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February 4, 2014
07:56 EDTEXKEndeavour Silver povides FY13 exploration results, FY14 plans
Endeavour Silver released a review of the company's exploration results in 2013 and its exploration plans for 2014. The company's exploration drilling programs in Mexico enjoyed continued success in 2013, highlighted by the discovery of two areas of high-grade, silver-gold vein mineralization at the Bolanitos and El Cubo mines respectively in Guanajuato State, and the extension of a thick, high-grade, silver-gold vein discovery within the Terronera vein on the San Sebastian property in Jalisco State. This year, Endeavour's focus will be on brownfields exploration around the three operating mines to replace reserves, expand resources and increase mine lives in the light of the current low precious metal prices. The company will also continue exploring the Terronera discovery at the San Sebastian property. Other green-fields exploration programs have been deferred until metal prices improve. This year, the company plans to spend $10.7M on exploration, including 54,000 m of drilling in about 120 holes to test multiple brownfields exploration targets in addition to the underground mine exploration infill drilling programs and excluding capitalized property costs. In December, 2013, we completed environmental studies and filed an application to permit the development of a new mine on the San Sebastian property. In 2014 we plan to conduct further exploration, engineering and economic studies of this prospective new find.
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