Endeavour Silver Corp NYSE: [stock symbol=“EXK”] recently announced that El Compas property and Terronera property based exploration drill programs discovered gold and silver mineralized zones on each properties. El Compas property & Terronera property are situated at in Zacatecas State & Jalisco State, Mexico, respectively.
The gold and silver zones at each property are in the limit of identified epithermal quartz veins. Both the properties, reportedly offer high grade minerals. The company is, at present, going on with two economic studies, viz. pre-feasibility study (PFS) and preliminary economic assessment (PEA) for Terronera and El Compas property, respectively. The company aims to leverage th development projects into the production phase.
El Compas property resources
Endeavour Silver Corp announced that El Compas’ has two veins, namely, El Compas and El Orito, which have been explored already. Both these veins are sources of high quality, but small amounts of historic resources, as reported by the previous owner of the property. The company is yet to verify the resources and their historic connection.
Endeavour Silver Corp said that it had drilled in Ana Camila vein, at about 550 metres from El Orito. It found that the mineralized zone with high grade resources was spread over 250 m in length and 100 m in depth.
Terronera property resources
The high grade mineralized zone of resources was also found at the Terronera property in La Luz vein. It is situated at 2,200 m from Terronera vein. This resource stretches at 300 m in length and 250 m in depth.
The company gave its drilling highlights at both the properties in the official statement. The Exploration Vice President of company, Luis Castro said that the drill results have been positive and that both the sites had enormous exploration potential. There are prospects of finding new mineralized zones along with new veins. The company said that the drill programmes shall break at the middle of this month for Christmas. The drilling would begin again in January 2017 after they receive the final assays in 2016.