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Properties Cerro Bayo (Chile)Coeur owns 100% of the Cerro Bayo mine in southern Chile, which comprises a high grade gold and silver underground mine and processing facilities. The Cerro Bayo deposit was discovered during 2000. Initial mining operations commenced in late 2001 and processing started in April 2002. The Company carries on an active exploration program on its 205 square mile property package. Cerro Bayo is among the lowest cost silver mines in the world and continues to lead Coeur's low-cost silver reserve and production growth. To date, more than 100 veins have been discovered in the Cerro Bayo District, where Coeur controls a total of 118 square miles. This is an area with multiple epithermal veins which provide current and future development potential, including a number of veins with strike length, width and grade greater than previously encountered in the district, the majority of which are located within nine miles of the existing ore processing facilities. In 2004, Coeur launched the first year of a three-year exploration program to extend mine life at Cerro Bayo (and at Martha in Argentina) to at least three years.
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