EX-99.1 2 exh99_1.htm EXHIBIT 99.1 exh99_1.htm
 
 


Exhibit 99.1
 
NEWS RELEASE
 
Endeavour Silver Drilling Continues to Intersect High Grade Silver-Gold Mineralization in V-Asuncion Area at the El Cubo Mine, Guanajuato, Mexico
 

 
Vancouver, Canada – September 30, 2014 - Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) announces that exploration drilling along the V-Asuncion area at the El Cubo mine in Guanajuato State, Mexico continues to intersect high grade silver-gold mineralization.  The main mineralized zone now extends over 1,200 metres (m) in length by up to 450 m vertically, still open to some extent down dip.

Drilling highlights since April in the Villalpando and Asuncion veins include 200 grams per tonne (gpt) silver and 5.49 gpt gold (530 gpt silver equivalent (AgEq)) over 8.20 m true width (15.5 ounces per ton (opT) AgEq over 26.9 feet (ft)), in hole CAS-60, including 1,535 gpt silver and 36.70 gpt gold (3,737 gpt AgEq) over 0.40 m true width (109.0 opT AgEq over 1.3 ft).

Silver equivalents are calculated at a ratio of 60: 1 silver: gold.  Recent positive drill results are summarized in the following table:

Hole
Structure
From
True Width
Au
Ag
AgEq
(m)
(m)
(gpt)
(gpt)
(gpt)
CAS-50
Villalpando
306.05
3.21
0.61
156
193
Including
306.05
0.56
0.92
208
263
CAS-53
Villalpando
480.50
1.90
0.76
206
252
Including
480.50
0.51
1.48
334
423
CAS-58
Villalpando
306.60
1.85
1.14
126
195
Including
308.25
0.26
1.77
294
400
CAS-59
Villalpando
415.35
1.80
5.02
560
862
Including
417.20
0.32
8.43
658
1164
CAS-60
Villalpando
451.70
8.20
5.49
200
530
Including
452.10
0.40
36.70
1535
3737
CAS-61
Villalpando
500.80
4.10
5.41
399
723
Including
506.10
0.42
19.55
1335
2508
CAS-63
Villalpando
253.55
4.57
0.91
170
225
Including
255.65
0.43
2.62
456
613
CAS-64
Villalpando
294.35
3.44
2.15
235
365
Including
298.45
0.20
19.70
793
1975
CAS-68
Villalpando
510.90
2.46
2.60
289
445
Including
512.70
0.20
8.09
826
1311
CAS-74
Villalpando
302.25
1.63
0.32
185
204
Including
302.25
0.27
0.69
831
872
CAS-76
Villalpando
373.75
2.60
1.12
131
198
Including
373.75
0.69
2.58
111
266
CUDG-938
Asunción
115.90
1.71
1.76
64
169
Including Villapando
115.90
0.53
5.28
181
498
CUDG-941
Villalpando
138.60
1.65
0.94
319
375
Including
139.50
0.57
0.79
350
397
CUDG-942
Villalpando
177.50
1.70
0.92
255
310
Including
177.50
0.26
3.47
784
992
 
 
 

 
 
CUDG-944
Asunción
122.85
1.74
2.31
49
188
Including
122.85
0.66
3.09
32
217
CUDG-947
Villalpando
116.45
1.77
0.31
139
158
Including
116.45
0.49
1.02
479
540
CUDG-949
Villalpando
129.60
3.38
2.32
409
548
Including
131.95
0.52
6.08
770
1135
CUDG-950
Villalpando
184.65
6.50
5.62
336
673
Including
193.00
0.67
17.00
837
1857
CUDG-953
Villalpando
185.20
1.72
0.76
220
265
Including
186.85
0.34
1.37
625
707
CUDG-954
Villalpando
228.40
1.73
5.30
684
1002
Including
229.35
0.35
16.95
1515
2532
CUDG-956
Asunción
129.70
1.75
1.67
88
188
Including Villalpando
129.70
0.54
3.02
203
384
CUDG-958
Villalpando
108.55
3.45
1.50
68
158
Including
109.20
0.38
2.41
294
439
CUDG-960
Villalpando
195.50
3.14
10.56
508
1142
Including
195.50
0.69
17.30
788
1826


The Villalpando vein is a large structure up to 8 m wide that has been traced on surface for more than 9 kilometres on the El Cubo mine property.  The northern half was mined over the last 160 years but the southern half has seen little exploration or development.   In the V-Asuncion mineralized zone, the Villalpando vein splays into two parallel veins, the main vein and the Asuncion hanging-wall vein.  Drill intercepts for the Villalpando vein are shown on the longitudinal section posted on the company website.

Luis Castro, Vice President of Exploration, commented, “We continue to be encouraged by the strong continuity, thickness and grades of mineralization intersected by drilling in the V-Asuncion area this year. V-Asuncion sits towards the south end of the Villalpando vein system in an area never fully explored.  Other prospective target areas on the property are scheduled for drilling over the next two years.

“The V-Asuncion area was identified as a prospective target in late 2012, discovered by surface drilling and underground development in 2013 and significantly expanded by drilling and development this year.  Grades and thicknesses are substantially better than several other producing areas. We are aggressively exploring and developing this area in order to boost mine production and fill the plant to capacity.

“Endeavour currently has four drill rigs working at El Cubo and twelve drill rigs in total working in Mexico, although the rig count will now decline as the 2014 drill programs wrap up in the fourth quarter.”

Godfrey Walton, M.Sc., P.Geo., Endeavour’s President and COO, is the Qualified Person who reviewed and approved this news release and supervised the drilling programs in Mexico. A Quality Control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office and shipped to ALS-Chemex Labs, where they are dried, crushed, split and 50 gram pulp samples are prepared for analysis. Gold and silver are determined by fire assay with an atomic absorption (AA) finish.

About Endeavour – Endeavour Silver is a mid-tier silver mining company focused on growing its production, reserves and resources in Mexico. Since start-up in 2004, the Company has posted nine consecutive years of accretive growth of its silver mining operations. Endeavour’s three operating silver-gold mines in Mexico combined with its strategic acquisition and exploration programs should facilitate our goal to become a premier senior silver producer.
 
Contact Information - For more information, please contact:
Meghan Brown, Director Investor Relations
Toll free: 1-877-685-9775
Tel: 604-640-4804
Fax: 604-685-9744
Email: mbrown@edrsilver.com
Website: www.edrsilver.com
 
 
 

 

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, the timing and results of exploration drill programs and expectations of increased resource/reserve estimates. 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; fluctuations in the prices of commodities and their impact on reserves and resources 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, drilling results to achieve increases in resource/reserve estimates, 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.