VANCOUVER, Canada, August 17, 2015/African Press Organization (APO)/ — Endeavour Mining Corporation (“Endeavour” or the “Corporation”) (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) (http://www.endeavourmining.com/) is pleased to report drilling results from several areas at Agbaou Gold Mine located in Côte d’Ivoire. The drilling program confirmed extensions of mineralization in the West pit area and has delineated the higher grade zones at Beta and Gamma.
Neil Woodyer, CEO, stated: “The majority of this new mineralization at Agbaou is oxides and the next phase of our 2015 program will focus on ensuring that these zones are brought into reserves at the end of this year and also continue testing strike extents. Intersecting high grade mineralization including 16.47 g/t over 8.3 metres at Beta and 12.15 g/t over 9.4 metres at Gamma confirms the exciting potential we have to continue to extend mine life at Agbaou.”
Highlights from the Agbaou drilling program include: http://www.photos.apo-opa.com/plog-content/images/apo/photos/table1.jpg
Of the 220 holes totalling 22,004 metres completed in this program, 78% intersected mineralization. The results demonstrate continuity of grades and widths and have confirmed the interpretation of the Omega and Sigma mineralized zones as extensions of the mineralization along the same structures that host the West pit mineralization (Figure 1). Oxidation extends to between 40 and 60 metres depth throughout much of the area (Figures 2 and 3). Drilling results with true widths are provided in the appendix to this news release.
The Beta and Gamma zones were previously identified in our 2014 exploration program. The Beta zone (previously referred to as the P2 target) extends southwest of the North pit and drilling highlights include 8.3 metres at 16.47 g/t gold (including 2.1 metres at 42.43 g/t gold), 13.1 metres at 3.95 g/t gold (including 3.6 metres at 10.63 g/t gold), 26.7 metres at 3.68 g/t gold (including 5.3 metres at 10.9 g/t gold) and 16.9 metres at 2.40 g/t gold (including 2.7 metres at 8.49 g/t gold).
The Gamma zone (previously referred to as the P4 target) is a result of follow up drilling of widely spaced holes completed in 2014 on a sub-parallel mineralized trend (Figure 1). The Gamma zone is approximately 600 metres long, moderately to steeply dipping southeast (Figure 2). Intersections include 9.4 metres at 12.15 g/t gold (including 4.3 metres at 20.03 g/t gold) and 11.9 meters at 3.18 g/t gold (including 0.9 meters at 12.14 g/t gold) (Figure 2). The mineralization is still open to the southwest and the strike extent will be further tested during the next phase of drilling.
Figure 1: http://www.photos.apo-opa.com/plog-content/images/apo/photos/figure1s.jpg (Plan Map Showing Drill Holes and Significant Intersections)
Drilling results in the Sigma zone included 10.2 metres at 3.52 g/t gold (including 0.9 metres at 15.71 g/t gold) and the best intersection at the Omega zone was 13.3 metres at 2.83 g/t gold (including 1.7 metres at 8.29 g/t gold) (Figure 1).
The drill program included 198 RC holes for 19,750 meters and 22 diamond drill holes for 2,254 meters. This additional data will be incorporated into year-end mineral resource and reserve estimates.
A follow-up drill program has commenced and includes a total of 21,800 meters of RC and diamond drill holes. The program includes infill drilling, further exploration of the Gamma and Sigma zones as well as testing geophysical targets southwest of Sigma and also in the Agbaou South area. Agbaou South is 3 km southwest of the South Pit and is on a separate north east-trending geophysical anomaly and strong geochemical anomaly.
Figure 2: http://www.photos.apo-opa.com/plog-content/images/apo/photos/figure2s.jpg (Cross Section A-A’ Showing the High Grade Gamma Zone and Drilling)
Figure 3: http://www.photos.apo-opa.com/plog-content/images/apo/photos/figure3s.jpg (Cross Section B-B’ Showing the Sigma Zone and Drilling)
Gérard De Hert, EurGeol, Vice President 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 Bureau Veritas Laboratories, Abidjan, Cote d’Ivoire. Endeavour consistently employs a rigorous quality control and assurance program comprising regular insertion of certified reference standards, blanks and duplicates.
Appendix: Agbaou Drilling Program Highlights
Appendix page 1: http://www.photos.apo-opa.com/plog-content/images/apo/photos/appendix1.jpg
Appendix page 2: http://www.photos.apo-opa.com/plog-content/images/apo/photos/appendix2.png
Appendix page 3: http://www.photos.apo-opa.com/plog-content/images/apo/photos/appendix3.png
Appendix page 4: http://www.photos.apo-opa.com/plog-content/images/apo/photos/appendix4.png
Distributed by APO on behalf of Endeavour Mining Corporation.
For additional information, contact:
EVP Business Development
+1 604 609 6114 [email protected]
About Endeavour Mining Corporation
Endeavour is a Canadian-based intermediate gold mining company producing 500,000 ounces per year from four mines in West Africa. Endeavour is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.
On behalf of Endeavour Mining Corporation
Neil Woodyer, Chief Executive Officer
This news release contains “forward-looking statements” including but not limited to, statements with respect to Endeavour’s plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts” and “anticipates”. Forward-looking statements, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour’s most recent Annual Information Form filed under its profile at http://www.sedar.com for further information respecting the risks affecting Endeavour and its business.
Endeavour Mining Corporation
Suite 3123, 595 Burrard Street,
P.O. Box 49139
Vancouver, BC V7X 1J1 Canada
A Cayman Islands exempted company with limited liability
ARBN 153 067 639