VANCOUVER, BC–(Marketwired – March 27, 2017) – Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) reports its initial NI43-101 Mineral Resource Estimate and a Preliminary Economic Assessment (“PEA”) for its El Compas mine project located adjacent to the city of Zacatecas in Zacatecas state, Mexico. The PEA will be filed on SEDAR and EDGAR within 45 days of this news release.
The Mineral Resource is small but shallow and high grade and the PEA provides robust economic returns. As a result, management has made a production decision to develop the new El Compas mine, subject to receiving an explosives permit and receiving further clarity from the Zacatecas government regarding an exemption from the new Zacatecas state environmental tax.
Endeavour’s decision to place the El Compas mine into production is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and the Company cautions that historically such projects have a much higher risk of economic or technical failure. Management proposes to proceed with mine development because it has successfully developed similar mines in Mexico, the total capital required is low and Endeavour has the in-house experience to build and operate such a mine.