Endeavour Acquires Gold-Silver Prospect in Mexico
Vancouver, British Columbia, Canada - Endeavour Gold Corp. (EDR : TSX-V) announces that it has acquired an intriguing gold-silver prospect in Sinaloa, Mexico. The San Jose property (50 hectares) is well located for mining, being readily accessible by paved and gravel roads only a 30-minute drive from Culiacan, the state capital of Sinaloa.
The San Jose property covers an outcropping of mineralized, quartz-sericite breccia hosted by altered Palaeozoic phyllites near their regional contact with a Cretaceous granodiorite batholith. Gold and silver mineralization grading up to 22.5 gpt gold and 1,500 gpt silver in grab samples is associated with disseminated to semi-massive pyrargyrite (ruby silver), galena and arsenopyrite deposited in the breccia matrix, as well as along shears and fractures.
The San Jose prospect does not occur in any Mexican mineral database, government or otherwise, to our knowledge. Two old adits were located and sampled along the eastern contact of the breccia. Continuous chip sampling across the outcrop adjacent to and including the upper adit returned the following assays:
Width Gold Silver
(m) (gpt) (gpt)
18.6 1.09 59.3
0.5 10.1 142
1.5 4.98 81
2.0 3.44 169
2.8 0.99 109
A grab sample 50 m west of the upper adit returned 4.12 gpt gold and 140 gpt silver, confirming that the altered and mineralized breccia is at least 50 m wide. Another grab sample 50 m north (uphill) of the upper adit assayed 2.28 gpt gold and 154 gpt silver, showing that the mineralized zone is open to the north.
The lower adit (partially caved) is 20 m south of the upper adit and a 1.0 m chip sample returned 10.2 gpt gold and 633 gpt silver. Additional breccia zones were observed elsewhere in the area and will be sampled as part of the Phase 1 exploration program.
In addition to gold and silver, the breccias are consistently anomalous in arsenic, antimony, bismuth, copper, lead and zinc, suggesting that the mineralization is related to a buried intrusive body. An altered siliceous dike containing disseminated arsenopyrite next to the upper adit provides further evidence that the mineralization is intrusive-related.
The old-timers who drove the two adits were somewhat limited in what they could do with the prospect as the "ore" could not be crushed and panned for gold like oxide ores. Nowadays, such sulfide ores are normally concentrated in a flotation circuit prior to leaching or smelting to recover the gold and silver.
Two exploration targets are possible on the San Jose property. Firstly, the breccias appear to be sufficiently widespread to hold potential for a low grade, bulk tonnage, open pit target. Secondly, the sheared eastern contact zone holds narrower, higher grade, underground potential.
A Phase 1 exploration program of prospecting, mapping, bulldozer trenching, and chip sampling is recommended to evaluate the property and identify targets for a Phase 2 drilling program.
Endeavour holds an option to earn a 100% undivided interest in the San Jose property by paying US $300,000 to the Mexican owners over a 4 year period.
Endeavour Gold Corp. (EDR: TSX-V) is a recently re-organized junior exploration company focused on acquiring a portfolio of attractive gold-silver prospects in Mexico and discovering new precious metal deposits. Canarc Resource Corp. holds a minority shareholding in the Company and manages the affairs of Endeavour.
On Behalf of the Board of Directors
Bradford J. Cooke
For more information, please contact Gregg Wilson at tel: (604) 685-9700, fax: (604) 685-9744, email email@example.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.