| 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) |
| Proven |
| Guanaceví |
82,000 |
224 |
0.49 |
261 |
591,000 |
1,300 |
688,500 |
| Bolañitos |
154,000 |
87 |
2.48 |
273 |
431,000 |
12,300 |
1,353,500 |
| El Cubo |
171,000 |
184 |
1.80 |
319 |
1,010,000 |
9,900 |
1,752,500 |
| Total Proven |
407,000 |
155 |
1.80 |
290 |
2,032,000 |
23,500 |
3,794,500 |
| Probable |
| Guanaceví |
224,000 |
252 |
0.58 |
296 |
1,812,000 |
4,200 |
2,127,000 |
| Bolañitos |
258,000 |
86 |
1.87 |
226 |
714,000 |
15,500 |
1,876,500 |
| El Cubo |
317,000 |
186 |
1.68 |
312 |
1,894,000 |
17,100 |
3,176,500 |
| Terronera |
4,061,000 |
207 |
1.95 |
353 |
27,027,000 |
255,000 |
46,152,000 |
| Total Probable |
4,860,000 |
201 |
1.87 |
341 |
31,447,000 |
291,800 |
53,332,000 |
| Total P+P |
5,267,000 |
198 |
1.86 |
337 |
33,479,400 |
315,300 |
57,126,500 |
| 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) |
| Measured |
| Guanaceví |
17,000 |
299 |
0.38 |
328 |
167,000 |
200 |
182,000 |
| Bolañitos |
31,000 |
118 |
2.28 |
289 |
118,000 |
2,300 |
290,500 |
| El Cubo |
207,000 |
184 |
2.90 |
402 |
1,225,000 |
19,300 |
2,672,500 |
| Total Measured |
255,000 |
184 |
2.66 |
384 |
1,510,000 |
21,800 |
3,145,000 |
| Indicated |
| Guanaceví |
1,650,000 |
310 |
0.80 |
370 |
16,449,000 |
42,400 |
19,629,000 |
| Bolañitos |
763,000 |
152 |
1.84 |
290 |
3,727,000 |
45,100 |
7,109,500 |
| El Cubo |
404,000 |
165 |
1.98 |
314 |
2,143,000 |
25,700 |
4,070,500 |
| El Compas |
148,000 |
104 |
7.31 |
652 |
495,000 |
34,900 |
3,112,500 |
| Guadalupe y Calvo |
1,861,000 |
119 |
2.38 |
298 |
7,120,000 |
142,400 |
17,800,000 |
| Parral (new) |
37,000 |
184 |
0.27 |
204 |
216,000 |
300 |
238,500 |
| Total Indicated |
4,863,000 |
193 |
1.86 |
332 |
30,150,000 |
290,800 |
51,960,000 |
| Total M&I |
5,118,000 |
192 |
1.90 |
335 |
31,660,000 |
312,600 |
55,105,000 |
| Silver-Gold Inferred Mineral Resources |
|
Tonnes |
Ag (g/t) |
Au (g/t) |
Ag Eq (g/t) |
Ag (oz) |
Au (oz) |
Ag Eq (oz) |
| Inferred |
| Guanaceví |
761,000 |
314 |
0.78 |
373 |
7,684,000 |
19,100 |
9,116,500 |
| Bolañitos |
945,000 |
150 |
1.95 |
296 |
4,556,000 |
59,200 |
8,996,000 |
| El Cubo |
1,100,000 |
143 |
2.07 |
298 |
5,058,000 |
73,200 |
10,548,000 |
| Terronera |
1,174,000 |
288 |
1.16 |
375 |
10,848,000 |
43,700 |
14,125,500 |
| El Compas |
217,000 |
76 |
5.38 |
480 |
530,000 |
37,500 |
3,342,500 |
| Guadalupe y Calvo |
154,000 |
94 |
2.14 |
255 |
465,000 |
10,600 |
1,260,000 |
| Parral (new) |
2,283,000 |
262 |
0.25 |
281 |
19,215,000 |
18,100 |
20,572,500 |
| Total Inferred |
6,634,000 |
227 |
1.23 |
319 |
48,356,000 |
261,400 |
67,961,000 |
| Silver-Gold-Lead-Zinc Mineral Resources |
|
Tonnes |
Ag (g/t) |
Au (g/t) |
Ag Eq (g/t)⁽¹⁾ |
Ag (oz) |
Au (oz) |
Ag Eq (oz)⁽¹⁾ |
Pb% |
Zn% |
| Indicated |
| Guanaceví |
363,000 |
208 |
0.26 |
302 |
2,420,500 |
3,100 |
2,653,000 |
0.78 |
1.32 |
| Parral (Cometa) |
1,631,000 |
49 |
0.90 |
117 |
2,589,900 |
47,200 |
6,129,900 |
2.87 |
2.86 |
| Total Indicated |
1,994,000 |
78 |
0.78 |
151 |
5,010,400 |
50,300 |
8,782,900 |
2.49 |
2.58 |
| Inferred |
| Guanacevi |
488,000 |
132 |
0.16 |
293 |
2,076,000 |
2,500 |
2,263,500 |
1.36 |
2.54 |
| Parral (Cometa) |
1,303,000 |
63 |
0.88 |
129 |
2,658,900 |
36,900 |
5,426,400 |
2.55 |
2.28 |
| Total Inferred |
1,791,000 |
82 |
0.68 |
174 |
4,734,900 |
39,400 |
7,689,900 |
2.23 |
2.35 |
- 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 estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- 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.
- Mineral Resource and Mineral Reserve cut-off grades are based on a 202 g/t silver equivalent for Guanaceví, 158 g/t silver equivalent for Bolañitos, 152 g/t silver equivalent for Villalpando Ascuncion ore zone of El Cubo and 218 g/t silver equivalent for Santa Cecilia ore zone of El Cubo, and 150 g/t silver equivalent for Terronera, El Compas, Guadalupe y Calvo and Parral Properties.
- Metallurgical recoveries were 83.0% silver and 85.0% gold for Guanaceví, 84.3% silver and 87.7% gold for Bolañitos, and 87.0% silver and 86.7% gold for El Cubo.
- Mining recoveries of 92% were applied 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 26% for Guanaceví, 28% for Bolañitos, and 35% for El Cubo. Dilution factors are calculated based on internal stope dilution calculations and external dilution factors of 15% for cut and fill mining and 30% for long hole mining at Guanaceví, 28% and Bolañitos and 54% for long mining at El Cubo.
- Silver equivalent grades are based on a 75:1 silver:gold ratio and calculated including only silver and gold.
- Inferred Mineral Resources for Terronera includes the Terronera and Real Alto Area (Animas-Los Negros, El Tajo & Real veins).
- The La Colorada structure (Parral) does not contain gold on an economic scale.
- Price assumptions for Guanaceví, Bolañitos and El Cubo are US$17.26/oz for silver, US$1,232/oz for gold, US$0.82/lb for lead and US$0.90/lb for zinc.
- Price assumptions for Terronera are US$18/oz for silver, US$1,250/oz for gold.
- Price assumptions for El Compas are US$18/oz for silver, US$1,225/oz for gold.
- Figures in the tables are rounded to reflect estimate precision; small differences generated by rounding are not material to the estimates.
Godfrey Walton, M.Sc., P.Geo., President and COO of Endeavour, is the Qualified Person who reviewed and approved 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 Resource Estimates for Terronera, El Compas and Parral were undertaken by Independent Qualified Persons Eugene Puritch, P.Eng., FEC, CET, Yungang Wu, P.Geo., and David Burga, P.Geo of P&E Mining Consultants Inc. Mr. Puritch has reviewed and approved the technical content of this press release with respect to the Terronera vein area, El Compas and new Parral.
The Cometa property in Parral which is part of the Lead-Zinc portion of the table is based on a Technical report titled NI 43-101 Technical Report audit of the Mineral Resource Estimate for the Parral Project, Chuhuahua State, Mexico and filed Dec 15, 2010 and authored by William Lewis, B.Sc., Charley Z. Murahwi M.Sc. MAusIMM and Dibya Kanti Mukhopadhyay M.Sc. MAusIMM. This report is separate from the Parral Properties described by P&E Mining Consultants Inc.
The resources on the veins (Animas-Negros, Tajo and Real) from the Terronera property were estimated as part of a 43-101 report authored by Michael J. Munroe dated March 27th 2014 and titled NI 43-101 Technical Report audit of the Mineral Resource estimate for the San Sebastian Project, Jalisco State, Mexico. The San Sebastian project was renamed the Terronera project.
A Technical Report prepared in accordance with NI 43-101 for the Parral Properties will be completed and filed on SEDAR in March 2018.