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Development
Palmarejo - Coeur's Newest World-Class Silver/Gold Growth Project
As one of the world’s highest quality silver-gold projects, Palmarejo positions Coeur as the leading primary silver producer in terms of annual silver production and resource base. The Palmarejo project is expected to begin production in early 2009 at an annualized rate of approximately 10.4 million ounces of silver and 115,000 ounces of gold per year with cash costs, net of gold bi-product, of an estimated ($0.41) per ounce of silver and an initial mine life of nine years. Exploration continues on the large land package, with current measured and indicated mineral resources of 88.7 million silver ounces and 1.0 million measured and indicated gold ounces, and an additional 61.4 million ounces of inferred silver mineral resources and 0.7 million inferred gold ounces.
The Palmarejo Project is located in the state of Chihuahua in northern Mexico and lies in Mexico's premier silver region, the gold-silver belt of the Sierra Madre Occidental. The Palmarejo tenement covers approximately 12,160 hectares and the current development project is located on one of 14 silver targets identified to date on the tenement.
| Mineral Resources (as of 9/17/07) | |||||
| Deposit | Tonnes | Grade | Ounces | ||
| Gold g/t | Silver g/t | Gold | Silver | ||
| Palmarejo1 | |||||
| Measured | 5,100,000 | 2.22 | 197 | 367,000 | 32,520,000 |
| Indicated | 8,800,000 | 2.01 | 184 | 571,000 | 52,390,000 |
| Inferred | 4,500,000 | 1.39 | 153 | 203,000 | 22,290,000 |
| Guadalupe2 | |||||
| Indicated | 710,000 | 2,15 | 168 | 49,000 | 3,790,000 |
| Inferred | 8,000,000 | 1.34 | 136 | 345,000 | 35,120,000 |
| La Patria3 | |||||
| Inferred | 3,600,000 | 1.49 | 35 | 171,000 | 4,030,000 |
Note:
1 Source: Palmarejo Updated Resource Statement – September 2007 - A 0.8 g/t AuEq cutoff has been applied to Palmarejo - only those blocks with higher interpolated grade than these cut-offs have been included in the resource statement above.
2 Source: Palmarejo Updated Resource Statement – September 2007 – 0.8 g/t AuEq cut-off has been applied to Guadalupe to a depth of 150 meters below surface and a 2.5 g/t AuEq cut-off has been applied for mineral resources occurring deeper than 150 meters below surface - only those blocks with higher interpolated grade than these cut-offs have been included in the resource statement above.
3 Source: Palmarejo Updated Resource Statement – September 2007 – A 0.8 g/t AuEq cut-off has been applied to the La Patria resource estimate. Only those blocks with higher interpolated grade than this cut-off have been included in the resource statement above.
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