Endeavour Silver Corp. (NYSE: EXK) (TSE: EDR) has nearly completed construction on its Terronera project in Jalisco, Mexico.
The company included this information as part of an Wednesday update on its 2024 exploration programs. The progress reflects Endeavour’s commitment to expanding its operational footprint and increasing silver and gold output.
The Guanacevi Mine contributed to an 8 per cent revenue increase in Q3 2024, despite recent mill issues. Endeavour is actively resolving these operational challenges to stabilize production levels. At the Pitarrilla Project, ongoing exploration and evaluation efforts are underway.
As one of the world’s largest undeveloped silver deposits, the Pitarrilla Project is central to Endeavour’s long-term strategy to establish itself as a premier silver producer.
Endeavour Silver is actively investing in exploration, with recent drilling results from its portfolio revealing promising assays.
A drill alert, also from Wednesday, reported significant mineralization that could expand resources or enhance reserves at current or future sites. Among the results, a notable intercept included 108.25 meters at 0.02 g/t gold, 87 g/t silver, 0.08 per cent copper, 2.35 per cent zinc, and 0.55 per cent lead from a depth of 179.95 meters, indicating strong silver and base metal content.
Endeavour has refurbished and extended an existing underground ramp by over 1.3 kilometres, developing it through projected feeder structures and adding crosscuts for drill stations to test high-grade zones with core drilling at various angles.
Positioned directly above the manto, this work has confirmed management’s geological interpretation and revealed at least four main structures extending through the manto: the Palmito, Danna, Victoria, and Casas Blancas veins.
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Endeavour has completed nine diamond drill holes since August
Additional mineralized structures, such as the Norma vein, Danna hanging wall vein, and Peña dike, were also identified during ramp development. The Peña dike, the thickest structure, averaged 4.5 to 4.7 metres in width according to 16 channel samples, which were taken near perpendicular to strike.
Since August, Endeavour has completed nine diamond drill holes—six from surface and three from underground drill stations. The three underground holes intersected the manto and multiple veins, while the surface holes targeted the Casas Blancas vein. All holes successfully intersected mineralization, supporting management’s geological model and indicating the potential for underground bulk tonnage mining.
“The combined favourable grades, strike length, vertical extent, and vein proximity, along with the manto’s size and continuity, make the deposit attractive for underground bulk mining,” said Don Gray, chief operating officer.
“Our exploration team’s careful attention while relogging the historic drill results provided an alternative geologic model.”
Based on recent re-logging and reinterpretation of historic drill holes, Endeavour estimates that all four primary feeder veins have a vertical extent of approximately 600 to 800 metres, with strike lengths nearing 700 metres.
The largest, the Danna vein, extends approximately 800 metres vertically and 500 metres in strike length, with thicknesses typically around three metres. This work aims to assess the potential for an underground bulk tonnage mining approach, focusing on high-grade structures and the manto.
The company has maintained stable financial health, with revenue growth despite occasional production dips, reflecting effective cost management and operational efficiency. A strong focus on reducing all-in sustaining costs while managing inflationary pressures has been essential to maintaining profitability.
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