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Pan American Silver Corp.
Summary
| Project: | La Bolsa | |
|---|---|---|
| Deposit: | La Bolsa | |
| Location: | Mexico | |
| Commodities: | Silver-Gold | |
| Date: | 2/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-2-2017: Pan American Silver Corp. announces a Resource Estimation report for its La Bolsa deposit at the La Bolsa project. Annual statement of mineral resources and ore reserves. Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAAS) (“Pan American”, or t | |
| Resources: | (Reserve): 9.5Mt @ 10g/t Ag, 0.67g/t Au (Prov.) and 6.2Mt @ 7g/t Ag, 0.57g/t Au (Prob.) | |
| CP/QP: | [Resources]: C. Emerson, M. Wafforn (Internal) | |
| ABSTRACT: | Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAAS) (“Pan American”, or the “Company”) today reported on its mineral reserves and resources as at December 31, 2016. Pan American’s mineral reserves are estimated to contain approximately 286 million ounces of silver and 2.0 million ounces of gold compared with 280 million ounces of silver and 2.1 million ounces of gold at December 31, 2015. “In 2016 we added 38.1 million ounces of new silver mineral reserves, more than replacing the 32.4 million ounces depleted through mining,” said Christopher Emerson, Pan American’s Vice President Business Development and Geology. “We increased our exploration budget mid-year, investing a total of $14 million during 2016, and completed 136,000 metres of drilling on mine and near-site exploration, as well as 7,000 metres on regional projects.” Added Mr. Emerson: “Pan American’s history of replacing silver ounces mined reflects our ability to invest in mine and near-site exploration programs throughout the silver price cycle and the exploration potential of our asset portfolio. We are planning a more aggressive exploration program in 2017, investing about $21 million, to complete about 137 kilometres of diamond drilling at our operating mines and another 22 kilometres of drilling at selected regional exploration projects. Following our recent purchase of the Joaquin project in southern Argentina, we are working on technical studies to determine how much of the high-grade portion of Joaquin's mineralized material can be economically treated at our Manantial Espejo mine.” | |
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