Pan American Silver Announces Results of Joaquin Preliminary Feasibility Study

Pan American Silver (NASDAQ: PAAS; TSX: PAAS) (“Pan American”, or the “Company”) has finalized a preliminary feasibility study on the La Morocha deposit, which is part of the Joaquin project (“Joaquin”), located in Santa Cruz, Argentina.
The study recommends the development of the La Morocha deposit as an underground mine, with processing to occur at Pan American’s Manantial Espejo mill. Based on the results of the preliminary feasibility study, Pan American’s Board of Directors has approved a capital investment of approximately $37.8 million to construct the La Morocha underground mine and fund activities up to the point of commercial production.
Michael Steinmann, President and Chief Executive Officer of Pan American, said:

“Developing Joaquin is a low-risk project that enhances the value of our Manantial Espejo processing plant and infrastructure assets. The ore from La Morocha will supplement ore feed from the underground mine and stockpiles at Manantial Espejo, as well as the feed from our COSE project.
We expect the combined production from these sources to contribute approximately 21 million ounces of silver to Pan American’s consolidated silver production over the 2018 to 2021 time period.”

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