Vancouver-based Endeavour’s US$271mn Terronera underground silver and gold mine in Mexico’s Jalisco state reached 50% completion in mid-March, up from 43% at end-2023, the company stated in a release.
“Reaching the halfway mark in our construction schedule is a testament to the hard work and dedication of our team. With commissioning expected in Q4 2024, Terronera will bring tremendous potential to our company’s future, as we grow and expand our operations through responsible practices,” Endeavour Silver CEO Dan Dickson stated.
To celebrate the milestone, the Mexico-focused miner made a short video that offers investors an exclusive look at the new mine, along with insights from the executive team, and represents construction progress at that time. The video can be seen here.
“The new underground mine will become the company’s flagship operation, and it will bring significant economic and social benefits to the local area,” Endeavour said in the video, adding that the project has a 10-year mine life and reserves of nearly 90Moz of silver equivalent, but it could have up to 20 years of production, according to the firm.
The company said Terronera is expected to produce 4Moz/y silver and 38,000oz/y gold over the mine life.
Although Terronera is similar to Endeavour’s other operations in Mexico, CEO Dan Dickson explained that reserves at the site are “very thick and very rich compared to its other operations.”
Currently, over 600 employees and contractors are working at the site and the project is expected to be completed by the end of this year. Initial production is expected by late 2024.
“Getting an early start in this project is very important. Much effort was focused on the 7km road to upgrade so we could prepare for equipment deliveries, major construction and mine development,” COO Don Gray said in the video.
Endeavour said that while the focus has now shifted to construction, significant exploration remains on the district-scale land package, which covers 20,000ha.
“Terronera is a classic example of low sulfidation and epithermal systems. Its main vein has an average of seven meters wide and 1.5 kilometers of length, it is very well-defined and continuous. Mineralization is open in Terronera on depth. It is where we found the best values of silver on it,” SVP exploration Luis Castro said.
“But Terronera has over 50 veins on the property, and just half of them have been tested. If we put together the inferred resource area plus the potential on depth of Terronera and regional targets, we can be her up to 20 years on production”, Castro added.
Endeavour has a portfolio of exploration projects in Mexico, Chile and the US to facilitate its goal of becoming a premier senior silver producer.
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