Silvertip mine BC-minCoeur Mining highlighted new drilling results at the recently discovered Southern Silver Zone at the Silvertip mine in British Columbia and at the four mineralized zones within the Crown Block — Daisy, Secret Pass, SNA and C-Horst — in Nevada. Through the first four months of the year, Coeur drilled approximately 103,750 meters (m) at six different locations, which is a 66% increase compared to the same period in 2020. Coeur said it anticipates investing $68 million in exploration this year, which would make this the largest exploration campaign in Coeur’s history and more than 30% larger than last year’s exploration investment.

The new Silvertip zone represents significant near-mine, high-grade resource growth potential, according to the company. Underground drilling at Silvertip has discovered a new mineralized zone called the Southern Silver Zone, located adjacent to and enveloping the historic 65 Zone manto mineralization. The company said its grade and orientation suggest the opportunity for bulk mining, which has the potential to lead to improved project economics.

“We are carrying out our most active exploration campaign in Coeur’s history with up to 22 drill rigs deployed across six sites, with positive results rolling in on a regular basis,” said Hans J. Rasmussen, senior vice president of exploration. “This update emphasizes the opportunity for growth at Silvertip and Crown, two of our most recent asset additions in top jurisdictions in line with our strategy, both of which continue to demonstrate significant upside potential.”

Drilling at Silvertip continues to show promising results, with the most recent assays from a hole at the Southern Silver Zone, which cut roughly 51 feet of massive sulfide mineralization hosted in vertically oriented breccia material, Rasmussen said. “Successful results like these continue to reinforce Silvertip’s status as one of the world’s highest-grade silver-zinc-lead deposits and provide valuable data points as we work toward our goal of ending the year with a compelling business case to justify moving forward with an expansion and restart.”

At Crown, Coeur is beginning to test the true potential of an immense district, following the receipt of a 300-acre disturbance permit in late 2020. The company expects to receive an amended permit during the third quarter to allow it to begin step-out drilling to test the growth potential of C-Horst, which was a new discovery in April 2020.

“We plan to complete an optimized resource and financial model for the entire district by the end of the year, which will lay the foundation for an initial economic assessment that we expect to release around mid-2022, highlighting the potential to combine and optimize a series of open pit, heap leach operations that incorporate all four of the mineralized zones within the Crown Block,” Rasmussen said. “Our dominant land position of approximately 35,500 net acres in southern Nevada represents a substantial organic growth opportunity for Coeur, and we are excited to continue working on a plan to develop the district.”