Endeavour
Mining Reports Positive Exploration Results at Youga
Including 5m at 24.9 g/t Gold
George Town,
Grand Cayman, January 24, 2011 -- 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
|
To
|
Interval
|
True Width
|
Au Grade
|
|
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(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
|
To
|
Interval
|
Au Grade
|
|
|
|
(m)
|
(m)
|
(m)
|
(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
|
To
|
Interval
|
Au Grade
|
|
|
|
(m)
|
(m)
|
(m)
|
(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.
For additional information, contact:
Stephen Roberts, Senior Vice President -- Investor Relations (604) 609-6130
email: sroberts@endeavourmining.com
or