Pan American Silver Corp.
Pan American Silver increases La Colorada skarn deposit mineral resource estimate to 100.4 million tonnes and provides drilling update
VANCOUVER, BC, Aug. 4, 2020 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American", or the "Company") today announces an updated inferred mineral resource estimate for its La Colorada skarn deposit in Zacatecas, Mexico of 100.4 million tonnes, containing an estimated 141.0 million ounces of silver. The updated mineral resource represents a 38% increase in tonnes and an equivalent increase in silver ounces from the initial inferred mineral resource estimate provided on December 11, 2019. Pan American also today released the results of 17 holes drilled in the first half of 2020, all of which contain multiple skarn and breccia intercepts.
"In the span of only 18 months, we have been able to discover over 100 million tonnes of polymetallic mineral resources through this exciting skarn deposit at La Colorada. Exploration drilling continues to demonstrate the extent of the mineralized system, which remains open in nearly all directions for resource expansions," said Christopher Emerson, Pan American's Vice President Business Development and Geology. "Drilling over the last six months has further increased our confidence that the La Colorada skarn is a deposit of world-class size and quality. Additional drilling and metallurgical studies, as well as preliminary project engineering, are underway to advance development of this deposit."
Mineral Resource Highlights:
- Inferred mineral resource estimate of 100.4 million tonnes with grades averaging 44 g/t silver, 0.20% copper, 1.77% lead and 4.29% zinc, and containing 141.0 million ounces of silver, 4.3 million tonnes of zinc, 1.8 million tonnes of lead, and 199 thousand tonnes of copper using a cut-off value of US$60 per tonne after accounting for transportation, smelting and refining costs.
- Mineralization is now defined within a large polymetallic mineralized skarn covering an area measuring 850 metres by 650 metres and several smaller satellite areas. The deposit is located east of the current La Colorada mine workings, and as currently defined, lies between 600 metres and 1,900 metres below surface.
- The geological model used for the inferred resource estimate is based on 85 diamond drillholes with a total length of 70,000 metres.
- The main areas of mineral resource expansion are due to extensive mineralized intercepts encountered in drillholes D-57-04-20, S-81-19, U-88-19 and U-15-20. These holes were drilled subsequent to the initial inferred mineral resource estimate provided on December 11, 2019.
- Laboratory bench-scale metallurgical tests performed with larger diamond drill core composite samples continue to show positive polymetallic flotation recoveries; consequently, the same metallurgical factors were used as in the inferred initial resource estimate provided on December 11, 2019.
Drill highlights include:
- U-15-20: 223.5 m at 29 g/t Ag, 0.10% Cu, 1.00% Pb and 1.79% Zn and 101.3 m at 44 g/t Ag, 0.21% Cu, 2.89% Pb and 3.92% Zn
- U-19-20: 130.9 m at 24 g/t Ag, 0.13% Cu, 0.74% Pb and 2.37% Zn
- D-107-02-20: 134.7 m at 23 g/t Ag, 0.04% Cu, 1.39% Pb and 2.99% Zn
- D-81-02-20: 72.6 m at 26 g/t Ag, 0.05% Cu, 1.22% Pb and 3.34% Zn
- D-81-03-20: 52.0 m at 67 g/t Ag, 0.34% Cu, 1.37% Pb and 3.53% Zn
- S-95R-19: 83.6 m at 23 g/t Ag, 0.27% Cu, 0.08% Pb and 4.21% Zn
- D-107-01-20 23.1 m at 139 g/t Ag, 0.12% Cu, 3.99% Pb and 6.46% Zn and 21.4 m at 28 g/t Ag, 0.09% Cu, 2.38% Pb and 6.49% Zn
- D-57-05-20: 55.7 m at 20 g/t Ag, 0.09% Cu, 2.06% Pb and 3.18% Zn and 28.2 m at 57 g/t Ag, 0.06% Cu, 3.79% Pb and 3,18% Zn
- U-05-20: 34.0 m at 35 g/t Ag, 0.23% Cu, 2.15% Pb and 3.85% Zn and 20.2 m at 156 g/t Ag, 0.88% Cu, 5.99% Pb and 5.29% Zn
The Pan American exploration team has completed over 18,600 metres in the first half of 2020 with a total of 44,000 metres projected to be completed by the end of the year. To view cross sections, plan and images of the mineralized core, please see our website at panamericansilver.com.
Highlights of Recent Drilling:
- S-95R-19 defines a new mineralized zone at depth that adds exploration potential southeast of the main skarn zone.
- D-57-05-20 and D-57-06-20 contain economic mineralized widths on the west margin of the resource.
- D-81-02-20 and D-81-03-20 confirm the extension of mineralization northeast of the initial inferred resource estimate provided on December 11, 2019.
- Infill drillholes U-15-20 and U-19-20 confirm prior modeled mineralized grade and thickness and adds to the overall confidence of the deposit.
General Notes with Respect to Technical Information
A total of 85 diamond drillholes with a total length of 70,000 metres were used in the geological interpretation and resource estimate. Several old historic drillholes were included in the modeling. Drilling of the skarn deposit has been completed from both surface and underground drill platforms.
All drill hole samples used in the mineral resource not included in this news release have been previously reported in news releases dated October 23, 2018, February 21, 2019, May 8, 2019, August 1, 2019, October 30, 2019, and February 13, 2020.
The drill hole samples were prepared by the internal La Colorada mine laboratory, SGS of Durango, Activation Laboratories Ltd ("Actlabs") of Zacatecas and Bureau Veritas of Hermosillo. Pan American implements a quality assurance and quality control ("QAQC") program, including the submission of certified standards, blanks, and duplicate samples to the laboratories.
Both Actlabs and SGS used fire assay with gravimetric finish for gold, and acid digestion with ICP finish for silver, lead, zinc, and copper. Bureau Veritas used fire assay with gravimetric finish for gold and by acid digestion with ICP finish for silver, lead, zinc, and copper in their Vancouver, Canada laboratory. The La Colorada mine laboratory, which is operated by our employees, used fire assay with gravimetric finish for gold and silver, and acid digestion with atomic absorption finish for lead, zinc, and copper.
The results of the QAQC samples submitted to SGS, Actlabs, Bureau Veritas, and the La Colorada mine laboratory all demonstrate acceptable accuracy and precision. Some standards, blanks and duplicate failures were associated with analysis conducted at the La Colorada mine laboratory, as reported in the news releases dated October 23, 2018 and May 8, 2019. These failed batches were re-submitted to SGS or Actlabs for analysis and results were verified. SGS, Actlabs and Bureau Veritas are independent from Pan American.
For the summary drill results table, the grades are shown as contained metal before mill recoveries are applied.
The Qualified Person is of the opinion that the sample preparation, analytical, and security procedures followed for the samples are sufficient and reliable for the purpose of mineral resource and mineral reserve estimates. 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 reserves and resources are as defined by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM").
Pan American reports mineral resources and mineral reserves separately. Reported mineral resources do not include amounts identified as mineral reserves. Mineral resources that are not mineral reserves have no demonstrated economic viability. No mineral reserves have yet been estimated for the skarn deposit.
The Qualified Persons do not expect these mineral resource estimates to be materially affected by any known legal, political, environmental or other risks.
See the Company's Annual Information Form dated March 12, 2020, available at www.sedar.com for further information concerning QAQC and data verification matters, the key assumptions, parametres 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 resources.
Technical information contained in this news release with respect to Pan American has been reviewed and approved by Christopher Emerson, FAusIMM, Vice President Business Development 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 NI 43-101.
About Pan American Silver
Pan American is the world's second largest primary silver producer, providing enhanced exposure to silver through a diversified portfolio of assets, large reserves and growing production. We own and operate mines in Mexico, Peru, Canada, Argentina and Bolivia. In addition, we own the Escobal mine in Guatemala that is currently not operating. Pan American has a 26-year history of operating in Latin America, earning an industry-leading reputation for operational excellence and corporate social responsibility. We are headquartered in Vancouver, B.C. and our shares trade on NASDAQ and the Toronto Stock Exchange under the symbol "PAAS".
Source: https://www.panamericansilver.com/news/news-releases/detail/144/2020-08-04-pan-american-silver-increases-la-colorada-skarn-deposit-mineral-resource-estimate-to-100-4-million-tonnes-and-provides-drilling-update
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