Coeur Mining Inc. (NYSE:CDE) announced the discovery of high-grade silver-gold mineralization at the Mexico-based Palmarejo Complex.
Coeur Mining Inc. (NYSE:CDE) announced the discovery of high-grade silver-gold mineralization at the Mexico-based Palmarejo Complex. Mineralization was found at Guadalupe, Independencia and at the Nacion and Los Bancos zones.
As quoted in the press release:
The latest drill results at Guadalupe demonstrate the highest grades and widest intercepts observed to date and compare favorably to the current average silver and gold reserve grades of 4.90 oz/t and 0.075 oz/t, respectively, at Palmarejo.
The results from the newly-discovered Nación zone are located approximately 300 meters south of existing Independencia underground development and approximately 500 meters east of Guadalupe, with grade, thickness, and host rock similar to Independencia. The results at Los Bancos are concentrated in an area approximately 250- 750 meters north of the twin declines currently being driven from Guadalupe to Independencia.
Hans Rasmussen, vice president of exploration at Coeur, commented:
These high-grade discoveries are the result of a focused program to map and drill known mineralized structures along a structural corridor between the Guadalupe mine and the Independencia deposit. As we have found with Independencia, silver-gold mineralization at Nación and Los Bancos is concentrated within a 200-300 meter vertical elevation. We are optimistic that our new geologic models and discoveries along with the assimilation of the new geologic team from our acquisition of Paramount Gold and Silver Corp. in April will contribute to the discovery of further high-grade veins both within the corridor and along extensions of known deposits like Independencia and Guadalupe.