Coeur Announces Positive Exploration Results at Kensington; Large-Scale Drilling Program Ramps Up at Silvertip
- Positive drilling results at Kensington extend mineralization and discover new structures. Silvertip drilling confirms massive sulfide mineralization. Coeur's sustained investment in brownfield exploration contributes to mine life extensions and resource growth. Kensington adds 1.5 years to mine life in 2022. Silvertip resource nearly triples from 2018 to 2022. Coeur committed to long-term organic growth through exploration.
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Figure 1: Recent drill results from Upper Kensington (Graphic: Business Wire)
At
At Silvertip, resource expansion efforts and step-out drilling commenced in July with four rigs now in operation as part of a sustained 18-month, resource expansion exploration program. Visual confirmation of massive sulfide mineralization has been observed in all 16 holes drilled so far in 2023. Between 2018 and 2022, the Company has invested over
Key Highlights1,2
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Mineralization extended at Lower Kensington – Drilling along strike at Lower Kensington has intersected some of the best grade thickness ever encountered at
Kensington , extending mineralization by over 760 feet so far this year. In addition, drilling is beginning to define a new hanging-wall splay and a series of mineralized linking structures. The intersections between the main structures, the splay structures and linking structures are believed to control higher-grade plunging shoots atKensington . Results shown here are the start of a delineation program on these intersections that will continue through 2023 and into 2024. Notable 2023 results from expansion and infill drilling include the following true width intercepts:- Hole K23-0220-125-X01 returned 6.9 feet at 3.31 ounces per ton (“oz/t”) gold (2.1 meters at 113.4 grams per tonne (“g/t”) gold)
- Hole K23-0220-059-X01 returned 11.4 feet at 0.51 oz/t gold (3.5 meters at 17.4 g/t gold)
- Hole K23-0220-059-X06 returned 0.8 feet at 7.0 oz/t gold (0.2 meters at 239.8 g/t gold)
- Hole K23-0220-091-X07 returned 2.6 feet at 1.75 oz/t gold (0.8 meters at 59.9 g/t gold)
- Hole K22-0220-091-X05 returned 0.9 feet at 4.50 oz/t gold 0.3 meters at 154.3 g/t gold) and 0.9 feet at 1.87 oz/t gold (0.3 meters at 64.1 g/t gold)
- Hole K23-0220-091-X05 returned 3.1 feet at 0.74 oz/t gold (0.9 meters at 25.4 g/t gold)
- Hole K23-0220-125-X05 returned 2.5 feet at 0.73 oz/t gold (0.8 meters at 25 g/t gold)
- Hole K23-0220-059-X11 returned 11.2 feet at 0.21 oz/t gold (3.4 meters at 7.1 g/t gold)
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New zone (Zone 30C) discovered at Upper Kensington – Recent expansion drilling at Upper Kensington has led to the discovery of the new Zone 30C zone, with drilling extending mineralization by approximately 400 feet along strike. The drill program at Upper Kensington continues to trace key mineralized structures to the south and down dip and has outlined a new parallel vein structure that already extends 950 feet along strike and 800 feet down dip. Notable results from expansion and infill drilling include the following true width intercepts:
- Hole K23-1485-132-X01 returned 5.0 feet at 3.66 oz/t (1.5 meters at 125.3 g/t gold) and 0.7 feet at 10.46 oz/t gold (0.2 meters at 358.8 g/t gold)
- Hole K22-1485-132-X01 returned 6.1 feet at 0.75 oz/t gold (1.9 meters at 25.8 g/t gold) and 5.4 feet at 0.75 oz/t gold (1.6 meters at 25.6 g/t gold)
- Hole K22-1485-132-X02 returned 10.1 feet at 0.78 oz/t gold (3.1 meters at 26.7 g/t gold)
- Hole K23-1485-132-X09 returned 8.4 feet at 0.83 oz/t gold (2.6 meters at 28.5 g/t gold), 5.7 feet at 0.92 oz/t gold (1.7 meters at 31.5 g/t gold) and 3.5 feet at 1.39 oz/t gold (1.1 meters at 47.8 g/t gold) and 0.7 feet at 5.11 oz/t gold (0.2 meters at 175.1 g/t gold)
- Hole K23-1485-132-X03 returned 4.1 feet at 1.6 oz/t gold (1.2 meters at 54.8 g/t gold)
- Hole K23-1485-132-X12 returned 3.0 feet at 1.89 oz/t gold (0.9 meters at 64.7 g/t gold)
- Hole K23-1485-132-X10 returned 7.8 feet at 0.67 oz/t gold (2.4 meters at 23.0 g/t gold) and 23.6 feet at 0.2 oz/t gold (7.2 meters at 6.7 g/t gold.)
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Contiguous zones linked at
Elmira – Infill drilling atElmira , located approximately 200 meters to the east ofKensington , has successfully linked the main zone to the zones to the south. Notable results from expansion and infill drilling include the following true width intercepts:- Hole EL22-0990-146-X03 returned 17.7 feet at 0.37 oz/t (5.4 meters at 12.8 g/t gold)
- Hole EL23-1060-139-X03 returned 0.9 feet at 2.77 oz/t gold (0.3 meters at 95.1 g/t gold)
- Hole EL22-0900-126-X11 returned 11.4 feet at 0.49 oz/t gold (3.5 meters at 16.9 g/t gold)
- Massive sulfide mineralization encountered at Silvertip – Recent drilling at the Southern Silver zone has encountered visual confirmation of massive sulfide mineralization along strike and dip from all 16 expansion holes drilled this year. In addition, all five holes currently being drilled at the Saddle zone have intersected mineralization.
For a complete table of all year-to-date 2023 drill results, please refer to the following link: https://www.coeur.com/files/doc_downloads/2023/09/2023-09-12-exploration-update-appendix-final.pdf. Please see the “Cautionary Statements” section for additional information regarding drill results.
“Coeur’s track record of success from its sustained multi-year investment in mostly brownfield exploration to extend mine lives and build a robust pipeline of resources remains a key differentiator for the Company relative to the sector,” said Mitchell J. Krebs, President and Chief Executive Officer. “Kensington’s successful mine life extensions and growing zone continuity highlight the compelling expected returns on investment that can be generated over time by sustaining our commitment to targeted and cost-effective brownfields exploration. In
Coeur has made significant progress in understanding the mineralization system and the remaining prospectivity at
Silvertip1,2
Silvertip is a high-grade polymetallic, carbonate replacement deposit (“CRD”) located in northern
Drilling at the Saddle zone, located southeast of the Southern Silver zone, is aiming to infill the scout drilling conducted in 2021 and 2022 to delineate an initial resource in this zone into the resource by year-end. Five holes have been completed so far in 2023, and visual inspection of core demonstrates that all five have intersected massive sulfide mineralization. The Saddle zone is an important part of expanding the resource base to the south over a two-kilometer strike length of previously outlined mineralization.
In addition to mineralization in the McDame Limestone unit, favorable indications for mineralization have also been identified lower in the stratigraphic sequence, in the underlying dolostone, sandstone and Atan Group limestones for stacked, carbonate replacement deposits and related skarn/porphyry type deposits. Testing this large vertical extent of stratigraphy is a key focus of the upcoming drill program.
“Recent drill results at
About Coeur
Coeur Mining, Inc. is a
Cautionary Statements
This news release contains forward-looking statements within the meaning of securities legislation in
The scientific and technical information concerning our mineral projects in this news release have been reviewed and approved by a “qualified person” under S-K 1300, namely our Director, Technical Services, Christopher Pascoe. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and mineral resources included in this news release, 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, sociopolitical, marketing or other relevant factors, please review the Technical Report Summaries for each of the Company’s material properties which are available at www.sec.gov.
Notes
The ranges of potential tonnage and grade (or quality) of the exploration results described in this news release are conceptual in nature. There has been insufficient exploration work to estimate a mineral resource. It is uncertain if further exploration will result in the estimation of a mineral resource. The exploration results described in this news release therefore do not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve.
For additional information regarding 2022 mineral reserves and mineral resources, see https://www.coeur.com/operations/operations/reserves-resources/.
- For a complete table of all drill results included in this release, please refer to the following link: https://www.coeur.com/files/doc_downloads/2023/09/2023-09-12-exploration-update-appendix-final.pdf.
- Rounding of grades, to significant figures, may result in apparent differences.
Conversion Table
1 short ton |
= |
0.907185 metric tons |
1 troy ounce |
= |
31.10348 grams |
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Coeur Mining, Inc.
Attention: Jeff Wilhoit, Director, Investor Relations
Phone: (312) 489-5800
www.coeur.com
Source: Coeur Mining, Inc.