Endeavour Silver (TSX:EDR) (NYSE:EXK) reports its production results for the Third Quarter, 2017 from the Company’s three silver-gold mines in Mexico: the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato State. Silver production in the Third Quarter, 2017 was 1,262,064 ounces (oz) and gold production was 13,648 oz resulting in silver equivalent production of 2.2 million oz using a 70:1 silver:gold ratio.
Production was slightly lower in Q3, 2017 compared to Q3, 2016 due to operating issues at the Guanacevi mine, now mostly resolved, and revised annual mine plans which led to lower throughput. However, production was higher in Q3, 2017 compared to Q2, 2017 primarily due to improved performance at the Bolañitos and El Cubo mines.
Endeavour CEO Bradford Cooke commented:
“Third quarter production showed continued improvement over the second quarter production on a consolidated basis. Both Bolanitos and El Cubo are on track to meet or beat their operating plans for the year. Guanaceví’s performance is now rebounding with grades up in Q3 and our forecasted throughput up for Q4, targeting 1000 tpd by year-end.
In July, we made a production decision to develop the small but high grade El Compas project in Zacatecas, Mexico as our fourth mine. Work is now well underway on developing the mine access ramp and refurbishing the leased process plant. Production is scheduled to commence by the end of Q1, 2018.”