Endeavour Acquires San Pedro Properties In Guanacevi Silver District, Durango, Mexico

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[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 12 /CNW/ - Endeavour Silver Corp. (EDR: TSX, EXK: AMEX,\nEJD: DBFrankfurt) announces the acquisition of an option to purchase the\nSan Pedro properties, located about 6 km northwest of Endeavour's operating\nPorvenir Mine, in the Guanacevi silver district, Durango State, Mexico.\n\n\nThe 15 San Pedro properties (330 hectares) cover the heart of the\nhistoric San Pedro sub-district north of Guanacevi, and include the famous\nEl Soto, Nuevo Australia, Noche Buena and Buena Fe silver mines. They boost\nEndeavour's land holdings in Guanacevi by 53% to 957 hectares, and give the\nCompany a major new prospective area to explore for high grade silver\ndeposits.\n\n\nLike the Guanacevi district, the San Pedro sub-district was originally\nfounded in the late 1500's for its famously high grade silver ores. However,\nunlike Guanacevi, the silver mineralization at San Pedro is found in manto\norebodies where high angle vein structures crosscut the shallow dipping\ncontact of Cretaceous conglomerates with overlying Tertiary andesites. For\ncomplete details on the Guanacevi Mines Project click here.\n\n\nBy the early 1900's, the El Soto and Nueva Australia mines were developed\nand producing from 9 levels and 12 shafts down to a maximum depth of 167 m. In\n1921, the Mexico Consolidated Mining and Smelting Co. Ltd. reported that the\nrich silver manto ores at El Soto-Nueva Australia typically graded\n1000-2000 gpt silver, 1-30 gpt gold, and 1-10% lead-zinc, with direct shipping\nsmelter ores assaying up to 20,000 gpt silver.\n\n\nEast and down-dip of El Soto-Nueva Australia lie the Noche Buena and\nBuena Fe Mines, which recorded minor historic production, but similar high\ngrade ores. In this area, the hangingwall andesites are strongly altered to\nclay and adularia, mineralized with pyrite and anomalous in silver, suggesting\nburied mineralization at depth. Dr. Larry Buchanan, author of some of the most\ndefinitive technical papers on epithermal vein systems, visited the San Pedro\nsub-district in 1993 and wrote, "The Buena Fe area presents a very attractive\nexploration target for major tonnages of manto ore. The size and intensity of\nthe geochemical anomalies and of the wallrock alteration suggest that the\nBuena Fe area may host as much mineralization as has been mined in the past\nfrom San Pedro."\n\n\nH...

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