Endeavour Silver Expands Terronera ProjectBy Paloma Duran | Mon, 11/23/2020 - 11:28
Don't miss Bradford Cooke's participation as a speaker at Mexico Mining Forum 2021 on February 10-11. You can find the program and registration here!
Endeavour Silver Corp. has expanded its project Terronera in Jalisco to 20,128ha. The company acquired two groups of mineral concessions, La Sanguijela and Cerro Gordo, which cover multiple mineralized vein structures.
Bradford Cooke, Endeavour Silver CEO, said the two new acquisitions, besides expanding the property footprint at Terronera, add a strong resource potential that will increase the project’s value in drilling activities. Cooke said the company aims to increase the drilling budget for 2021 to take advantage of this high grade and low sulfidation epithermal vein system, reported Mining.com.
In an interview with MBN, Cooke said Mexico is fortunate to be rich in natural resources. He mentioned that the future is bright for potential discoveries, mine developments and growing production and that the country also has a well-developed infrastructure to facilitate new capital investments.
In an Endeavour Silver’s press release, the company said it has the option to purchase 2,759ha of La Sanguijuela concession that will cost US$550,000, which will need to be paid within the next four years. This concession covers the potential northwest extension of the Terronera vein and the possible western extension of the Los Reyes vein.
Endeavour said the Sanguijuela mapping and examination has identified five mineralized veins: Los Cuates, El Chacuaco, El Nogal, El Puerto and La Pastura, which are from the same volcanic sequence that can be found at the Terronera property. The main vein of the Sanguijuela concession is Los Cuates, which has a length of 1.5km and a thickness of 2-6m; its samples have returned values of .5-5 gpt gold and 50-300 gpt silver.
One of the main factors that will determine success is the identification of the bonanza zone, which is a sub-horizontal band of higher-grade mineralization that reflects the original boiling zone within these vein systems, said the press release.
In an interview with MBN, Godfrey Walton, President and COO of Endeavour Silver, said the company wants to embrace new technologies at Terronera because it is their first newly built mine that can be considered a model going forward. Endeavour Silver said the company is especially focusing on the concept of autonomous equipment, which has a huge cost benefit.
Moreover, Endeavour also acquired by staking 2,200ha of the Cerro Gordo concessions. These cover the possible extensions of four Terronera veins: Pena Gorda-Canoas, Los Venados-La Carbonera, Pena Blanca-El Alacran and El Mirador-Los Tablones. As well as other three veins: El Maguey-El Madrono, Monte Obscuro-Musgos and La Muda-Monte Grande reported the company.
El Maguey-El Madrono vein has a length of 1.6km with a thickness of 2-4m. The mapping and sampling of this vein returned values are .6 -2 gpt gold and 10-30 gpt silver. In addition, the Pena Gorda-Canoas vein returned values of .5 gpt gold and 40 gpt silver.
The company said that the vein structures of La Sanguijela and Cerro Gordo have never been drilled. Endeavour plans to drill Los Cuates, El Maguey, Terronera and other veins during 4Q2020.