Endeavour Silver Continues to Define High Grade, Silver-Gold Vein Mineralization at Terronera Property in Jalisco State, Mexico

Endeavour Silver Corp.

VANCOUVER, BC –(Marketwired – October 24, 2016) – Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) announces that in-fill drilling on the Terronera property in Jalisco State, Mexico continues to define high grade, silver-gold mineralization within the Terronera vein system. The main mineralized zone extends over 1,400 metres (m) in length, to 350 m deep and is still open along strike to the southeast and down dip (view long section here).

Recent drilling highlights are summarized in the table below and include 717 grams per tonne (gpt) silver and 2.94 gpt gold (923 gpt silver equivalent (AgEq)) over 6.56 metres (m) true width, or 26.9 ounces per ton (opT) AgEq over 21.5 feet (ft), including 4,860 gpt silver and 2.99 gpt gold (5,069 gpt AgEq) over 0.39 m true width, or 147.8 opT AgEq over 1.3 ft in hole TR10.5-1.

Hole Structure From True Width Au Ag AgEq
(m) (m) (gpt) (gpt) (gpt)
TR10.5-1 Terronera 380.75 6.56 2.94 717 923
Including 386.90 0.39 2.99 4,860 5,069
TR12-6 Terronera 419.15 4.53 1.83 71 199
Including 423.35 0.34 3.90 206 479
Fw Terronera 436.50 1.59 0.35 243 268
Including 436.50 0.07 0.53 764 801
TR14-7 Terronera 363.90 4.78 3.91 109 383
Including 372.25 0.48 11.05 246 1020
TR15-6 Hw Terronera 126.70 2.10 1.22 737 823
Including 127.55 0.34 3.34 2,140 2,374
TR16-9 Terronera 212.20 2.67 2.18 72 225
Including 214.45 0.38 5.56 133 522
Hw Terronera 254.75 0.23 2.60 152 334
TR17-5 Terronera 83.35 1.80 0.43 216 246
Including 83.35 0.40 0.88 484 546
TR18-6 Hw Terronera 48.10 5.28 3.48 53 296
Including 52.75 0.20 23.80 90 1,756
TR19-6 Hw Terronera 57.85 1.74 0.35 179 204
Including 59.35 0.13 0.25 354 372
TR20-7 Terronera 80.70 4.99 2.70 81 270
Including 81.55 0.25 17.15 431 1,632
Old Working 87.75 3.22 Old Working
Hw Vein 97.80 5.85 1.54 174 282
Including 99.10 0.31 6.48 186 640
TR20-8 Terronera 67.60 5.35 2.73 112 302
Including 69.60 0.49 0.58 651 692
Old Working 74.05 1.80 Old Working
Hw Terronera 80.00 7.72 0.85 106 166
Including 89.05 0.59 0.12 301 310
TR21-5 Terronera 42.45 13.22 1.55 145 254
Including 45.60 0.48 4.57 102 422
Hw Terronera 83.80 4.04 5.34 107 481
Including 83.80 0.23 27.60 74 2,006
TR24-2 Terronera 46.55 2.11 0.35 168 192
Including 46.55 0.49 0.09 402 408
TR24-3 Terronera 77.65 10.32 1.96 82 219
Including 79.15 0.31 19.40 69 1,427
Including 93.10 0.19 1.57 684 794
TR25-3 Terronera 102.70 1.69 7.21 268 773
Including 103.25 0.40 13.05 354 1,268

Silver equivalents are calculated at a ratio of 70:1 silver:gold.

Luis Castro, Vice President of Exploration, commented, “These in-fill drill results continue to confirm high grade silver-gold mineralization over substantial true widths in the Terronera vein. The deposit is still open for expansion at depth and to the southeast, and we now have high priority drill targets identified in several other mineralized, subparallel veins to the north of the Terronera vein.

“Three drill rigs are currently working on the Terronera property for step-out drilling along the Terronera vein and exploratory drilling of some new targets. We used a June 30 cut-off date of drill results in order to update the resource estimate and facilitate mine engineering and economic analysis for the pre-feasibility study now underway.”

Godfrey Walton, M.Sc., P.Geo., Endeavour’s President and COO, is the Qualified Person who reviewed and approved this news release and supervised the drilling programs in Mexico. A Quality Control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office 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.

About Endeavour — Endeavour Silver Corp. is a mid-tier precious metals mining company with three high-grade, underground, silver-gold mines in Mexico. Since start-up in 2004, Endeavour has grown its mining operations organically to produce 11.4 million ounces of silver equivalents in 2015. Development of Endeavour’s high-grade discovery on the Terronera property in Jalisco state, the permitted El Compas mine and plant in Zacatecas state, and the prospective Parral properties in Chihuahua state, should facilitate the Company’s goal to become a premier senior producer in the silver mining sector.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2016 and the timing and results of various activities. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

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CONTACT INFORMATION

  • For more information, please contact:
    Meghan Brown
    Director Investor Relations
    Toll free: 1-877-685-9775
    Tel: 604-640-4804
    Fax: 604-685-9744
    Email: mbrown@edrsilver.com
    Website: www.edrsilver.com