Silver prices breached $30/oz in the second half of May 2024 as investor demand drove prices to their highest in more than a decade. Strong imports and low stocks in China reflect robust solar industry demand, which is expected to maintain momentum in China and elsewhere as economies ramp up their clean energy ambitions. With mine supply struggling to keep pace with demand, we believe further price appreciation is likely, making Silver Crown Royalties well-placed to leverage this positive silver market.
Silver Crown Royalties (CBOE CA:SCRI, OTCQX:SLCRF) is revenue-generating silver-only royalty company focusing on silver as by-product credits. The company targets royalty originations on producing or near-producing assets in tier 1 jurisdictions. The company has two current sources of revenue (Gold Mountain and Pilar Gold) and continues to build on this foundation, targeting additional operational silver-producing projects.
As a pure-play silver equity company, Silver Crown offers organic growth, exploration upside and dividend payments. The company’s business model includes acquiring a guaranteed amount of silver delivered as by-product from mining operations, paying a dividend to shareholders, and keeping all excess cash in silver bullion. “An investment in Silver Crown is a protection against currency devaluation,” says Peter Bures, founder, chairman and CEO of Silver Crown.
Diversification is a key strategy for the company, with the objective to grow its portfolio to more than 200 silver-only royalties that pay dividends, creating more value for shareholders.
Silver Crown is led by board members, founders and advisors with hundreds of years of collective experience in world renowned international brokerage, royalty, fund management and mining companies.
Gold Mountain Mining: In Q2 2023, Silver Crown Royalties entered into a royalty purchase agreement with Gold Mountain Mining (TSX:GMTN;OTC:GMTNF) on 90 percent of the aggregate gross proceeds of silver sold from the Elk Gold Mine. The Elk Gold Project is a past producing and newly permitted mine located approximately 57 km from Merritt, British Columbia. The claims and leases comprising the Elk Gold Project cover over 21,000 hectares.
Pilar Gold: On August 21, 2023, Silver Crown announced its entry into a definitive agreement providing for 90 percent of the silver sold as a result of the processing of ores extracted from Pilar Gold’s PGDM complex and related milling operations in Goias State, Brazil. Pilar Gold has a portfolio of operations in Brazil with an annual production of ~45,000 oz gold and medium term aspirations to reach 125,000 oz gold per annum. The company acquired its flagship PGDM operation in April 2021, which includes three underground mines, one open-pit project in the development stage, and a 4,500 tpd modern processing facility along with significant associated infrastructure. PGDM uses a "hub and spoke" strategy with satellite mines in the Goiás region, through which it plans to achieve aggressive production growth over the near term.
Tucano Gold: On January 18, 2024, Silver Crown announced its entry into a royalty purchase agreement with Tucano Gold, whereby Tucano Gold will deliver 90 percent of the payable silver produced, but no less than the cash equivalent of 7,000 oz annually from the Mina Tucano project. Assuming the closing of the transaction, minimum silver equivalent deliveries start on January 1, 2025, and continue for up to 10 years. Mina Tucano is an open-pit gold mining operation, fully equipped with a modern 10,000 tpd gold plant and sizable resources. Up until 2020, it was producing more than 120,000 oz gold per annum at grades of 1.2 to 1.4 grams per ton.
Peter Bures is a geological and mineral engineer with more than 25 years of mining and metals capital market expertise. Recent experience includes CEO at C2C Gold, co-founder and chief business development officer at Star Royalties, director of global mining sales at BMO Capital Markets (New York), and portfolio management at Sentry Investments, where he co-managed several top-ranked funds. He also held various equity research roles, including VP analyst at Canaccord Genuity, HSBC (New York and Toronto), and Orion Securities. Bures began his career as a mining engineer at Placer Dome and is a graduate of BASc Geo. Eng. at the University of Toronto.
Hassnain Raza is a CPA with more than 20 years of financial experience in Canada, the USA, Europe, Asia and the Caribbean, serving both public and private sector clients. Raza is the founding partner of a boutique consulting firm specializing in CFO advisory services to start-ups and SMEs. Previously held senior management and leadership roles at Namaste Technologies and Senior Manager at KPMG. He is the founder and patron of Allama Iqbal Model School in Pakistan, providing free education (kindergarten to grade 10).
Patrick Sullivan is a mining, M&A, and securities lawyer at Osler, Hoskin & Harcourt LLP. With over a decade of experience in the mining sector, he has advised a wide range of clients in connection with joint ventures, options, mineral property acquisition, royalty and streaming agreements, and mineral tenure issues. Sullivan has acted on several of the most significant mining transactions in Canada, including South32 Limited’s $2.1 billion acquisition of Arizona Mining, Washington Companies’ $1.2 billion acquisition of Dominion Diamond, and Hudbay Minerals’ $555 million acquisition of Augusta Resource Corporation.
Wray Carvelas provided 25 years of visionary leadership, developing and implementing ambitious strategic plans. Carelas is the founder and CEO of Ascencia Group, providing strategic and executive leadership development to the mining industry. He is also a director at Heritage Mining. Carvelas’ previous experience includes senior positions at DRA Global responsible for business growth and development in North and South America, as well as KBR, ELB, and De Beers managing development, production and metallurgical (R&D and capital management).
Frank Balint is a seasoned mining executive with over 35 years of broad-ranging experience in the mining industry. He has been involved in all aspects of the mining life cycle and possesses strong technical skills backed up by solid financial experience that have resulted in a strong exploration and acquisition track record. Previously a senior member of the executive team at Inmet for nearly 20 years, he was crucial in executing corporate strategy that saw Inmet grow its market cap to over $5 billion. He was the former director of Wolfden Resources, which was sold to Zinifex for $363 million. Balint is a licensed professional geologist in Ontario, British Columbia, and the Northwest Territories.
(TheNewswire)
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Silver Crown Royalties Inc. ("Silver Crown", "SCRi", the "Corporation", or the "Company") (Cboe:SCRI; OTCQX:SLCRF; FRA:QS0) is pleased to announce financial results and MD&A for the third quarter ended September 30, 2024 are being filed on SEDAR+ and our website today
In the third quarter SCRi received payments on 4,245 silver ounces (C$164,425). This compares favorably to the prior quarter ended June 30, 2024 of 2,880 ounces (C$107,875) and last year's third quarter ended September 30, 2023 of 1,500 ounces (C$42,627).
Peter Bures, Silver Crown's Chief Executive Officer, commented, "We're very proud to note that over the last year, we were able to increase silver delivery payments by 183%. Further, we increased revenues by almost 300% while the silver price increased 40% over the same timeframe. With our robust pipeline of opportunities, we continue to target aggressive silver delivery growth into next year and beyond."
Summary of Quarterly Results:
Three | Three | Three | |
Attributable Silver Deliveries | 4,245 | 2,880 | 1,500 |
% change (Q/Q and Y/Y) | 47% | 183% | |
Revenue | 164,425 | 107,785 | 42,627 |
% change (Q/Q and Y/Y) | 52% | 286% |
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown is a publicly traded, silver royalty company. SCRi currently has four silver royalties of which two are revenue-generating. Its business model presents investors with precious metals exposure allowing for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders.
For further information, please contact:
Peter Bures
Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include but are not limited to statements with respect to our robust pipeline of opportunities, we continue to target aggressive silver delivery growth into next year and beyond . Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi 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. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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TORONTO, ON TheNewswire - October 28, 2024 Silver Crown Royalties Inc. ("Silver Crown", "SCRi", the "Corporation", or the "Company") (Cboe:SCRI; OTCQX:SLCRF; FRA:QS0) is pleased to announce the signing of a definitive royalty purchase agreement (the " Agreement ") with BacTech Environmental Corporation (" BacTech ") (CSE:BAC, OTCQB:BCCEF). Pursuant to the terms of the Agreement, SCRi will be granted a royalty on BacTechs's future bioleaching facility in Tenguel, Ecuador (the " Project ") equal to the cash equivalent of 90% of the silver processed at Project (the " Royalty "). Additionally, the Royalty provides that SCRi is to receive payments of a minimum 35,000 ounces annually for at least ten years following the commencement of regular processing operations at the Project (" Commercial Production ").
The total purchase price for the Royalty is C$4,000,000 in SCRi units (" Units ") at a deemed value of C$10.00 per Unit, with each Unit consisting of a common share of SCRi and a common share purchase warrant entitling the holder to acquire an additional Common Share at a price of C$16.00 for a period of 36 months from issue, will be deployed in three tranches based on milestones as follows:
1) 100,000 Units will be issued to Bactech upon the grant of the Royalty at Closing,
2) 100,000 Units will be issued upon BacTech successfully financing the Project, and
3) 200,000 Units will be issued upon BacTech achieving Commercial Production.
Peter Bures, Silver Crown's Chief Executive Officer, commented, "We believe this transaction opens the door to a very exciting new opportunity for Silver Crown Royalties in Ecuador—a country with immense potential that is gaining recognition from companies such as Lundin Gold, Franco-Nevada, Osisko Gold Royalties, BHP and SolGold. Additionally, we are eager to cultivate a partnership with an operator that utilizes environmentally sensitive methods for precious metals extraction and seeks an innovative approach to further unlock value."
Ross Orr, BacTech's President and Chief Executive Officer, added: "We are happy to be working with Silver Crown. Many of the projects that we are looking at contain complimentary amounts of silver, and, as a shareholder in SCRi, it only makes sense for them to be our first call with any future silver ounces we acquire. We look forward to developing a long-standing mutual relationship with Silver Crown."
ABOUT BACTECH ENVIRONMENTAL
BacTech Environmental Corporation is a company that specializes in environmental technology. We use a process called bioleaching to recover metals like gold, silver, cobalt, nickel, and copper while also safely removing harmful contaminants like arsenic. This process is eco-friendly and uses naturally occurring bacteria that are safe for both humans and the environment. By using our proprietary method of bioleaching, we can neutralize toxic concentrates and tailings while also creating profitable opportunities. The company is publicly traded on several stock exchanges, including the CSE, OTCQB, and Frankfurt Stock Exchange.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown is a publicly traded, silver royalty company. SCRi currently has four silver royalties of which two are revenue-generating. Its business model presents investors with precious metals exposure allowing for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders.
For further information, please contact:
Peter Bures
Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include but are not limited to statements with respect to SCRi's ability to achieve its strategic objectives in the future and its ability to target additional operational silver-producing projects. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi 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. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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TORONTO, ON, October 17, 2024 TheNewswire Silver Crown Royalties Inc. ("Silver Crown", "SCRi", the "Corporation", or the "Company") (Cboe: SCRI; OTCQX: SLCRF; FRA: QS0) is excited to announce the appointment of Salman Partners as a Strategic Advisor to the Company.
CEO of Salman Partners, industry icon Terry Salman raised over $20 billion for over 400 exploration and mining companies. His 35+ year portfolio of experience includes executive roles at Nesbitt Thomson (acquired by BMO) where he was instrumental in forming the mining team and its mining conference in the 1990s.
Adding to his mining legacy is his dynamic public service presence, recently appointed to the Order of Canada for his contributions to mining exploration and for his generous philanthropy and community activism. He served with the United States Marine Corps and is a Vietnam veteran. Mr. Salman received an MBA from the University of Hartford. You can read about Mr. Salman's life's work in his recently published book "What We Give: From Marine to Philanthropist: A Memoir," available at https://www.whatwegivebook.com/ .
Mr. Salman remarked: "I am intrigued by this appointment as Strategic Advisor to Silver Crown Royalties. Silver Crown's unique royalty model offers investors a new approach to silver investing. I look forward to an interesting and progress driven working relationship."
"We are thrilled to welcome Terry Salman to our team as advisor. Terry's decades of experience in mining finance combined with his deep industry insights and strong leadership make him an invaluable asset to our team. Terry's commitment to excellence and his proven track record in the sector will be instrumental as we continue to grow and achieve our strategic objectives", commented Peter Bures CEO of Silver Crown Royalties
ABOUT SALMAN PARTNERS
Salman Partners is an independent advisory firm with a distinguished 30-year history in the financial services industry. Since its incorporation in September 1994, the firm has evolved from its origins as a licensed broker-dealer in Canada and the United States to become a trusted advisor in the resource sector. Throughout its extensive history, Salman Partners has provided expert guidance to over 400 companies, maintaining a rich tradition of excellence and integrity in financial advisory services.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, SCRi is a publicly traded, revenue-generating silver-only royalty company focusing on silver as byproduct credits. SCRi aims to minimize the economic impact on mining projects while maximizing returns for shareholders. SCRi presently has two sources of revenue and continues to build on this foundation, targeting additional operational silver-producing projects.
For further information, please contact:
Peter Bures
Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to statements with respect to SCRi's ability to achieve its strategic objectives in the future and its ability to target additional operational silver-producing projects. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi 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. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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Toronto, ON TheNewswire - October 8th, 2024 - Silver Crown Royalties Inc. ("Silver Crown", "SCRi", the "Corporation", or the "Company") (Cboe: SCRI, OTCQX: SLCRF, FRA: QS0 ) is pleased to announce that the Company's common shares now trade on the Frankfurt Stock Exchange ("FSE") under the symbol " QS0 ", effective October 7 th 2024.
The Frankfurt Stock Exchange is one of the world's largest (behind only the Nasdaq and NYSE) organized exchange-trading markets in terms of turnover and dealings in securities. This European listing should help increase the Company's trading liquidity and facilitate investment in Silver Crown Royalties by European investors in major financial hubs through its Frankfurt listing.
Peter Bures, Chairman and CEO of Silver Crown Royalties, commented: "We look forward to enhancing our exposure to European investors, which should help improve liquidity. Additionally, being listed on the FSE enhances the company's visibility in Europe, which is home to significant mining investors, especially in countries like Germany and Switzerland."
ABOUT THE FRANKFURT STOCK EXCHANGE:
The Frankfurt Stock Exchange (FSE), one of the world's largest and most efficient trading platforms, is operated by Deutsche Börse AG and is based in Frankfurt, Germany. As Europe's largest stock exchange by market capitalization and the third largest globally, the FSE serves as a key financial hub, connecting companies to a vast network of international investors. The exchange facilitates the trading of a wide range of financial instruments, including equities, bonds, derivatives, and exchange-traded funds (ETFs). The FSE is renowned for its robust trading infrastructure, high liquidity, and transparent regulatory environment. It offers companies access to European and global capital markets, providing significant opportunities for businesses looking to expand their investor base, enhance visibility, and increase liquidity. The exchange operates several market segments, including the Prime Standard, General Standard, and Open Market (Freiverkehr), catering to companies of varying sizes and sectors, with more flexible regulatory requirements for smaller and mid-cap businesses.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, SCRi is a publicly traded, revenue-generating silver-only royalty company focusing on silver as byproduct credits. SCRi aims to minimize the economic impact on mining projects while maximizing returns for shareholders. SCRi presently has two sources of revenue and continues to build on this foundation, targeting additional operational silver producing projects.
For further information, please contact:
Peter Bures
Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, "We look forward to enhancing our exposure to European investors, which should help improve liquidity. Additionally, being listed on the FSE enhances the company's visibility in Europe, which is home to significant mining investors, especially in countries like Germany and Switzerland." Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi 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. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Couloir Capital is pleased to announce it has initiated research coverage on Silver Crown Royalties Inc. (CBOE CA: SCRI) (OTCQX: SLCRF) ("SCRI," or "Company"). The new report by Couloir Capital's Mining Analyst, Tim Wright, MSc., CFA, is titled "An emerging pure-play silver royalty company."
Report excerpt: "With the royalty and streaming business model, the royalty/streaming company provides funds to an operation (exploration, mining, mill, autoclave) in need of capital and, in return, either receive a portion of future revenue generated by an operation (royalty) or a portion of the physical metal produced (streaming). Royalties often cover multiple minerals or metals and offer no investor protection but are generally registered on title. Streams offer minimal protection for investors, are generally not registered on title, tend to cover a single element/mineral, and are considered a secured debt instrument. Registered on title means that a royalty/streaming agreement is legally recognized and attached to the property itself. This ensures that the rights to receive proceeds from any production remain intact if the property is transferred or sold.
Figure 1: Map showing SCRI royalties
Source: SCRI corporate presentation
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Silver Crown Royalties combines the best attributes of the streaming and the royalty model into one business. A key feature of SCRI is that it focuses only on silver royalties (90% silver only), setting it apart from other companies that pursue the royalty business model. It increases investor protection by ensuring all royalties are always registered on title, tying a minimum delivery obligation to funding, and spreading out investments in tranches contingent on certain milestones being achieved. The royalties should be mutually beneficial to both parties involved. SCRI's strategy involves acquiring silver royalties in projects and operations where silver's contribution to overall expected revenue is small (usually under 2%). This is important because it allows operators to derive value for a by-product or co-product of an asset without having a hefty royalty or streaming agreement reducing the profits from the main economic driver of a mine."
The report can be accessed through Couloir Capital's portal: https://www.couloircapital.com/research-portal. Investors are encouraged to sign up for a subscription to receive research reports and other valuable information.
About Couloir Capital Ltd.
Couloir Capital Ltd. is an investment research firm with a team of experienced investment professionals dedicated to providing opportunities in the natural resource exploration and development sectors. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, LSEG, and many other portals, as well as through our social media and large email distribution list. To subscribe, please visit: https://www.couloircapital.com/research-portal.
For further information, please contact:
Rob Stitt, Managing Director, Couloir Capital Ltd.
Email: rstitt@couloircapital.com
DISCLAIMER:
Analyst Disclosure: Couloir Capital does hold shares or options in the Company. The analyst does not hold shares or options in the Company.
The company has retained Couloir Capital under a service agreement that includes analyst research coverage.
Investors are encouraged to read the complete list of disclosures contained in the report.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224646
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HIGHLIGHTS
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).
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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 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.
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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.
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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.
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.
El Peñon, Chile
El Peñon is a large, high-grade gold-silver epithermal system located in northern Chile.
La Colorada mine, Mexico
The La Colorada mine is a silver-rich polymetallic operation located in the state of Zacatecas, Mexico.
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.
Huaron mine, Peru
The Huaron mine is a polymetallic (Zn-Pb-Ag-Cu) deposit situated in the Cerro de Pasco Department of central Peru.
Minera Florida, Chile
Minera Florida is an epithermal Au-Ag-Zn underground mine located in the coastal region of central Chile, southwest of Santiago.
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").
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
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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
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