Endeavour Uncovers High-grade Silver-Gold Intersections at Bolanitos

Endeavour Silver (TSX:EDR,NYSE:EXK) has uncovered high-grade silver-gold intersections in multiple veins, the company announced on Wednesday (November 30).

According to Endeavour, a total of 55 drill holes from surface and 11,000 meters were completed by the end of October on seven different vein targets as part of a drill program at its Mexico-based Bolanitos mine. All targets are located within 4 kilometers of the Bolanitos plant.

“These step-out drill results have outlined several new mineralized areas and provided extensions to known areas, with potential for new resources to extend the mine life at Bolanitos,” stated Luis Castro, vice president of exploration.

“Specifically, San Miguel is a newly discovered vein to the North East, that is more extensive than previously recognized. Drilling has now wrapped up at Bolanitos for the year and a new resource estimate is expected in January,” he continued.

Drilling highlights include high silver-gold grades in two parallel veins at the San Miguel target just north of the plant; that includes 1,415 grams per tonne (gpt) silver and 2.25 gpt gold over a 1.1-meter true width over 3.6 feet in hole MG-06.  

Another highlight comes from the Arcangel vein, which is part of the La Luz vein system and includes 138 gpt silver and 13.2 gpt gold over a true width of 1.2 meters in hole LZU-17.

These drill results come on the heels of a successful third quarter. At the end of Q3, Endeavour reported silver production of 1,428,828 ounces and gold production of 12,968 ounces. Altogether the company put out 2.4 million silver equivalent ounces.

Overall, silver production increased by 13 percent year-on-year while gold production was down slightly, with output decreasing by 5 percent.

“Silver equivalent production was higher in Q3, 2018 compared to Q3, 2017, also compared to Q2, 2018, due to significantly improved silver and gold grades at El Cubo being mined from the center of the Villalpando-Asuncion orebody,” the company said when the results came out.

The release also states, “Guanaceví throughput and grades are expected to continue rising as the newly developed, higher grade Milache orebody commences production this month and the Bolañitos gold grades are expected to improve in Q4, 2018.”

As of 3:50 p.m. EST on Wednesday, Endeavour was up 2.49 percent, trading at C$2.47.

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Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.