Endeavour Mining Corporation
("Endeavour") is pleased to report positive results from
exploration on its Youga Gold Mine located in Burkina
Faso, West Africa. The focused 2010 exploration campaign
identified several new resource targets including the A2NE and LeDuc
Zones. These targets are located within the existing Youga Mine Permit
and within 3 kilometres of the Youga Plant.
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 expanded the program and committed a further US$10 million in
2011.
A2NE
The A2NE target is located three
kilometres to the northeast of the Youga plant. The 2010 program included
reverse-circulation ("RC") and diamond drilling along a 350 metre
strike. All 52 holes intersected mineralization and were successful in
establishing the continuity of the deposit. Highlights of that drilling
program are reported in Table 1.
Results from the recently completed RC
step-out drilling at A2NE reported several high-grade intersections
including; YNRC-045 with 5m @ 24.9g/t including 1m @ 107g/t,
YNRC-040 with 9m @ 4.8g/t including 3m @ 13.4g/t and YNRC-048
with 8m @ 1.5g/t including 1m @ 4.1g/t (see Table 2).
These results represent an additional
300 metres of strike length on the western end of the portion of this deposit
which is currently undergoing resource evaluation.
Table 1 A2NE 2010 Drilling Highlights
Hole ID
|
Type
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True Width
(m)
|
Au Grade
(g/t)
|
YNRC-003
|
RC
|
8
|
28
|
20
|
17
|
1.8
|
Including
|
|
18
|
22
|
4
|
|
4.6
|
YNRC-014
|
RC
|
11
|
27
|
16
|
13
|
1.8
|
Including
|
|
26
|
27
|
1
|
|
16.4
|
YNRC-020
|
RC
|
35
|
45
|
10
|
8
|
2.8
|
Including
|
|
35
|
39
|
4
|
|
5.3
|
YNE-10-002
|
DDH
|
8.6
|
31
|
22.4
|
18
|
3.1
|
Including
|
|
21
|
22.5
|
1.5
|
|
18.6
|
YNE-10-018
|
DDH
|
80
|
83
|
3
|
3
|
37.2
|
Including
|
|
80
|
81
|
1
|
|
104.0
|
Table 2 A2NE 2010 Step-out Drilling
Highlights
Hole ID
|
Type
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au Grade
(g/t)
|
YNRC-039
|
RC
|
0
|
1
|
1
|
29.9
|
YNRC-040
|
RC
|
37
|
46
|
9
|
4.8
|
Including
|
|
37
|
40
|
3
|
13.4
|
YNRC-044
|
RC
|
17
|
23
|
6
|
5.3
|
Including
|
|
17
|
20
|
3
|
9.7
|
YNRC-045
|
RC
|
58
|
63
|
5
|
24.9
|
Including
|
|
61
|
62
|
1
|
107.0
|
YNRC-048
|
RC
|
2
|
10
|
8
|
1.5
|
Including
|
|
6
|
7
|
1
|
4.1
|
Also
|
|
27
|
28
|
1
|
7.2
|
YNRC-052
|
RC
|
0
|
1
|
1
|
17.1
|
YNRC-053
|
RC
|
6
|
11
|
5
|
7.5
|
Including
|
|
8
|
11
|
3
|
12.1
|
*All intervals for the step out 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.
LeDuc
The LeDuc target is situated three
kilometres southwest of the Youga plant. The RC program on the LeDuc zone was
only partially completed prior to the year-end break. Highlights from the
reported intersections include; YLRC-008 with 20m @ 1.7g/t, YLRC-001 with
22m @ 1.0g/t including 2m @ 3.1g/t and YLRC-010 with 21m @
1.1g/t (see Table 3). The completion of this program and follow up on the
initial results is planned for 2011.
Table 3 LeDuc 2010 Drilling Highlights
Hole ID
|
Type
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au Grade
(g/t)
|
YLRC-001
|
RC
|
80
|
102
|
22
|
1.0
|
Including
|
|
87
|
89
|
2
|
3.1
|
YLRC-002
|
RC
|
15
|
30
|
15
|
1.0
|
Including
|
|
18
|
19
|
1
|
2.4
|
Also
|
|
93
|
110
|
17
|
1.1
|
Including
|
|
93
|
94
|
1
|
4.4
|
YLRC-003
|
RC
|
8
|
23
|
15
|
1.0
|
Including
|
|
8
|
10
|
2
|
2.7
|
YLRC-008
|
RC
|
84
|
104
|
20
|
1.7
|
YLRC-009
|
RC
|
80
|
91
|
11
|
0.9
|
YLRC-010
|
RC
|
108
|
129
|
21
|
1.1
|
*All intervals for the LeDuc 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.
Accelerated Exploration Campaign at
Youga Mine and Youga Gold Belt in 2011
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.
Follow-up and infill drilling is
currently underway on these new drill targets and additional mineral
resources will be reported in during Q1 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.
Adrian De Freitas, C.Eng., General
Manager, Youga Mine is the Qualified Person overseeing production and
development in West Africa and has reviewed
and approved this press release.
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
"Bill Koutsouras"
Bill Koutsouras
Executive Vice President & Chief
Financial 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.
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