News release via Canada NewsWire, Vancouver 604-669-7764
Attention Business Editors:
Endeavour Acquires Navegantes Properties Near Parral District Chihuahua,
VANCOUVER, Feb. 19 /CNW/ - Endeavour Silver Corp. (EDR: TSX, EXK: AMEX,
and EJD: Frankfurt) announces that it has acquired an option to purchase the
Navegantes silver properties, located approximately 80 km west of the city of
Hidalgo de Parral in Chihuahua State, Mexico.
The five Navegantes properties (470 hectares) cover two historic silver
mines, Jorge and San Pedro, and a north to northeast-trending swarm of
mineralized quartz-barite veins that measures over 1.5 km in length. The
Navegantes mines were known for their "bonanza" grades and are described as
"significant past producers" by the Mexican Geological Service ("SGM") in
their Chihuahua monograph.
Bradford Cooke, Chairman and CEO, commented, "We view the Navegantes
acquisition as an attractive opportunity to explore for and potentially
discover new high-grade silver deposits in the near-term as part of our Parral
Project. The Navegantes properties have never been explored or drilled by
modern methods. In 2007, Endeavour discovered a new polymetallic mineralized
zone on the El Cometa property at Parral on a similar, unexplored,
past-producing mine property and Endeavour staff feel that Navegantes also
holds excellent discovery potential."
Navegantes is readily accessible by road, approximately a three and a
half hour drive west of Parral on Highway 24 and a gravel access road. The
properties are situated on sparsely vegetated, low rolling foot-hills of the
Sierra Madre. Local infrastructure is available in the nearby town of San
Pablo Balleza, including hotels, stores and an airstrip. Endeavour can acquire
a 100% interest in the Navegantes properties by making $470,000 in escalating
cash payments over a 2 year period.
The historic mines were develop