|October 17, 2011|
Endeavour Mining Reports Positive Drilling Results at Ouare Including 1.8 g/t Over 46m
George Town, Grand Cayman, October 17, 2011 - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV) is pleased to report positive results from the ongoing reverse-circulation (RC) exploration and infill programs at its Ouaré gold deposit located 40km northeast of the Youga Gold Mine in Burkina Faso, West Africa. Drill intercepts from Ouaré West exploration included BITRC-11-342 with 11 metres (m) of 4.3 grams per tonne (g/t) gold and included 2m of 18.7 g/t gold. Drill results from Ouaré Main infill program included, BITRC-11-280 with 46m of 1.8 g/t gold and included 1m of 11.8 g/t gold and BITRC-11-283 with 19m of 3.2 g/t gold, including 1m of 17.6 g/t gold.
Neil Woodyer, CEO, comments, "We continue to be very encouraged by the results at Ouaré, particularly regarding the lengths of the mineralized intercepts which are suggestive of a broad mineralized zone even after correction for true width."
Ouaré West Exploration Program
A soil geochemical survey was completed in 2006-2009 over large portions of the Bitou property including the Ouaré Main and Ouaré West areas. At Ouaré West a 2km by 200m soil gold geochemical anomaly was drilled in 2008 with widely-spaced fences of RC holes which confirmed broad widths of low grade gold mineralization in 38 holes. In 2011 a further 3,260m in 32 RC holes was completed at Ouaré West. The first results have been received from 19 of these RC holes; Table 1 includes highlights of the results received to date.
Table 1 Ouaré Exploration 2011 RC Drilling Highlights
This area is 400m west of the current Ouaré Main mineral resource and provides encouragement for potential additional mineral deposits nearby. Further drilling will test the Ouaré West target in late 2011 and an additional program will follow up on other geochemical anomalies on the Bitou properties in 2012.
Figure 1 Ouaré Drill Plan
Click to Enlarge
Ouaré Main Infill Program
The infill drill program across the entire Ouaré deposit continues with the objective of improving the geological model and upgrading the resource classification. 11,487m of the planned 25,000m drill program has been completed and results of the first 10,613m have been received, highlights from the most recent batches are included in Table 2. All reported intersections in this news release are from the western end of the Ouaré Main zone where the shape of the gold in soil anomaly and the ground geophysics indicated that the structure appears to turn to the northwest and therefore drilling was designed to test this feature (Figure 2). It may be possible that a portion of the mineralization also continues on the east-west trend through this area and, if that is the case, the true thickness of the drill intersections in this area may be reduced as much as 58%. Given that the intervals may have obliquely intersected this portion of the Ouaré Main Zone, Endeavour has provided these estimated true widths as a conservative measure. Oriented diamond drilling is planned to further test the Ouaré Main zone in late October, following the rainy season to provide the additional information required to determine the trend of this portion of the mineralized zone. The remaining 13,513m of the existing drill program will be completed and results received by year's end. Based on the positive results to date, it is anticipated that this program will be expanded as part of the Endeavour and Adamus combined exploration program for 2012.
Table 2 Ouaré Main Zone 2011 RC Drilling Highlights
*The estimated true widths for these intercepts assume an orientation of the drill holes relative to the mineralization that may be conservative. Endeavour considers it appropriate to take a conservative approach to reporting these widths until additional drilling is completed.
Figure 2 Ouaré Main Drill Plan
Click to Enlarge
The Ouaré deposit is structurally controlled and is hosted in the Birimian greenstone of the Youga belt. The mineralization appears to follow a lithologic contact between meta-sediments and volcanics and is associated with silicification and disseminated sulphides. The zone is over 2km long and trends east-west. The mineralization comprises two to five parallel panels of mineralization that dip moderately to the north.
The previously reported Inferred mineral resource, at a 0.5 g/t cut-off, for Ouaré was 4.738 million tonnes at 2.1 g/t gold containing 323,000 ounces gold (Internal Resource Estimate, dated June 16 2009). At the time of the initial resource estimate the deposit had been nominally tested on 50m spaced sections to a maximum depth of 100m for a 2,000m strike length. The 2011 drilling is decreasing the section spacing to 25m and reducing the hole spacing to 20m in order to provide measured and indicated classification of the resources. The resources will be updated for reporting in Q2 2012. A portion of the current program is also designed to extend the resources to at least 150m depth on selected sections.
Samples for metallurgical testwork were collected from diamond drill holes on the Ouaré Deposit. The testwork will be part of engineering studies that will examine the potential to process these resources through either hauling to the existing Youga plant or processing the ores as a heap leach operation at the Ouaré site.
K. Kirk Woodman, P.Geo., Endeavour's Head of Exploration, is the Qualified Person overseeing Endeavour's exploration projects in West Africa and has reviewed and approved this press release.
All sample preparations and standard 50-gram gold fire assays were performed by SGS Laboratories, Ouagadougou, Burkina Faso. Endeavour consistently employs a rigorous quality control and assurance program comprising regular insertion of certified reference standards, blanks and duplicates.
About Endeavour Mining Corporation
Endeavour is a gold producer. Endeavour also holds an extensive exploration land position and various advanced-stage development gold projects in West Africa. Endeavour has a global strategy, supported by financial resources and management's company building expertise, to grow into an intermediate gold producer through strategic acquisitions.
On August 21, 2011, Endeavour and Adamus Resources Limited (ASX:ADU) announced they have entered into a definitive Merger Implementation Agreement to combine through an all-stock merger of equals transaction creating a new growth focused West African gold producer. The merger is scheduled to close during December 2011.
The common shares of Endeavour Mining Corporation are traded on the Toronto Stock Exchange under the symbol "EDV".
For additional information, please visit our corporate website at www.endeavourmining.com.
On behalf of Endeavour Mining Corporation
Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of Endeavour Mining Corporation. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Corporation's filings with the appropriate securities commissions.
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