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Primero Mining Corp.
Summary
| Project: | San Dimas Mine | |
|---|---|---|
| Deposit: | San Dimas Mine | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 3/20/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-3-2018: Primero Mining Corp. announces a Resource Estimation report for its San Dimas Mine deposit at the San Dimas Mine project. Updated mineral resource and reserve at San Dimas. Toronto, Ontario, March 20, 2018 -- Primero Mining Corp. (‘‘Primero’’ o | |
| Resources: | (Reserve, P+P): 4.1Mt @ 3.8g/t Au, 304g/t Ag for 495Koz Au, 39662 Ag contained at project | |
| CP/QP: | [Resources]: Dave Laudrum (Internal) | |
| ABSTRACT: | Toronto, Ontario, March 20, 2018 -- Primero Mining Corp. (‘‘Primero’’ or the ‘‘Company’’) (TSX:P) today announced its updated year-end 2017 Mineral Reserves and Mineral Resources. Primero commenced a strategic review process in early 2017 that resulted in the sale of the Black Fox Complex in October 2017 and the sale of the Cerro del Gallo development project in November 2017. In January 2018 the Company also announced that it had entered into the Arrangement Agreement whereby First Majestic will acquire all of the issued and outstanding common shares of Primero. The transaction is expected to close in or around April 2018, subject to applicable regulatory approvals and the satisfaction of other customary conditions. Primero’s Mineral Reserves and Mineral Resources as at December 31, 2017 include the San Dimas mine and adjacent Ventanas exploration property in Durango, Mexico. Total Proven and Probable Mineral Reserves at December 31, 2017 were 495,000 ounces of contained gold and 39.7 million ounces of contained silver. Total Measured and Indicated Mineral Resources at year-end 2017 were 823,000 ounces of contained gold and 62.2 million ounces of contained silver. Total Inferred Mineral Resources at December 31, 2017 were 799,000 ounces of contained gold and 73.9 million ounces of contained silver. The year-end 2017 Mineral Resource and Mineral Reserve estimates were completed internally with applied metal prices of $1,200 per ounce of gold and $17.00 per ounce of silver, and foreign exchange rates of 18.00 Mexican pesos per US dollar. The San Dimas Mineral Resources are calculated inclusive of Mineral Reserves.\ | |
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