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Endeavour Silver Produces 1,059,322 oz Silver and 9,558 oz Gold (1.8 Million oz Silver Equivalents) in the Second Quarter, 2019
Silver production in the Second Quarter, 2019 was 1,059,322 ounces (oz) and gold production was 9,558 oz, resulting in silver equivalent production of 1.8 million oz at an 80:1 silver-gold ratio. The 22% lower silver production and 30% lower gold production compared to Q2, 2018 were due to the planned reduction of mine output at El Cubo and lower throughput and grades at Bolanitos, partly offset by higher production from Guanacevi and initial commercial production from El Compas.
Bradford Cooke, Endeavour CEO, commented, “After a challenging first quarter, we initiated multiple measures in the second quarter to improve the operating and financial performance at each mine. As a result, we saw increases in mine and plant throughput, silver and gold grades and recoveries at El Compas and both grades and recoveries at Guanacevi. We expect tonnes and grades at Guanacevi and grades at El Compas to continue to rise towards plan in Q3. El Cubo’s operating performance was in line with plan in Q2 and the mine is expected to continue on target in Q3. Bolanitos operated well below plan in Q2 however the measures implemented there should have a positive impact on its operating performance in H2, 2019.”
“During the second quarter, we reported positive drill results from our brownfields exploration programs at Guanacevi and Bolanitos and received the final tailings permit for the Terronera mine project. We plan to complete a final optimized prefeasibility study for Terronera in the third quarter and arrange appropriate financing to build Endeavour’s next core asset. A preliminary economic assessment and mine permitting are both underway for the Parral mine project, which is our largest exploration project in 2019.”