- Proven and probable silver mineral reserves decreased 7% to 43.9 million ounces
- Measured and Indicated silver mineral resources increased 6% to 29 million oz
- Inferred silver mineral resources increased 4% to 60.7 million oz
- Shares were up CAD$0.01 (0.3731%) and trading at CAD$2.69. Its market capitalization is CAD$376.3 million.
Silver-gold miner Endeavor Silver has updated the market on the mineral resources estimates at its Mexican projects following successful 2019 exploration programs.
CEO Bradford Cooke said results outlined “new brownfields discoveries at three of our mines and projects in Mexico (and) expanded the measured and indicated resources at Guanacevi and Parral, and increased inferred resources at Guanacevi, Bolanitos and Parral,”
“Resources increased significantly at Guanacevi due to our lease acquisition and successful exploration of the El Porvenir and El Curso properties, which adjoin two of our historic orebodies – Porvenir Norte and Porvenir Cuatro,” he said.
“Bolanitos benefited from the delineation of the San Miguel discovery and Parral was our largest exploration expenditure in 2019 where we expanded the resources at the Sierra Plata and La Verde mines along the Veta Colorada vein system,”
Cooke said the company this year will focus on replacing reserves at each mine and expanding resources at Parral and other greenfield projects.
“At Terronera, we have turned our attention from resource expansion to mine development as it has the potential to become our largest and lowest cost mine,” he said.
In particular, proven and probable silver mineral reserves decreased 7% to 43.9 million ounces; proven and probable gold mineral reserves remained unchanged at 477,000 oz; and equivalent proven and probable silver mineral reserves were 82 million oz.
Measured and Indicated silver mineral resources increased 6% to 29 million oz; measured and indicated gold mineral resources decreased 22% to 226,500oz; equivalent measured and indicated gold mineral reserves were 47.1 million oz.
Inferred silver mineral resources increased 4% to 60.7 million oz; inferred gold mineral resources decreased 11% to 287,000 oz; and equivalent inferred silver mineral resources were 83.7 million oz.
At the time of writing Endeavor Silver shares were up CAD$0.01 (0.3731%) and trading at CAD$2.69. It has a market capitalization of CAD$376.3 million.