Palmarejo Exploration
Year-end proven and probable reserves totaled 71.8 million silver ounces and 870,200 gold ounces, measured and indicated resources were 16.6 million silver ounces and 191,474 gold ounces, and inferred resources were 33.8 million silver ounces and 625,319 gold ounces.
2Q Highlights
The Company completed 16,841 meters (55,253 feet) of core drilling in the second quarter in the large Palmarejo District. This work was divided nearly equally between targets around the Palmarejo mine from both surface and underground drill platforms, specifically the Rosario, Tucson and Chapotillo zones, and at the Guadalupe and La Patria deposits, located near the mine. Drilling at La Patria represents the first drilling by Coeur on this mineralized, northwest-trending, district-scale structure. La Patria is over four kilometers (2.5 miles) long and consists of three separate zones. This year’s drilling on just the north zone of La Patria has encountered several gold- and silver-bearing veins located near the surface, suggesting the potential for a surface mineable deposit.
