Coeur purchased Silvertip in 2017 for $200 million from personal operator JDS Silver. The underground mine, situated 16 km south of the Yukon border, is Coeur’s sole mission in Canada.
The miner briefly suspended mining and processing at Silvertip in February 2020 attributable to market situations and ongoing operational challenges.
Coeur studies that the brand new Southern Silver zone at Silvertip, situated adjoining to and enveloping a historic zone of manto mineralization, has the potential to be bulk mined attributable to its grade and orientation.
Current highlights from the Southern Silver zone embrace:
- 6.4 metres of 493.7 g/t silver, 23.7% zinc, and eight.7% lead (gap 360-002);
- 5.8 metres of 222.9 g/t silver, 21% zinc and a couple of.8% lead (gap 360-020); and
- 6.4 metres of 630.9 g/t silver, 14.8% zinc, and 10.5% lead; and seven.2 metres of 342.9 g/t silver, 11.7% zinc and 5.1% lead (gap 360-026).
At Crown, Coeur drilled oxide gold intercepts that time to elevated useful resource potential throughout 4 zones: Daisy, Secret Go, SNA and C-Horst – the final a brand new discovery from final April.
The corporate is working in direction of an optimized useful resource and monetary mannequin for the district later this 12 months and an preliminary financial evaluation in mid-2022.
Drill highlights from Daisy included 41.1 metres of two.6 g/t gold (gap D20-C004) and 21.6 metres of three.5 g/t gold, 15.2 metres of 1.8 g/t gold and 6.7 metres of two.5 g/t gold in gap D20-C006.
Highlights from Secret Go included 84 metres of 1.1 g/t gold (gap SP20-C003), whereas C-Horst returned 74.7 metres of 1.6 g/t gold (CH21-055) and 102.1 metres of 0.9 g/t gold (CH20-051).
“We’re finishing up our most energetic exploration marketing campaign in Coeur’s historical past with as much as 22 drill rigs deployed throughout six websites, with constructive outcomes rolling in frequently,” stated Hans J. Rasmussen, Coeur’s senior vice-president of exploration.
“This replace emphasizes the chance for progress at Silvertip and Crown, two of our most up-to-date asset additions in high jurisdictions according to our technique, each of which proceed to display important upside potential. Drilling at Silvertip continues to indicate promising outcomes as demonstrated by the latest assays from Gap 65Z21-485-360-026 on the Southern Silver Zone, which reduce roughly 51 ft of huge sulfide mineralization hosted in vertically oriented breccia materials.
“Profitable outcomes like these proceed to bolster Silvertip’s standing as one of many world’s highest-grade silver-zinc-lead deposits and supply priceless information factors as we work in direction of our aim of ending the 12 months with a compelling enterprise case to justify shifting ahead with an growth and restart.”
Coeur has 4 producing belongings in its portfolio: the Palmarejo gold-silver complicated in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska and the Wharf gold mine in South Dakota.
(This text first appeared within the Canadian Mining Journal)