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Pan American Silver Corp.
Summary
| Project: | San Vicente | |
|---|---|---|
| Deposit: | San Vicente | |
| Location: | Bolivia | |
| Commodities: | Silver | |
| Date: | 2/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 14-2-2017: Pan American Silver Corp. announces a Resource Estimation report for its San Vicente deposit at the San Vicente project. Annual statement of mineral resources and ore reserves. Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAAS) (“Pan American” | |
| Resources: | (Reserve): 2.0Mt @ 464g/t Ag (Prov.) and 0.5Mt @ 531g/t Ag (Prob.) at project | |
| 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. “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.” San Vicente more than replaced silver ounces mined, increasing the total silver ounces contained in the reserves by 3% to 40.6 million ounces. High-grade ore shoots discovered on the Vanessa and Rampa veins helped to increase the overall reserve grade to 478 grams of silver per tonne, the highest reserve grades of all our assets. In 2016, we drilled a total of 19,000 metres in near-site exploration at San Vicente. For 2017, Pan American is increasing the exploration drill program to 33,000 metres. | |
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