Endeavour Acquires Navegantes Properties Near Parral District Chihuahua, Mexico

    VANCOUVER, Feb. 19 /CNW/ - Endeavour Silver Corp. (EDR: TSX, EXK: AMEX,
and EJD: Frankfurt) announces that it has acquired an option to purchase the
Navegantes silver properties, located approximately 80 km west of the city of
Hidalgo de Parral in Chihuahua State, Mexico.
    The five Navegantes properties (470 hectares) cover two historic silver
mines, Jorge and San Pedro, and a north to northeast-trending swarm of
mineralized quartz-barite veins that measures over 1.5 km in length. The
Navegantes mines were known for their "bonanza" grades and are described as
"significant past producers" by the Mexican Geological Service ("SGM") in
their Chihuahua monograph.
    Bradford Cooke, Chairman and CEO, commented, "We view the Navegantes
acquisition as an attractive opportunity to explore for and potentially
discover new high-grade silver deposits in the near-term as part of our Parral
Project. The Navegantes properties have never been explored or drilled by
modern methods. In 2007, Endeavour discovered a new polymetallic mineralized
zone on the El Cometa property at Parral on a similar, unexplored,
past-producing mine property and Endeavour staff feel that Navegantes also
holds excellent discovery potential."
    Navegantes is readily accessible by road, approximately a three and a
half hour drive west of Parral on Highway 24 and a gravel access road. The
properties are situated on sparsely vegetated, low rolling foot-hills of the
Sierra Madre. Local infrastructure is available in the nearby town of San
Pablo Balleza, including hotels, stores and an airstrip. Endeavour can acquire
a 100% interest in the Navegantes properties by making $470,000 in escalating
cash payments over a 2 year period.
    The historic mines were developed by three small production shafts (to
36 m in depth but old workings may go deeper) along two main mineralized veins
and multiple ancillary structures. The Pizzaro vein on which the San Pedro
shaft is located averages 1 to 3 m thick and can be traced by intermittent old
mine workings for more than 1.0 km. The Navegantes veins on which the Jorge
and Carmelitas shafts are located ranges from 2 to 5 m thick over a strike
length of 1.2 km and hosts the principal mine workings.
    The Navegantes veins and mines are hosted by rhyodacite tuffs of the
Tertiary Upper Volcanic Series. Since most of the silver-gold vein mines of
the Sierra Madre are hosted by andesitic flows and tuffs of the Tertiary Lower
Volcanic Series, Endeavour personnel foresee good potential for the Navegantes
silver mineralization to extend at depth into the underlying andesite volcanic
rock formations.
    In the vicinity of the productive mineralized zones, the volcanic
wallrocks display pronounced kaolinite clay alteration. Along strike at higher
elevation and approximately 1 km to the north lies a broad propyllitic
alteration zone with some veining that may be a higher level expression of
buried silver mineralization. Therefore, the veins also have exploration
potential along strike.
    Portions of the old mine workings are still accessible by the San Pedro,
Jorge and Carmelitas shafts. Chip sampling of remnant vein zones by Endeavour
geologists returned several significant silver assays. Sampled widths are
perpendicular to exposed veins in old workings, but because several samples
were taken from vein remnants underground, original vein widths were often
larger than the widths sampled.
    Some of the better sample results are as follows:

     Vein (shaft)   Sample (no.)   Width (m)   Silver (gpt)   Gold (gpt)

     San Pedro         RS235         0.85          420            0.3
                       RS236         1.00          500            0.3
                       RS237         1.00          889            0.4
                       RS385         1.10          534           0.06
                       RS386         1.00          296           0.03

     Jorge             RS402         1.20          523           0.06
                       RS404         1.25          255           0.15

     Carmelitas(*)     RS242         1.10          507           0.30
                       RS243         1.40          260           0.20
    (*) Represent two contiguous channel samples across a 2.5-metre wide

    Endeavour plans to commence shortly a Phase 1 drilling program of
approximately 1,800 m of core in about 15 drill holes at Navegantes.
    Barry Devlin, M.Sc., P.Geo., Vice President Exploration, is the Qualified
Person who reviewed this news release and supervised the surface and
underground sampling programs at Navegantes. A Quality Control sampling
program of blanks and duplicates was instituted to monitor the integrity of
all assay results. All chip samples were shipped to either the Guanacevi plant
lab or the SGS lab in Durango, 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 and lead, zinc and copper are
determined by AA.

    Endeavour Silver Corp. (EDR: TSX, EXK: AMEX, EJD: DBFrankfurt) is a
small-cap silver mining company focused on the growth of its silver
production, reserves and resources in Mexico. The expansion programs now
underway at Endeavour's two operating mines, Guanacevi in Durango and
Bolanitos in Guanajuato, coupled with the Company's aggressive acquisition and
exploration programs in Mexico should enable Endeavour to join the ranks of
top primary silver producers worldwide.


    /s/ "Bradford J. Cooke"

    Bradford J. Cooke
    Chairman and CEO

    Certain statements contained herein regarding the Company and its
operations constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995. All statements
that are not historical facts, including without limitation statements
regarding future estimates, plans, objectives, assumptions or expectations of
future performance, are "forward-looking statements". We caution you that such
"forward looking statements" involve known and unknown risks and uncertainties
that could cause actual results and future events to differ materially from
those anticipated in such statements. Such risks and uncertainties include
fluctuations in precious metal prices, unpredictable results of exploration
activities, uncertainties inherent in the estimation of mineral reserves and
resources, fluctuations in the costs of goods and services, problems
associated with exploration and mining operations, changes in legal, social or
political conditions in the jurisdictions where the Company operates, lack of
appropriate funding and other risk factors, as discussed in the Company's
filings with Canadian and American Securities regulatory agencies. Resource
and production goals and forecasts may be based on data insufficient to
support them. Godfrey Walton, M.Sc., P.Geo., President and COO is the
Qualified Person for the Company as required by NI 43-101. The Company
expressly disclaims any obligation to update any forward-looking statements.
We seek safe harbour.

    %SEDAR: 00018368E          %CIK: 0001277866

For further information:

For further information: Hugh Clarke, Toll free: (877) 685-9775, tel:
(604) 685-9775, fax: (604) 685-9744, email investorrelations@edrsilver.com or
visit our website, www.edrsilver.com.

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890