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Coeur Mining Inc.
Summary
| Project: | Palmarejo Complex | |
|---|---|---|
| Deposit: | Palmarejo Complex | |
| Location: | Mexico | |
| Commodities: | Silver-Gold | |
| Date: | 2/20/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-2-2019: Coeur Mining Inc. announces a Resource Estimation report for its Palmarejo Complex deposit at the Palmarejo Complex project. Annual statement of mineral resources and ore reserves. Chicago, Illinois – February 20, 2019 – Coeur Mining, Inc. (“Co | |
| Resources: | (Reserve, P+P): 9.401Mt @ 0.074 oz/t Au, 5.34 oz/t Ag | |
| CP/QP: | [Resources]: Christopher Pascoe (Internal) | |
| ABSTRACT: | Chicago, Illinois – February 20, 2019 – Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported year-end 2018 proven and probable reserves from continuing operations1 of 2.8 million ounces of gold, 171.3 million ounces of silver, 291.2 million pounds of zinc and 197.5 million pounds of lead, an overall reserve increase year-over-year. Gold reserves declined modestly by 2%, while silver reserves increased 4%, year-over-year. Additionally, the Company declared initial zinc and lead reserves at its high-grade Silvertip mine located in northern British Columbia, Canada. The strong reserve growth was driven by the Company’s continued investment in its success-based, near-mine exploration programs. Year-end measured and indicated gold resources increased 26% compared to the prior year to 2.4 million ounces, while silver measured and indicated resources increased 2% to 228.7 million ounces. Higher gold resources were driven largely by Coeur’s acquisition of the Lincoln Hill Project, which is located approximately four miles west of the Company’s Rochester mine in northern Nevada. Zinc and lead resources declined primarily due to conversion into reserves, which had been the Company’s drilling priority at Silvertip since its acquisition in late 2017. The Company also saw inferred resource growth with gold and silver inferred resources increasing 145% and 39%, respectively, compared to 2017. The substantial increase to the Company’s inferred resources was primarily a result of successful drilling at the Rochester mine and two strategic acquisitions of Nevadabased assets in 2018, including the Sterling Mine and Crown Block in southern Nevada. For the year-end 2018 reserve estimate, Coeur’s assumed gold reserve price remained unchanged at $1,250 per ounce. The Company’s assumed silver reserve price was lowered from $17.50 per ounce to $17.00 per ounce. Zinc and lead reserve price assumptions were $1.25 and $1.00 per pound, respectively. | |
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