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Endeavour Silver reports consolidated production figures for 2018

Published by , Assistant Editor
Global Mining Review,

Endeavour Silver Corp. has reported 2018 consolidated production of 5.5 million oz of silver and 52 967 oz of gold, for silver equivalent production of 9.5 million oz at a 75:1 silver: gold ratio. Silver production in the 4Q18 was 1 386 505 oz and gold production was 13 117 oz, for silver equivalent production of 2.4 million oz.

Endeavour owns and operates three silver mines in Mexico, the Guanaceví mine in Durango state and the Bolañitos and El Cubo mines in Guanajuato state. Last year, the company developed and is now commissioning a fourth mine, the El Compas mine in Zacatecas state. Production from the three mines was higher in 2018 compared to 2017 but fell short of the company’s 2018 production guidance. 

The 7% improved production performance in 2018 compared to 2017 was due to higher mine output, silver and gold grades and recoveries at the El Cubo mine. The 7% production shortfall in 2018 compared to guidance was due to lower mine output and silver grades at Guanaceví, lower gold grades at Bolañitos and delays in achieving commercial production at El Compas.

Highlights for 4Q18 (compared to 4Q17)

  • Silver production decreased 4% to 1 386 505 oz.
  • Gold production decreased 10% to 13 117 oz.
  • Silver equivalent production was 2.4 million oz (at a 75:1 silver: gold ratio).
  • Silver ounces sold totalled 1 264 340 oz.
  • Gold ounces sold totalled 11 819 oz.
  • Bullion inventory at year-end included 101 146 oz silver and 218 oz gold.
  • Concentrate inventory at year-end included 96 614 oz silver and 1517 oz gold.
  • Nick Shakesby was appointed as new Vice President, Operations.
  • Bolañitos drilling returned multiple high-grade intersections including 1415 grams per tonne (gpt) silver and 2.25 gpt gold over a 1.1 m true width in the San Miguel vein.
  • Parral drilling and underground sampling returned multiple high-grade intersections including 934 gpt silver, 0.21 gpt gold, 3.0% lead and 5.9% zinc over 4.2 m true width and excellent metallurgical recoveries by flotation and leaching.
  • El Compas commissioning has been delayed due to several issues including excess clay in ore that caused a recovery issue in the plant (metallurgical studies ongoing), a water issue in the tailings facilities (now resolved), and a ball mill equipment failure in late December (to be rectified by late January) that halted plant operations while the mine continues operating (ore stockpile now exceeds 10 000 t).

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