logo-loader

Endeavour Silver says Parral drilling results reinforces district's potential

Last updated: 08:04 16 Nov 2017 AEDT, First published: 23:04 15 Nov 2017 AEDT

1510765645_shutterstock_176665277
Other highlights included two intercepts of 11m assaying 118 g/t silver, 0.60 g/t gold, 0.15% lead and 0.22% zinc

Endeavour Silver Corp (TSE:EDR, NYSE:EXK) says the potential at its Parral property in Mexico has been boosted by the  discovery of possible bulk-tonnage silver mineralization.

These were found within the Palmilla-Capuzaya-La Luz veins in the Palmilla mine area.

The firm said 32 holes were sunk in the area along two main mineralized structures over an area 550 metres (m) long by 250 m wide by 150 m deep.

Highlights included 11.1 metres  true width grading 154 grams per tonne (g/t) silver, 0.36 g/t gold, 0.07% lead and 0.23% zinc (179 g/t silver equivalent (AgEq) or 5.8 ounces per tonne AgEq) in one hole.

Other highlights included two intercepts of 11m assaying 118 g/t silver, 0.60 g/t gold, 0.15% lead and 0.22% zinc.

"Our discovery of potential bulk-tonnage silver-gold-lead-zinc mineralization in the Palmilla mine area, that may be amenable to open-pit mining, is an exciting new development for the Parral district in general and our property in particular," said Luis Castro, vice-president of exploration for Endeavour Silver.

"It gives us a second mineralized area with resource potential to complement the Veta Colorada area where we have already verified a portion of the historic high-grade silver resource.

"Drilling continues on the Parral property in a third mineralized area known as the San Patricio vein which lies to the north of Palmilla.

"A new resource estimate for the Parral property will be prepared at year-end for release in the first quarter of 2018."

Shares in New York nudged up 0.49% to US$2.06 each.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

8 hours, 22 minutes ago