| Silver-Gold Proven and Probable Mineral Reserves |
|
Tonnes |
Ag (g/t) |
Au (g/t) |
Ag Eq (g/t) |
Ag (oz) |
Au (oz) |
Ag Eq (oz) |
| Guanaceví |
141,000 |
319 |
0.82 |
385 |
1,445,000 |
3,700 |
1,742,000 |
| Bolañitos |
76,000 |
34 |
2.62 |
243 |
83,000 |
6,400 |
596,000 |
| El Compas |
10,000 |
53 |
3.30 |
317 |
17,000 |
1,100 |
103,000 |
| Total Proven |
227,000 |
212 |
1.53 |
334 |
1,546,000 |
11,200 |
2,441,000 |
| Guanaceví |
948,000 |
346 |
0.95 |
422 |
10,554,000 |
28,800 |
12,859,000 |
| Bolañitos |
237,000 |
53 |
2.51 |
254 |
405,000 |
19,100 |
1,930,000 |
| El Compas |
19,000 |
95 |
4.63 |
466 |
57,000 |
2,800 |
279,000 |
| Terronera |
5,563,000 |
201 |
2.29 |
380 |
36,013,000 |
410,000
|
68,813,000 |
| Total Probable |
6,766,000 |
216 |
2.12 |
382 |
47,029,000 |
460,700 |
83,882,000 |
| Total P+P |
6,994,000 |
216
|
2.10 |
380 |
48,574,000 |
471,900 |
86,323,000 |
| Silver-Gold Measured and Indicated Mineral Resources |
|
Tonnes |
Ag (g/t) |
Au (g/t) |
Ag Eq (g/t) |
Ag (oz) |
Au (oz) |
Ag Eq (oz) |
| Guanaceví |
95,000 |
405 |
0.88 |
475 |
1,240,000 |
2,700 |
1,456,000 |
| Bolañitos |
35,000 |
76 |
2.37 |
265 |
85,000 |
2,600 |
296,000 |
| El Cubo |
19,000 |
224 |
1.89 |
375 |
140,000 |
1,200 |
235,000 |
| Total Measured |
150,000 |
305 |
1.36 |
413 |
1,465,000 |
6,500 |
1,987,000 |
| Guanaceví |
566,000 |
363 |
0.82 |
428 |
6,603,000 |
14,900 |
7,797,000 |
| Bolañitos |
433,000 |
166 |
2.27 |
347 |
2,314,000 |
31,600 |
4,840,000 |
| El Cubo |
32,000 |
209 |
2.03 |
371 |
214,000 |
2,100 |
380,000 |
| El Compas |
21,000 |
75 |
6.22 |
573 |
50,000 |
4,100 |
381,000 |
| Guadalupe y Calvo |
1,861,000 |
119 |
2.38 |
309 |
7,120,000 |
142,400 |
18,512,000 |
| Parral |
433,000 |
271 |
- |
271 |
3,700,000 |
- |
3,700,000 |
| Total Indicated |
3,346,000 |
187 |
1.81 |
332 |
20,001,000 |
195,100 |
35,610,000 |
| Total M&I |
3,496,000 |
192 |
1.79 |
335 |
21,466,000 |
201,600 |
37,597,000 |
| Silver-Gold Inferred Mineral Resources |
|
Tonnes |
Ag (g/t) |
Au (g/t) |
Ag Eq (g/t) |
Ag (oz) |
Au (oz) |
Ag Eq (oz) |
| Guanaceví |
866,000 |
495 |
1.18 |
589 |
13,765,000 |
32,700 |
16,384,000 |
| Bolañitos |
625,000 |
120 |
2.52 |
322 |
2,411,000 |
50,700 |
6,470,000 |
| El Cubo |
463,000 |
163 |
1.89 |
314 |
2,419,000 |
28,200 |
4,672,000 |
| El Compas |
39,000 |
85 |
7.00 |
607 |
106,000 |
8,100 |
758,000 |
| Terronera |
1,080,000 |
208 |
2.26 |
389 |
7,239,000 |
79,000 |
13,559,000 |
| Guadalupe y Calvo |
154,000 |
94 |
2.14 |
265 |
465,000 |
10,600 |
1,313,000 |
| Parral |
3,180,000 |
322 |
0.21 |
339 |
32,900,000 |
21,900 |
34,677,000 |
| Total Inferred |
6,407,000 |
288 |
1.12 |
378 |
59,306,000 |
231,300 |
77,833,000 |
| Silver-Gold-Lead-Zinc Mineral Resources |
|
Tonnes |
Ag (g/t) |
Au (g/t) |
Ag (oz) |
Au (oz) |
Pb% |
Zn% |
Cu% |
Ag Eq (oz) |
| Guanaceví |
363,000 |
208 |
0.26 |
2,421,000 |
3,100 |
0.78 |
1.32 |
- |
2,670,000 |
| Parral (Cometa) |
180,000 |
55 |
1.17 |
320,000 |
6,800 |
3.20 |
3.30 |
- |
860,000 |
| Calicanto (new) |
360,000 |
146 |
0.97 |
1,690,000 |
11,000 |
3.19 |
4.17 |
0.11 |
2,600,000 |
| Total Indicated |
903,000 |
153 |
0.73 |
4,431,500 |
20,900 |
2.23 |
2.85 |
0.04 |
6,130,000 |
| Guanacevi |
488,000 |
132 |
0.16 |
2,076,000 |
2,500 |
1.36 |
2.54 |
- |
2,272,000 |
| Parral (Cometa) |
880,000 |
74 |
1.45 |
2,100,000 |
41,000 |
3.27 |
3.24 |
- |
5,376,000 |
| Calicanto (new) |
268,000 |
111 |
1.01 |
960,000 |
9,000 |
2.65 |
3.73 |
0.09 |
1,650,000 |
| Total Inferred |
1,636,000 |
97 |
0.99 |
5,136,000 |
52,500 |
2.59 |
3.11 |
0.02 |
9,298,000 |
Notes:
- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no
certainty that any or all part of the Mineral Resources will be converted into Mineral Reserves.
- The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an
Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that
the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with
continued exploration.
- The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy
and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by
the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
- Mineral Resources are exclusive of and in addition to Mineral Reserves.
- Guanacevi Mineral Resource and Mineral Reserve cut-off grades are based on a 225 g/t silver equivalent for
Santa Cruz Sur of Guanacevi and 222 g/t silver equivalent for Santa Cruz, 237 g/t silver equivalent for
Milache and 280 g/t silver equivalent for Ocampo and Porvenir Norte of Guanaceví; Metallurgical recoveries
were 84.6% silver and 85.7% gold for Guanaceví. The cutoff grade applied for resource calculation at the
regional polymetallic projects at Guanacevi (Noche Buena and Buena Fe) is 200g/t silver equivalent. The
silver equivalent is based on the calculated NSR for each element based on the following price assumptions
US$16.29/oz for silver, US$1,195/oz for gold, US$0.82/lb for lead and US$0.90/lb for zinc.
- Bolañitos, Mineral Resource and Mineral Reserve cut-off grades are based on 181 g/t silver equivalent for
Lucero Ramp, Belen and Veta Madre, 173 g/t silver equivalent for La Luz Ramp and 181 g/t silver equivalent
for San Miguel ramp area. Metallurgical recoveries were 84.7% silver and 88.9% gold for Bolañitos
- El Cubo Mineral Resource and Mineral Reserve cut-off grades are based on a 202 g/t silver equivalent for
Area II (that comprises Dolores Mine) of El Cubo and 223 g/t silver equivalent for Areas I&IV (that
comprise Santa Cecilia and San Nicolas Mines) of El Cubo. Metallurgical recoveries were 87.0% silver and
86.7% gold for El Cubo.
- El Compas Mineral Resource and Mineral Reserve cut-off grades are based on a 3.67 g/t gold equivalent.
Metallurgical recoveries were 67.0% silver and 82.0% gold for El Compas
- Mineral Resource cut-off grades for Terronera was 150 g/t silver equivalent and the Mineral Reserve cut-off
grades for Terronera and La Luz Deposits were 160 g/t and 216 g/t silver equivalent respectively.
- Mineral Resource and Mineral Reserve cut-off grades are based on a 100 g/t silver equivalent for Guadalupe y
Calvo.
- Parral Mineral Resources are estimated at a cut-off grade of 130 g/t AgEq for Palmilla, Veta Colorada, and
San Patricio, 200 g/t Ag for Sierra Plata, and an NSR cut-off value of US$55/t for El Cometa. The NSR and
AgEq values are based on estimated metallurgical recoveries, assumed metal prices and smelter terms, which
include payable factors, treatment charges, penalties, and refining charges. Metal price assumptions were:
US$17/oz Ag, US$1,275/oz Au, US$1.15/lb Zn, and US$1.00/lb Pb. A minimum mining width of 1.5 m was used for
Sierra Plata, and 1.75 m for all other veins.
- Calicanto Mineral Resources are estimated at a cut-off value of US$200 VIT (value in-situ) for Calicanto,
Santa Fe and Misie veins areas. The VIT values are based on metal price assumptions of US$23.98/oz Ag,
US$1,815/oz Au, US$3.5/lb Cu, US$0.94/lb Pb, and US$1.25/lb Zn. A minimum mining width of 1.0 m was used.
- Mining recoveries of 93% were applied for Guanaceví, Bolañitos and El Compas, 88% for El Cubo and 95% for
Terronera for Mineral Reserve Estimate calculations. Minimum mining widths were 0.8 metres for Mineral
Reserve Estimate calculations.
- Dilution factors for Mineral Reserve Estimate calculations averaged 34.7% for Guanaceví, 34% for Bolañitos
and 35.7% for El Compas, and 10% for Terronera. For current operations dilution factors are based on vein
width diluted to width of drive for lateral sill preparation (generally >30%) and internal stope dilution
calculations and external dilution factors of 15% for cut and fill mining and 30% for long hole mining.
- Silver equivalent grades and ounces are based on a 80:1 silver:gold ratio and calculated including only
silver and gold.
- Probable Mineral Reserves for Terronera includes the Terronera and La Luz Deposits.
- Inferred Mineral Resources for Terronera includes the Terronera, La Luz and Real Alto Area.
- Indicated and Inferred Silver-Gold Mineral Resources for "Parral" includes the Colorada, Palmilla and San
Patricio areas.
- The Veta Colorada structure (Parral) does not contain gold on an economic scale.
- Price assumptions for Guanaceví, Bolañitos, El Cubo and El Compas are US$16.51/oz for silver, US$1,465/oz
for gold.
- Price assumptions for Terronera are US$17/oz for silver, US$1,275/oz for gold.
- Price assumptions for Parral are US$15/oz for silver, US$1,275/oz for gold.
- Figures in tables are rounded to reflect estimate precision; small differences generated by rounding are not
material to the estimates.
Dale Mah, P.Geo., Vice President Corporate Development of Endeavour, is the Qualified Person who reviewed and
approved this news release and the technical information contained in these Mineral Reserve and Resource Estimates.
A Quality Control sampling program of reference standards, blanks and duplicates has been instituted to monitor the
integrity of all assay results. All samples are split at the local field office and shipped to ALS-Chemex Labs,
where they are dried, crushed, split and 50 gram pulp samples are prepared for analysis. Gold and silver are
determined by fire assay with an atomic absorption (AA) finish.
The Mineral Reserve Estimate for Terronera in the technical report titled “Endeavour Silver Corp, Terronera
Project, Jalisco State, Mexico” effective July 31, 2020 were undertaken by Independent Qualified Persons from
Ausenco Engineering Canada Inc - Robin Kalanchey, P.Eng., P&E Mining Consulting - Eugene Puritch, P.Eng. FEC.
CET, David Burga P.Geo., Yungang Wu, P.Geo., D. Gregory Robinson P. Eng., Wood Engineering - Humberto Preciado,
P.E., Eugenio Iasillo P.E., JDS Mining - Mike Levy P.E., P.Eng., Moose Mountain – Mike Petrina P.Eng..
The Parral Mineral Resources disclosed in this press release have been estimated by Mr. Jose Texidor Carlsson,
P.Geo., an employee of Roscoe Postle Associates (RPA) and independent of Endeavour. By virtue of his education and
relevant experience, Mr. Texidor Carlsson is a “Qualified Person” for the purpose of National Instrument 43-101. The
Mineral Resources have been classified in accordance with CIM Definition Standards for Mineral Resources and Mineral
Reserves (May 2014). Mr. Texidor Carlsson, P.Geo. has read and approved the contents of this press release as it
pertains to the disclosed Parral Mineral Resource estimates.