Endeavour improved by 7% YoY
5.5mn
oz Silver and 52967oz gold
Produced
by Endeavour in 2018
Endeavour
Silver Corporation reports 2018 consolidated production of 5.5 million ounces
(oz) silver and 52,967 oz gold, for silver equivalent production of 9.5 million
oz at 75:1 silver: gold ratio. Silver production in the Fourth Quarter, 2018
was 1,386,505 oz and gold production was 13,117 oz, for silver equivalent
production of 2.4 million oz.
Endeavour
owns and operates three silver mines in Mexico, the Guanaceví mine in Durango
State and the Bolañitos and El Cubo mines in Guanajuato state. Production from the three mines was higher in
2018 compared to 2017 but fell short of the Company’s 2018 production guidance.
The
7% improved production performance in 2018 compared to 2017 was due to higher
mine output, silver and gold grades and recoveries at the El Cubo mine. The 7% production shortfall in 2018 compared
to guidance was due to lower mine output and silver grades at Guanaceví, lower
gold grades at Bolañitos and delays in achieving commercial production at El
Compas.
Bradford
Cooke, CEO, commented, "All in all, 2018 was quite a transition year for
Endeavour Silver. We saw improved
performance from El Cubo, but declining performance at Bolañitos, where new
mineralized zones were discovered and at Guanaceví, where two new ore bodies
are being developed.
The
new El Compas mine completed its initial mine development but plant
commissioning issues have delayed production. In October, Nick Shakesby was
appointed new VP Operations to help make a positive difference in our mining
operations. We also appointed Manuel Echevarria in May as VP New Projects to
oversee the engineering and development of our new mines.”
“In
2019, we anticipate improving the performance of the Guanaceví and Bolañitos
mines, making the most of our declining reserves at the El Cubo mine,
delivering our first year of commercial production at El Compas and upon
receiving a positive board decision, commencing the development of our fifth
mine at Terronera.”
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