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« Pan American Silver Corporation: Buy! | Main | Hecla Mining: Bought Call Options Today! »

Endeavour Silver Corporation Up 9.37% on results!

The market reacted positively to Endeavours latest news release with turnover up from an average volume of 118,000 to 259,000, adding $0.27 to close at $3.15. The excitement is predicated on the news that Endeavour has encountered several new zones of high grade silver mineralization, including 6,680 gpt silver and 11.2 gpt gold over 1.15 m in drill hole EPS3-1.

From the companies web site we can glean the following:

Endeavour has drilled 12 holes to date on the San Pedro (see news release dated December 12, 2007) and adjacent Milache (see news release dated November 27, 2007) properties. These properties were recently acquired by the Company in the north end of the Guanaceví silver district in order to consolidate Endeavour's land-holdings and boost its silver resources near Endeavour's core operating silver asset, the Guanacevi Mines project in Guanaceví.

Seven of the 12 drill holes intersected economically interesting silver mineralization in five separate target areas spread over a 3.0 km x 1.5 km area at San Pedro. Each of the five target areas is wide open for expansion. Several of them may in fact be different portions of one large mineralized vein/manto system that appears to underlie much of the San Pedro area.

For those of you who want to see the data in tabulated form please click this link.

This latest missive includes a statement for the Endeavours Chairman and CEO, Bradford Cooke, who said:

"We are thrilled to receive such positive drill results so early in the San Pedro exploration program. Because the San Pedro vein/manto system appears to cover hundreds of hectares, Endeavour's properties hold excellent potential for additional high-grade silver discoveries as exploration progresses. We now have two drills working around the clock at San Pedro."

This stock forms part of our core position as we have been buyers for some time with our last purchase at around the $3.26 level on 2nd April 2008. If you need to increase your exposure to the silver market then now is time to acquire Endeavours stock.

Endeavour Silver Corporation trades as: EDR: TSX, EJD: DBFrankfurt, EXK: AMEX)

Have a good one.

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