“We are encouraged by the ongoing success of our exploration team at Guanajuato. In less than one year of drilling, they have discovered multiple new zones of high grade silver-gold mineralization. At Cebada, the “3785″ discovery was the first new find identified this year and it is now being developed for mining next year. At Bolanitos, the recent Bolanitos, Santa Maria and Lucero discoveries are all open for expansion and Lucero is already being developed for mining this year. These veins extend for several kilometres on Endeavour’s properties and the potential for making additional high grade silver-gold discoveries appears to be very good.”

A quote from Bradford Cooke, Chairman and Chief Executive Officer.

Other highlights in this news release include a number of exciting intervals with economic potential, for instance; 166 grams per tonne silver and 5.54 gpt gold over 6.00 m (17.0 oz per ton silver equivalent over 19.7 feet), including 239 gpt silver and 11.45 gpt gold over 1.90 m (32.0 opt silver equivalent over 6.6 ft), in drill hole BSV-3, and 1015 gpt silver and 1.60 gpt gold over 0.9 m (33.1 opt silver equivalent over 3.0 ft) in hole BUV-9.

To read this news release in full and to see the tabulation of the high-grade silver-gold mineralization, please click here.

The Executives have recently taken a 10% pay cut and there is also a 10% labour reduction programme being implemented, another move which bodes well for getting costs even lower.

As long term readers will know Endeavour forms a large part of our core position which we expect to do extremely well once silver decides to head north, until then we will sit tight and keep a firm hold of the stocks in our core portfolio.

Endeavour Silver Corporation has a Market Capitalisation of $53.94 million with 49.04 million shares outstanding, a 52 week high of $4.60 and 52 week low of $0.71, closed yesterday at $1.10 and trades as: EDR: TSX, EJD: DBFrankfurt, EXK: AMEX)

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