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Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) released updated NI 43-101 silver and gold reserve and resource estimates for its Guanaceví, Bolañitos and El Cubo mines, all producing and located in Mexico. Results are accurate as of December 31, 2015.
Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) released updated NI 43-101 silver and gold reserve and resource estimates for its Guanaceví, Bolañitos and El Cubo mines, all producing and located in Mexico. Results are accurate as of December 31, 2015.
Highlights as compared to December 31, 2014 are as follows:
- Silver Proven and Probable Reserves were flat at 12.0 million ounces (oz)
- Gold Proven and Probable Reserves were flat at 110,800 oz
- Silver Equivalent Proven and Probable Reserves totalled 19.7 million oz (70:1 silver:gold ratio)
- Silver Measured and Indicated Resources increased 7% to 69.8 million oz
- Gold Measured and Indicated Resources decreased 19% to 539,500 oz
- Silver Equivalent Measured and Indicated Resources totalled 107.6 million oz
- Silver Inferred Resources decreased 12% to 44.7 million oz
- Gold Inferred Resources increased 3% to 349,700 oz
- Silver Equivalent Inferred Resources totalled 69.2 million oz
- 2014 silver equivalents based on 70:1 silver:gold ratio, base metals not included
- All assumptions are listed at the bottom of the reserve and resource summary table
Brad Cooke, CEO of Endeavour, commented:
We are gratified to have replaced our P&P reserves and boosted our M&I silver resources given the challenging metal price environment last year. Our exploration efforts were successful in identifying new mineralization at each mine and the Terronera mine project should be a significant driver of new reserves and resources in 2016.
Click here to read the full Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) press release.