Tue Nov 23, 2010
Endeavour Silver Discovers Swarm of New High Grade Gold-Silver Veins Near Lucero-Karina Veins at the Guanajuato Mine, Guanajuato, Mexico
Vancouver, Canada - November 23, 2010 - Endeavour Silver Corp. (TSX: EDR; NYSE-Amex: EXK; DB-Frankfurt: EJD) announces that exploration drilling south of the Bolanitos mine, part of Endeavour's Guanajuato Mines project in Guanajuato State, Mexico, has discovered a swarm of new high grade, gold-silver veins near the currently producing Lucero vein and the recently discovered Karina and Fernanda veins.
Drill hole KA-15 intersected 14 separate mineralized veins, including a large new vein called the Daniela Vein, which assayed 7.14 grams per tonne (gpt) gold and 179 gpt silver over a 9.10 meter (m) core length (15.6 oz per ton (opT) silver equivalents over 29.9 feet assuming 100% metallurgical recovery). Another vein intercept returned 49.6 gpt gold and 349 gpt silver over a 0.61 m core length (82.5 opT silver equivalents over 2.0 feet assuming 100% metallurgical recovery). Further drilling is underway around this hole to obtain more intersections so that the orientation of this vein can be determined and therefore the true width.
Silver equivalents are based on the current silver: gold ratio of 50: 1. Drill results for hole KA-15 were as follows:
KARINA, FERNANDA AND DANIELA DRILL RESULTS FOR HOLE KA-15
Hole Vein From (m) Core Length True Width Ag (g/t) Au (g/t)
KA-15
Karina Vein 72.00 1.401.32 218 1.93
Vein 78.15 0.30 0.28 122 0.33
Vein 81.25 0.70 0.57 31 2.31
Fernanda Vein 83.90 0.65 0.27 177 3.87
Vein 100.35 1.20 1.13 133 5.28
Vein 122.85 0.80 0.69 165 3.37
Vein 124.85 0.30 0.19 12 2.68
Vein 140.10 0.35 0.22 138 1.15
Vein 146.80 0.30 0.17 48 22.60
Vein 151.35 0.95 0.61 349 49.60
Daniela Vein 154.70 9.10 Uncertain 179 7.14
Including 154.70 2.40 Uncertain 178 19.53
Vein 168.70 1.70 1.49 253 12.13
Vein 172.90 0.75 0.57 233 5.05
Vein 189.45 0.40 0.31 33 1.93
Barry Devlin, Vice President Exploration for Endeavour, commented: "Our exploration drilling at Guanajuato continues to discover new veins carrying high grade, gold-silver mineralization over mineable widths. The latest vein swarm, which includes the robust new Daniela vein, lies in the footwall of the Karina and Fernanda vein, which were discovered only a couple of months ago."
"These new vein discoveries carry higher gold grades, in some cases much higher gold grades, compared to other veins in the district. We now have three drill rigs working in Guanajuato to try and delineate the extents of our new finds, and we still have multiple drill targets yet to test. As a result of our recent exploration successes, management is considering a major mine and plant expansion for Guanajuato in 2011."
Barry Devlin, M.Sc., P. Geo., Vice President Exploration, is the Qualified Person who reviewed this news release and supervised the drilling program at Guanajuato. 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 Guanajuato 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 and lead, zinc and copper are determined by AA.
Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted five consecutive years of growing silver production and resources. The organic expansion programs now underway at Endeavour's two operating silver mines in Mexico combined with its strategic acquisition and exploration programs should help Endeavour achieve its goal to become the next premier mid-tier silver mining company.
