Tahoe Boosts Escobal’s Measured and Indicated Silver Ounces by 18 Percent

Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) completed new NI 43-101 mineral resource and mineral reserve estimates for its Guatemala-based Escobal mine. They are supported by an independent feasibility study.

According to the press release, highlights include:

• Measured and Indicated mineral resources total 433.9 million silver ounces at an average grade of 346 grams per tonne (g/t), reflecting an 18 percent increase in Measured and Indicated silver ounces as compared to the January 2012 mineral resource estimate.
• Inferred mineral resources total 9.3 million silver ounces at an average grade of 224 g/t.
• Proven and Probable mineral reserves of 31.4 million tonnes at an average silver grade of 347 g/t for 350.5 million silver ounces contained in the mine plan.
• Average annual production of 19.1 million silver ounces and 22.4 million silver equivalent ounces over the first 10 years of the mine life.
• As of July 1, 2014, the remaining capital costs to expand the production rate from 3500 to 4500 tpd are estimated at $24.3 million. All expansion capital is expected to be funded by existing cash balance and projected future cash flow.

Kevin McArthur, CEO and vice chairman of Tahoe, commented:

The primary purpose of this Feasibility Study was to provide support for the mineral reserve estimate and the details of the life of mine plan. Escobal achieved commercial production in January, and our goal is to produce 20 million ounces of silver in this first year of production. Escobal forms a strong economic foundation for the future growth of the Company.

View Silver Investing News’ recent interview with Ira Gostin, Tahoe’s vice president of investors relations, below:

Click here to read the full Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) press release.