Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
After dreary drilling results last year, Canadian junior miner Endeavour Silver (TSX: EXK), announced exploration drilling at the San Sebastian property in Mexico has discovered a new high grade silver-gold mineralized zone in the Terronera vein.
The results show broad, sometimes bonanza-grade intercepts with two of the best drillholes cutting 8 metres @ 1,489 g/t silver and 0.85 g/t gold and 17 metres @ 500 g/t Ag and 1.15 g/t Au.
The plan at San Sebastian, said the company in a release, is to continue drilling both laterally and vertically on the vein with one drill rig. To that end Endeavour has some room to move as the Terronera vein has been traced two kilometres along strike. Expect more drilling results sometime mid-July, Hugh Clarke, Endeavour’s vice-president of corporate communication said.
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