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ENDEAVOUR MINING REPORTS ADDITIONS TO MINERAL RESOURCES AT YOUGA
GOLD MINE
George Town, Grand Cayman - Endeavour Mining Corporation (TSX: EDV) is
pleased to report additions to the mineral resources and recent
exploration results at its Youga Gold Mine
located in Burkina Faso, West Africa. Interim mineral resource estimates
were prepared on the Zergor� and A2NE zones
located within the existing Youga Mining Permit
following a successful drilling campaign in 2010. Work is ongoing and
both zones remain open in all directions. The 2011 drill program includes
17 targets of which 12 are within 3.5 kilometres
of the plant.
ZERGOR�
The Zergor� deposit is located 2.5 kilometres east of the Youga
plant. The 2010 drilling campaign included 94 reverse-circulation
("RC") and 10 diamond drill holes ("DDH") over an 850
metre strike length of the mineralized
zone. The recent resource estimate was based on all drilling to
date and resulted in an 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. The mineral resource is reported at a range of
cutoff grades in Table 1.
Table 1 Inferred Mineral Resource Estimate at Zergor�
as of December 31, 2010
Notes: Mineral Resources that are not Mineral Reserves do
not have demonstrated economic viability
Zergor� has been drilled in several stages including 68 holes by previous
operators and most recently 104 holes in 2010 by Endeavour.
Highlights of the 2010 RC drilling were reported in a previous news
release dated July 7, 2010. Highlights from additional results from the
2010 DDH drilling not previously reported include; 12m @ 2.6g/t including
2m @ 6.5g/t, and 10m @ 2.4g/t including 2m @ 9.8g/t (see
Table 2)
Table 2 Zergor�
Deposit DDH Highlights
Drilling on strike and depth extensions are underway. The Zergor�
deposit remains open in all directions.
A2NE
The A2NE target is located three kilometres
to the northeast of the Youga plant. The 2010
drilling included 32 RC and 20 diamond drill holes over a 350 metre strike length of the mineralized zone. A recent
resource estimate on the A2NE deposit resulted in an Indicated Mineral
Resource of 0.709 million tonnes with an
average grade of 1.32 g/t Au plus an Inferred Mineral Resource of
0.205 million tonnes with an average grade of
1.25 g/t Au at a 0.5 g/t Au cutoff grade. The mineral resource
is reported at a range of cutoff grades in Table 3.
Table 3 Mineral
Resource Estimate at A2NE as of December 31, 2010
Notes: Mineral Resources that are not Mineral Reserves do
not have demonstrated economic viability
Recent results from RC drilling along the western extension of
A2NE have confirmed the continuation of the mineralization for an
additional 300 metre (drilling highlights were
reported in a previous news release dated January 23, 2010) that has not
been included in this resource estimate. The A2NE deposit remains
open in all directions.
Triple 'A' Zone
Seven diamond drill holes were completed along the eastern side of
the Main pit to further test a mineralized zone intersected by a diamond
drill hole that reported 37m @ 2.0g/t including 4m @ 6.3g/t.
The follow-up drilling reported intersections in five of the holes
including; 8m @ 6.4g/t including 1.8m @ 15.0g/t, and 3m
@ 18.8g/t including 1m @ 37.8g/t (see Table 4).
Additional drilling is planned to establish the trend of the mineralization
and delineate the extents.
Table 4 Triple
'A' Zone Drilling Highlights
*All intervals
for the Triple 'A' drilling 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.
Commenting on the new mineral resource additions at Youga, Neil Woodyer Chief
Executive Officer stated "this initial mineral resource estimate
clearly demonstrates the potential of these known deposits, which are
located within three kilometres of the Youga plant. Endeavour is in the early stages of
working to extend the mine life at Youga. These
results increase our confidence in our ability to achieve that objective
and validate our previously announced US$10 million exploration campaign
at Youga for 2011. Further work will be
carried out on the established mineral resource areas to move them into
mineral reserves and we are confident about the potential to add further
resources."
Accelerated
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, Endeavour has
committed a further US$10 million in 2011 to accelerate its exploration
and resource delineation campaign with the objective of increasing
mineral resources and reserves that will extend the Youga
mine life. The 2011 program includes in excess of 50,000 metres of combined RC and diamond drilling.
The main focus of the 2011 exploration program will be to complete
follow-up and infill drilling for these deposits to allow them to be
brought into reserves in addition to the testing of other near-surface
targets with the objective to report additional mineral resources during
2011.
Qualified Persons
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. The mineral resource estimates were
prepared under Mr. Woodman's supervision.
Adrian De Freitas, C.Eng
MIMMM., General Manager, Youga Mine is the
Qualified Person overseeing production and development 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.
The common shares of Endeavour Mining Corporation are traded on
the Toronto Stock Exchange under the symbol "EDV".
For additional
information, please visit our corporate website at www.endeavourmining.com.
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.
Full Article
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For more
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
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