Re: Canamex To Sell Bruner To Endeavour Silver - PGOL Owns 2% NSR On The Project
in response toby
Emerging Gold Royalty Company
Here's the news release from Endeavour Silver and their take on the Bruner project. I believe they can prove up at least a million ounces over the next 2-3 years.
Endeavour completes acquisition of Bruner property
2021-09-01 07:30 ET - News Release
Mr. Dan Dickson reports
ENDEAVOUR SILVER COMPLETES ACQUISITION OFA BRUNER GOLD PROJECT IN NYE COUNTY, NEVADA
Endeavour Silver Corp. has completed the acquisition of the Bruner property, located in Nye county, Nevada, from Canamex Gold Corp. (see news release dated July 19, 2021). Endeavour paid $10-million (U.S.) in cash for 100 per cent of the Bruner gold project, which includes mineral claims, mining rights, property assets, water rights, and government authorizations and permits.
The Bruner gold project is an exploration- and development-stage project located approximately 180 kilometres southeast of Reno, Nev. Gold was originally discovered in the district in 1906 and saw intermittent historic mining between 1906 and 1998. Recent exploration activities by previous operators included mapping, drilling, geophysical surveys and sampling, culminating in a mineral resource estimate in 2015 and a preliminary economic assessment in 2017 outlining a low capital cost, open pit, heap leach operation.
A historic resource estimate of 342,000 ounces of gold contained in 17.5 million tonnes grading 0.61 gram per tonne in three zones, Paymaster, HRA and Penelas, was prepared for Canamex in a technical report dated Jan. 22, 2018, titled "NI 43-101 Technical Report on the Bruner Gold Project, Updated Preliminary Economic Assessment, Nye County, Nevada, USA" by Welsh Hagen Associates. A qualified person has not done sufficient work for Endeavour to classify the historical estimate as a current mineral resource or mineral reserve. Endeavour is not treating the historical estimate as a current mineral resource or mineral reserve, has not verified the historical resource estimate and is not relying on it. Endeavour plans to twin certain drill holes and conduct a drilling program to upgrade the historical estimate as a current mineral resource. Activities in Q4 2021 will focus on surface work and data compilation, and, in 2022, Endeavour anticipates recommencing exploration work on high-priority targets.
Endeavour chief executive officer Dan Dickson commented: "We are pleased to add an advanced precious metals property to our project pipeline. Bruner should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production and organic growth.
"We will provide a formal market update in our 2022 annual guidance on our exploration plans for the Bruner project. Our exploration team will focus initially on verifying the historic resources, then turn its attention to the many exploration targets on the Bruner property. We look forward to unlocking the full potential of the Bruner property with the goal of building a new mining operation in another historic mining district in Nevada.
"In the short term, our attention is on the Terronera project, as we are nearing the completion of the feasibility study and we look forward to releasing the results."
Dale Mah, BSc, PGeo, Endeavour's vice president of corporate development, is the qualified person who reviewed and approved this news release.
About Endeavour Silver Corp.
Endeavour Silver is a mid-tier precious metals mining company that owns and operates three high-grade, underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project toward a development decision, and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. The company's philosophy of corporate social integrity creates value for all stakeholders.
We seek Safe Harbor.