Company’s largest exploration investment in its
history delivering significant new results throughout its portfolio
of North American precious metals assets
Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today
reported an update on its 2021 exploration programs at its
Palmarejo and Kensington operations, following its update on
February 17, 2021. The Company also highlighted new drilling
results at its Silvertip and Wharf mines. Coeur drilled
approximately 698,100 feet (212,775 meters) from 27 active rigs at
six different locations through the first seven months of 2021,
reflecting a year-over-year increase of roughly 58%. The Company
plans to invest approximately $75 million1 in exploration this
year, nearly 50% higher than last year’s record exploration
investment, representing one of the sector’s largest exploration
programs.
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the full release here:
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Palmarejo - Plan View (Graphic: Business
Wire)
Key Highlights2,3
- Ongoing drilling success at Palmarejo leading to new
high-grade growth – Coeur has been successfully generating
results from its infill and expansion drilling campaign within the
Independencia and Guadalupe deposits. Specifically, assays across
multiple target areas, including the Hidalgo zone located at the
northwest end of Independencia near existing infrastructure, have
returned high-grade intercepts that demonstrate significant
near-mine growth potential. Key highlights include:
Hidalgo zone (Independencia deposit) – Infill
- Hole HGDH_050 returned 142.7 feet (43.5 meters) of 0.11 ounces
per ton (“oz/t”) (3.8 grams per tonne (“g/t”)) gold and 7.9 oz/t
(270.9 g/t) silver
- Hole HGDH_069 returned 55.1 feet (16.8 meters) of 0.14 oz/t
(4.8 g/t) gold and 15.5 oz/t (531.4 g/t) silver
- Hole HGDH_072 returned 12.8 feet (3.9 meters) of 0.69 oz/t
(23.7 g/t) gold and 23.9 oz/t (819.4 g/t) silver
North Independencia (Independencia deposit) – Infill
- Hole VIDH_161 returned 11.2 feet (3.4 meters) of 0.27 oz/t (9.3
g/t) gold and 15.7 oz/t (538.3 g/t) silver
Hidalgo zone (Independencia deposit) – Expansion
- Hole HGDH_062 returned 1.3 feet (0.4 meters) of 4.03 oz/t
(138.2 g/t) gold and 18.2 oz/t (624.0 g/t) silver
La Patria zone (Guadalupe deposit) – Infill
- Hole LPDH_254 returned 42.7 feet (13.0 meters) of 0.18 oz/t
(6.2 g/t) gold and 3.8 oz/t (130.3 g/t) silver
- Drilling at Kensington identifying additional high-grade
growth opportunities – Building on late last year’s infill
program, Coeur began 2021 by drilling on the Elmira vein located
approximately 2,700 feet (825 meters) east of the Kensington Main
deposit while also testing expansion targets beyond Elmira,
including the Johnson vein. Coeur’s elevated level of exploration
investment at Kensington the past two years is intended to extend
mine life and generate future potential growth opportunities beyond
its existing reserves and resources. Notable assay results
include:
Elmira – Infill & Expansion
- Hole EL21-0850-192-X30 returned 14.6 feet (4.5 meters) of 1.06
oz/t (36.3 g/t) gold
- Hole EL21-0850-192-X23 returned 19.7 feet (6.0 meters) of 0.48
oz/t (16.5 g/t) gold
- Hole EL21-0850-156-X11 returned 10.4 feet (3.2 meters) of 0.81
oz/t (27.8 g/t) gold, 0.8 feet (0.2 meters) of 6.43 oz/t (220.4
g/t) gold and 1.4 feet (0.4 meters) of 1.54 oz/t (53.7 g/t)
gold
Johnson – Expansion
- Hole JN21-0900-181-X02 returned 1.2 feet (0.4 meters) of 1.31
oz/t (45.7 g/t) gold
- Hole JN21-0900-181-X04 returned 4.3 feet (1.3 meters) of 0.34
oz/t (11.7 g/t) gold
- Hole JN21-0900-181-X05 returned 3.6 feet (1.1 meters) of 0.72
oz/t (24.7 g/t) gold
- New Southern Silver zone at Silvertip continues to
demonstrate growth potential – New surface and underground
drilling has discovered a flat-lying “manto” portion of the
Southern Silver zone. As highlighted below, the manto appears to be
thicker in places than the previously drilled vertical breccia
zones interpreted as mineralized feeder structures. After further
analysis, the Company believes several other manto-feeder
relationships may be present at the Discovery, Camp Creek and
Central zones, and that underground drilling is the best approach
to test these types of structures. Notable expansion drilling assay
results from the Southern Silver zone manto mineralization
include:
- Hole 65Z21-485-007-005 returned 65.6 feet (20.0 meters) of 2.7
oz/t (92.5 g/t) silver, 16.9% zinc and 0.5% lead
- Hole 65Z21-485-DDS1-015 returned 35.4 feet (10.8 meters) of
13.0 oz/t (445.7 g/t) silver, 19.4% zinc and 7.5% lead and 17.1
feet (5.2 meters) of 18.0 oz/t (617.1 g/t) silver, 7.7% zinc and
12.0% lead
- Positive results from largest drilling campaign at Wharf
since acquisition – New significant oxide-gold assays were
recently returned from the Portland Ridge – Boston claim group and
Flossie area. Key highlights from the 2021 infill drilling campaign
include:
- Hole W21R-4781 returned 120 feet (36.6 meters) of 0.22 oz/t
(7.5 g/t) gold
- Hole W21R-4826 returned 200 feet (61.0 meters) of 0.12 oz/t
(4.1 g/t) gold
- Hole W21R-4812 returned 40 feet (12.2 meters) of 0.31 oz/t
(10.6 g/t) gold
- Hole W21R-4827 returned 70 feet (21.3 meters) of 0.14 oz/t (4.8
g/t) gold
“Our 2021 exploration program accelerated during the summer
months with 27 rigs active across six sites,” said Hans J.
Rasmussen, Coeur’s Senior Vice President of Exploration. “We remain
on-track to deliver the largest exploration campaign in Company
history and are regularly setting new monthly drilling records. We
expect to complete roughly 1.2 million feet (365,750 meters) of
drilling by the end of the year, with the primary objective of
further extending mine lives across our portfolio. These goals,
along with our track record of consistently growing our reserve and
resource base through the drill bit, are true differentiators for
Coeur. Assays from both Palmarejo and Silvertip continue to
demonstrate significant growth potential, further validating our
commitment to a higher-level of exploration investment at each
site. The Hidalgo zone at Palmarejo represents the most significant
near-mine opportunity since our focused exploration program began
in 2012.”
Mr. Rasmussen continued, “Assay and drill thicknesses from the
southern portion of Silvertip continue to exceed our expectations,
specifically from the Southern Silver and Camp Creek zones.
Additionally, airborne geophysical models suggest that these zones
may continue another mile and a quarter (two kilometers) from our
current drilling positions. Positive results like these, along with
continued exploration success at Kensington and Wharf, give us
confidence that we are making progress toward achieving our 2021
exploration objectives.”
For a complete table of all drill results, please refer to the
following link:
https://www.coeur.com/_resources/news/2021-09-09-Exploration-Update.pdf.
Please see the “Cautionary Statements” section for additional
information regarding drill results.
Palmarejo2,3
Coeur has drilled a total of approximately 149,200 feet (45,475
meters) from up to eight diamond core rigs across six different
zones (three infill targets and three expansion targets) through
the first seven months of 2021, compared to roughly 118,600 feet
(36,150 meters) during the same period in 2020.
Key highlights from the 2021 exploration program include:
Hidalgo zone (Independencia deposit)
- Up to four active rigs (two infill and two expansion)
- As previously discussed in Coeur’s February 17, 2021 news
release, mineralization typically consists of several vein
intercepts creating wide, high-grade “clavos” where mine planning
could incorporate larger transverse stopes that support higher
production rates
- Strategically located near existing mine infrastructure which
has the potential to facilitate shorter development time to
commence production
- Drill assay intervals have continued to produce the best
grade-thickness at Palmarejo since drilling at the historic Clavo
76 prior to 2013
La Patria zone (Guadalupe deposit)
- Infill drilling with one drill rig has continued the
exploration program that began in 2020, focusing on areas of
historic drilling
- A second rig is currently being mobilized to test expansion
targets to the southeast of the current resource area
North Independencia zone (Independencia deposit)
- Once the infill program is completed (currently estimated
around mid-2022), Coeur plans to begin expansion drilling further
northwest of the current resource limits
Guazapares district (greenfields exploration)
- Field reconnaissance has identified areas of surface alteration
and quartz veining east of Palmarejo in the Guazapares district,
which was acquired in 2015 as part of the acquisition of Paramount
Gold and Silver Corp., sits outside the gold stream area of
interest and totals nearly 15,000 hectares. Drill permitting at an
initial target area (Carmela) is currently underway with the
objective of commencing drilling at this new target by the end of
the year
Coeur plans to transition its focus on various resource
expansion targets in the remainder of 2021, while also continuing
the infill program at the Independencia North, Hidalgo and La
Patria zones. The Company’s priority targets for expansion drilling
during the remainder of the year include (i) expanding the Hidalgo
zone northwest towards the haul road, (ii) extending the North
Independencia zone, (iii) drilling the southeast extension of the
La Patria zone, (iv) scout drilling of the El Ojito zone, located
in the northeastern portion of the Independencia deposit and
subparallel to the Hidalgo zone, and (v) testing the new Carmela
target located to the east within the Guazapares district.
Palmarejo 2021 Production & Exploration Guidance and
Year-End 2020 Reserves and Resources:
- 2021E Production4: 100,000 - 110,000 ounces of gold and 6.5 -
7.8 million ounces of silver
- 2021E Exploration Investment1: Approximately $14 million ($9
million expensed and $5 million capitalized)
- 2020 Proven and Probable Reserves: 849,000 ounces of gold at an
average grade of 0.06 oz/t (1.9 g/t) and 59.4 million ounces of
silver at an average grade of 3.9 oz/t (132.8 g/t)
- 2020 Measured and Indicated Resources: 613,000 ounces of gold
at an average grade of 0.05 oz/t (1.6 g/t) and 51.1 million ounces
of silver at an average grade of 3.8 oz/t (130.6 g/t)
- 2020 Inferred Resources: 280,000 ounces of gold at an average
grade of 0.06 oz/t (2.2 g/t) and 14.5 million ounces of silver at
an average grade of 3.3 oz/t (114.6 g/t)
Kensington2,3
The 2021 Kensington exploration program started with two
underground core rigs focused on infill drilling along the Elmira
and Jualin vein structures. A limited number of expansion holes
were also drilled into Johnson, located about 500 feet (150 meters)
east of Elmira. Early in the third quarter, the Company ramped up
to five core rigs, including three underground and two surface core
rigs. Through the first seven months of 2021, Coeur drilled
approximately 86,600 feet (26,395 meters) at Kensington compared to
roughly 88,900 feet (27,100 meters) during the same period in
2020.
Elmira and the development drift established in late 2020
represent potential areas of future mining at Kensington. The
Company plans to continue drilling these areas while focusing on
refining the vein shapes through 2022. Coeur expects to declare a
maiden reserve for Elmira at the end of the year with the goal of
mining the deposit beginning in early 2023.
Additionally, Coeur has drilled the Johnson vein structure from
the same platforms it used to test Elmira. The Company has
completed approximately 23 holes into Johnson since the beginning
of the year. Resource shapes for the new intercepts are still in
the earliest phase of interpretation. Johnson also outcrops on
surface where it has returned strong gold assays, representing
about 1,000 feet (300 meters) of vertical dip length.
For the remainder of 2021, Coeur plans to (i) prioritize infill
drilling at upper Kensington Zone 30, (ii) continue infill and
expansion drilling around the edges of Elmira, (iii) conduct
surface expansion drilling at upper Raven and Johnson, and (iv)
execute helicopter-supported step-out drilling at the Comet, Big
Lake and Gold King targets.
Kensington 2021 Production & Exploration Guidance and
Year-End 2020 Reserves and Resources:
- 2021E Production4: 115,000 - 130,000 ounces of gold
- 2021E Exploration Investment1: Approximately $13 million ($9
million expensed and $4 million capitalized)
- 2020 Proven and Probable Reserves: 331,000 ounces of gold at an
average grade of 0.20 oz/t (6.8 g/t)
- 2020 Measured and Indicated Resources: 830,000 ounces of gold
at an average grade of 0.23 oz/t (7.9 g/t)
- 2020 Inferred Resources: 394,000 ounces of gold at an average
grade of 0.25 oz/t (8.5 g/t)
Silvertip2,3
Coeur began the year drilling Silvertip with five surface rigs
and one underground core rig focused on resource expansion, while
also conducting infill drilling on select areas of the deposit to
convert existing resources to reserves. Through first seven months
of 2021, Coeur drilled approximately 199,900 feet (60,950 meters)
at Silvertip compared to roughly 88,300 feet (26,925 meters) during
the same period in 2020.
The Company’s news release on June 15, 2021 highlighted the
discovery of the new Southern Silver zone, located adjacent to and
enveloping the historic 65 zone manto mineralization. At that time,
the new zone was interpreted to be primarily a series of vertically
oriented breccia material with encouraging thicknesses and grades.
Based on the positive results, the Company continued to advance
underground development to support additional drilling in the area,
which is now underway.
Recent drilling has encountered flat-lying, manto-style
mineralization with meaningful thicknesses, highlighting the
potential to grow resource tonnage with additional drilling. These
results suggest that the ore body in the zone consists of both
vertical- and flat-lying manto-style mineralization. Notably, this
new interpretation may apply to other zones at Silvertip that have
not yet had the benefit of underground drilling to test for both
vertical- and flat-lying mineralization which could lead to higher
angle structures that support additional resource tonnage.
Furthermore, the latest drill core is beginning to demonstrate
that the mineralization within the Southern Silver zone continues
to the southwest, south and southeast, connecting with the Camp
Creek, Tour Ridge and Discovery zones, respectively.
Silvertip 2021 Exploration Guidance and Year-End 2020 Reserves
and Resources:
- 2021E Exploration Investment1: Approximately $18 million ($15
million expensed and $3 million capitalized)
- 2020 Proven and Probable Reserves: 14.6 million ounces of
silver at an average grade of 8.1 oz/t (278.2 g/t), 296.1 million
pounds of zinc at an average grade of 8.2% and 193.2 million pounds
of lead at an average grade of 5.4%
- 2020 Measured and Indicated Resources: 17.4 million ounces of
silver at an average grade of 7.4 oz/t (255.0 g/t), 442.1 million
pounds of zinc at an average grade of 9.4% and 216.5 million pounds
of lead at an average grade of 4.6%
- 2020 Inferred Resources: 12.0 million ounces of silver at an
average grade of 8.3 oz/t (283.3 g/t), 308.7 million pounds of zinc
at an average grade of 10.6% and 143.9 million pounds of lead at an
average grade of 5.0%
Wharf2,3
In early 2021, Coeur initiated the largest drilling campaign at
Wharf since it acquired the operation in 2015. The Company plans to
invest approximately $5 million1 on exploration at Wharf this year
– roughly the same amount spent cumulatively since acquisition5.
Through the first seven months of 2021, Coeur drilled approximately
85,800 feet (26,175 meters) at Wharf compared to roughly 10,600
feet (3,225 meters) during the same period in 2020.
The Company has essentially achieved its target drill footage
for the year, efficiently reaching its goal approximately 30% under
budget. Building on this momentum, Coeur plans to keep one active
rig turning at Wharf for the rest of the year.
Coeur is targeting oxide-gold hosted in the Deadwood Formation.
The team has received about half the outstanding drill assays with
roughly 40% of the holes returning results above resource grade
thickness cutoff. Based on information received thus far, the
Company expects to incorporate these results into its year-end 2021
resource model.
Wharf 2021 Production & Exploration Guidance and Year-End
2020 Reserves and Resources:
- 2021E Production4: 85,000 - 95,000 ounces of gold
- 2021E Exploration Investment1: Approximately $5 million
(substantially all capitalized)
- 2020 Proven and Probable Reserves: 720,000 ounces of gold at an
average grade of 0.03 oz/t (0.9 g/t)
- 2020 Measured and Indicated Resources: 605,000 ounces of gold
at an average grade of 0.02 oz/t (0.8 g/t)
- 2020 Inferred Resources: 67,000 ounces of gold at an average
grade of 0.02 oz/t (0.7 g/t)
About Coeur
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing
precious metals producer with five wholly-owned operations: the
Palmarejo gold-silver complex in Mexico, the Rochester silver-gold
mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold
mine in South Dakota, and the Silvertip silver-zinc-lead mine in
British Columbia. In addition, the Company has interests in several
precious metals exploration projects throughout North America.
Cautionary Statements
This news release contains forward-looking statements within the
meaning of securities legislation in the United States and Canada,
including statements regarding exploration efforts and plans,
exploration expenditures, drill results, growth, extended mine
lives, grade, thickness, investments, mine expansion and
development plans, resource delineation, expansion, upgrade or
conversion. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause
Coeur’s actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, among others, the risk that
anticipated additions or upgrades to reserves and resources are not
attained, the risk that planned drilling programs may be curtailed
or canceled due to budget constraints or other reasons, the risks
and hazards inherent in the mining business (including risks
inherent in developing large-scale mining projects, environmental
hazards, industrial accidents, weather or geologically related
conditions), changes in the market prices of gold, silver, zinc and
lead and a sustained lower price environment, the uncertainties
inherent in Coeur’s production, exploratory and developmental
activities, including risks relating to permitting and regulatory
delays (including the impact of government shutdowns), ground
conditions, grade variability, any future labor disputes or work
stoppages, the uncertainties inherent in the estimation of mineral
reserves, the potential effects of the COVID-19 pandemic, including
impacts to the availability of our workforce, continued access to
financing sources, government orders that may require temporary
suspension of operations at one or more of our sites and effects on
our suppliers or the refiners and smelters to whom the Company
markets its production, changes that could result from Coeur’s
future acquisition of new mining properties or businesses, the loss
of any third-party smelter to which Coeur markets its production,
the effects of environmental and other governmental regulations,
the risks inherent in the ownership or operation of or investment
in mining properties or businesses in foreign countries, Coeur’s
ability to raise additional financing necessary to conduct its
business, make payments or refinance its debt, as well as other
uncertainties and risk factors set out in filings made from time to
time with the United States Securities and Exchange Commission, and
the Canadian securities regulators, including, without limitation,
Coeur’s most recent reports on Form 10-K and Form 10-Q. Actual
results, developments and timetables could vary significantly from
the estimates presented. Readers are cautioned not to put undue
reliance on forward-looking statements. Coeur disclaims any intent
or obligation to update publicly such forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, Coeur undertakes no obligation to comment on
analyses, expectations or statements made by third parties in
respect of Coeur, its financial or operating results or its
securities.
Christopher Pascoe, Coeur’s Director, Technical Services and a
qualified person under Canadian National Instrument 43-101,
approved the scientific and technical information concerning
Coeur’s mineral projects in this news release. For a description of
the key assumptions, parameters and methods used to estimate
mineral reserves and resources, as well as data verification
procedures and a general discussion of the extent to which the
estimates may be affected by any known environmental, permitting,
legal, title, taxation, socio-political, marketing or other
relevant factors, Canadian investors should refer to the Technical
Reports for each of Coeur’s properties as filed on SEDAR at
www.sedar.com.
Notes
The potential quantity and grade for the deposits described
herein are conceptual in nature. There is insufficient exploratory
work to define a mineral resource and it is uncertain if further
exploration will result in the applicable target being delineated
as a mineral resource.
- Reflects midpoint of guidance as published by Coeur on July 28,
2021.
- For a complete table of all drill results included in this
release, please refer to the following link:
https://www.coeur.com/_resources/news/2021-09-09-Exploration-Update.pdf.
- Rounding of grades, to significant figures, may result in
apparent differences.
- Guidance as published by Coeur on July 28, 2021.
- Reflects cumulative investment in exploration at Wharf between
2015 and 2020.
2020 Year-End Proven and Probable Reserves
Grade Contained Gold Silver Zinc Lead Gold Silver Zinc Lead Short
tons (oz/t) (oz/t) (%) (%) (oz) (oz) (lbs) (lbs)
PROVEN
RESERVES Palmarejo
4,040,000
0.067
4.29
-
-
270,000
17,344,000
-
-
Rochester
396,867,000
0.003
0.41
-
-
1,047,000
162,645,000
-
-
Kensington
814,000
0.195
-
-
-
159,000
-
-
-
Wharf
19,181,000
0.024
-
-
-
462,000
-
-
-
Silvertip
186,000
-
12.01
10.14%
8.53%
-
2,233,000
37,647,000
31,656,000
Total
421,088,000
0.005
0.43
1,938,000
182,222,000
37,647,000
31,656,000
PROBABLE RESERVES Palmarejo
11,297,000
0.051
3.72
-
-
579,000
42,057,000
-
-
Rochester
62,554,000
0.003
0.37
-
-
172,000
22,863,000
-
-
Kensington
862,000
0.200
-
-
-
172,000
-
-
-
Wharf
9,186,000
0.028
-
-
-
258,000
-
-
-
Silvertip
1,618,000
-
7.67
7.98%
4.99%
-
12,403,000
258,418,000
161,569,000
Total
85,518,000
0.014
0.90
1,181,000
77,323,000
258,418,000
161,569,000
PROVEN AND PROBABLE RESERVES Palmarejo
15,337,000
0.055
3.87
-
-
849,000
59,400,000
-
-
Rochester
459,421,000
0.003
0.40
-
-
1,219,000
185,508,000
-
-
Kensington
1,676,000
0.197
-
-
-
331,000
-
-
-
Wharf
28,367,000
0.025
-
-
-
720,000
-
-
-
Silvertip
1,804,000
-
8.11
8.21%
5.36%
-
14,636,000
296,065,000
193,225,000
Total
506,606,000
0.006
0.51
3,119,000
259,545,000
296,065,000
193,225,000
2020 Year-End Measured and Indicated Resources
Grade Contained Gold Silver Zinc Lead Gold Silver Zinc Lead Short
tons (oz/t) (oz/t) (%) (%) (oz) (oz) (lbs) (lbs)
MEASURED
RESOURCES Palmarejo
1,840,000
0.052
3.67
-
-
95,000
6,746,000
-
-
Rochester
240,568,000
0.002
0.24
-
-
388,000
57,160,000
-
-
Kensington
2,390,000
0.233
-
-
-
556,000
-
-
-
Wharf
12,992,000
0.019
-
-
-
245,000
-
-
-
Silvertip
138,000
-
11.17
9.83%
7.88%
-
1,541,000
27,050,000
21,670,000
Lincoln Hill
4,642,000
0.012
0.34
-
-
58,000
1,592,000
-
-
La Preciosa
9,536,000
0.005
3.04
-
-
45,000
29,001,000
-
-
Total
272,106,000
0.005
0.35
1,387,000
96,040,000
27,050,000
21,670,000
INDICATED RESOURCES Palmarejo
11,591,000
0.045
3.83
-
-
518,000
44,398,000
-
-
Rochester
57,452,000
0.002
0.25
-
-
102,000
14,207,000
-
-
Kensington
1,204,000
0.228
-
-
-
274,000
-
-
-
Wharf
12,717,000
0.028
-
-
-
360,000
-
-
-
Silvertip
2,206,000
-
7.20
9.41%
4.41%
-
15,892,000
415,000,000
194,780,000
Lincoln Hill
27,668,000
0.011
0.31
-
-
306,000
8,655,000
-
-
La Preciosa
19,141,000
0.006
3.98
-
-
118,000
76,185,000
-
-
Total
131,979,000
0.013
1.21
1,678,000
159,337,000
415,000,000
194,780,000
MEASURED AND INDICATED RESOURCES Palmarejo
13,431,000
0.046
3.81
-
-
613,000
51,144,000
-
-
Rochester
298,020,000
0.002
0.24
-
-
489,000
71,368,000
-
-
Kensington
3,594,000
0.231
-
-
-
830,000
-
-
-
Wharf
25,710,000
0.024
-
-
-
605,000
-
-
-
Silvertip
2,344,000
-
7.44
9.43%
4.62%
-
17,433,000
442,050,000
216,450,000
Lincoln Hill
32,310,000
0.011
0.32
-
-
364,000
10,247,000
-
-
La Preciosa
28,677,000
0.006
3.67
-
-
163,000
105,186,000
-
-
Total
404,086,000
0.008
0.63
3,064,000
255,377,000
442,050,000
216,450,000
2020 Year-End Inferred Resources
Grade Contained Gold Silver Zinc Lead Gold Silver Zinc Lead Short
tons (oz/t) (oz/t) (%) (%) (oz) (oz) (lbs) (lbs)
INFERRED
RESOURCES Palmarejo
4,345,000
0.064
3.34
-
-
280,000
14,525,000
-
-
Rochester
226,049,000
0.002
0.27
-
-
409,000
61,671,000
-
-
Kensington
1,597,000
0.247
-
-
-
394,000
-
-
-
Wharf
3,389,000
0.020
-
-
-
67,000
-
-
-
Silvertip
1,452,000
-
8.26
10.63%
4.95%
-
11,998,000
308,700,000
143,880,000
Lincoln Hill
22,952,000
0.011
0.36
-
-
255,000
8,163,000
-
-
Sterling
31,903,000
0.028
-
-
-
903,000
-
-
-
Wilco
25,736,000
0.021
0.13
-
-
531,000
3,346,000
-
-
La Preciosa
1,761,000
0.003
3.31
-
-
6,000
5,835,000
-
-
Total
319,186,000
0.009
0.33
2,845,000
105,538,000
308,700,000
143,880,000
Notes to above Mineral Reserves and Resources:
- The qualified person for Mineral Reserve and Mineral Resources
estimates is Christopher Pascoe, Coeur's Director, Technical
Services.
- Mineral Reserve and Mineral Resource estimates are effective
December 31, 2020.
- Assumed metal prices for estimated Mineral Reserves were $1,400
per ounce of gold, $17.00 per ounce of silver, $1.15 per pound of
zinc, $0.95 per pound of lead.
- Assumed metal prices for estimated Mineral Resources were
$1,600 per ounce of gold, $20.00 per ounce of silver, $1.30 per
pound of zinc, $1.00 per pound of lead, except Lincoln Hill and
Wilco at $1,350 per ounce of gold and $22.00 per ounce of silver,
and La Preciosa at $1,500 per ounce of gold and $20.00 per ounce of
silver.
- Mineral Resources are in addition to Mineral Reserves and do
not have demonstrated economic viability. Inferred Mineral
Resources are considered too speculative geologically to have the
economic considerations applied to them that would enable them to
be considered for estimation of Mineral Reserves, and there is no
certainty that the Inferred Mineral Resources will be
realized.
- Rounding of tons and ounces, as required by reporting
guidelines, may result in apparent differences between tons, grade,
and contained metal content.
- Excludes the impact of the gold stream agreement at
Palmarejo.
- For details on the estimation of mineral resources and
reserves, including the key assumptions, parameters and methods
used to estimate the Mineral Resources and Mineral Reserves,
Canadian investors should refer to the NI 43-101 Technical Reports
for Coeur's properties on file at www.sedar.com.
Conversion Table
1 short ton
=
0.907185 metric tons
1 troy ounce
=
31.10348 grams
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210909005142/en/
Coeur Mining, Inc. 104 S. Michigan Avenue, Suite 900 Chicago,
Illinois 60603 Attention: Paul DePartout, Director, Investor
Relations Phone: (312) 489-5800 www.coeur.com
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