Endeavour Silver Drilling Extends High Grade Silver Mineralization
in Alex Breccia Zone
at Guanacevi Mines Project, Durango State, Mexico
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Vancouver,
Canada - January 7, 2009 -
Endeavour Silver Corp. (EDR: TSX, EJD: DBFrankfurt and EXK:
NYSE-AlterNext) announces that exploration
drilling in late 2008 at the Guanacevi Mines project in Durango State,
Mexico, was successful in extending high grade silver mineralization in
the Alex Breccia mineralized zone for a total of 150 meters along strike
and more than 200 meters vertically below the shallow historic mine
workings.
The Alex Breccia zone is located approximately 1 km southeast of the
producing Porvenir mine within the same ore-bearing structure, the Santa
Cruz vein. Endeavour is currently developing underground ramp and sill
access to the Alex Breccia zone in order to prepare it for the
commencement of production in Q1, 2009, at which time it will become the
second operating mine in the Guanacevi Mines project.
Drilling highlights include drill hole BAU-12, which intersected 670
grams per tonne silver, 0.71 gpt gold and 4.9% combined lead-zinc over
5.18 m (21.1 oz per ton silver equivalent over 17.0 feet), including 1711
gpt silver, 1.51 gpt gold and 8.19% combined lead-zinc over 1.72 m (53.2
opT silver equivalent over 5.6 ft), and drill hole BAU-16, which
intersected 585 gpt silver, 0.52 gpt gold and 1.41% combined lead-zinc
over 2.68 m (18..2 opT silver equivalent over 8.8 ft), including 2920 gpt
silver, 2.45 gpt gold and 3.43% combined lead-zinc over 0.43 m (90.5 opT
silver equivalent over 1.4 ft). Silver equivalents are calculated using a
silver: gold ratio of 75: 1 and do not include lead and/or zinc.
Bradford Cooke, Chairman and CEO, stated, "We are gratified to see
such strong drill results supporting our decision to push ahead with the
development of the Alex Breccia zone. It will be the first new silver
mine at Guanacevi since Endeavour discovered and developed the Porvenir
mine to production in late 2004. Alex Breccia represents the first of
three new mines scheduled for development at Guanacevi in 2009 in order
facilitate Endeavour's next phase of organic production growth."
High grade silver-gold-lead-zinc mineralization at Alex Breccia has been
intersected in sixteen drill holes (eight drill holes previously
reported) along the Santa Cruz vein and two related splays, located to
the south-east of Endeavour's operating Porvenir mine at Guanacevi, as
follows:
Alex Breccia Drill Results
Hole
|
Vein
|
From
(m)
|
To
(m)
|
Core
Length
(m)
|
True
Width
(m)
|
Silver
(gpt)
|
Gold
(gpt)
|
Lead
(%)
|
Zinc
(%)
|
BAU-9
|
Santa Cruz
|
182.80
|
188.30
|
5.50
|
1.42
|
49
|
0.15
|
2.37
|
2.66
|
FW Santa Cruz
|
190.50
|
191.70
|
1.20
|
0.46
|
161
|
0.43
|
9.85
|
7.06
|
BAU-10
|
Santa Cruz
|
117.85
|
121.30
|
3.45
|
2.64
|
114
|
0.25
|
1.26
|
3.60
|
Including
|
118.45
|
119.00
|
0.55
|
0.42
|
319
|
0.91
|
0.83
|
2.64
|
FW Santa Cruz
|
125.05
|
130.65
|
5.60
|
4.44
|
215
|
0.29
|
0.71
|
2.71
|
Including
|
128.80
|
130.65
|
1.85
|
1.51
|
312
|
0.36
|
1.15
|
6.15
|
BAU-11
|
HW Santa Cruz
|
124.55
|
129.75
|
5.20
|
3.62
|
174
|
0.16
|
0.25
|
0.59
|
Including
|
124.55
|
126.75
|
2.20
|
1.49
|
323
|
0.28
|
0.56
|
1.03
|
Hole lost due to bad ground before intercepting Santa Cruz &
FW Santa Cruz veins
|
BAU-12
|
HW Santa Cruz
|
187.50
|
193.60
|
6.10
|
4.13
|
200
|
0.20
|
0.57
|
1.78
|
Including
|
193.05
|
193.60
|
0.55
|
0.45
|
658
|
0.23
|
1.29
|
8.53
|
Santa Cruz Vein
|
196.60
|
208.40
|
11.80
|
5.18
|
670
|
0.71
|
2.27
|
2.61
|
Including
|
200.95
|
205.35
|
4.40
|
1.72
|
1,711
|
1.51
|
3.25
|
4.94
|
BAU-13
|
HW Santa Cruz
|
205.85
|
208.55
|
2.70
|
2.07
|
89
|
6.04
|
0.34
|
0.36
|
Including
|
206.90
|
207.20
|
0.30
|
0.23
|
369
|
42.40
|
0.18
|
0.27
|
Santa Cruz
|
232.10
|
235.15
|
3.05
|
1.29
|
312
|
0.55
|
0.28
|
0.45
|
FW Santa Cruz
|
241.80
|
246.20
|
4.40
|
3.79
|
198
|
0.94
|
1.00
|
0.94
|
Including
|
241.80
|
242.75
|
0.95
|
0.86
|
558
|
2.42
|
1.04
|
0.60
|
BAU-14
|
Santa Cruz
|
211.65
|
217.30
|
5.65
|
3.24
|
125
|
0.22
|
1.27
|
2.86
|
Including
|
213.70
|
214.50
|
0.80
|
0.46
|
303
|
0.14
|
3.69
|
7.27
|
BAU-15
|
Santa Cruz Vein
|
163.85
|
164.35
|
0.50
|
0.32
|
288
|
0.23
|
0.64
|
1.49
|
BAU-16
|
HW Santa Cruz
|
140.15
|
143.25
|
3.10
|
2.68
|
585
|
0.52
|
0.71
|
0.70
|
Including
|
140.15
|
140.65
|
0.50
|
0.43
|
2,920
|
2.45
|
3.21
|
0.22
|
Santa Cruz
|
148.30
|
152.20
|
3.90
|
1.95
|
249
|
0.29
|
1.56
|
4.27
|
FW Santa Cruz
|
170.10
|
170.45
|
0.35
|
0.22
|
82
|
0.19
|
4.07
|
7.30
|
The new high grade drill intercepts at Alex Breccia are located below the
level 6 drift that extends south-east from the Santa Cruz mine workings,
and the ore is being accessed for mining by driving a 300 m ramp from
level 6 down into the ore-body. An updated NI 43-101 reserve and resource
estimate is being prepared for the Guanacevi Mines project in Q1, 2009
and will include the Alex Breccia zone as well as other new discovery
areas..
Please click here to view the Guanacevi and Alex
Breccia longitudinal sections.
Barry Devlin, M.Sc., P.Geo. Vice President Exploration is the Qualified
Person who reviewed this news release and supervised the surface drilling
and sampling programs at the Parral, Guanacevi and Guanajuato Projects. A
Quality Control sampling program of reference standards, blanks and
duplicates has been instituted to monitor the integrity of all assay
results.. All core samples are split at the Parral, Guanajuato, or
Guanacevi field offices 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. (EDR: TSX, EXK: NYSE-AlterNext, EJD:
DBFrankfurt) is a small-cap silver mining company focused on the
growth of its silver production, reserves and resources in Mexico. Since
acquiring the Guanacevi Mines project in 2004, Endeavour has posted four
consecutive years of aggressive silver production and reserve growth. The
expansion programs now underway at Endeavour's two operating mines,
Guanacevi in Durango State and Guanajuato in Guanajuato State, should
facilitate Endeavour's continued growth into a mid-tier primary silver
producer.
ENDEAVOUR SILVER CORP.
Per:
/s/ "Bradford J. Cooke"
Bradford Cooke
Chairman and CEO
For more
information, please contact Hugh Clarke Toll free: 877-685-9775, tel:
(604) 685-9775, fax: (604) 685-9744, email hugh@edrsilver.com or visit our
website, www.edrsilver.com.
The TSX Exchange has neither approved nor disapproved the contents of
this news release.
CAUTIONARY DISCLAIMER - FORWARD
LOOKING STATEMENTS
Certain
statements contained herein constitute "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. All statements that are not
historical facts, including without limitation statements regarding
future estimates, plans, objectives, assumptions or expectations of
future performance, are "forward-looking statements". We
caution you that such "forward-looking statements" involve
known and unknown risks and uncertainties, as discussed in the Company's
filings with Canadian and United States securities agencies. The Company
expressly disclaims any obligation to update any forward-looking
statements other than as required by applicable law. We seek safe
harbour.
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