Endeavour Silver Corp. has announced that it has completed the acquisition of the Bruner Property, located in Nye County, Nevada, from Canamex Gold Corp. Endeavour paid US$10 million in cash for 100% of the Bruner Gold Project which includes mineral claims, mining rights, property assets, water rights, and government authorisations and permits.
The Bruner Gold Project is an exploration and development stage project located approximately 180 km southeast of Reno, Nevada. Gold was originally discovered in the district in 1906 and saw intermittent historic mining between 1906 and 1998. Recent exploration activities by previous operators included mapping, drilling, geophysical surveys and sampling culminating in a mineral resource estimate in 2015 and a preliminary economic assessment in 2017 outlining a low capital cost, opencast, heap leach operation.
A historic resource estimate of 342 000 oz of gold contained in 17.5 million t grading 0.61 g/t in three zones, Paymaster, HRA and Penelas was prepared for Canamex in a technical report dated 22 January 2018 titled ‘NI 43-101 Technical Report on the Bruner Gold Project, Updated Preliminary Economic Assessment, Nye County, Nevada, USA’ by Welsh Hagen Associates. A qualified person has not done sufficient work for Endeavour to classify the historical estimate as a current mineral resource or mineral reserve. Endeavour is not treating the historical estimate as a current mineral resource or mineral reserve, has not verified the historical resource estimate and is not relying on it. Endeavour plans to ‘twin’ certain drill holes and conduct a drilling programme to upgrade the historical estimate as a current mineral resource. Activities in 4Q021 will focus on surface work and data compilation and in 2022, Endeavour anticipates recommencing exploration work on high priority targets.
Endeavour CEO, Dan Dickson, commented: “We are pleased to add an advanced precious metals property to our project pipeline. Bruner should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production, and organic growth.
“We will provide a formal market update in our 2022 annual guidance on our exploration plans for the Bruner project. Our exploration team will focus initially on verifying the historic resources, then turn its attention to the many exploration targets on the Bruner Property. We look forward to unlocking the full potential of the Bruner Property with the goal of building a new mining operation in another historic mining district in Nevada.
“In the short term, our attention is on the Terronera Project, as we are nearing the completion of the Feasibility Study and we look forward to releasing the results.”
Read the article online at: https://www.globalminingreview.com/exploration-development/03092021/endeavour-silver-completes-acquisition-of-bruner-gold-project/