🕐23.11.10 - 17:54 Uhr
Endeavour Silver Discovers Swarm of New High Grade Gold-Silver Veins Near Lucero
-Karina Veins at the Guanajuato Mine, Guanajuato, Mexico
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Re: News - Tuesday, November 23, 2010
Endeavour Silver Discovers Swarm of New High Grade Gold-Silver
Veins Near Lucero-Karina Veins at the Guanajuato Mine,
Guanajuato, Mexico
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Vancouver, Canada - November 23, 2010 - Endeavour Silver Corp.
(TSX:
EDR; NYSE-Amex: EXK; DB-Frankfurt: EJD) announces that exploration
drilling south of the Bolanitos mine, part of Endeavours Guanajuato
Mines project in Guanajuato State, Mexico, has discovered a swarm of
new high grade, gold-silver veins near the currently producing Lucero
vein and the recently discovered Karina and Fernanda veins.
Drill hole KA-15 intersected 14 separate mineralized veins, including a
large new vein called the Daniela Vein, which assayed 7.14 grams per
tonne (gpt) gold and 179 gpt silver over a 9.10 meter (m) core length
(15.6 oz per ton (opT) silver equivalents over 29.9 feet assuming 100%
metallurgical recovery).
Another vein intercept returned 49.6 gpt gold
and 349 gpt silver over a 0.61 m core length (82.5 opT silver
equivalents over 2.0 feet assuming 100% metallurgical recovery).
Further drilling is underway around this hole to obtain more
intersections so that the orientation of this vein can be determined
and therefore the true width.
Silver equivalents are based on the current silver: gold ratio of 50:
1.
Drill results for hole KA-15 were as follows:
View table - KARINA, FERNANDA AND DANIELA DRILL RESULTS FOR HOLE KA-15
in PDF Format:
http://www.edrsilver.com/i/pdf/2010-11-23_NR.pdf
Barry Devlin, Vice President Exploration for Endeavour, commented: "Our
exploration drilling at Guanajuato continues to discover new veins
carrying high grade, gold-silver mineralization over mineable widths.
The latest vein swarm, which includes the robust new Daniela vein, lies
in the footwall of the Karina and Fernanda vein, which were discovered
only a couple of months ago."
"These new vein discoveries carry higher gold grades, in some cases
much higher gold grades, compared to other veins in the district.
We
now have three drill rigs working in Guanajuato to try and delineate
the extents of our new finds, and we still have multiple drill targets
yet to test.
As a result of our recent exploration successes,
management is considering a major mine and plant expansion for
Guanajuato in 2011."
Barry Devlin, M.Sc., P.
Geo., Vice President Exploration, is the
Qualified Person who reviewed this news release and supervised the
drilling program at Guanajuato.
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 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 lead, zinc and copper are determined by AA.
Endeavour Silver Corp.
is a small-cap silver mining company focused on
the growth of its silver production, reserves and resources in Mexico.
Since start-up in 2004, Endeavour has posted five consecutive years of
growing silver production and resources.
The organic expansion programs
now underway at Endeavours two operating silver mines in Mexico
combined with its strategic acquisition and exploration programs should
help Endeavour achieve its goal to become the next premier mid-tier
silver mining company.
ENDEAVOUR SILVER CORP.
Per:
/s/ "Bradford Cooke"
BRADFORD COOKE
Chairman and Chief Executive Officer
For more information, please contact Hugh Clarke at Toll free:
877-685-9775, tel: (604) 685-9775, fax: (604) 685-9744, email
or visit our 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 Endeavours anticipated performance in 2010 and
2011, silver and gold production, and timing and expenditures to
develop new silver mines and mineralized zones.
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.
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.
View News Release in PDF Format:
http://www.edrsilver.com/i/pdf/2010-11-23_NR.pdf
40 KB in size, approx.
8 seconds to download at 56.6Kbps
You can also view this News Release on our website at:
http://www.edrsilver.com/s/NewsReleases.asp?ReportID=430286
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Copyright (c) 2010 ENDEAVOUR SILVER CORP.
(EDR) All rights reserved.
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