Coeur Provides Palmarejo Exploration Update
Figure 1: Highlighted drillhole results from the
Drill results from the
Key Drill Highlights1,2
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Hidalgo Drilling Leads to New Discoveries and Record High Gold Grades – Drilling at
Hidalgo confirms the highest gold grades ever intersected at Palmarejo and continues to extend high-grade mineralization along strike to the northwest in the direction of the Palmarejo processing facility.Hidalgo now comprises three individual veins:Hidalgo and two discoveries made earlier this year –San Juan andLibertad – which over the last fifteen months have collectively extended mineralization by 800 meters along strike. All veins remain open along strike and down dip. Notable results from expansion and infill drilling include the following true width intercepts:-
Hole HGDH_118 (
Hidalgo ) returned 49.5 feet at 0.08 ounces per ton (“oz/t”) gold and 7.7 oz/t silver (15.1 meters at 2.8 g/t Au and 265.1 g/t silver) -
Hole HGDH_127 (
Hidalgo ) returned 34.8 feet at 0.10 oz/t gold and 7.3 oz/t silver (10.6 meters at 3.4 g/t gold and 248.5 g/t silver) -
Hole HGDH_137 (
Hidalgo ) returned 19.0 feet at 1.20 oz/t gold and 14.5 oz/t silver (5.8 meters at 41.1 g/t gold and 496.2 g/t silver) -
Hole HGDH_145 (
San Juan ) returned 18.4 feet at 0.09 oz/t gold and 7.0 oz/t silver (5.6 meters at 3.1 g/t gold and 239.8 g/t silver) -
Hole HGDH_149 (
Libertad ) returned 24.6 feet at 0.09 oz/t gold and 5.0 oz/t silver (7.5 meters at 3.0 g/t gold and 170.2 g/t silver) -
Hole HGDH_151 (
Hidalgo ) returned 28.5 feet at 0.09 oz/t gold and 4.1 oz/t silver (8.7 meters at 3.0 g/t gold and 141.8 g/t silver)
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Hole HGDH_118 (
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Successful Conversion and Expansion Drilling at La Nacion and Zapata Deposits – Successful infill and expansion drilling programs were completed on these structures, which are sub-parallel splay veins to
Independencia andGuadalupe . Infill drilling at La Nacion continued to upgrade inferred resources at depth in both the south-central and northern areas, with expansion drilling along strike to the north. Notable results from infill drilling include:- Hole LBDH_237 (Nacion) returned 7.2 feet at 0.04 oz/t gold and 5.2 oz/t silver (2.2 meters at 1.51 g/t gold and 177.3 g/t silver)
- Hole LBDH_239 (Nacion) returned 10.8 feet at 0.05 oz/t gold and 15.0 oz/t silver (3.3 meters at 1.71 g/t gold and 513.9 g/t silver)
- Hole DC3-ZPA-0018 (Zapata) returned 12.5 feet at 0.24 oz/t gold and 20.0 oz/t silver (3.8 meters at 8.1 g/t gold and 685 g/t silver)
- Hole DC3-ZPA-0042 (Zapata) returned 18.7 feet at 0.06 oz/t gold and 3.8 oz/t silver (5.7 meters at 2.02 g/t gold a 131.3 g/t silver)
- Hole DC3-ZPA-0048 (Zapata) returned 24.3 feet at 0.06 oz/t gold and 2.5 oz/t silver (7.4 meters at 1.98 g/t gold and 86.4 g/t silver), and 5.3 feet grading 0.12 oz/t gold and 9.0 oz/t silver (2.2 meters grading 4.16 g/t Au and 307.4 g/t Ag)
For a complete table of all drill results, please refer to the following link: https://s201.q4cdn.com/254090064/files/doc_downloads/2023/08/08/2023-08-09-Exploration-Update-Appendix-Final.pdf. Please see the “Cautionary Statements” section for additional information regarding drill results.
“Coeur has invested over
At year-end 2022, Palmarejo’s proven and probable reserves totalled 18.2 million tons with average gold and silver grades of 0.052 ounces per ton and 3.61 ounces per ton, respectively, equalling 0.95 million ounces of gold and 65.7 million ounces of silver. Over the past five years, the Company’s strong commitment to exploration at Palmarejo has led to an increase in gold and silver proven and probable reserves by approximately
Palmarejo is Coeur’s largest producing mine with a landholding encompassing over 270 square kilometers (105 square miles or approximately 67,200 acres), of which approximately only
The
Expansion drilling currently underway along the
Drilling during the remainder of 2023 will focus on expansion drilling in the
“Our key aims during the second half of 2023 are to continue building mine life through drilling at
District Exploration
Much of Coeur’s extensive landholdings in the Palmarejo District have not been explored. Since 2022, a comprehensive geological mapping and sampling program has been underway by a team of Coeur geologists and field assistants at regional and detailed scales (Figure 3) including basic geological mapping to determine lithology, structure and new trends of mineralization. This work is designed to generate targets that will be followed by detailed evaluation, ranking and drill testing in due course. During the past 15 months, roughly 31.6 square miles (82 square kilometers) of mapping has been conducted in this area with highly encouraging results, including several new mineralized trends identified such as the Camuchin and La Curra -
Camuchin Trend
In late 2022, 1:1,000 scale mapping was initiated along the northwest - southeast trending Camuchin Trend, located 3.7 miles (6 kilometers) to the northeast of the Palmarejo Mine. The Camuchin Trend is a major northwest-trending zone of fault-veins that run parallel to the Independencia Trend some 2.5 miles (4 kilometers) to the southwest and has been mapped over a strike-length of 4.3 miles (7 kilometers). Mineralized fault breccias and veins with sulphides that delimit a major structure approximately 33 feet (10 meters) in width are exposed in a river section and have returned strongly anomalous Ag, Au and Mo values (up to 273ppm Ag, 0.6 ppm Au) as well as moderate to strongly anomalous lead, zinc, arsenic, barium and antimony.
Several other parallel silicified breccia structures are exposed in the river section over a width of about 820 feet (250 meters). Silver values up to 8.8 oz/t (273 g/t) occur around elevations of 3,280 feet above sea level (“fasl”) (1,000 meters above sea level (“masl”)) where the deeper parts of the epithermal system have been exposed. At higher elevations (up to 5,413 feet (1,650 meters)) to the southeast, argillic alteration and silicified breccias continue but are less anomalous and partly concealed by volcanic cover. A similar topographic control on mineralization occurs in the Palmarejo District where the main window of economic mineralization is observed between 2,953 fasl (900 masl) and 4,265 fasl (1,300 masl). The Camuchin Trend is considered a prime target for additional surface exploration and drill testing. As a next step, given the relatively poor exposure over much of the trend, Coeur intends to conduct a systematic soil geochemical survey followed by drilling.
La Curra - La Verde Trend
Regional mapping has focused on the south-east extension of the Guadalupe Trend from the surface workings observed at the
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 does 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 additional information regarding 2017 mineral reserves and resources, see https://s201.q4cdn.com/254090064/files/doc_downloads/2023/08/08/2022-08-09-exploration-update-2017-rr-appendix-final.pdf.
- For a complete table of all drill results included in this release, please refer to the following link: https://s201.q4cdn.com/254090064/files/doc_downloads/2023/08/08/2023-08-09-Exploration-Update-Appendix-Final.pdf.
- Rounding of grades, to significant figures, may result in apparent differences.
Conversion Table |
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1 short ton |
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0.907185 metric tons |
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1 troy ounce |
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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.