Midtier miner Endeavour Silver on Monday announced the acquisition of a precious metals exploration property in Nye, Nevada, for $10-million in cash.
Endeavour CEO Dan Dickson said the Bruner property represented a good start on building an attractive gold/silver portfolio in Nevada.
“It should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production, and organic growth,” he said.
The Endeavour Silver exploration team would focus initially on verifying the historic resources, then turn its attention to the many exploration targets on the Bruner property.
Gold was originally discovered at Bruner in 1906 and the district saw intermittent historic small-scale mining between 1906 and 1998. Recent exploration activities by previous operators included mapping, sampling, geophysical surveys and drilling, culminating in a mineral resource estimate in 2015 and a preliminary economic assessment in 2017 outlining a low capital cost, openpit, heap leach mine operation.