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Pan American Silver Corp.
Summary
| Project: | Bell Creek Complex | |
|---|---|---|
| Deposit: | Marlhill, Vogel | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-9-2019: Pan American Silver Corp. announces a Resource Estimation report for its Marlhill, Vogel deposit at the Bell Creek Complex project. Annual statement of mineral resources and ore reserves. VANCOUVER, Sept. 4, 2019 /CNW/ - Pan American Silver Corp | |
| Resources: | ||
| CP/QP: | [Resources]: C. Emerson, M. Wafforn (Internal) | |
| ABSTRACT: | VANCOUVER, Sept. 4, 2019 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American", or the "Company") today reported that, as of June 30, 2019, its proven and probable mineral reserves are estimated to contain approximately 557 million ounces of silver and 5.1 million ounces of gold. Measured and indicated mineral resources (excluding proven and probable reserves), as of June 30, 2019, are estimated to total approximately 797 million ounces of silver and 10.6 million ounces of gold. These figures include mineral reserves and resources from the assets acquired with the Tahoe Resources Inc. ("Tahoe") transaction completed on February 22, 2019. "Our silver reserves doubled while gold reserves tripled from reserves reported at December 31, 2018, primarily due to the additional reserves acquired from Tahoe. We now hold one of the largest silver reserves and resources in the mining industry along with substantial gold reserves," said Christopher Emerson, Pan American's Vice President of Business Development and Geology. "During the first six months of 2019, we completed 40% of the annual drilling planned for our mine sites. We are accelerating our exploration drilling in the second half the year, and plan to complete 130,000 metres of drilling". As of June 30, 2019, inferred resources totaled approximately 303 million ounces of silver and 9.6 million ounces of gold. The majority of the increase in inferred gold resources from our December 31, 2018 update came from the acquired Tahoe assets, a significant portion of which are attributable to the Timmins exploration portfolio, which include the Juby and Fenn Gib projects. The mineral reserve and mineral resource estimates as of June 30, 2019 do not include the polymetallic skarn discovery at the La Colorada mine. We are currently drilling with seven machines at La Colorada, and expect to release an initial resource estimate relating to the skarn at the end of 2019. Beginning with this update, Pan American intends to report mineral reserves and mineral resources updates as of June 30 of each year, rather than as of December 31, in order to align mineral reserve and mineral resource updates with our annual mine plans and budgets. | |
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