Vancouver, Canada – July 12, 2017 – Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports its production results for the Second Quarter, 2017 from the Company’s three silver-gold mines in Mexico: the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato State. Silver production in the Second Quarter, 2017 was 1,143,788 ounces (oz) and gold production was 13,057 oz resulting in silver equivalent production of 2.1 million oz using a 70:1 silver gold ratio.
Production was lower in Q2, 2017 compared to Q2, 2016 due to differences in the annual mine plans. Last year (2016), production was highest in Q1 and lowest in Q4 due to the decision at low metal prices in January 2016 to cut spending on exploration and development at all three mines, which reduced mine access to reserves and therefore reduced metal production.
In 2017, production was higher in Q2 compared to Q1 due to improved performance of the Bolañitos and El Cubo mines. This year, consolidated production should rise from Q1 to Q4 with increased access to reserves due to increased spending on exploration and development at all three mines.
Production Highlights for Second Quarter, 2017 (Compared to Second Quarter, 2016)
- Silver production decreased 26% to 1,143,788 oz
- Gold production decreased 17% to 13,058 oz
- Silver equivalent production was 2.1 million oz (at a 70:1 silver: gold ratio)
- Silver oz sold down 34% to 988,821 oz
- Gold oz sold down 20% to 12,294 oz
- Bullion inventory at quarter-end included 226,437 oz silver and 631 oz gold
- Concentrate inventory at quarter-end included 50,644 oz silver and 890 oz gold