Coeur Mining Reports an Update on its 2021 Exploration Programs at its Palmarejo and Kensington Operations
September 14, 2021 at 07:19 am EDT
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Coeur Mining has reported an update on its 2021 exploration programs at its Palmarejo and Kensington operations, following its update on February 17. 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 million in exploration this year, nearly 50% higher than last year's record exploration investment, representing one of the sector's large exploration programs. 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. 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. 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. 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.
Coeur Mining, Inc. is a precious metals producer. The Companyâs operations include the Palmarejo gold-silver complex, the Rochester silver-gold mine, the Kensington gold mine, and the Wharf gold mine. The Palmarejo gold-silver complex located in the state of Chihuahua, Mexico. The Rochester mine is an open pit, heap leach silver-gold operation, located in Pershing County, Nevada, approximately 26 miles northeast of the city of Lovelock. The Companyâs Kensington mine is an underground gold operation located on the east side of the Lynn Canal, approximately 45 miles north-northwest of Juneau, Alaska. The Wharf gold mine is an open pit, heap leach operation located in the northern Black Hills of western South Dakota, approximately four miles southwest of the city of Lead, South Dakota. In addition, The Company wholly-owns the Silvertip silver-zinc-lead development project in British Columbia and has interests in several precious metalâs exploration projects throughout North America.