Vancouver, Canada – April 3, 2017 – Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) reports updated NI43-101 Mineral Resource and Reserve Estimates and a Pre-Feasibility Study (“PFS”) for its Terronera mine project located 40 kilometres northeast of Puerto Vallarta in the state of Jalisco, Mexico. The PFS will be filed on SEDAR and EDGAR within 45 days of this news release.
The Mineral Resources and Reserves have increased significantly since the Preliminary Economic Assessment was completed in 2015, as outlined below. The main mineralized zone constitutes a shallow, steeply dipping, thick, high-grade portion of the Terronera vein, the development of which should generate reasonably robust economic returns according to the PFS.
Subject to receiving the remaining government mine permits (the MIA or environmental impact statement has already been approved), arranging an appropriate debt financing, and completing certain optimization work on the PFS, management intends to seek approval from the Company’s board of directors to commence development of the Terronera mine and related facilities.
Any decision to advance the Terronera mine into production will be based on the PFS rather than a full Feasibility Study, hence the Company cautions that historically, such projects can have a higher risk of economic or technical failure. The characteristics of the Terronera project are similar to the Company’s other operating mines in Mexico, and management is confident it has sufficient information, experience and expertise to build and operate such a mine.