🕐19.10.09 - 22:34 Uhr
Endeavour Silver Reports Production Results for Third Quarter, 2009; Produces 6
61,903 oz Silver (Up 6%) and 3,604 oz Gold (Up 46%) Compared to Q3, 2008;
=======================================================================
Endeavour Silver Reports Production Results for Third Quarter,
2009; Produces 661,903 oz Silver (Up 6%) and 3,604 oz Gold (Up
46%) Compared to Q3, 2008;
=======================================================================
Vancouver, BC, Canada -- October 19, 2009 - Endeavour Silver Corp.
("Endeavour" or the "Company") (EXK: NYSE-Amex, EJD: DB-Frankfurt,
EDR.WT: TSX, EDR: TSX) announced today that silver production for the
Third Quarter, 2009 from the Companys two operating silver mines in
Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in
Guanajuato State, totalled 661,903 ounces (oz) silver, up 6% compared
to Q3, 2008.
Gold production also rose in the Third Quarter, 2009, up 46% to 3,604
oz compared to Q3, 2008, resulting in silver-equivalent production
rising 14% to 878,143 oz compared to Q3, 2008 (assuming a 60:1
silver:gold ratio - base metals not included as silver-equivalents).
The Q3, 2009 production data is outlined in the table below:
Bradford Cooke, Chairman and CEO, stated, "Endeavour posted another
strong quarter of production growth in Q3, 2009.
With tonnage
throughput, ore grades and metal recoveries all continuing to improve
at both Guanacevi and Guanajuato, we foresee another record quarter for
production in Q4, 2009."
Endeavour forecasts its silver production will climb sharply in the
Fourth Quarter of 2009 as this years capital expansion programs are
now largely completed.
Silver production is on schedule for the year
even though there was a one week shut-down by Presidential decree in
May due to the H1N1 virus, and several unexpected outages on the local
power grid at Guanacevi, management anticipates mine outperformance in
Q4 should allow the Company to meet its annual production target
barring any further unforeseen circumstances.
Production at Guanacevi comes primarily from the North Porvenir Mine,
although Porvenir Dos production continues to grow as the ramp advances
and new levels are accessed.
At Guanajuato, the Lucero vein continues
to contribute 60% of the production with the balance coming from Cebada
and Bolanitos.
Recent development on the Bolanitos vein in Guanajuato has outlined a
zone that is 55 meters along strike averaging 3.68 meters wide grading
219 g/t Ag and 4.25 g/t Au (Silver equivalent is 474 g/t Ag eq.
or
15.25 oz/T Ag eq.).
This development is accessing an area outlined
during the 2008 exploration drilling program.
The drill hole
intercepts indicate that the zone will continue for another 50 meters,
although the zone is still open along strike and down dip.
Recent developments at Porvenir 2 in Guanacevi has continued accessing
ore on 2 levels with average width of 2.68 meters grading 416 g/t Ag
and 0.75 g/t Au (461 g/t Ag eq.
or 14.8 oz/T Ag eq.) on the 3401 level
for a length of 213 meters and on the second level (3402) the average
width is 2.28 meters grading 501 g/t Ag and 0.86 g/t Au (553 g/t Ag eq.
or 17.8 oz/T Ag eq.) over a length of 185 meters.
The silver
equivalents are calculated using 60:1 silver to gold ratio with no base
metals included in the calculation.
Godfrey Walton, M.Sc., P.
Geo., the President and COO for Endeavour, is
the Qualified Person who reviewed this news release and oversaw the
mining operations.
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 four 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 program should help
Endeavour achieve its goal to become the next premier mid-tier primary
silver producer.
ENDEAVOUR SILVER CORP.
Per:
/s/ "Godfrey Walton"
GODFREY WALTON
President and Chief Operating 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 2009,
including silver and gold production, timing and expenditures to
develop new silver mines and mineralized zones, silver and gold grades
and recoveries, cash costs per ounce, capital expenditures and
sustaining capital and the use of proceeds from the Companys recent
financing.
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:
fluctuations in the prices of silver and gold, fluctuations in the
currency markets (particularly the Mexican peso, Canadian dollar and
U.S.
dollar); 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 (including environmental
hazards, industrial accidents, unusual or unexpected geological
conditions, pressures, cave-ins and flooding); inadequate insurance, or
inability to obtain insurance; availability of and costs associated
with mining inputs and labour; the speculative nature of mineral
exploration and development, diminishing quantities or grades of
mineral reserves as properties are mined; the ability to successfully
integrate acquisitions; risks in obtaining necessary licenses and
permits, and challenges to the companys title to properties; as well
as those factors described in the section "risk factors" contained in
the Companys most recent form 40F/Annual Information Form filed with
the S.E.C.
and Canadian securities regulatory authorities.
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.
=======================================================================
Copyright (c) 2009 ENDEAVOUR SILVER CORP.
(EDR) All rights reserved.
For more information visit our website at http://www.edrsilver.com/ or
send mailto:
=======================================================================
This email was sent to .
You can instantly unsubscribe from these emails by clicking the link below:
http://endeavoursilvercorp.createsend.com/t/r/u/hjjhjl/ftudkjhi/