|
Endeavour Mining Reports Positive Exploration Results at Youga Including 10m at 5.9 g/t
September 19, 2011
GEORGE TOWN,
Grand Cayman - Endeavour Mining Corporation (TSX:EDV) is
pleased to report positive results from the ongoing exploration at its Youga Gold Mine property located in Burkina Faso,
West Africa.
Neil Woodyer, CEO commented "We are pleased with the
exploration successes achieved at Youga.
The new discoveries are close to the current pits and represent possible
mine life additions. We look forward to more drill results in the
coming months."
Zergor�
The Zergor� deposit is
located 2.5 kilometres east of the Youga plant. Zergor�
has a recently reported Inferred Mineral Resource of 2.304 million tonnes with an average grade of 1.29 g/t Au at a 0.5
g/t Au cutoff grade (News Release dated February 17, 2011).
Recent results
from in-fill reverse-circulation ("RC") drilling have
consistently demonstrated continuity of grades and widths and continue to
improve the confidence, quality and interpretation of the mineralised zones within the deposit. A number
of significant intersections were reported including; YZRC-110 with 30m
at 2.4 g/t including 1m at 10.3 g/t and YZRC-169 with 10m at 5.9 g/t
including 3m at 11.4 g/t (see Table 1).
The current
drill program has been concluded with final assays expected in the coming
weeks and updated resource estimate to follow.
Main /
East Pit Exploration
Following up the previously reported positive results from the Triple 'A'
Zone (News Releases dated February 17, 2011 and August 3, 2011) on the
east wall of the Main Pit at Youga, and the
mineralization on the north wall of the East Pit (News Releases dated May
30, 2011 and August 3, 2011), additional RC drilling has reported a
number of significant intersections including; RC-11-340 with 7m at 2.4
g/t including 1m at 7.8 g/t, and RC-11-329 with 32m at 4.2 g/t, including
2m at 46.6 g/t (see Table 2).
*All intervals
are reported as down-hole lengths and are not corrected to true widths
for the mineralized intervals. Additional work is required to determine
true widths.
Due to the
close proximity of these new discoveries to the current pits and the possible
significant potential impact on operations, the resource estimation of
these zones has moved up in priority and the data is currently being
prepared for delivery to the resource estimation team.
Exploration
Campaign at Youga Mine and Youga
Gold Belt in 2011
Endeavour's Youga Gold
Mine, which has been in production since 2008, produced 82,400 ounces of
gold in 2010 and is targeting production of 84,000 ounces of gold in
2011. Endeavour's on-going exploration focus is the addition of mineral
reserves at Youga. Building on the success of
the 2010 Youga exploration campaign, which
identified several new resource targets within 3 kilometres
of the Youga Plant, Endeavour initially
committed US$10 million to the exploration program in 2011. Based
on recent positive results and additional targets, Endeavour has
committed an additional US$2.6 million bringing the commitment to a total
of 73,000 m of RC and core drilling as part of exploration and
resource/reserve development.
Qualified
Person
K. Kirk Woodman, P. Geo, Head of Exploration is
the Qualified Person overseeing Endeavour's exploration projects in West
Africa and has reviewed and approved this press release.
All sample
preparations and standard 50-gram gold fire assays were performed by SGS
Laboratories, Ouagadougou, Burkina Faso. Endeavour consistently employs a
rigorous quality control and assurance program comprising regular
insertion of certified reference standards, blanks and duplicates.
About
Endeavour Mining Corporation
Endeavour is a gold producer. Endeavour
also holds an extensive exploration land position and various
advanced-stage development gold projects in West Africa. Endeavour
has a global strategy, supported by financial resources and management's
company building expertise, to grow into an intermediate gold producer
through strategic acquisitions.
On August 21,
2011, Endeavour and Adamus Resources Limited (ASX:ADU)
announced they have entered into a definitive Merger Implementation
Agreement to combine through an all-stock merger of equals transaction
creating a new growth focused West African gold producer. The
merger is scheduled to close during December 2011.
The common
shares of Endeavour Mining Corporation are traded on the Toronto Stock
Exchange under the symbol "EDV".
On behalf of Endeavour Mining Corporation
"Neil Woodyer"
Neil Woodyer
Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The
foregoing information may contain forward-looking information relating to
the future performance of Endeavour Mining Corporation. Forward-looking
information, specifically, that concerning future performance, is subject
to certain risks and uncertainties, and actual results may differ materially.
These risks and uncertainties are detailed from time to time in the
Corporation's filings with the appropriate securities commissions.
---------------------------------------------------------------------
For further
information, please contact:
Stephen Roberts, Senior Vice President -
Investor Relations Tel: 604.609.6130
sroberts@endeavourmining.com
Vanguard Shareholder Solutions
Tel: 604.608.0824
Toll Free: 866.341.4111
investor@endeavourmining.com
www.endeavourmining.com
|