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Americas Gold and Silver Surpasses Exploration Target at the Galena Complex; Exploration to Commence at Cosalá Operations
TORONTO / Sep 13, 2022 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North Am
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"TORONTO / Sep 13, 2022 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, provides an update to its Mineral Reserve and Mineral Resource statement as at June 30, 2022. 2022 Mineral Reserve and Mineral Resource Update Highlights Since the June 2021 Mineral Reserve and Mineral Resource statement, the Company’s exploration drilling has solely focused on the Galena Complex joint venture (60% USA/40% Eric Sprott). Following the success of the Phase 1 drill program at the Galena Complex, the Phase 2 drill program initially focused on conversion of mineral resources to mineral reserves with increased infill drilling in addition to continuing to drill new targets. Year-over-year, P&P silver mineral reserves at the Galena Complex (100% basis) increased from 16.6 million silver ounces to 20.9 million silver ounces, a 26% increase from the previous estimate. M&I silver mineral resources (exclusive of mineral reserves) at the Galena Complex on a 100% basis increased from 64.2 million silver ounces to 77.3 million silver ounces, a 20% increase year-over-year. With the restart of mining at the Cosalá Operations in late 2021 and return to full production in early 2022 and limited exploration conducted on the property, there was only minor depletion of mineral reserves. “The Company was successful in converting mineral resources to mineral reserves and increased confidence categories of mineral resource as part of the continued drilling at the Galena Complex,” stated Americas President and CEO Darren Blasutti. “The conversion of mineral resources to mineral reserves greatly supports our goal to increase annual production at the Galena Complex. While we focused on infill drilling, the Company was successful in continuing to add ounces and increase the overall mineral resource at the Galena Complex.” Attributable Mineral Reserves and Mineral Resources On a consolidated and attributable basis, estimated contained metal in the proven and probable mineral reserve (“P&P”) categories totalled 34.7 million ounces of silver (increase of 7% year-over-year), 107.0 million pounds of zinc (decrease of 23% y-o-y), 135.7 million pounds of lead (increase of 19% y-o-y) and 32.6 million pounds of copper (increase of 8% y-o-y). Estima...