Vancouver, Canada — December 13, 2011 – Endeavour Silver Corp. (NYSE: EXK, TSX: EDR, Frankfurt: EJD) announces that exploration drilling east of the Lucero-Karina-Fernanda-Daniela mine area at Endeavour’s Guanajuato Mines project in Guanajuato State, Mexico has discovered two new high grade silver-gold veins.
Drilling highlights in the La Joya vein include 463 grams per tonne (gpt) silver and 6.83 gpt gold over 2.00 meters (m) true width (24.1 ounces per ton (opT) silver equivalent (based on a silver: gold ratio of 53:1) over 6.6 feet (ft)) in hole LJ15S-1. Drilling highlights in the Belen vein include 497 gpt silver and 5.19 gpt gold over 1.08 m true width (22.5 opT silver equivalent over 3.5 ft) in hole BL0-3.
Drill results are as follows:
LA JOYA DRILL RESULTS
Hole | Vein | From | Core Length | True Width | Ag | Au |
|---|---|---|---|---|---|---|
(m) | (m) | (m) | (g/t) | (g/t) | ||
LJ6-1 | Hw La Joya | 185.40 | 5.75 | 5.34 | 244.1 | 1.71 |
Incl | 185.40 | 0.45 | 0.39 | 1,235.0 | 2.21 | |
LJ6-2 | Vein | 83.60 | 0.35 | 0.30 | 516.0 | 0.91 |
Breccia | 150.70 | 0.70 | 0.35 | 241.0 | 1.04 | |
Hw La Joya | 202.90 | 2.10 | 2.12 | 105.9 | 1.35 | |
La Joya Vein | 292.05 | 1.85 | 1.78 | 16.2 | 2.17 | |
LJ6-3 | Breccia | 94.00 | 1.30 | 1.00 | 205.1 | 2.03 |
Vein | 96.85 | 0.30 | 0.25 | 50.0 | 3.73 | |
Vein | 150.20 | 0.35 | 0.18 | 259.0 | 3.88 | |
LJ8-1 | La Joya | 363.30 | 2.00 | 1.88 | 244.0 | 0.93 |
Incl | 363.80 | 0.20 | 0.19 | 2,260.0 | 8.65 | |
LJ8-2 | Vein | 233.80 | 0.45 | 0.19 | 343.0 | 1.07 |
Hw La Joya | 282.60 | 4.95 | 4.87 | 119.0 | 0.68 | |
LJ10-1 | La Joya | 266.20 | 1.95 | 1.50 | 323.1 | 11.42 |
Vein | 289.45 | 0.30 | 0.28 | 298.0 | 1.43 | |
LJ14S-1 | La Joya Vein | 123.90 | 3.45 | 2.22 | 190.3 | 0.10 |
Incl | 126.55 | 0.80 | 0.51 | 740.0 | 0.35 | |
LJ15S-1 | La Joya South | 169.95 | 2.60 | 1.99 | 462.7 | 6.83 |
Incl | 171.95 | 0.60 | 0.46 | 725.0 | 21.10 | |
Vein | 174.20 | 0.25 | 0.18 | 311.0 | 3.61 | |
LJ16S-1 | Vein | 90.30 | 0.45 | 0.26 | 434.0 | 1.71 |
La Joya Vein | 109.45 | 1.80 | 1.16 | 251.0 | 0.69 | |
Vein | 186.60 | 0.40 | 0.36 | 1,185.0 | 2.38 |
BELEN DRILL RESULTS
Hole | Vein | From | Core Length | True Width | Ag | Au |
|---|---|---|---|---|---|---|
(m) | (m) | (m) | (g/t) | (g/t) | ||
BL4S-1 | Belen | 44.75 | 6.60 | 5.43 | 72 | 1.96 |
Incl | 47.50 | 0.60 | 0.46 | 178 | 5.67 | |
Vein | 52.20 | 2.10 | 1.89 | 15 | 1.38 | |
BL3S-1 | Belen | 95.40 | 3.25 | 2.69 | 53 | 1.95 |
BL3S-2 | HW Belen | 110.15 | 2.20 | 2.10 | 105 | 1.73 |
Incl | 110.85 | 0.80 | 0.79 | 252 | 4.38 | |
BL3S-3 | HW Belen | 125.25 | 4.50 | 3.10 | 116 | 2.51 |
BL2S-1 | Belen | 129.75 | 5.85 | 4.69 | 57 | 1.03 |
BL2S-2 | Belen | 153.10 | 1.95 | 1.83 | 183 | 3.06 |
BL2S-3 | Belen | 205.30 | 2.45 | 1.51 | 113 | 1.03 |
BL2S-4 | Belen | 70.50 | 1.70 | 1.68 | 120 | 2.43 |
BL1S-1 | Belen | 175.55 | 1.85 | 0.78 | 128 | 8.33 |
BL1S-3 | HW Belen | 79.25 | 2.20 | 2.19 | 116 | 4.83 |
Vein | 82.35 | 1.95 | 1.51 | 21 | 1.39 | |
Vein | 88.90 | 1.90 | 1.77 | 20 | 1.95 | |
Belen | 95.00 | 2.10 | 1.94 | 32 | 2.02 | |
BL0-2 | Vein | 225.80 | 1.25 | 1.12 | 167 | 2.33 |
BL0-3 | Vein | 228.05 | 1.65 | 1.08 | 497 | 5.19 |
Incl | 228.05 | 0.25 | 0.14 | 905 | 4.99 |
Barry Devlin, Vice President Exploration for Endeavour, commented: “Our recent discovery of new high grade silver-gold mineralized zones in the La Joya and Belen veins is yet another indication of the untapped exploration potential of Endeavour’s properties in this prolific silver-gold mining district. Two drill rigs continue to work in Guanajuato drilling the northern extent of the Daniela vein, and testing several other attractive drill targets in the La Luz sub-district.” To view maps of the area click here.
“As a result of our new discoveries this year, Endeavour anticipates there will be a substantial increase in reserves and resources at Guanajuato at year-end. This should allow management to undertake the next phase of mine expansion in 2012 from 1000 tonnes per day (tpd) up to 1600 tpd at Guanajuato. In 2011, Endeavour completed a major expansion of the Guanajuato plant from 600 tpd to 1600 tpd on time and budget and the plant successfully ramped up throughput to 1000 tonnes per day in October.”
Barry Devlin, M.Sc., P.Geo. Vice President, Exploration is the Qualified Person who reviewed this news release and supervised the drilling programs on the Guanajuato Mine properties. A Quality Control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples were split at the Guanajuato 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 and other elements are determined by AA.
ENDEAVOUR SILVER CORP.
Per:
/s/ “Bradford J. Cooke”
BRADFORD COOKE
Chairman and CEO
