Shares of Endeavour Silver rise as Terronera surpasses the 50% completion mark
Shares of Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) rose on Tuesday as the company announced that its new Terronera mine in Jalisco state, Mexico, has surpassed the 50% completion mark.
The commissioning of the mine is expected in Q4 2024, with an anticipated 10-year mine life. The capital expenditure (capex) is $271 million, up by less than 20% from earlier estimates.
The Terronera project is situated within the Sierra Madre volcanic belt, which hosts most of Mexico’s silver and gold deposits.
Both the Terronera and La Luz underground deposits will be mined using a combination of long hole and cut-and-fill methods.
The mineral processing plant will have a capacity of 2,000 t/d. The feasibility study projects the project to produce 4 million oz. of silver and 38,000 oz. of gold annually over a 10-year period.
Terronera has proven and probable reserves of 7.4 million tonnes grading 197 g/t silver and 2.25 g/t gold (88.8 million oz. of silver equivalent). Endeavour provided no measured and indicated resources, but the inferred material at Terronera totals 1.1 million tonnes grading 322 g/t silver and 0.21 g/t gold.
Source: MINING.COM – Read More