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Coeur Mining Inc.
Summary
| Project: | Palmarejo Complex | |
|---|---|---|
| Deposit: | Palmarejo Complex | |
| Location: | Mexico | |
| Commodities: | Silver-Gold | |
| Date: | 12/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 17-12-2019: Coeur Mining Inc. announces an Exploration/Drilling Update report for its Palmarejo Complex deposit at the Palmarejo Complex project. Drilling results incl. 5.7m @ 12.8g/t Au, 1047.5g/t Ag. Chicago, Illinois – December 17, 2019 – Coeur Mining, | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Christopher Pascoe (Internal) | |
| ABSTRACT: | Chicago, Illinois – December 17, 2019 – Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today provided an update on its 2019 exploration activities, which focused primarily on resource expansion drilling. The Company reported encouraging results from expansion drilling at its Silvertip operation in British Columbia, its Sterling and Crown exploration projects in southern Nevada, and the Kensington mine in Alaska as well as positive results from the ongoing near-mine exploration program at the Palmarejo mine in Mexico. Drilling activities at the Rochester and Wharf operations began late in the year and are not highlighted in this update. Year-to-date through the end of the third quarter, Coeur’s investment in exploration totaled approximately $21.0 million ($15.3 million expensed and $5.6 million capitalized). The Company expects to spend approximately $26-$34 million on exploration this year, including $18-$22 million and $8-$12 million of expensed and capitalized exploration, respectively1 . Over 90%2 of the Company’s 2019 exploration budget has been allocated to near-mine drilling, which the Company believes offers lower risk and higher potential returns. In 2020, Coeur expects to increase its level of exploration investment with the objectives of (i) discovering new resources and (ii) converting existing resources to reserves in order to extend mine life. “Despite overall lower levels of exploration investment, we successfully commenced several expansion drilling programs in 2019, with notable results at Silvertip, Sterling and Crown, and Kensington,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “We focused our efforts on exploration targets within our current operating footprint and near existing infrastructure in the pursuit of potential mine life extensions and organic growth opportunities, which rank near the top of our capital allocation framework. Overall, we are very pleased with the results from our 2019 drilling campaign and are excited about the potential of the high-grade targets we identified during the year.” | |
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