Business
Coeur Mining Reports Year-End 2022 Mineral Reserves and Resources
Overall year-over-year gold and silver reserve increases of 12% and 3%, respectively CHICAGO / Feb 22, 2023 / Business Wire / Coeur Mining, Inc. (“Coeur” or the
About this update from Coeur Mining, Inc.
[{"type":"text","content":" Overall year-over-year gold and silver reserve increases of 12% and 3%, respectively CHICAGO / Feb 22, 2023 / Business Wire / Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported year-end 2022 proven and probable reserves of 3.4 million ounces of gold and 245.7 million ounces of silver, reflecting year-over-year increases for both metals with reserve growth at each site, net of depletion. Measured and indicated resources totaled 3.1 million ounces of gold, 181.9 million ounces of silver, 1.4 billion pounds of zinc and 722.2 million pounds of lead. Inferred resources were 1.7 million ounces of gold, 70.0 million ounces of silver, 378.1 million pounds of zinc and 166.0 million pounds of lead. Key Highlights1,2 Sustained multi-year investment in exploration driving strong reserve and resource growth – Nearly $245 million exploration investment over the past five years has resulted in peer-leading reserve and resource growth and longer mine lives. On a gold equivalent basis, reserves have increased 34% net of depletion, measured and indicated resources have grown by 80%, and inferred resources have expanded by 26% since 2017. Year-over-year, the Company more than replaced mined reserves, with overall gold and silver reserves increasing 12% and 3%, respectively 56% increase in Kensington’s gold reserves added 1.5 years of mine life – 2022 results reflect early success from the multi-year drilling and development plan aimed at extending Kensington’s mine life beyond 2030 by successfully expanding Zone 30 in the main Kensington deposit and the nearby Elmira deposit Rochester’s total reserves tons increased 11% to 464 million tons; 2022 drilling at Lincoln Hill confirms high grade potential – Pit design optimization and exploration success offset higher operating costs from ongoing inflationary pressures leading to gold and silver reserve increases of 9% and 12%, respectively. Approximately 6,200 feet of drilling at Lincoln Hill validated historic drill holes during 2022 Wharf continues to more than replace depletion – Wharf’s year-end 2022 gold reserves totaled 908,000 ounces, representing a 7% year-over-year increase. The Company acquired the Wharf mine eight years ago with a reserve at the time of 712,000 ounces Reclassified Silvertip’s high-grade reserve base to measured and indicated resources – The Compan...