Endeavour Silver Corp. [EDR-TSX; EXK-NYSE] reported positive drill results from its continuing exploration program at the 100%-owned, 3,432-hectare Parral project Chihuahua State, Mexico. All amounts are in U.S. dollars, unless otherwise stated.
During the past 11 months, until the end of November, the company has drilled over 14,000 metres in 59 holes targeting several areas along the La Colorada vein.
Highlights from recent drill results include 2,846 g/t silver and 0.65% copper over a 0.89-metre estimated true width (ETW), including 3,380 g/t silver and 0.77% copper over 0.75 metres in drill hole VCS-10.
Hole VCU-38 returned 840 g/t silver, 0.11 g/t gold, 0.2% copper, 9.09% lead and 4.74% zinc for 1,288 g/t AgEq over a 2.77-metre ETW, including 1,585 g/t silver, 0.26 g/t gold, 0.55% copper, 34.88% lead and 4.38% zinc for 2,755 g/t AgEq over 0.36 metres.
Hole VCU-50 returned 708 g/t silver, 0.55 g/t gold, 0.16% copper, 10.95% lead and 12.38% zinc for 1,504 g/t AgEq over a 1.23-metre ETW, including 1,130 g/t silver, 0.91 g/t gold, 18.95% lead and 18.70% zinc for 2,406 g/t AgEq over 0.69 metres.
“The Parral project continues to deliver great results,” commented Dan Dickson, CEO. “Following limited drilling in 2020 due to the pandemic, it was a priority for our exploration team to restart the exploration program at Parral this year to expand on the mineral resource estimate we published on the project in early 2020. Our goal is to continue the drill program at Parral in 2022 as we get closer to achieving the scale required to support a positive economic assessment.”
The Parral project, which was acquired by Endeavour Silver in 2016, is in Hidalgo de Parral, a large historic silver mining district adjacent to the city of Parral, in the state of Chihuahua, Mexico. The project district comprises classic, high-grade silver, epithermal vein deposits, characterized by low-sulphidation mineralization. The property is accessible by paved and gravel roads and has access to the local power grid.
The Veta Colorada (including the Sierra Plata and El Verde mines) was a formerly producing mining operation owned by Grupo Mexico that closed in 1991 due to low silver prices. Mineralization, which occurs in a major silver vein structure that ranges from one to 30 metres thick, was mined seven levels down to 300-metre depths below surface in places and was traced for seven kilometres.
The company filed a NI 43-101 technical report on the Parral project on March 14, 2020. As of December 31, 2019, Parral had estimated Indicated Mineral Resources of 613,000 tonnes, containing 4.0 million ounces of silver grading 207 g/t, 6,800 ounces of gold grading 0.35 g/t, 17.5 million pounds of lead grading 0.63%, and 16.5 million pounds of zinc grading 0.61%. Inferred Resources stand at 4.04 million tonnes containing 35.0 million ounces of silver grading 269 g/t, 62,800 ounces of gold grading 0.48 g/t, 65.0 million pounds of lead grading 0.35% and 64.3 million pounds of zinc grading 0.35%.
Due to the COVID-19 pandemic, the company suspended the Parral drill programs in early 2020 and resumed drilling in 2021.