It's the biggest company you've never heard of—until last week, that is. Evergrande Group, the "too big to fail" Chinese property developer, rattled markets last Monday when it missed interest payments to at least two of its lenders. This gave more than a few investors flashbacks to Lehman Brothers' demise in 2008, which helped trigger the global financial crisis. The selloff spread to U.S. markets, and I was pleased to see that gold maintained its haven status. The yellow metal ended the day slightly up more than half a percent, passing an important "stress test" of its investment case in the age of Bitcoin. Read More >>
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
What Evergrande Confirmed About Gold and Bitcoin
News Provided by Channelchek via QuoteMedia
Silver47 Beefs Up Drilling Plans to Expand Resource at Red Mountain Polymetallic Project
Following release of the final results from Silver47 Exploration's (TSXV:AGA) 2024 exploration program, the company is beefing up plans for a more expansive and targeted drill campaign in the new year at its flagship Red Mountain project in Alaska. Alex Wallis, vice president of exploration, said the aim is to “increase both the grade and the tonnage."
“With the modern drilling and the recoveries we saw this year, we have a really good chance to increase just from infilling the historic zones to really bulk that resource out as well,” he said.
Approximately 20 percent of future drilling efforts will focus on fresh exploration targets like Galleon and Horseshoe, according to Wallis. The company is eyeing more than 15 exploration targets at Red Mountain that have never been drill tested with geochemical and geophysical targeting.
“Our resource target is a volcanogenic massive sulfide, which is a typical polymetallic deposit style which could be continuous laterally and some occasional pinching and swelling. We're seeing our mineralized zones are continuous sulfidation,” he said.
During Silver47's 2024 exploration program, a total of 1,039 meters of drilling were completed in six holes at the Dry Creek, West Tundra Flats and Kiwi prospects, showing multiple high-grade massive sulfide intervals.
Watch the full interview with Alex Wallis, vice president of exploration at Silver47 Resources, above.
Disclaimer: This interview is sponsored by Silver47 Exploration (TSXV:AGA). This interview provides information which was sourced by the Investing News Network (INN) and approved by Silver47 Exploration in order to help investors learn more about the company. Silver47 Exploration is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Silver47 Exploration and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Cerro Leon drill results
Further high-grade mineralisation identified at the Karina prospect
Unico Silver Limited (“USL” or the “Company”) is pleased to announce first assay results from ongoing drilling at the Cerro Leon project, located in the Santa Cruz province of Argentina.
HIGHLIGHTS
- Assay results received for the first G holes for 757m at the Karina prospect.
- Results are pending for a further 42 holes for 3,5G5m.
- The approximately 5,000m RC drill program is progressing well, with completion expected on 15 December 2024.
- Significant silver equivalent (AgEq1) assay results include:
- Karina(PR003-24) 12m at 307gpt AgEq from 49m, inc.
3m at 1,052gpt AgEq from 56m (outside MRE) - (PR004-24) 23m at 104gpt AgEq from 30m (open at depth)
- (PR005-24) 12m at 411gpt AgEq from 18m, inc.
5m at 828gpt AgEq from 23m (open at depth) - PR007-24) 26m at 126gpt AgEq from 31m (open at depth)
- (PR009-24) 35m at 20Ggpt AgEq from 4m (outside MRE)
2m at 1,500gpt AgEq from 7m
- Karina(PR003-24) 12m at 307gpt AgEq from 49m, inc.
- Mineralisation is defined over G00m strike and 75m down dip and is open at depth.
- Drill operations will scale up in the first week of January with two diamond rigs mobilising to site to test the vertical continuity of mineralised across all priority prospects, including Karina.
- These results form part of a fully funded 50,000m drill program across the Cerro Leon and Joaquin projects, contributing to a revised Mineral Resource Estimate (MRE).
Managing Director, Todd Williams: “The first nine holes at Karina exceed expectations and confirms the continuity of mineralisation along 300m strike and the potential for further extensions at depth. Notably, hole PR003-24 reported an exceptional individual assay of 2C03gpt silver, validating the shallow high-grade nature of mineralisation. With assays for 42 additional holes still pending and drilling set to scale up in January, shareholders can look forward to a steady stream of results and updates over the next 12 months, including a revised MRE.
Summary
Unico Silver holds 100% of the Cerro Leon and Joaquin silver gold districts located in the central Deseado Massif geological province, Santa Cruz Argentina (Figure 1). The current drill program at Cerro Leon commenced October 2024 and is anticipated to continue through to the end of Q1 2025. It forms part of a broader fully funded 50,000m drill program planned for both projects culminating in a revised MRE late 2025.
Figure 1: Joaquin and Cerro Leon project location
Cerro Leon is strategically located within the same structural corridor that is host to AngloGold Ashanti’s world- class Cerro Vanguardia mine. The Project hosts a JORC compliant Mineral Resource Estimate (MRE) of G1Moz AgEq for 16.5Mt at 172gpt AgEq (Table 3).
During August 2024, announced the acquisition of the Joaquin project from Pan American Silver Corp (PAAS). Joaquin is host to a Foreign Estimate of 73Moz AgEq for 16.7Mt at 136gpt AgEq4 (Table 4). Historical production by PAAS from 2019 to 2022 totals 4.3Moz Ag (Table 5).
Click here for the full ASX Release
This article includes content from Unico Silver Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
First Majestic Announces Mailing of Materials for Special Meeting
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce that it has commenced mailing of its meeting materials for the special meeting of the Company's shareholders (the "Special Meeting") that will be held on Tuesday, January 14, 2025 at 11:00 a.m. (Pacific Time) at the offices of Bennett Jones LLP, located at Suite 2500 - 666 Burrard Street, Vancouver, British Columbia V6C 2X8.
At the Special Meeting, pursuant to the requirements of the rules of the Toronto Stock Exchange and the New York Stock Exchange, First Majestic shareholders will be asked to approve an ordinary resolution (the "Share Issuance Resolution") approving the issuance of up to 190,000,000 common shares of First Majestic ("First Majestic Shares") to stockholders of Gatos Silver, Inc. ("Gatos") in connection with the previously announced acquisition by First Majestic of all of the shares of common stock of Gatos (the "Transaction"). First Majestic's Board of Directors unanimously recommends that the Company's shareholders vote FOR the Share Issuance Resolution.
First Majestic is using the notice and access model ("Notice and Access") as an alternative means of delivery of the meeting materials for the Special Meeting to shareholders in a more environmentally friendly and sustainable way that helps reduce paper usage and our carbon footprint, and that reduces our printing and mailing costs. Under Notice and Access, First Majestic shareholders as of November 25, 2024, being the record date for the Special Meeting (the "Record Date"), will be sent a proxy or voting instruction form, as applicable, enabling them to vote at the Special Meeting. However, instead of receiving a paper copy of the Company's management information circular (the "Information Circular") and notice of meeting (together with the Information Circular, proxy and voting information form, the "Meeting Materials") for the Special Meeting, shareholders will receive a Notice and Access notification letter which contains information on how to access the Meeting Materials electronically.
Shareholders of record as of the Record Date are entitled to vote at the Special Meeting, and they may access electronic versions of the Meeting Materials at www.AGSpecialMeeting.com. The Meeting Materials have also been filed by the Company on SEDAR+ and may be accessed under the Company's SEDAR+ profile at www.sedarplus.com, or by scanning the QR code below with your smartphone or other smart device:
First Majestic has retained Kingsdale Advisors ("Kingsdale") as a Strategic Advisor and to assist in the solicitation of proxies for the Special Meeting. Any shareholders who need assistance with voting their First Majestic Shares may contact Kingsdale by telephone at 1-866-851-3214 (toll-free in North America) or 1-647-577-3635 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/233301_e2cfa0a694edeb95_002full.jpg
Impact of Canada Post Labour Dispute on the Delivery of Meeting Materials to Canadian Shareholders
Canadian shareholders as of the Record Date should be aware that, due to the ongoing Canada Post labour dispute which is affecting the delivery of mail within Canada, some Canadian shareholders may not receive the Meeting Materials prior to the date of the Special Meeting. This only applies to Canadian shareholders as of the Record Date who have previously requested that physical copies of the Meeting Materials be sent to them. Many of the Company's Canadian shareholders have elected for materials for shareholder meetings to be sent to them by e-mail, so the Canada Post labour dispute will not have any impact on the electronic delivery of the Meeting Materials to such shareholders. Shareholders may request electronic versions of the Meeting Materials be e-mailed to them by contacting Kingsdale by telephone at 1-866-851-3214 (toll-free in North America) or 1-647-577-3635 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com,or by contacting the Company directly at 1-866-529-2807 (toll-free) or info@firstmajestic.com.
If you are a Canadian registered shareholder (i.e., you hold your First Majestic Shares in the form of a physical share certificate, or your shares are represented by a DRS Advice Statement), and you did not receive a form of proxy with your control number, the Company strongly encourages you to contact Computershare Investor Services Inc. at 1-800-564-6253 (toll-free in North America) or +1-514-982-7555 (international) to request the control number for each of your registered shareholdings. Once you have obtained your control number(s), you can vote the First Majestic Shares represented by such control number(s) at www.investorvote.com.
If you are a Canadian beneficial shareholder (i.e., you hold your First Majestic Shares with one or more financial institutions or brokers, for example RBC Direct Investing, TD Direct Investing, BMO Direct Investing, Scotia iTRADE, Wealthsimple, Haywood Securities, Canaccord Genuity, Raymond James, Ventum Financial etc.), and you did not receive a voting instruction form with your control number, the Company strongly encourages you to contact your brokerage firm, financial institution or other intermediary and request the control number for each of your accounts that hold First Majestic Shares. Once you have obtained your control number(s), you can vote the First Majestic Shares represented by such control number(s) at www.proxyvote.com.
In addition, you can click on the following link to download Broadridge's voting app, ProxyVote: Your Voice Matters: https://www.broadridge.com/resource/proxyvote-app. Once you have downloaded the app, follow the instructions to create an account, then log in to vote your First Majestic Shares using the app (without the need for a control number). If you do not see a voting button in respect of the Special Meeting, you will need to link your accounts that hold your First Majestic Shares by clicking on "link a new investment account" on the home page of the app.
The Company has also retained Kingsdale as a Strategic Advisor and to assist in the solicitation of proxies for the Special Meeting. If you need assistance with voting your First Majestic Shares, or with obtaining your control number(s), we strongly encourage you to contact Kingsdale at 1-866-851-3214 (toll-free in North America) or 1-647-577-3635 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com.
The Canada Post labour dispute will not have any impact on the delivery of physical copies of the Meeting Materials to any US and international shareholders of the Company who have requested such physical copies. However, proxies mailed to Computershare Investor Services Inc. in Canada, and voting instruction forms mailed to Broadridge Canada, may not be received by them prior to the proxy deadline due to the labour dispute. Accordingly, all Canadian registered and beneficial shareholders are strongly encouraged to vote their First Majestic Shares online or by telephone as instructed in the Meeting Materials. Shareholders should contact Kingsdale if they need any assistance in voting their First Majestic Shares.
Gatos Stockholder Meeting
Holders of shares of Gatos common stock are also required to provide their approval of the Transaction, and accordingly, Gatos has announced that it will hold its stockholder meeting virtually on Tuesday, January 14, 2025, at 10:00 a.m. (Vancouver time), one hour prior to the First Majestic Special Meeting.
Subject to the approval of First Majestic's shareholders and Gatos' stockholders and the satisfaction or waiver of other conditions precedent, it is anticipated that the Transaction will close in early 2025.
Important Information for Investors and Shareholders about the Transaction and Where to Find It
This news release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities of First Majestic or Gatos or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities of First Majestic or Gatos in any jurisdiction in contravention of applicable law. This news release may be deemed to be soliciting material relating to the Transaction.
In connection with the proposed transaction between First Majestic and Gatos pursuant to the Merger Agreement and subject to future developments, First Majestic has filed a registration statement on Form F-4 (the "Form F-4") with the U.S. Securities and Exchange Commission (the "SEC"), which includes a proxy statement of Gatos that also constitutes a prospectus of First Majestic (the "Proxy Statement/Prospectus"). The Form F-4 was declared effective by the SEC on December 2, 2024. Gatos filed a Proxy Statement/Prospectus with the SEC on December 3, 2024 which it commenced mailing to its stockholders on December 6, 2024. First Majestic filed the Information Circular in connection with the proposed Transaction with applicable Canadian securities regulatory authorities on December 10, 2024. This news release is not a substitute for any registration statement, proxy statement, prospectus or other document First Majestic or Gatos has filed or may file with the SEC or Canadian securities regulatory authorities in connection with the proposed Transaction. First Majestic commenced mailing the Meeting Materials to its shareholders on December 10, 2024. INVESTORS AND SECURITY HOLDERS OF GATOS AND FIRST MAJESTIC ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND MANAGEMENT PROXY CIRCULAR, RESPECTIVELY, AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST MAJESTIC, GATOS, THE TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement/Prospectus, the filings with the SEC that are incorporated by reference into the Proxy Statement/Prospectus and other documents filed with the SEC by First Majestic and Gatos containing important information about First Majestic or Gatos and the Transaction through the website maintained by the SEC at www.sec.gov. Investors will also be able to obtain free copies of the management proxy circular and other documents filed with Canadian securities regulatory authorities by First Majestic, through the website maintained by the Canadian Securities Administrators at www.sedarplus.com. In addition, investors and security holders may obtain free copies of the documents filed by First Majestic with the SEC and Canadian securities regulatory authorities on First Majestic's website or by contacting First Majestic's investor relations team. Copies of the documents filed with the SEC by Gatos are available free of charge on Gatos' website at www.gatossilver.com or by contacting Gatos' investor relations team.
Participants in the Merger Solicitation
First Majestic, Gatos and certain of their respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed Transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders of First Majestic and the stockholders of Gatos in connection with the Transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the Proxy Statement/Prospectus described above and other relevant documents when they are filed with the SEC and Canadian securities regulatory authorities in connection with the proposed Transaction. Additional information regarding First Majestic's directors and executive officers is also included in First Majestic's Notice of Annual Meeting of Shareholders and 2024 Proxy Statement, which was filed with the SEC and Canadian securities regulatory authorities on April 15, 2024, and information regarding Gatos' directors and executive officers is also included in Gatos' Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 20, 2024, as amended by Amendment No. 1 to such annual report filed with the SEC on May 6, 2024 and Gatos' 2024 Proxy Statement for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on April 25, 2024. These documents are available free of charge as described above.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
On September 5, 2024, First Majestic and Gatos announced that they had entered into a definitive merger agreement (the "Merger Agreement") pursuant to which First Majestic will acquire all of the issued and outstanding shares of Gatos common stock. More information relating to the proposed Transaction can be found on the Company's website, www.firstmajestic.com.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.
Investors Contact:
Darrell Rae
Investor Relations
info@firstmajestic.com
(604) 688 3033
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward‐looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws and "forward-looking information" under applicable Canadian securities laws (collectively, "forward‐looking statements"). These statements relate to
future events or the future performance, business prospects or opportunities of First Majestic and/or Gatos that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management of First Majestic and/or Gatos made in good faith in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward‐looking statements in this news release include, but are not limited to, statements with respect to: closing of the Transaction and the terms and timing related thereto; the anticipated timing of the Special Meeting and the Gatos stockholder meeting; and the anticipated timing of closing the Transaction. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward‐looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".
Actual results may vary from forward‐looking statements. Forward‐looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward‐looking statements, including but not limited to: satisfaction or waiver of all applicable closing conditions for the Transaction on a timely basis or at all including, without limitation, receipt of all necessary shareholder, stock exchange and regulatory approvals or consents and lack of material changes with respect to First Majestic and Gatos and their respective businesses, all as more particularly set forth in the Merger Agreement; the timing of the closing of the Transaction and the failure of the Transaction to close for any reason; the outcome of any legal proceedings that may be instituted against First Majestic or Gatos and others related to the Transaction; unanticipated difficulties or expenditures relating to the Transaction; and delays associated with the ongoing Canada Post labour dispute. First Majestic is not affirming or adopting any statements or reports attributed to Gatos (including prior mineral reserve and resource declaration) in this news release or made by Gatos outside of this news release. In addition, the failure of a party to comply with the terms of the Merger Agreement may result in that party being required to pay a fee to the other party, the result of which could have a material adverse effect on the paying party's financial position and results of operations and its ability to fund growth prospects and current operations. Although First Majestic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
First Majestic believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. First Majestic does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information, except as required by applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233301
News Provided by Newsfile via QuoteMedia
Pan American Silver Provides Annual Exploration Update
Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") provides an annual exploration update and releases new exploration drill results for its Jacobina, El Peñon, La Colorada, Huaron, Minera Florida and Timmins mines, as well as its La Colorada Skarn project.
"The success of our exploration program highlights the potential for long-term organic growth at many of our assets," said Christopher Emerson, Vice President of Exploration and Geology at Pan American. "Based on the results we were achieving in exploration this year, we increased our drill budget to over 450,000 metres for 2024. This exploration update highlights these results, and showcases the ongoing discovery of new mineralized structures in and around our existing mining operations."
EXPLORATION HIGHLIGHTS:
All intercepts are reported as estimated true widths in metres ("m"), except for the La Colorada Skarn, which is a massive orebody and intercepts are reported as drilled. Please refer to the Drill Result Highlights Tables beginning on page four of this news release for additional details.
- Jacobina - extensional and infill drilling in the Maricota and the Morro do Vento zones demonstrate the potential for future resource expansion. Significant results at grades higher than the average resource grade include: 1.42m @ 116.41 g/t Au and 8.74m @ 5.86 g/t Au (Maricota - MRCEX00056); 12.75m @ 3.71 g/t Au, incl. 8.35m @ 5.26 g/t Au (Maricota - MRCEX00052); 5.75m @ 5.24 g/t Au, incl. 2.11m @ 11.68 g/t Au (Morro do Vento - MVTEX00223).
- El Peñon - drilling of the principal structures and areas to the south continues to return high-grade intercepts that are typical for this deposit. Significant results include: 1.05m @ 18.89 g/t Au, 746 g/t Ag (Pampa Campamento - UIP0177); 1.09m @ 9.90 g/t Au, 97 g/t Ag (Pampa Sur - SEP0055); 4.10m @ 3.62 g/t Au and 1,592 g/t Ag (Dominadora - UEH0024); and 1.46m @ 0.44 g/t Au and 2,547 g/t Ag (Chiquilla Chica - UIH0049).
- La Colorada - 13 new veins have been discovered in the eastern portion of the property, expanding the high-grade zone of the mine. Significant results within the Mariana, NC2 splay and San Geronimo veins show continued high-grade results, notably: S-104-24 with 0.95m @ 9,618 g/t Ag, 4.85% Pb, 4.82% Zn (Mariana vein); S-154-24 with 2.32m @ 2,615 g/t Ag, 2.31% Pb, 5.16% Zn (NC2 vein); and S-168-24 with 3.28m @ 308 g/t Ag, 10.18% Pb, 13.09% Zn (Cristina vein).
- La Colorada Skarn project - infill drilling reinforced confidence in the large, indicated mineral resource update as at June 30, 2024. Notable intercepts include: 273.10m at 54 g/t Ag, 0.85% Pb, and 5.18% Zn, incl. 62.55m at 84 g/t Ag, 1.97% Pb, and 7.57% Zn (U-155-24); and 60.25m at 85 g/t Ag, 7.05% Pb, and 10.41% Zn (U-19-24).
- Whitney Project (Timmins) - the increase in estimated gold mineral resources provided in the June 30, 2024 mineral reserve and mineral resource update highlights the potential of the Whitney project, while ongoing drilling of the Bonetal/Hallnor and Broulan reef has continued to yield high-grade results along the mineralized trend, including 360 g/t Au over 2.4 metres (TW24-793).
- Huaron - significant results from drilling focused on the Horizonte zone include: DDH-U-111-24 with 2.10m @ 399 g/t Ag, 7.39% Pb and 14.58% Zn (Maria vein); DDH-U-113-24 with 1.50m @ 504 g/t Ag, 12.77% Pb and 19.97% Zn (Maria Vein); DDH-U-049-24 with 2.77m @ 768 g/t Ag, 1.85% Pb and 0.62% Zn (Cuerpo Andres);
- Minera Florida - exploration and infill drilling have extended mineralization at several key mine structures. Significant results include: 1.98m @ 16.11 g/t Au, 13 g/t Ag and 6.44% Zn and 1.97m @ 9.38 g/t Au, 23 g/t Ag, and 4.96% Zn (Maqui Norte vein - ALH4638); and 2.57m @ 10.32 g/t Au, 12 g/t Ag, and 0.08% Zn (Mila Sur vein - ALH4562).
SUMMARY OF EXPLORATION RESULTS
Jacobina mine, Brazil
The Jacobina mine is an underground paleo placer gold mine located in the state of Bahia in northeastern Brazil. The mine has a strong track record of mineral reserve and mineral resource replacement and growth. The mine complex and resources extend over eight kilometres with exploration targets extending over a 14 kilometre trend of conglomerate reefs hosting gold mineralization, many of which remain open to depth and along strike.
- Brownfield exploration drilling totaled 35,583m, primarily targeting the João Belo Sul, Morro do Vento, Maricota, Serra do Corrego, and João Belo Norte zones. Exploratory drilling focused on evaluating new near-mine targets down-dip and north of Maricota. The recent exploration results continue to highlight the significant potential for expanding mineral reserves and mineral resources at Jacobina.
- Infill drilling at João Belo Sul confirmed gold mineralization continuity, particularly in higher-grade zones proximal to existing underground infrastructure at João Belo Norte mine. Notable intercepts include: 3.26m @ 8.21 g/t Au (JBS00093); 2.07m @ 5.55 g/t Au and 5.70m @ 4.63 g/t Au (JBS00094).
- Infill and exploration drilling at Morro do Vento continued to extend high-grade zones in the FW reef. Significant intercepts include: 5.75m @ 5.24 g/t Au, incl. 2.11m @ 11.68 g/t Au (MVTEX00223); and 6.90m @ 3.13 g/t Au, incl. 1.74m @ 9.06 g/t Au (MVTEX00217). Exploration drilling further confirms continuity of mineralization down dip within the FW reef, with 7.03m @ 2.62 g/t Au, incl. 2.56m @ 5.08 g/t Au (MVTEX00220), extending mineralization approximately 250m down-dip of the current indicated mineral resources. Mineralization in this zone remains open to depth.
- Exploration and infill drilling results at Maricota confirm the continuity of mineralization within multiple reefs (FW, HW, and Main) where mineralization remains open for expansion down dip and along strike to the north. Significant intercepts include: 12.75m @ 3.71 g/t Au, incl. 8.35m @ 5.26 g/t Au, 4.31m @ 4.49 g/t Au and 2.54m @ 11.56 g/t Au (MRCEX00052); 5.98m @ 5.12 g/t Au, incl. 2.83m @ 9.78 g/t Au and 7.46m @ 2.05 g/t Au, incl. 3.16m @ 3.50 g/t Au (MRCEX00032); and 1.42m @ 116.41 g/t Au and 4.59m @ 5.45 g/t Au, incl. 1.89m @ 10.08 g/t Au (MRCEX00056).
El Peñon, Chile
El Peñon is a large, high-grade gold-silver epithermal system located in northern Chile.
- For the period from May 2024 to October 2024, exploration drilling totaled 56,632 metres. This included 34,965 metres of infill drilling aimed at converting inferred mineral resources to the indicated category around the principal veins, including El Valle, Pampa Campamento, Pampa Sur and Chiquilla Chica. Additionally, 21,667 metres of exploration drilling were conducted to delineate new inferred mineral resource.
- Highlights from El Valle include: 1.54m @ 8.55 g/t Au, 154 g/t Ag (UIV0079); 1.20m @ 4.70 g/t Au, 257 g/t Ag (UIV0078); and 0.83m @ 16.63 g/t Au, 721 g/t Ag (UIV0080). Mineralization remains open to the north and down dip.
- Highlights from Pampa Campamento include: 1.05m @ 18.89 g/t Au, 746 g/t Ag (UIP0177); 0.76m @ 16.13 g/t Au, 258 g/t Ag (UIP0189); 1.71m @ 10.65 g/t Au, 186 g/t Ag (UIS0028); and 0.65m @ 15.33 g/t Au, 297 g/t Ag (UIP0175).
- Key results for exploration and infill drilling at the Pampa Sur vein include: 1.09m @ 9.90 g/t Au, 97 g/t Ag (SEP0055); 0.98m @ 8.49 g/t Au, 156 g/t Ag (SIP0051); and 0.42m @ 18.80 g/t Au, 1,017 g/t Ag (SIP0064). Structures identified to the east of Pampa Sur have also yielded positive results, notably 1.18m @ 6.50 g/t Au and 493 g/t Ag (SIP0067). Pampa Sur represents an important opportunity to add mineral resources near to existing mine infrastructure.
- Chiquilla Chica is a silver-rich satellite deposit located approximately 20 km southwest of El Peñon. Recent exploration drilling has confirmed high silver grades, including: 1.46m @ 0.44 g/t Au and 2,547 g/t Ag (UIH0049) and 1.44m @ 1.29 g/t Au and 1,181 g/t Ag (UIH0050). The Dominadora vein, a new discovery northeast of the main Chiquilla Chica structure, returned 4.10m @ 3.62 g/t Au and 1,592 g/t Ag (UEH0024) and 1.20m @ 0.23 g/t Au, and 1,349 g/t Ag (UEH0026) in initial drilling.
La Colorada mine, Mexico
The La Colorada mine is a silver-rich polymetallic operation located in the state of Zacatecas, Mexico.
- For the period May 2024 to October 2024, the Company completed 47,883 metres of exploration drilling, successfully extending mineralization to the east.
- Drilling on the east extension of the NC2 vein returned silver-rich intercepts from the main structure and parallel Mariana and NC2 splay veins. Notable drill highlights include: S-104-24 with 0.95m @ 9,618 g/t Ag, 4.85% Pb, 4.82% Zn (Mariana vein); 0.53m @ 4,916 g/t Ag, 9.82% Pb, 1.02% Zn (NC2 Splay); S-154-24 with 2.51m @ 1,189 g/t Ag, 0.82% Pb, 1.09% Zn (Mariana vein); and 2.32m @ 2,615 g/t Ag, 2.31% Pb, 5.16% Zn (NC2 vein).
- Drilling on a new vein system discovered earlier in 2024, located parallel to the NC2 vein in the southeast area of the mine, confirms high-grade mineralization in the Cristina vein. Notable drill results include: S-168-24 with 3.28m @ 308 g/t Ag, 10.18% Pb, 13.09% Zn and S-119-24 with 1.95m @ 1,470 g/t Ag, 3.15% Pb, 3.23% Zn. These intersects now define a mineralized vein over an area measuring 450m along strike by 550m vertical, and open in all directions.
- The San Geronimo vein system is now defined by 19 drillholes covering a mineralized area of 550m along the strike by 450m vertical. Specific highlights include: S-115-24 with 1.08m @ 1,637 g/t Ag, 2.08% Pb, 3.35% Zn; S-161-24 with 5.59m @ 456 g/t Ag, 1.10% Pb, 2.41% Zn; S-168-24 with 2.93m @ 528 g/t Ag, 3.04% Pb, 5.54% Zn; S-172-24 with 4.08m @ 255 g/t Ag, 3.28% Pb, 7.33% Zn; and S-44-24 with 2.25m @ 1,420 g/t Ag, 2.04% Pb, 1.93%.
La Colorada Skarn project, Mexico
The La Colorada Skarn is a large silver-bearing polymetallic deposit located below and adjacent to the producing vein system of the La Colorada mine.
- Over 325,000 metres have been drilled at the Skarn project since the deposit was discovered, with 11,000 metres drilled since the mineral resource update as at June 30, 2024. The recent infill drilling, focused on the 901, 902, and 903 Skarn zones, confirmed grades and widths, as defined in the June 30, 2024 mineral resource estimate. Highlight infill intercepts include: 273.10m at 54 g/t Ag, 0.85% Pb, and 5.18% Zn, incl. 62.55m at 84 g/t Ag, 1.97% Pb and 7.57% Zn (U-155-24) and 60.25m at 85 g/t Ag, 7.05% Pb, and 10.41% Zn (U-19-24).
Huaron mine, Peru
The Huaron mine is a polymetallic (Zn-Pb-Ag-Cu) deposit situated in the Cerro de Pasco Department of central Peru.
- For the period May 2024 to October 2024, 58 drillholes totaling 14,714 metres were completed.
- High-grade mineralization within the Maria vein was extended by 100 metres and remains open at depth. Results include: DDH-U-111-24 with 2.10m @ 399 g/t Ag, 7.39% Pb, and 14.58% Zn and hole DDH-U-113-24 with 1.50m @ 504 g/t Ag, 12.77% Pb, and 19.97% Zn.
- Silver and polymetallic-rich mineralization on the east extension of the Cuerpo Andres vein was confirmed with results including: DDH-U-040-24 with 0.56m @ 722 g/t Ag, 6.06% Pb, and 1.90% Zn; DDH-U-075-24 with 0.55 m @ 701 g/t Ag, 13.64% Pb, and 8.83% Zn; and DDH-U-049-24 with 2.77m @ 768 g/t Ag, 1.85% Pb, and 0.62% Zn at depth.
- The Martin vein was extended 160 metres along strike, showing good mineralization with DDH-U-041-24 intercepting 2.46m @ 369 g/t Ag, 2.74 % Pb, and 2.01 % Zn; DDH-U-055-24 with 2.24m @ 683 g/t Ag, 10.65 % Pb, and 3.10 % Zn; and DDH-U-086-24 with 1.56m @ 535 g/t Ag, 10.02 % Pb, and 2.31 % Zn at depth.
Minera Florida, Chile
Minera Florida is an epithermal Au-Ag-Zn underground mine located in the coastal region of central Chile, southwest of Santiago.
- For the period January 2024 to October 2024, a total of 58,658 metres of drilling was completed.
- Exploration and infill drilling have extended mineralization at several key mine structures, particularly at Mila Sur, Maqui Norte, Lorena-Peque-Bandolera, and Sorpresa-Lo Balta.
- The Maqui Norte vein is a significant contributor to production, with potential for resource expansion to the north of the current development and reserves. Significant intercepts include: 1.98m @ 16.11g/t Au, 13g/t Ag, and 6.44% Zn and 1.97m @ 9.38g/t Au, 23g/t Ag, and 4.96% Zn (ALH4638); 0.92m @ 20.61 g/t Au, 13 g/t Ag, and 0.09% Zn (ALH4701); and 1.19m @ 13.62 g/t Au, 11 g/t Ag, and 3.81% Zn (ALH4588).
- Notable drill highlights at Mila Sur include: 2.57m @ 10.32 g/t Au, 12 g/t Ag, and 0.08% Zn (ALH4562); 1.70m @ 8.29 g/t Au, 110 g/t Ag, and 3.34% Zn (ALH4574); and 1.15m @ 6.52 g/t Au, 286 g/t Ag, and 2.29% Zn (ALH4467).
- Key results at Sorpresa – Lo Balta include: 2.95m @ 8.79 g/t Au, 10 g/t Ag, and 1.48% Zn (ALH4657); and 2.14m @ 5.84 g/t Au, 12 g/t Ag, and 1.35% Zn, 1.20m @ 5.99 g/t Au, 12 g/t Ag, and 2.07% Zn, and 1.19m @ 7.29 g/t Au, 7 g/t Ag, and 1.48% Zn (ALH4426).
Whitney Project (Timmins), Canada
Pan American's Timmins West and Bell Creek mines are located near Timmins, Ontario. The Whitney project is situated 4.5 kilometres south of the Bell Creek processing plant, adjacent to the Pamour open pit operated by Newmont Corporation ("Newmont").
- For the period November 2023 to September 2024, drilling totaled 16,941 metres. The drilling confirmed current resources at Hallnor/Bonetal and historic resources at Broulan Reef, located 1.5 km to the west. The Hallnor/Bonetal and Broulan Reef zones are referenced in Pan American's mineral reserves and mineral resources update as at June 30, 2024, under the Whitney project, which is a joint venture (83.27% Pan American / 16.73% Newmont) operated by Pan American. The estimated mineral resources, as provided in the June 30, 2024, mineral resource update, consist of 77,900 ounces of gold in the indicated category and 477,700 ounces of gold in the inferred category.
- Significant assays in the Hallnor/Bonetal zones include: 2.7m at 19.89 g/t Au (TW24-758); 7.2m at 31.50 g/t Au (TW24- 771); 11.7m at 3.28 g/t Au incl. 4.5m at 5.98 g/t Au (TW23-750); 13.7m at 2.11 g/t Au incl. 7.3m at 3.27 g/t Au (TW23-751).
- Significant assays from the drilling at Broulan Reef include: 2.4m at 360.18 g/t Au, incl. 0.4m at 1,940 g/t Au, 0.3m at 140 g/t Au (TW24-793) and 0.8 at 28.4 g/t Au (TW23-749); 7.6m at 6.26 g/t Au (TW24-786); 0.3m at 378.00 g/t Au (TW24-802); and 4.3m at 4.69 g/t Au (TW24-804).
DRILL RESULT HIGHLIGHTS TABLES
Jacobina, Brazil
The following table provides infill and exploration drill result highlights for the Jacobina mine for the period May 2024 to October 2024. Full infill and exploration drill results not included in this table, together with cross sections and plans, are available at https://panamericansilver.com/operations/gold-segment/jacobina/ .
Hole No. | Sector | Reef | Incl. | From (m) | To (m) | Int. (m) | Est. True Width (m) | Au g/t |
JBS00093 | João Belo Sul | LMPC | 381.45 | 385.00 | 3.55 | 3.26 | 8.21 | |
JBS00094 | João Belo Sul | MPC | 378.17 | 380.50 | 2.33 | 2.07 | 5.55 | |
SPC | 404.20 | 410.64 | 6.44 | 5.70 | 4.63 | |||
JBS00095 | João Belo Sul | LVLPC | 342.23 | 347.50 | 5.27 | 4.72 | 3.10 | |
JBEX00126 | João Belo Norte | LVLPC | 400.04 | 405.06 | 5.02 | 3.34 | 6.88 | |
LVLPC | incl. | 401.00 | 403.72 | 2.72 | 1.81 | 12.12 | ||
MRCEX00025 | Maricota | HW | 140.66 | 141.50 | 0.84 | 0.70 | 19.22 | |
MRCEX00026 | Maricota | FW | 561.50 | 571.50 | 10.00 | 4.18 | 2.41 | |
EMB | 677.52 | 680.00 | 2.48 | 1.44 | 7.74 | |||
MRCEX00031 | Maricota | BAS | 647.00 | 664.78 | 17.78 | 10.07 | 2.08 | |
BAS | incl. | 651.50 | 657.05 | 5.55 | 3.14 | 2.58 | ||
MRCEX00032 | Maricota | MR | 379.92 | 387.50 | 7.58 | 5.98 | 5.12 | |
MR | incl. | 379.92 | 383.50 | 3.58 | 2.83 | 9.78 | ||
FW | 403.05 | 412.50 | 9.45 | 7.46 | 2.05 | |||
FW | incl. | 404.50 | 408.50 | 4.00 | 3.16 | 3.50 | ||
MRCEX00034 | Maricota | HW | 488.00 | 498.69 | 10.69 | 5.16 | 3.92 | |
HW | incl. | 488.00 | 493.50 | 5.50 | 2.70 | 6.80 | ||
MRCEX00037 | Maricota | FW | 541.38 | 550.50 | 9.12 | 6.56 | 2.75 | |
MRCEX00038 | Maricota | MR | 236.00 | 239.70 | 3.70 | 2.46 | 5.66 | |
MRCEX00041 | Maricota | HW | 173.15 | 177.50 | 4.35 | 3.27 | 6.87 | |
MRCEX00044 | Maricota | HW | 152.00 | 154.76 | 2.76 | 2.19 | 13.00 | |
MRCEX00049 | Maricota | FW | 173.50 | 175.00 | 1.50 | 1.07 | 10.54 | |
MRCEX00052 | Maricota | FW | 299.50 | 307.00 | 7.50 | 4.31 | 4.49 | |
FW | 314.50 | 319.00 | 4.50 | 2.54 | 11.56 | |||
FW | 327.88 | 351.55 | 23.67 | 12.75 | 3.71 | |||
FW | incl. | 328.50 | 344.00 | 15.50 | 8.35 | 5.26 | ||
MRCEX00053 | Maricota | LU | 137.00 | 141.00 | 4.00 | 3.27 | 3.11 | |
MRCEX00056 | Maricota | HW | 94.00 | 95.50 | 1.50 | 1.42 | 116.41 | |
HW | 106.15 | 111.00 | 4.85 | 4.59 | 5.45 | |||
HW | incl. | 107.00 | 109.00 | 2.00 | 1.89 | 10.08 | ||
FW | 129.00 | 138.20 | 9.20 | 8.74 | 5.86 | |||
FW | incl. | 130.00 | 133.50 | 3.50 | 3.33 | 13.35 | ||
MRCEX00059 | Maricota | HW | 115.50 | 118.50 | 3.00 | 2.96 | 10.23 | |
MRCEX00061 | Maricota | HW | 134.39 | 136.50 | 2.11 | 1.95 | 9.16 | |
MRCEX00062 | Maricota | MR | 177.50 | 179.50 | 2.00 | 1.59 | 7.43 | |
FW | 202.01 | 205.00 | 2.99 | 2.38 | 4.81 | |||
MVTEX00205 | Morro do Vento | FW | 213.00 | 228.68 | 15.68 | 14.11 | 1.17 | |
FW | 243.50 | 246.00 | 2.50 | 2.20 | 4.86 | |||
MVTEX00207 | Morro do Vento | OFF_ R | 192.00 | 196.35 | 4.35 | 3.62 | 3.02 | |
MVTEX00216 | Morro do Vento | FW | 439.50 | 449.50 | 10.00 | 6.74 | 2.65 | |
FW | incl. | 443.50 | 449.00 | 5.50 | 3.70 | 3.13 | ||
MVTEX00217 | Morro do Vento | FW | 327.50 | 339.50 | 12.00 | 6.90 | 3.13 | |
FW | incl. | 329.21 | 332.24 | 3.03 | 1.74 | 9.06 | ||
MVTEX00219 | Morro do Vento | MU | 256.00 | 259.50 | 3.50 | 2.27 | 3.32 | |
MVTEX00220 | Morro do Vento | FW | 494.50 | 513.00 | 18.50 | 7.03 | 2.62 | |
FW | incl. | 499.76 | 506.50 | 6.74 | 2.56 | 5.08 | ||
MVTEX00222 | Morro do Vento | FW | 172.00 | 178.50 | 6.50 | 3.93 | 2.76 | |
MVTEX00223 | Morro do Vento | FW | 543.29 | 555.50 | 12.21 | 5.75 | 5.24 | |
FW | incl. | 551.00 | 555.50 | 4.50 | 2.11 | 11.68 | ||
MVTEX00228 | Morro do Vento | FW | 243.00 | 250.60 | 7.60 | 5.50 | 3.75 | |
FW | incl. | 247.67 | 250.60 | 2.93 | 1.90 | 8.52 |
El Peñon Chile
The following table provides infill and exploration drill result highlights for the El Peñon mine for the period May 2024 to October 2024. Full infill and exploration drill results not included in this table, together with longitudinal sections and plans, are available at: https://panamericansilver.com/operations/gold-segment/el-penon/ .
Hole No. | Vein | From (m) | To (m) | Int. (m) | Est. True Width (m) | Au (g/t) | Ag (g/t) |
SIH0021 | Chiquilla Chica (C1) | 184.30 | 185.90 | 1.60 | 0.88 | 0.77 | 1019 |
UIH0049 | Chiquilla Chica (C1) | 40.05 | 41.70 | 1.65 | 1.46 | 0.44 | 2547 |
UIH0050 | Chiquilla Chica (C1) | 72.60 | 75.30 | 2.70 | 1.44 | 1.29 | 1181 |
UIH0056 | Chiquilla Chica (C1) | 85.60 | 87.10 | 1.50 | 0.95 | 0.22 | 578 |
UEH0024 | Dominadora | 106.15 | 135.00 | 28.85 | 4.10 | 3.62 | 1592 |
UEH0026 | Dominadora | 50.77 | 55.67 | 4.90 | 1.20 | 0.23 | 1349 |
UIV0077 | El Valle | 260.20 | 262.20 | 2.00 | 1.38 | 4.70 | 183 |
UIV0078 | El Valle | 256.30 | 257.50 | 1.20 | 1.20 | 4.70 | 257 |
UIV0079 | El Valle | 259.95 | 262.00 | 2.05 | 1.54 | 8.55 | 154 |
UIV0080 | El Valle | 231.20 | 232.15 | 0.95 | 0.83 | 16.63 | 721 |
UIV0083 | El Valle | 270.15 | 270.93 | 0.78 | 0.76 | 10.11 | 30 |
UIU0052 | La Paloma | 114.69 | 116.50 | 1.81 | 1.31 | 10.88 | 26 |
SIE0015 | Esmeralda | 248.60 | 249.50 | 0.90 | 0.54 | 10.10 | 1139 |
UIP0174 | Pampa Campamento | 351.13 | 352.10 | 0.97 | 0.52 | 9.50 | 664 |
UIP0176 | Pampa Campamento | 389.88 | 390.25 | 0.37 | 0.32 | 26.50 | 42 |
UIP0177 | Pampa Campamento | 291.53 | 293.60 | 2.07 | 1.05 | 18.89 | 746 |
UIP0178 | Pampa Campamento | 213.94 | 215.49 | 1.55 | 0.52 | 9.50 | 420 |
UIP0175 | Pampa Campamento (-35) | 184.95 | 186.15 | 1.20 | 0.65 | 15.33 | 297 |
UIP0189 | Pampa Campamento Diagonal sur | 134.70 | 135.52 | 0.82 | 0.76 | 16.13 | 258 |
UIS0028 | Pampa Campamento Diagonal sur | 60.38 | 62.19 | 1.81 | 1.71 | 10.65 | 186 |
SEP0055 | Pampa Sur | 374.00 | 376.00 | 2.00 | 1.09 | 9.90 | 97 |
SEP0072 | Pampa Sur | 464.00 | 465.00 | 1.00 | 0.69 | 5.50 | 403 |
SIP0051 | Pampa Sur | 364.18 | 365.70 | 1.52 | 0.98 | 8.49 | 156 |
SIP0056 | Pampa Sur | 398.07 | 399.29 | 1.22 | 0.92 | 4.76 | 359 |
SIP0063 | Pampa Sur | 410.53 | 411.44 | 0.91 | 0.67 | 5.63 | 405 |
SIP0064 | Pampa Sur | 352.12 | 352.60 | 0.48 | 0.42 | 18.80 | 1017 |
SIP0067 | Pampa Sur (+50) | 328.00 | 330.00 | 2.00 | 1.18 | 6.50 | 493 |
SIP0080 | Pampa Sur (+50) | 358.50 | 360.00 | 1.50 | 0.79 | 13.90 | 716 |
SIP0073 | Pampa Sur Este | 378.68 | 379.38 | 0.70 | 0.36 | 16.00 | 1651 |
SES0036 | Sorpresa | 333.80 | 334.20 | 0.40 | 0.30 | 22.00 | 838 |
UIS0023 | Sorpresa | 199.30 | 200.90 | 1.60 | 1.30 | 4.29 | 133 |
La Colorada, Mexico
The following table provides the drill result highlights for the La Colorada mine for the period May 2024 to October 2024. Full drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/silver-segment/la-colorada/ .
Hole No. | Vein | From (m) | To (m) | Interval (m) | Est. True Width (m) | Ag g/t | Au (g/t) | Pb % | Zn % |
S-104-24 | Mariana Vein | 621.50 | 622.60 | 1.10 | 0.95 | 9618 | 0.89 | 4.85 | 4.82 |
and | NC2 Splay | 795.95 | 796.70 | 0.75 | 0.53 | 4916 | 0.08 | 9.82 | 1.02 |
S-115-24 | San Geronimo Vein System | 461.10 | 463.65 | 2.55 | 1.08 | 1637 | 1.22 | 2.08 | 3.35 |
S-119-24 | Cristina Vein | 596.00 | 599.40 | 3.40 | 1.95 | 1470 | 0.03 | 3.15 | 3.23 |
S-138-24 | NC2 Vein | 695.60 | 701.60 | 6.00 | 4.60 | 666 | 0.90 | 1.32 | 2.74 |
S-146-24 | Mariana Vein | 701.05 | 704.55 | 3.50 | 2.47 | 1846 | 0.41 | 2.66 | 3.95 |
S-154-24 | Mariana Vein | 466.30 | 469.85 | 3.55 | 2.51 | 1189 | 0.24 | 0.82 | 1.09 |
and | NC2 Vein | 540.25 | 544.30 | 4.05 | 2.32 | 2615 | 0.34 | 2.31 | 5.16 |
S-161-24 | San Geronimo Splay | 703.15 | 710.45 | 7.30 | 5.59 | 456 | 0.94 | 1.10 | 2.41 |
S-168-24 | Cristina Vein | 361.90 | 367.00 | 5.10 | 3.28 | 308 | 4.55 | 10.18 | 13.09 |
and | San Geronimo Vein | 597.10 | 602.95 | 5.85 | 2.93 | 528 | 0.50 | 3.04 | 5.54 |
S-172-24 | San Geronimo Splay | 670.60 | 678.75 | 8.15 | 4.08 | 255 | 0.23 | 3.28 | 7.33 |
S-44-24 | San Geronimo Splay | 558.60 | 562.10 | 3.50 | 2.25 | 1420 | 0.60 | 2.04 | 1.93 |
S-47-24 | NC2 Vein | 771.85 | 783.65 | 11.80 | 5.90 | 837 | 0.39 | 2.97 | 8.01 |
S-75-24 | Mariana Vein | 616.40 | 620.00 | 3.60 | 1.80 | 3025 | 0.49 | 4.21 | 3.10 |
S-81-24 | NC2 Splay | 678.30 | 679.75 | 1.45 | 1.36 | 7634 | 1.83 | 1.46 | 3.62 |
U-09-24 | Sofia Vein | 268.55 | 269.40 | 0.85 | 0.74 | 4914 | 1.34 | 6.69 | 0.03 |
U-151-24 | CRD | 66.05 | 84.50 | 18.45 | 17.34 | 110 | 0.23 | 2.20 | 7.96 |
U-158-24 | Jenni Vein | 45.95 | 49.35 | 3.40 | 1.70 | 1825 | 1.05 | 2.35 | 6.16 |
U-96-24 | Real Vein | 252.55 | 255.60 | 3.05 | 2.76 | 749 | 0.63 | 13.01 | 8.97 |
La Colorada Skarn, Mexico
The following table provides infill and exploration drill result for the La Colorada Skarn deposit May 2024 to October 2024. Full drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/silver-segment/la-colorada-skarn/ .
Hole No. | From (m) | To (m) | Interval (m) (1) | Ag g/t | Cu % | Pb % | Zn % |
D-71-12-24 | 1102.45 | 1250.60 | 148.15 | 39 | 0.07 | 1.68 | 3.12 |
U-155-24 | 724.00 | 997.10 | 273.10 | 54 | 0.17 | 0.85 | 5.18 |
Incl. | 872.50 | 935.05 | 62.55 | 84 | 0.31 | 1.97 | 7.57 |
U-19-24 | 503.95 | 564.20 | 60.25 | 85 | 0.08 | 7.05 | 10.41 |
U-58-24 | 791.75 | 869.45 | 77.70 | 36 | 0.08 | 2.88 | 4.58 |
U-74-24 | 629.70 | 843.90 | 214.20 | 33 | 0.05 | 2.69 | 3.21 |
U-92-24 | 527.40 | 582.40 | 55.00 | 103 | 0.06 | 4.10 | 5.75 |
and | 806.40 | 929.65 | 123.25 | 134 | 0.07 | 1.02 | 4.38 |
(1) True widths of the mineralized intervals are unknown at this time. |
Huaron, Peru
The following table provides infill and exploration drill result highlights from the medium, lower and Horizonte sectors of the Huaron mine for the period May 2024 to October 2024. Full drill and channel sampling results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/silver-segment/huaron/ .
Hole No | Vein | Zone | From (m) | To (m) | Interval (m) | Est. True Width (m) | Ag g/t | Cu% | Pb% | Zn% |
DDH-U-040-24 | Cuerpo Andres | Horizonte | 51.65 | 52.30 | 0.65 | 0.56 | 722 | 0.12 | 6.06 | 1.90 |
and | Labor Este | Horizonte | 184.10 | 186.55 | 2.45 | 1.70 | 123 | 0.06 | 3.06 | 5.98 |
DDH-U-041-24 | Martin Ramal | Middle | 198.30 | 200.90 | 2.60 | 2.46 | 369 | 0.15 | 2.74 | 2.01 |
DDH-U-049-24 | Cuerpo Andres | Horizonte | 59.95 | 63.55 | 3.60 | 2.77 | 768 | 0.02 | 1.85 | 0.62 |
DDH-U-051-24 | Martin Ramal | Middle | 236.30 | 237.20 | 0.90 | 0.58 | 409 | 0.13 | 9.27 | 15.82 |
DDH-U-055-24 | Martin Ramal | Middle | 176.20 | 178.45 | 2.25 | 2.24 | 683 | 0.17 | 10.65 | 3.10 |
DDH-U-056-24 | Cuerpo Andres | Horizonte | 48.35 | 53.00 | 4.65 | 3.90 | 162 | 0.04 | 4.02 | 6.06 |
DDH-U-064-24 | Labor Este | Horizonte | 186.60 | 188.25 | 1.65 | 1.43 | 181 | 0.04 | 4.34 | 4.73 |
DDH-U-065-24 | Cometa Ramal | Horizonte | 390.80 | 394.80 | 4.00 | 3.04 | 133 | 0.13 | 2.19 | 4.65 |
DDH-U-068-24 | Cuerpo Andres | Horizonte | 56.75 | 57.60 | 0.85 | 0.65 | 459 | 0.07 | 9.43 | 6.72 |
and | Labor Este | Horizonte | 202.35 | 205.25 | 2.90 | 1.98 | 243 | 0.06 | 3.54 | 5.20 |
DDH-U-071-24 | Labor Este | Horizonte | 141.20 | 144.00 | 2.80 | 2.56 | 201 | 0.03 | 4.81 | 4.13 |
DDH-U-073-24 | Labor Este | Horizonte | 140.10 | 143.55 | 3.45 | 3.21 | 74 | 0.03 | 2.31 | 2.16 |
DDH-U-075-24 | Cuerpo Andres | Horizonte | 39.85 | 40.45 | 0.60 | 0.55 | 701 | 0.09 | 13.64 | 8.83 |
DDH-U-084-24 | Cuerpo Andres | Horizonte | 60.55 | 63.00 | 2.45 | 1.70 | 61 | 0.08 | 1.97 | 12.73 |
DDH-U-086-24 | Martin Ramal | Middle | 12.60 | 14.20 | 1.60 | 1.56 | 535 | 0.20 | 10.02 | 2.31 |
DDH-U-088-24 | Cometa Ramal | Horizonte | 398.85 | 404.20 | 5.35 | 3.66 | 114 | 0.10 | 1.83 | 3.55 |
DDH-U-100-24 | Cuerpo Andres | Horizonte | 264.85 | 267.25 | 2.40 | 1.64 | 115 | 0.04 | 2.85 | 3.89 |
DDH-U-105-24 | Cuerpo Andres | Horizonte | 54.90 | 56.65 | 1.75 | 1.40 | 87 | 0.06 | 1.77 | 8.47 |
DDH-U-108-24 | Cometa Ramal | Horizonte | 489.95 | 493.00 | 3.05 | 1.65 | 304 | 0.08 | 1.86 | 2.18 |
DDH-U-110-24 | Maria Ramal | Horizonte | 66.00 | 73.15 | 7.15 | 4.10 | 140 | 0.04 | 3.10 | 5.91 |
DDH-U-111-24 | Maria Ramal | Horizonte | 47.70 | 50.55 | 2.85 | 2.10 | 399 | 0.04 | 7.39 | 14.58 |
DDH-U-113-24 | Maria Ramal | Horizonte | 37.35 | 39.00 | 1.65 | 1.50 | 504 | 0.04 | 12.77 | 19.97 |
DDH-U-114-24 | Maria Ramal | Horizonte | 36.10 | 38.80 | 2.70 | 2.50 | 272 | 0.03 | 6.06 | 10.39 |
DDH-U-116-24 | Maria Ramal | Horizonte | 48.60 | 49.65 | 1.05 | 0.80 | 357 | 0.07 | 13.66 | 12.73 |
Minera Florida, Chile
The following table provides infill and exploration drill result highlights for the Minera Florida mine for January 2024 to October 2024. Full drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/gold-segment/minera-florida/ .
Hole | Vein | From (m) | To (m) | Interval (m) | Est. True Width (m) | Au (g/t) | Ag (g/t) | Zn % |
ALH4578 | Aurora | 115.25 | 116.10 | 0.85 | 0.71 | 12.62 | 47 | 0.46 |
ALH4598 | Bandolera | 86.50 | 88.80 | 2.30 | 2.19 | 4.84 | 4 | 3.01 |
ALH4607 | Bandolera | 109.05 | 110.65 | 1.60 | 1.25 | 11.15 | 6 | 2.61 |
ALH4482 | Central superior 1 | 119.85 | 124.65 | 4.80 | 2.68 | 8.80 | 410 | 0.20 |
ALH4426 | Cipres_1 | 143.17 | 145.08 | 1.91 | 1.19 | 7.29 | 7 | 1.48 |
ALH4460 | Cipres_1 | 138.90 | 140.05 | 1.15 | 0.72 | 17.92 | 15 | 1.14 |
ALH4421 | Don Leopoldo sur | 91.45 | 93.65 | 2.20 | 1.53 | 6.34 | 9 | 4.79 |
ALH4623 | Don Leopoldo sur | 116.60 | 118.20 | 1.60 | 1.28 | 8.29 | 7 | 0.40 |
ALH4505 | Gasparín Superior | 173.65 | 175.30 | 1.65 | 0.90 | 10.23 | 13 | 0.31 |
ALH4406 | Manda Norte | 148.40 | 149.30 | 0.90 | 0.62 | 29.68 | 13 | 0.04 |
ALH4687 | Maqui CII | 84.45 | 85.85 | 1.40 | 1.16 | 5.40 | 173 | 2.16 |
ALH4638 | Maqui CII | 128.85 | 132.25 | 3.40 | 1.97 | 9.38 | 23 | 4.96 |
ALH4690 | Maqui CII | 73.35 | 75.15 | 1.80 | 1.64 | 4.95 | 28 | 2.24 |
ALH4556 | Maqui CIII | 54.75 | 56.05 | 1.30 | 1.05 | 5.62 | 21 | 12.52 |
ALH4580 | Maqui CIII | 58.20 | 59.55 | 1.35 | 1.03 | 9.10 | 22 | 7.10 |
ALH4588 | Maqui CIII | 68.75 | 70.50 | 1.75 | 1.19 | 13.62 | 11 | 3.81 |
ALH4631 | Maqui CIII | 52.50 | 53.20 | 0.70 | 0.61 | 12.68 | 35 | 18.07 |
ALH4638 | Maqui CIII | 111.15 | 115.30 | 4.15 | 1.98 | 16.11 | 13 | 6.44 |
ALH4673 | Maqui CIII | 81.40 | 83.65 | 2.25 | 1.28 | 9.58 | 15 | 5.58 |
ALH4592 | Maqui Norte | 107.85 | 110.10 | 2.25 | 1.59 | 10.23 | 31 | 5.57 |
ALH4562 | Mila | 113.00 | 117.40 | 4.40 | 2.57 | 10.32 | 12 | 0.08 |
ALH4574 | Mila | 191.80 | 196.20 | 4.40 | 1.70 | 8.29 | 110 | 3.34 |
ALH4467 | Mila | 129.90 | 132.55 | 2.65 | 1.15 | 6.52 | 286 | 2.29 |
ALH4476 | Peque | 67.05 | 68.25 | 1.20 | 0.78 | 10.68 | 8 | 10.05 |
ALH4481 | Peque | 80.30 | 81.55 | 1.25 | 0.91 | 12.53 | 43 | 8.31 |
ALH4496 | Peque | 55.00 | 57.30 | 2.30 | 1.82 | 4.74 | 35 | 1.26 |
ALH4577 | Peque | 101.30 | 103.75 | 2.45 | 1.11 | 11.57 | 23 | 7.61 |
ALH4644 | Peque | 59.35 | 60.20 | 0.85 | 0.83 | 13.77 | 77 | 1.54 |
ALH4715 | Peque | 202.75 | 207.85 | 5.10 | 1.48 | 10.71 | 13 | 2.74 |
ALH4729 | Rafael II | 56.35 | 59.65 | 3.30 | 1.95 | 4.74 | 415 | 3.86 |
ALH4701 | Sat. 1 Maqui | 152.55 | 154.40 | 1.85 | 0.92 | 20.61 | 13 | 0.09 |
ALH4424 | Satelite Mila Sur 1 | 371.85 | 373.35 | 1.50 | 1.41 | 2.62 | 627 | 1.44 |
ALH4534 | Satélite Valeria 1 | 111.35 | 112.60 | 1.25 | 0.92 | 14.06 | 27 | 0.04 |
ALH4549 | Satélite Valeria 1 | 107.25 | 109.90 | 2.65 | 1.88 | 9.05 | 11 | 0.09 |
ALH4594 | Satélite Valeria 1 | 166.35 | 167.70 | 1.35 | 0.85 | 16.60 | 17 | 2.09 |
ALH4516 | Satélite Valeria 8 | 72.65 | 73.90 | 1.25 | 1.05 | 3.39 | 1645 | 0.18 |
ALH4521 | Satélite Valeria 8 | 91.00 | 92.15 | 1.15 | 0.82 | 11.64 | 55 | 2.60 |
ALH4617 | Satélite Valeria 8 | 61.75 | 62.95 | 1.20 | 1.18 | 15.05 | 15 | 0.83 |
ALH4436 | Satélite VCS 21 | 51.50 | 52.65 | 1.15 | 0.68 | 15.53 | 56 | 0.81 |
ALH4426 | Sorpresa | 41.85 | 44.20 | 2.35 | 2.14 | 5.84 | 12 | 1.35 |
ALH4449 | Sorpresa | 43.60 | 46.30 | 2.70 | 1.82 | 5.05 | 7 | 0.97 |
ALH4600 | Sorpresa | 20.90 | 26.50 | 5.60 | 2.93 | 5.34 | 18 | 3.40 |
ALH4657 | Sorpresa | 21.70 | 28.10 | 6.40 | 2.95 | 8.79 | 10 | 1.48 |
ALH4672 | Sorpresa | 13.25 | 15.00 | 1.75 | 1.34 | 6.67 | 13 | 1.61 |
Whitney Project (Timmins), Canada
The following table provides infill and exploration drill result highlights from the Hallnor/Bonetal and Broulan Reef deposits of the Whitney Project for the period November 2023 to September 2024. Full infill and exploration drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/gold-segment/timmins/ .
Hole No. | Zone | From (m) | To (m) | Int (m) | Est. True Width (m) | Au g/t |
TW23-749 | Broulan Reef | 61.0 | 62.0 | 1.0 | 0.8 | 28.40 |
TW23-750 | Hallnor | 444.2 | 462.0 | 17.8 | 11.7 | 3.28 |
Incl. | 454.0 | 461.0 | 7.0 | 4.5 | 5.98 | |
TW23-751 | Hallnor | 411.2 | 430.0 | 18.8 | 13.7 | 2.11 |
Incl. | 415.0 | 425.0 | 10.0 | 7.3 | 3.27 | |
TW23-754 | Hallnor | 548.0 | 561.0 | 13.0 | 10.1 | 3.33 |
TW23-756 | Hallnor | 319.0 | 320.0 | 1.0 | 0.6 | 65.30 |
408.5 | 428.0 | 19.5 | 10.8 | 2.91 | ||
Incl. | 409.0 | 415.0 | 6.0 | 3.3 | 6.07 | |
TW24-758 | Hallnor | 472.7 | 476.9 | 4.2 | 2.7 | 19.89 |
TW24-759A | Hallnor | 500.0 | 508.0 | 8.0 | 5.1 | 5.15 |
TW24-765 | Hallnor | 118.0 | 119.0 | 1.0 | 0.8 | 58.20 |
TW24-770 | Hallnor | 99.0 | 117.0 | 18.0 | 14.5 | 3.42 |
Incl. | 99.0 | 110.0 | 11.0 | 8.8 | 4.58 | |
and | 99.7 | 102.0 | 2.3 | 1.8 | 14.40 | |
TW24-771 | Hallnor | 120.5 | 130.0 | 9.5 | 7.2 | 31.50 |
Incl. | 122.0 | 123.0 | 1.0 | 0.8 | 284.00 | |
TW24-772 | Bonetal | 132.0 | 133.0 | 1.0 | 0.8 | 71.40 |
TW24-776 | Bonetal | 110.0 | 112.0 | 2.0 | 1.5 | 21.75 |
TW24-780 | Bonetal | 193.0 | 194.0 | 1.0 | 0.8 | 67.80 |
TW24-782 | Bonetal | 125.0 | 140.0 | 15.0 | 11.4 | 3.78 |
TW24-783 | Bonetal | 115.0 | 127.0 | 12.0 | 9.8 | 2.74 |
139.0 | 152.0 | 13.0 | 10.6 | 3.37 | ||
TW24-786 | Broulan Reef | 169.5 | 180.5 | 11.0 | 7.6 | 6.26 |
Incl. | 175.0 | 176.0 | 1.0 | 0.7 | 11.80 | |
also incl. | 178.6 | 179.1 | 0.5 | 0.3 | 86.30 | |
TW24-793 | Broulan Reef | 197.1 | 200.0 | 2.9 | 2.4 | 360.18 |
Incl. | 197.6 | 198.1 | 0.5 | 0.4 | 1940.00 | |
also incl. | 198.1 | 198.5 | 0.4 | 0.3 | 140.00 | |
also incl. | 198.5 | 199.0 | 0.5 | 0.4 | 31.40 | |
TW24-802 | Broulan Reef | 116.8 | 117.2 | 0.4 | 0.3 | 378.00 |
TW24-804 | Broulan Reef | 138.5 | 144.3 | 5.8 | 4.3 | 4.69 |
Incl. | 140.5 | 141.0 | 0.5 | 0.4 | 41.20 |
General Notes with Respect to Technical Information
Grades are shown as contained metal before mill recoveries are applied. The Company has undertaken a verification process with respect to the data disclosed in this news release.
Samples are analyzed at a variety of laboratories, including by in-house staff at the mine (Jacobina and La Colorada), mine laboratories operated by third party independent commercial labs (Huaron), and commercial laboratories off-site (La Colorada, El Peñon, Minera Florida, Whitney and Jacobina). All the assay data reported in this news release has been subjected to the industry standard quality assurance and quality control ("QA/QC") program including the submission of certified standards, blanks, and duplicate samples. The results are reviewed on a monthly and quarterly basis by management. In general, the assay analytical technique for silver, lead, zinc and copper is acid digestion with either ICP or atomic absorption finish. The analytical technique for gold uses fire assay and atomic absorption spectrometry (AAS) finish. A gravimetric finish would be used if the gold assay exceeds > 10 g/t (or >5 g/t at El Peñon). The results of the QA/QC samples submitted for the resource databases demonstrate acceptable accuracy and precision. The offsite commercial laboratories are independent from Pan American and certified by ISO 17025:2017.
The Qualified Persons are of the opinion that the sample preparation, analytical, and security procedures followed for the samples are sufficient and reliable for the purpose of this news release and for the purpose of any future mineral resource and mineral reserve estimates. There were no limitations on the Qualified Persons' verification process. Pan American is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data reported herein.
Mineral resources and mineral reserves are as defined by the Canadian Institute of Mining, Metallurgy and Petroleum.
See the Company's Annual Information Form dated March 26, 2024, available at www.sedarplus.com , or the Company's most recent Form 40-F filed with the United States Securities and Exchange Commission (the "SEC") for further information on the Company's material mineral properties, including detailed information concerning associated QA/QC and data verification matters, the key assumptions, parameters and methods used by the Company to estimate mineral reserves and mineral resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of the Company's mineral reserves and mineral resources.
Technical information contained in this news release with respect to Pan American has been reviewed and approved by Christopher Emerson, FAusIMM, Vice President Exploration and Geology, and Martin Wafforn, P.Eng., Senior Vice President Technical Services and Process Optimization, each of whom is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (‘‘NI 43-101''). Pan American is authorized by The Association of Professional Engineers and Geoscientists of the Province of British Columbia to engage in Reserved Practice under Permit to Practice number 1001470.
Cautionary Note to US Investors
This news release has been prepared in accordance with the requirements of Canadian NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.
Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the SEC, and information concerning mineralization, deposits, mineral reserve and mineral resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies. The requirements of NI 43-101 for identification of "reserves" are not the same as those of the SEC and may not qualify as "reserves" under SEC standards. Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Under Canadian securities laws, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases.
About Pan American Silver
Pan American Silver is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com
Follow us on LinkedIn
Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the extent of, and success related to any future exploration or development programs, including with respect to its Jacobina, El Peñon, La Colorada, Minera Florida, Huaron and Timmins properties and for its La Colorada Skarn and Whitney projects, and the potential impact of any such drill results on the Company's mineral reserves or mineral resources.
These forward-looking statements and information reflect Pan American's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: tonnage of ore to be mined and processed; ore grades and recoveries; prices for silver, gold and base metals remaining as estimated; currency exchange rates remaining as estimated; capital, decommissioning and reclamation estimates; our mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to properties and the surface rights necessary for our operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in silver, gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the PEN, MXN, ARS, BOB, GTQ, CAD, CLP, and BRL versus the USD); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments, including legal restrictions relating to mining, risks relating to expropriation, and risks relating to the constitutional court-mandated ILO 169 consultation process in Guatemala; diminishing quantities or grades of mineral reserves as properties are mined; increased competition in the mining industry for equipment and qualified personnel; the duration and effects any pandemics on our operations and workforce; and those factors identified under the caption "Risks Related to Pan American's Business" in Pan American's most recent form 40-F and Annual Information Form filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Although Pan American has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near and longer term prospects and may not be appropriate for other purposes. Pan American does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241209583019/en/
For more information contact:
Siren Fisekci
VP, Investor Relations & Corporate Communications
Ph: 604-806-3191
Email: ir@panamericansilver.com
News Provided by Business Wire via QuoteMedia
Boab Metals Limited (ASX: BML) – Trading Halt
Boab Metals Limited (ASX:BML) (the “Company”) hereby requests a trading halt of its securities be granted by the ASX effective immediately, pending a release of an announcement regarding an Offtake and Project Finance Agreement. The trading halt will last until the earlier of commencement of trading on Wednesday, 11 December 2024 or the release to the market of an announcement as specified above. The Company is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt. This request was authorised for release by the Board of the Company.
Description
The securities of Boab Metals Limited (‘BML’) will be placed in trading halt at the request of BML, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 11 December 2024 or when the announcement is released to the market.
ASX Compliance
Click here for the full ASX Release
This article includes content from Boab Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Silver Tiger Announces Filing of Updated Mineral Resource Estimate and Pre-Feasibility Study Technical Report for the El Tigre Silver-Gold Project
Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") is pleased to announce the filing of a Preliminary Feasibility Study(" PFS") for its 100% owned, silver-gold El Tigre Project (the "Project" or "El Tigre") located in Sonora, Mexico. The Technical Report supports the scientific and technical disclosure in the Company's news release dated October 22, 2024, announcing the results of an updated Mineral Resource Estimate and Pre-Feasibility Study. The Technical Report is available at www.sedarplus.ca under the Company's profile.
The updated MRE also contains an Out-of-Pit Mineral Resource that Silver Tiger plans to study in a Preliminary Economic Assessment in H1-2025.
Highlights of the PFS are as follows (all figures in US dollars unless otherwise stated):
- After-Tax net present value ("NPV") (using a discount rate of 5%) of US$222 million with an After-Tax IRR of 40.0% and Payback Period of 2.0 years (Base Case);
- 10-year mine life recovering a total of 43 million payable silver equivalent ounces ("AgEq") or 510 thousand payable gold equivalent ounces ("AuEq"), consisting of 9 million silver ounces and 408 thousand gold ounces;
- Total Project undiscounted after-tax cash flow of US$318 million;
- Initial capital costs of $86.8 million, which includes $9.3 million of contingency costs, over an expected 18-month build, expansion capital of $20.1 million in year 3 and sustaining capital costs of $6.2 million over the life of mine ("LOM");
- Average LOM operating cash costs of $973/oz AuEq, and all in sustaining costs ("AISC") of $1,214/oz AuEq or Average LOM operating cash costs of $12/oz AgEq, and all in sustaining costs ("AISC") of $14/oz AgEq;
- Average annual production of approximately 4.8 million AgEq oz or 56.7 thousand AuEq oz; and
- Three (3) years of production in the Proven category in the Phase 1 Starter Pit.
Preliminary Feasibility Summary
The PFS was prepared by independent consultants P&E Mining Consultants Inc. ("P&E"), with metallurgical test work completed by McClelland Laboratories, Inc. - Sparks, Nevada, process plant design and costing by D.E.N.M. Engineering Ltd., environmental and permitting led by CIMA Mexico, and geotechnical assessment of heap leach design, waste dump design and pit slopes by WSP Global Inc. Table 1 shows key assumptions and results.
Table 1: El Tigre PFS Key Economic Assumptions and Results(1-2)
- Grades shown are LOM average process plant feed grades include only OP sources. Mining losses and external dilution of 3.7% were incorporated in the mining schedule.
- Column testing indicated both variable gold and silver recovery for the oxide material vs the previously reported non-discounted PEA (83% and 64%) at a 3/8-in crush size. In the process design and financial model for the PFS process design and financial model recoveries have been discounted by 3% for leaching in the field versus optimum conditions in the laboratory and shown accordingly. The presence of transition and sulfide zones has affected both the gold and silver recoveries and are shown as separate recoveries. These are reasonable and appropriate for use in this PFS design and economic analysis.
Qualified Persons
Mineral Resource Estimate: Dave Duncan P. Geo. VP Exploration of Silver Tiger, Charles Spath P.Geo., VP of Technical Services of Silver Tiger, and Fred Brown, P.Geo RM-SME Senior Associate Geologist of P&E Mining Consultants, and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
Preliminary Feasibility Study: Andrew Bradfield P. Eng of P&E Mining Consultants, Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants and David J. Salari, P. Eng. of D.E.N.M. Engineering Ltd are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
A Technical Report is being prepared on the Preliminary Feasibility Study in accordance with National Instrument 43-101 ("NI-43-101"), and will be available on the Company's website and SEDAR within 45 days of the date of this news release. The effective date of this Preliminary Feasibility Study is October 22, 2024.
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large epithermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre Vein extended 1,450 metres along strike and was mined on 14 levels to a depth of approximately 450 metres. The Seitz Kelley Vein was mined along strike for 1 kilometre to a depth of approximately 200 meters. The Sooy Vein was only mined along strike for 250 metres to a depth of approximately 150 metres. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, Mineral Resources and Reserves, the ability to convert Inferred Mineral Resources to Indicated Mineral Resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.