EDT Reads: 2,055
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Mar. 27, 2017 01:00 PM EDT Reads: 1,441
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Mar. 27, 2017 12:45 PM EDT Reads: 1,345
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin, ...
Mar. 27, 2017 11:30 AM EDT Reads: 6,725
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Mar. 27, 2017 11:15 AM EDT Reads: 2,359
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 27, 2017 10:30 AM EDT Reads: 3,003
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
Mar. 27, 2017 10:30 AM EDT Reads: 3,131
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Mar. 27, 2017 09:30 AM EDT Reads: 2,107