Couer Mining Strikes Silver, Announces High-Grade Mineral Finds In British Columbia

Coeur Mining, Inc. (NYSE:CDE) announced strong results from its Silvertip polymetallic exploration project in northern British Columbia, placing the area as one of the highest-grade undeveloped carbonate replacement deposits globally.

The exploration focused on the Southern Silver Zone, with approximately 90,000 feet (28,000 meters) of drilling completed through 2023.

President and CEO Mitchell J. Krebs noted that this exploration achieved the key goal of expanding the resource base adjacent to the main Silvertip deposit and existing underground infrastructure.

"This success continues to support the growing potential of Silvertip as an emerging tier one asset and future cornerstone for the Company, containing some of the highest grades of silver, zinc and lead of any global carbonate replacement deposit in addition to a potentially meaningful complement of critical minerals," he said.

Now read: Canada Wants To Increase Critical Mineral Production, But China’s Involvement Raises Concerns

Highlights:

Hole 65Z23-485-012-022 – assayed 16.1 feet at 36.8 ounces per ton ("oz/t") (4.9 meters at 1,261.4 grams per ton ("g/t")) silver, 22.0 % lead and 22.4% zinc or 3,053 g/t on a silver equivalence basis Hole 65Z22-485-010-030: 10.6 feet at 14.4 oz/t (3.2 meters at 492.0 g/t) silver, 5.9% lead and 8.1% zinc Hole 65Z22-485-010-036: 29.8 feet at 3.5 oz/t (9.1 meters at 121.0 g/t) silver, 1.5% lead and 4.6% zinc Hole 65Z23-485-012-004: 20.7 feet at 2.5 oz/t (6.3 meters at 87.0 g/t) silver, 1.1% lead and 10.8% zinc Hole 65Z23-485-012-008: 9.5 feet at 16.6 oz/t (2.9 meters at 568.0 g/t) silver, 12.0% lead and 4.5% zinc Hole 65Z23-485-012-021: 25.4 feet at 2.6 oz/t (7.7 meters at 88.0 g/t) silver, 0.8% lead and 7.2% zinc and 10.9 feet at 8.2 oz/t (3.3 meters at 282.0 g/t) silver, 3.5% lead and 16.7% zinc

Coeur invested approximately $60 million in exploration between 2018 and 2023, leading to a nearly tripled total resource as of year-end 2022. The upcoming resource update, expected to include maiden estimates for the Saddle Zone, further underscores the immense potential of Silvertip.

Aoife McGrath, Senior Vice President of Exploration, highlighted that the resource growth in the past six years validates the project’s potential but emphasized the belief that the most significant and lucrative part of the deposit is undiscovered.

This positive development is timely, as Coeur lost over 33% of its market cap in the last year owing to share dilution caused by expansion costs of its Rochester mine in Nevada. Yet, despite this turbulence, it is worth noting that Coeur's insiders predominantly added to their holdings, buying over 50,000 shares in the last year.

Also read: Diamond Prices Set To Soar: Analyst Says Couples Fueling The Sparkle

Photo: Shutterstock

Get insight into trading platforms. Compare the best online stock brokerages.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.