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Coeur Mining Reports Year-End 2021 Mineral Reserves and Resources
CHICAGO / Feb 16, 2022 / Business Wire / Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported year-end 2021 proven and probable reserves of
About this update from Coeur Mining, Inc.
[{"type":"text","content":"CHICAGO / Feb 16, 2022 / Business Wire / Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported year-end 2021 proven and probable reserves of 3.1 million ounces of gold, 238.2 million ounces of silver, 296.1 million pounds of zinc and 193.2 million pounds of lead. Year-over-year gold reserves were essentially unchanged, net of depletion, driven by a higher cut-off grade assumption at Rochester offset by increases at Wharf and Palmarejo. Year-over-year silver reserves decreased due primarily to the higher cut-off grade applied at Rochester partially offset by an increase at Palmarejo. Measured and indicated resources totaled 3.4 million ounces of gold, 285.0 million ounces of silver, 589.4 million pounds of zinc and 312.6 million pounds of lead, reflecting double-digit year-over-year increases across all metals driven by additions from Palmarejo, Silvertip and Kensington. Inferred resources were 2.7 million ounces of gold, 91.2 million ounces of silver, 422.3 million pounds of zinc and 200.7 million pounds of lead. Year-over-year gold and silver inferred resources declined due to the higher cut-off grade assumption used at Rochester, partially offset by increases at Kensington and Wharf. Silvertip’s silver, zinc and lead inferred resources increased 48%, 37% and 40%, respectively. Key Highlights1 Success from five-year, nearly $240 million investment in exploration – Infill-focused drilling programs successfully replaced 1.8 million and 56.4 million ounces of cumulative gold and silver production, respectively, as well as added an additional 0.5 million ounces of gold and 85.4 million ounces of silver reserves. Expansion-focused drilling programs successfully added 1.7 million and 113.4 million ounces of measured and indicated gold and silver resources, respectively, and an additional 1.8 million and 31.9 million ounces of new inferred gold and silver resources, respectively Resource conversions at Palmarejo and Wharf led to reserve increases net of depletion – Successful infill drilling in the Hidalgo Zone at Palmarejo drove reserve increases in gold and silver of approximately 4% and 5%, respectively, in 2021. A roughly 18% increase in gold reserves at Wharf has added two years to its mine life, further enhancing the overall return on investment from the initial $99 million cash acquisition in 2015 Significant...