Positive results from Coeur’s largest and most
successful drilling program helps to drive largest reserve base in
Company history
Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today
reported its 2020 mineral reserves and resources, and provided an
update on its 2020 exploration programs at its Palmarejo and
Kensington operations, following its mid-year update on August 11,
2020. Coeur also highlighted new drilling results at the
recently-discovered C-Horst zone at the Crown exploration property
in southern Nevada. The drilling campaigns at the Company’s
Rochester and Silvertip mines as well as Crown and Sterling
exploration properties were discussed during Coeur’s Investor Day
on December 17, 2020.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210217005125/en/
Palmarejo - Plan View (Graphic: Business
Wire)
Key Highlights1,2
- Positive results at Rochester and Palmarejo drove
Companywide reserve growth – Successful drilling campaigns and
resource conversions, net of depletion, drove strong double-digit
reserve growth for both gold and silver at Rochester and Palmarejo.
These positive results led to a 22% and 42% year-over-year increase
in Companywide gold and silver reserves, respectively
- Significant increase in Silvertip’s resource base –
Coeur significantly increased the size of its resource base at
Silvertip, following the execution of the largest and most
successful exploration program in the history of the property.
Silver, zinc and lead measured and indicated resources increased by
approximately 50%, 45% and 50%, respectively. Similarly, silver,
zinc and lead inferred resources grew by approximately 46%, 69% and
37%, respectively
- Continued growth in measured and indicated resources –
Measured and indicated resources were higher across all metals for
the second consecutive year. Gold and silver measured and indicated
resources increased 18% and 5%, respectively. The double-digit
growth in measured and indicated gold resources was driven by
significant additions at Palmarejo and Wharf, while slightly higher
measured and indicated silver resources reflects additions at
Palmarejo and Silvertip
- Expansion drilling at Palmarejo targeted new, high-grade
discoveries – Expansion drilling north and west of the
Independencia deposit returned positive results that highlight the
potential for future reserve growth. Specifically, 90% of drill
holes completed at the Hidalgo zone over the past two years
returned intercepts above ore-grade cutoff over mineable widths.
Importantly, the Hidalgo zone is adjacent to infrastructure and
runs sub-parallel to the main haul road, trending towards the
Palmarejo mill. Drilling into the zone has produced some of the
highest grade-thickness intercepts recorded in the expansion
program outside of the legacy Palmarejo mine. Drilling also
successfully expanded the known extents of the principal
Independencia deposit to the north. Notable results from the
program include:
Hidalgo zone (Independencia deposit)
- Hole HGDH_032 returned 42.0 feet (12.8 meters) of 0.31 oz/t
ounces per ton (“oz/t”) (10.8 grams per tonne (“g/t”)) gold and
12.4 oz/t (425.0 g/t) silver, and
- Hole HGDH_035 returned 10.2 feet (3.1 meters) of 0.59 oz/t
(20.1 g/t) gold and 77.2 oz/t (2,646.9 g/t) silver
North Independencia (Independencia deposit)
- VIDH_156 returned 3.0 feet (0.9 meters) of 1.72 oz/t (59.0 g/t)
gold and 17.5 oz/t (598.5 g/t) silver
- New potential high-grade growth areas outside existing
mining area at Kensington – Drilling throughout 2020 was
successful in expanding Eureka, Elmira, Johnson, Raven and Upper
Kensington. All are located near existing infrastructure and
represent new potential resource growth areas for the next three to
five years. Key highlights include:
Eureka
- Hole EU20-2050-216-X03 returned 16.8 feet (5.1 meters) of 0.98
oz/t (33.7 g/t) gold
- Hole EU20-2050-216-X10 returned 7.3 feet (2.2 meters) of 1.41
oz/t (48.4 g/t) gold and 3.2 feet (1.0 meters) of 1.84 oz/t (63.1
g/t) gold
Elmira
- Hole EL20-0850-156-X15 returned 1.1 feet (0.3 meters) of 5.45
oz/t (186.9 g/t) gold
Northern Belle (hanging wall structure of Upper Kensington)
- NB20-1710-218-X02 returned 19.4 feet (5.9 meters) of 0.24 oz/t
(8.1 g/t) gold, 6.0 feet (1.8 meters) of 0.42 oz/t (14.4 g/t) gold,
and 1.1 feet (0.3 meters) of 2.01 oz/t (69.1 g/t) gold
- New results continue to highlight growth potential
at C-Horst (Crown) – New significant assays were
returned from the eastern and western edges of the
recently-discovered C-horst zone at the Crown exploration property
in southern Nevada. The positive results demonstrate vertical
thickness of mineralization and the potential for additional growth
with continued drilling. Notable assay results include:
- Hole CH20-021 returned 710.0 feet (216.4 meters) of 0.03 oz/t
(0.9 g/t) gold
“2020 was the largest and most effective drilling campaign in
the history of Coeur, and we plan to build on this momentum over
the next few years,” said Hans J. Rasmussen, Coeur’s Senior Vice
President of Exploration. “Results are just beginning to
demonstrate the quality and potential of our assets with
record-setting reserve growth at Rochester, significant additions
at Palmarejo and Silvertip, new discoveries in southern Nevada as
well as wider portions of mineralization found in upper Kensington.
On the back of these excellent results, and with a larger budget in
hand, the site teams are preparing for another aggressive year of
aiming to continue growing reserves and resources from our
inventory of drill-ready targets. We have already mobilized 21
drill rigs at our six sites with the goal of making 2021 even more
successful than 2020.”
“We launched several aggressive drilling campaigns in 2020 in
the pursuit of potential mine life extensions and high-return
organic growth opportunities. Our efforts were successful on
multiple fronts, as demonstrated by significant increases in
reserves at Rochester and Palmarejo which led to the largest level
of total reserves in our history,” said Mitchell J. Krebs, Coeur’s
President and Chief Executive Officer. “Additionally, our results
at Kensington, Silvertip and Crown were particularly encouraging,
and represent future growth opportunities for the Company.
Transitioning our focus to 2021, we will remain keenly focused on
generating meaningful results by sustaining a higher-level of
exploration investment. Our main objectives for the year include
(i) further expanding the resource base at our existing operations,
with specific emphasis on Crown and Silvertip, and (ii) pursuing
new discoveries at Palmarejo and Kensington. Our ability to achieve
these objectives will be an important catalyst to driving higher
returns on invested capital, growing net asset value and generating
long-term value at Coeur.”
For a complete table of all drill results, please refer to the
following link:
https://www.coeur.com/_resources/pdfs/2021-02-17-RR-Exploration-Update-Appendix-Final.pdf.
Please see the “Cautionary Statements” section for additional
information regarding drill results.
Year-End 2020 Proven and Probable Reserves
Year-end 2020 proven and probable reserves totaled 3.1 million
ounces of gold, 259.5 million ounces of silver, 296.1 million
pounds of zinc and 193.2 million pounds of lead. Gold and silver
reserve increases in 2020 were largely driven by the replacement of
depletion and successful conversions at both Rochester and
Palmarejo. Zinc and lead reserves were relatively consistent
year-over-year given the Company’s focus on near-mine resource
expansion and larger step-out drilling at Silvertip.
Coeur increased its gold price assumption for year-end 2020
reserves from $1,350 per ounce to $1,400 per ounce. The Company’s
reserve price assumption for silver, zinc and lead remained
unchanged at $17.00 per ounce, $1.15 per pound and $0.95 per pound,
respectively.
Year-End 2020 Measured and Indicated, and Inferred
Resources
Measured and indicated resources totaled 3.1 million ounces of
gold, 255.4 million ounces of silver, 442.1 million pounds of zinc
and 216.5 million pounds of lead, reflecting a second consecutive
year of increases across all metals. Solid measured and indicated
resource growth was driven by additions from Palmarejo, Kensington
and Silvertip.
Inferred resources were 2.8 million ounces of gold, 105.5
million ounces of silver, 308.7 million pounds of zinc and 143.9
million pounds of lead. Inferred gold and silver resources
decreased modestly year-over-year largely due to successful
conversions, partially offset by additions at Rochester, Kensington
and Silvertip. Zinc and lead inferred resources significantly
increased year-over-year due to successful expansion drilling at
Silvertip.
The Company increased its gold price assumption for year-end
2020 resources from $1,500 per ounce to $1,600 per ounce. Coeur’s
resource price assumption for silver and zinc remained consistent
at $20.00 per ounce and $1.30 per pound, respectively, while its
lead resource price assumption decreased from $1.05 per pound to
$1.00 per pound.
Exploration Update1,2
The primary focus of Coeur’s 2020 exploration program was
resource expansion and new discoveries, including prospective
step-out drilling on certain targets designed to test known
boundaries of existing mineralization. Drilling was active at six
of the Company’s sites during the year with each program delivering
positive results, including new discoveries at Palmarejo,
Kensington and Crown.
Palmarejo
Coeur’s exploration program at Palmarejo in 2020 reflected a
relatively balanced approach of (i) larger step-out drilling to
discover new mineralization, and (ii) infill drilling to convert
existing resources, aimed at extending mine life. Up to seven rigs
were active during the second half of 2020, focusing primarily on
resource expansion targets.
A total of approximately 226,000 feet (68,850 meters) were
drilled in 2020 from 180 drillholes (106 infill and 74 expansion)
across 11 targets, compared to roughly 200,500 feet (61,075) in
2019 from 148 drillholes (85 infill and 63 expansion).
As discussed in Coeur’s mid-year 2020 exploration update, infill
drilling during the first half of the year focused on the Guadalupe
and Independencia deposits. During the second half of the year,
infill drilling targeted the La Patria zone of the Guadalupe
deposit and the La Bavisa zone of the Independencia deposit.
Encouraging results from drilling in the second half of 2020 were
reported from both zones.
Key highlights from infill drilling include:
La Patria zone (Guadalupe deposit)
- Hole LPDH_228 returning 22.6 feet (6.9 meters) of 0.13oz/t (4.3
g/t) gold and 4.4 oz/t (151.3 g/t) silver, and
- Hole LPDH_232 returning 17.1 feet (5.2 meters) of 0.19 oz/t
(6.4 g/t) gold and 5.2 oz/t (178.7 g/t) silver
La Bavisa zone (Independencia deposit)
- Hole BVDH_055 returning 11.2 feet (3.4 meters) of 0.08 oz/t
(2.8 g/t) gold and 15.3 oz/t (525.0 g/t) silver
The expansion drilling program focused on new zones and
extensions of the Independencia deposit, specifically the northern
extension of the principal Independencia structural zone, the
Hidalgo zone (northwest) and the La Bavisa zone (northeast).
Approximately two thirds of all drillholes from the 2020 expansion
program cut mineralization above the current inferred resource
grade (0.06 oz/t (2.2 g/t) gold and 3.3 oz/t (114.6 g/t) silver)
over mineable widths.
Additional intercepts from the Hidalgo zone include:
- Hole VIDH_147 returning 22.3 feet (6.8 meters) of 0.28 oz/t
(9.7 g/t) gold and 18.7 oz/t (639.9 g/t) silver,
- Hole HGDH_028 returning 36.7 feet (11.2 meters) of 0.18 oz/t
(6.1 g/t) gold and 12.6 oz/t (430.7 g/t) silver, and
- Hole HGDH_037 returning 19.7 feet (6.0 meters) of 0.27 oz/t
(9.1 g/t) gold and 16.6 oz/t (568.3 g/t) silver
Additional intercepts from the northern extension of the
Independencia deposit include:
- Hole VIDH_154 returning 10.2 feet (3.1 meters) of 0.21 oz/t
(7.3 g/t) gold and 10.4 oz/t (354.9 g/t) silver
The Company’s exploration team continues to refine its
understanding of the geologic model for Palmarejo. Detailed surface
mapping and sampling of several new targets generated by a
project-wide, multi-variant prospectivity analysis have resulted in
the definition of several new drill targets for testing in
2021.
Priority targets for the 2021 drilling program include: (i)
expansion of the Hidalgo zone northwest towards the processing
plant and haul road, and (ii) the extension of the north
Independencia zone.
Additionally, two new targets for drill testing in 2021 include:
(i) the Palmarejo North zone, strategically located to the north of
the processing plant, and (ii) the El Ojito zone, located to the
north and west of the Independencia deposit and subparallel to the
Hidalgo zone.
Results from a high-density soil sampling program utilizing both
geochemical and hyper-spectral data have confirmed that these
technologies are suitable for use in areas of limited outcrop. With
these new studies in hand, the soil sampling program is expected to
be expanded in 2021, complementing the traditional surface mapping
and sampling program. This target definition program is scheduled
to continue throughout 2021, focusing on proximity to the main mine
complex areas as well as new highly prospective targets across the
more than 67,000-acre (27,000-hectare) land package.
The 2021 infill drilling program is expected to target resource
conversion at the Independencia North and Hidalgo zones, the
southwest extension of the principal Independencia deposit and the
La Patria zone of the Guadalupe deposit. Coeur plans to prioritize
infill drilling during the first half of the year, transitioning to
expansion drilling during the second half of 2021.
All drill permits for the 2021 programs have been secured, and
the Company plans to continue aggressively drilling resource
expansion targets in high priority areas, with seven drill rigs
currently at site and an eighth rig scheduled to arrive during the
second quarter.
Kensington
The 2020 exploration program at Kensington built on the success
of the 2019 drilling campaign, aiming to add higher-grade resources
near existing mine infrastructure with the ultimate goal of
extending Kensington’s mine life with new reserves. Up to four core
rigs were active during the year drilling approximately 156,100
feet (47,575 meters) in 173 holes, compared to roughly 127,600 feet
(38,925 meters) in 154 holes during 2019.
The Company’s top priorities for 2020 included: (i) underground
expansion drilling at upper Kensington Zone 30, Eureka and Raven,
(ii) surface expansion drilling of upper Raven and Johnson, (iii)
step-out drilling at Big Lake, and (iv) infill and expansion
drilling at Elmira and Johnson, respectively, from a new
development drift established in the fourth quarter of 2020. Coeur
successfully achieved all of its objectives for the year as
highlighted in the graphic below:
Key highlights from the priority list described above included
helicopter-supported surface drilling and underground drilling
within the uppermost 2050-level of the Kensington mine. All of the
zones drilled during the year appear to be getting wider in the
upper portions of the structures, both from surface and from
drilling underground on the 2050-level of the Kensington mine. New
areas tested at higher-elevations included: (i) Johnson, where an
additional 700 feet (225 meters) of strike length was tested from
surface holes, and (ii) four new areas above existing
infrastructure that were expanded, including upper Raven, Jennifer
(near Raven), upper Kensington Zone 30, and Northern Belle (near
the Kensington Main deposit).
Coeur expects to increase its exploration investment at
Kensington during 2021, giving more priority to infill drilling and
its resource conversion program, while also maintaining a similar
focus on resource expansion drilling year-over-year. The Company
began the year with two underground rigs targeting Elmira and
Johnson. Both surface and underground drilling on Johnson
identified discrete mineralization that Coeur expects to target in
its expansion drilling program in 2021. Drilling at Elmira also
regularly intercepted mineralized material in both the footwall and
hanging wall situated near the center of the vein, highlighting
continued opportunity for growth toward the southern portion of
Elmira. Additionally, interpretation and modeling of the 2020 assay
results from Elmira, Eureka, Johnson, Northern Belle and Raven
drilling are currently underway. Once the results are interpreted,
the Company plans to add a third underground core rig to continue
expansion drilling on the highest priority, near mine, expansion
targets.
Crown
Coeur’s 2020 drilling campaign at the Crown exploration property
in southern Nevada was its most aggressive program at the site
since acquiring the property in October 2018. After receiving assay
results from the second hole at the C-Horst target in April 2020,
the program accelerated to include two reverse circulation rigs and
one core rig by the middle of the year. For the full year, a total
of 85,600 feet (26,100 meters) in 72 holes were drilled, 48 of
which were drilled at C-Horst (approximately 75% above resource
grade thickness cutoff).
Crown also includes three other nearby deposits: (i) Daisy, (ii)
Secret Pass, and (iii) SNA. All of the deposits are disseminated,
oxide-gold resources hosted in Cambrian to Tertiary rocks, and are
all located near one common structure, the Fluorspar Canyon Fault.
The name came from the original fluorite mines in the area.
The same structure connects this area to the historic Bullfrog
Gold Mine, which is located approximately ten miles (16 kilometers)
to the west. A gravity geophysical survey led Coeur’s exploration
team to test the new C-Horst zone. Once discovered, a revised
combined geologic and geophysical interpretation of the entire
Crown area suggested that the Fluorspar Canyon Fault cuts east-west
through Daisy and Secret Pass, then bends to the north at SNA and
cuts the west side of the C-Horst zone. This interpretation was
only possible with the gravity data given that there was no surface
exposure of the Fluorspar Canyon Fault except in the historic
Secret Pass open pit.
For 2021, Coeur’s Beatty, Nevada-based exploration team is
focusing on updates to the new geologic model (graphic on the
right) and the first internal resource model to guide future
exploration activities at C-Horst. Additionally, the Company
expects to conduct step-out drilling in the first half of the year,
targeting areas north of SNA and south of C-Horst in an effort to
tie together regional mineralized faults that were mapped during
2020. Based on the current geologic interpretation, these faults
are thought to link SNA and C-Horst, along the eastern side of the
Crown Block.
Coeur began 2021 with four drill rigs, three reverse circulation
and one core. With the largest exploration budget in the project’s
history, all four rigs are expected to remain active during the
year, conducting metallurgical core drilling and resource expansion
drilling in and around all four resources areas at Crown (i.e.,
Daisy, Secret Pass, SNA and C-Horst).
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, timing of permitting, drill results,
growth, extended mine lives, grade, thickness, investments, mine
expansion and development plans, and resource delineation,
expansion, and 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 report on Form 10-K. 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.
- Complete 2020 drill results for the properties described in
this release are available through the following links:
https://www.coeur.com/_resources/pdfs/2020-08-11_Exploration_Update_Appendix_-_Final.pdf;
https://www.coeur.com/_resources/pdfs/2020-12-17-Investor-Day-Exploration-Update-Appendix-Final.pdf;
https://www.coeur.com/_resources/pdfs/2021-02-17-RR-Exploration-Update-Appendix-Final.pdf.
- Rounding of grades, to significant figures, may result in
apparent differences.
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/20210217005125/en/
For Additional Information 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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