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Endeavour Silver buys 2 properties in Mexico

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Endeavour Silver buys 2 properties in Mexico

Endeavour Silver Corp. said June 6 that it has acquired two small but prospective mineral property groups called Calicanto and Veta Grande in the historic silver mining district of Zacatecas in the Mexican state of the same name.

The company bought the Calicanto properties from Arian Silver Corp. for US$400,000. These cover 75 hectares over five known silver-gold-lead-zinc veins within an area of 1.2 kilometers by 1.2 kilometers.

The company paid US$500,000 to buy the Veta Grande properties from Impact Silver Corp. by issuing 154,321 common shares at US$3.24 each. Veta Grande covers 152 hectares over six known silver-gold-lead-zinc veins plus 14 hectares of surface lands covering the dormant Santa Gabriela 200-tonne-per-day processing plant and tailings facility.

Endeavour made the acquisitions for their near-term mine exploration and development potential, given their proximity to its El Compas mine and La Plata plant.

CEO Bradford Cooke said drilling is now underway at the Calicanto properties, and the company expects to permit and drill the Veta Grande properties later this year.