Endeavour Silver (TSX: T.EDR, Stock Forum) Tuesday announced exploration drill results from its Bolanitos Mine in Guanajuato State, Mexico, which included 155 grams per tonne (g/t) silver and 2.00 g/t gold over 5.88 metres true width.
The company added that these results extend the known mineralized zone in the Lana vein to more than 750 meters long, which it claims is still open for expansion.
"An initial resource estimate will be prepared at year-end so that the Lana vein can be brought into the 2013 mine plan for the Lucero-Karina-Fernanda-Daniela area. However, given the Lana vein proximity to the east of the Daniela vein, a crosscut tunnel was started in Q2, 2012 from the Daniela mine workings in order to fast-track mine access to the Lana vein. The crosscut tunnel should intersect the Lana vein this month, thereby facilitating mine development this year and production starting next year. Two drill rigs continue to work in the Bolanitos Mine area, testing other attractive drill targets such as Asuncion and Belen in the La Luz sub-district," said Endeavour Silver CEO Bradford Cooke in a statement.