Endeavour Silver reports 18% production boost in Q1

Precious metals miner Endeavour Silver (TSX: EDR; NYSE: EXK) has released first quarter production results showing an 18% increase in silver equivalent output compared to the same period last year.

The Canadian miner said it produced 1.6 million oz. of silver and 9,342 oz. gold, for silver equivalent output of 2.4 million oz., up from the 1.3 million oz of silver and 8,695 oz. of gold in the first quarter of 2022.

Endeavour Silver noted that payable silver production jumped by 23% from last year, thanks mainly to a 27% rise in silver output at its flagship Guanacevi mine, in Durango, Mexico, as well as to a 1% jump at the Bolañitos mine, also in Mexico.

The 7% gain in gold production was attributed to a 20% increase in gold output at Guanacevi while gold production at Bolañitos fell by 1%.

Endeavour says it intends to make a formal construction decision on the Terronera project in Jalisco state soon, subject to financing and the receipt of additional amended permits.

A 2021 feasibility study on Terronera, which Endeavour considers its next core asset, supported a high-grade silver-gold underground mining operation, producing an average of 3.3 million payable oz. silver and 32,874 payable oz. gold per year over a 12-year mine life.