Endeavour Acquires Navegantes Properties Near Parral District Chihuahua, Mexico

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[{"type":"text","content":"\n\n\n\nVANCOUVER, Feb. 19 /CNW/ - Endeavour Silver Corp. (EDR: TSX, EXK: AMEX,\nand EJD: Frankfurt) announces that it has acquired an option to purchase the\nNavegantes silver properties, located approximately 80 km west of the city of\nHidalgo de Parral in Chihuahua State, Mexico.\n\n\nThe five Navegantes properties (470 hectares) cover two historic silver\nmines, Jorge and San Pedro, and a north to northeast-trending swarm of\nmineralized quartz-barite veins that measures over 1.5 km in length. The\nNavegantes mines were known for their "bonanza" grades and are described as\n"significant past producers" by the Mexican Geological Service ("SGM") in\ntheir Chihuahua monograph.\n\n\nBradford Cooke, Chairman and CEO, commented, "We view the Navegantes\nacquisition as an attractive opportunity to explore for and potentially\ndiscover new high-grade silver deposits in the near-term as part of our Parral\nProject. The Navegantes properties have never been explored or drilled by\nmodern methods. In 2007, Endeavour discovered a new polymetallic mineralized\nzone on the El Cometa property at Parral on a similar, unexplored,\npast-producing mine property and Endeavour staff feel that Navegantes also\nholds excellent discovery potential."\n\n\nNavegantes is readily accessible by road, approximately a three and a\nhalf hour drive west of Parral on Highway 24 and a gravel access road. The\nproperties are situated on sparsely vegetated, low rolling foot-hills of the\nSierra Madre. Local infrastructure is available in the nearby town of San\nPablo Balleza, including hotels, stores and an airstrip. Endeavour can acquire\na 100% interest in the Navegantes properties by making $470,000 in escalating\ncash payments over a 2 year period.\n\n\nThe historic mines were developed by three small production shafts (to\n36 m in depth but old workings may go deeper) along two main mineralized veins\nand multiple ancillary structures. The Pizzaro vein on which the San Pedro\nshaft is located averages 1 to 3 m thick and can be traced by intermittent old\nmine workings for more than 1.0 km. The Navegantes veins on which the Jorge\nand Carmelitas shafts are located ranges from 2 to 5 m thick over a strike\nlength of 1.2 km and hosts the principal mine workings.\n\n\nThe Navegantes veins and mines are hosted by rhyodaci...

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