Pan American Silver Corp.
Pan American Silver provides drill results and a project update for the La Colorada Skarn deposit
VANCOUVER, BC, May 12, 2021 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American", or the "Company") today provided results for 28 additional holes drilled at the La Colorada skarn deposit and an update of the project development.
"Definition drilling continues to add confidence and scope to the skarn deposit, confirming wide, high-grade zones with intercepts up to 277 metre drill widths. Geological and resource modeling are currently underway to provide the foundation for a preliminary economic assessment," said Christopher Emerson, Pan American's Vice President Business Development and Geology. "The 65,000 metre annual drill program prioritizes infill drilling during the first half of 2021, moving to step-out and exploration drilling in the second half of the year."
Pan American is advancing the La Colorada skarn project, targeting to complete a preliminary economic assessment ("PEA") technical report by the end of 2021. In addition to surface and underground infill diamond drilling, Pan American is commencing geotechnical, ventilation, backfill, geochemistry, and hydro geology field evaluations along with mine, plant and infrastructure design studies with a number of specialized engineering firms. Metallurgical tests continue to demonstrate favourable flotation results and environmental baseline studies are ongoing.
Pan American has submitted permit applications for certain site infrastructure projects that will assist in advancing the skarn project beyond the PEA which, in some cases, will also simultaneously benefit the existing La Colorada mine operations. These include projects such as camp expansions, access road upgrades, potential underground access ramp and shaft excavation entrances, ventilation systems and mine cooling to address the rock temperatures that increase with depth.
Drill highlights include:
- D-30-08-20: 115.25 m at 60 g/t Ag, 0.22% Cu, 3.37% Pb and 6.57% Zn
- D-30-09-20: 189.75 m at 60 g/t Ag, 0.14% Cu, 2.97% Pb and 6.29% Zn
- including 38.30 m at 92 g/t Ag, 0.21% Cu, 4.80% Pb and 7.26% Zn
- including 52.15 m at 82 g/t Ag, 0.16% Cu, 4.25% Pb and 11.81% Zn
- D-30-12-20: 45.20 m at 48 g/t Ag, 0.18% Cu, 3.12% Pb and 5.83% Zn
- D-30-13-21: 52.10 m at 40 g/t Ag, 0.27% Cu, 1.06% Pb and 4.09% Zn
- D-30-14-21: 57.75 m at 93 g/t Ag, 0.28% Cu, 6.87% Pb and 10.72% Zn
- U-40-20: 98.05 m at 84 g/t Ag, 0.16% Cu, 4.85% Pb and 6.16% Zn
- including 70.25 m at 109 g/t Ag, 0.18% Cu, 5.96% Pb and 7.24% Zn
- S-01-21: 145.30 m at 55 g/t Ag, 0.23% Cu, 3.51% Pb and 5.95% Zn
- D-81-04-20: 109.20 m at 70 g/t Ag, 0.20% Cu, 1.58% Pb and 5.64% Zn
- U-34-20: 218.30 m at 41 g/t Ag, 0.26% Cu, 1.49% Pb and 2.99% Zn
- including 32.50 m at 57 g/t Ag, 0.38% Cu, 2.20% Pb and 4.24% Zn
- D-57-08-20: 137.45 m at 31 g/t Ag, 0.10% Cu, 1.92% Pb and 3.55% Zn
- including 38.75 m at 81 g/t Ag, 0.22% Cu, 4.58% Pb and 7.91% Zn
- D-107-03-20: 98.10 m at 79 g/t Ag, 0.15% Cu, 0.29% Pb and 2.96% Zn
- S-65-20: 206.10 m at 28 g/t Ag, 0.10% Cu, 1.45% Pb and 3.13% Zn
- S-67-A-20: 277.15 m at 26 g/t Ag, 0.14% Cu, 1.86% Pb and 3.76% Zn
Highlights of recent drilling:
- 22,567 metres drilled over the last seven months; 80% of drilling focused on infill definition and 20% on exploration testing the skarn limits.
- Several holes in the northern and western part of the skarn, such as D-107-03-20 or U-40-20, have returned significantly higher-grade silver than the average inferred resource silver grade.
- Hole D-81-04-20 is a 100 metre step-out, which extends the northern portion of the skarn resource that remains open for further expansions.
- Seven surface infill holes (D-30-08/09/10/11A/12/13 and 14) confirm continuity of the high-grade core of the skarn.
- Underground drillhole U-40-20 extends mineralization to the west and to depth with a high-grade massive sulphide intercept of 70.25 metres at 109 g/t Ag, 0.18% Cu, 5.96% Pb and 7.24% Zn.
- Infill hole D-57-08-20 located 80 metres east of U-40-20 extends mineralization to depth in the west portion of the resource.
- Infill hole S-01-21 increases potential to the east with massive sulphide mineralization of 145 metres at 55 g/t Ag, 3.51% Pb and 5.95% Zn.
SUMMARY OF DRILL RESULTS
The following table provides the drill results for the La Colorada skarn deposit for the second half of 2020 and the first quarter of 2021. Previous drill results are not included in this table (see Pan American's news releases dated October 23, 2018, February 21, 2019, May 8, 2019, August 1, 2019, October 30, 2019, February 13, 2020 and August 4, 2020 for previous drill results).
Inferred Mineral Resource Estimate
On August 4, 2020, Pan American announced an updated inferred mineral resource estimate for its La Colorada skarn deposit 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. Please see our news release dated August 4, 2020 for further details.
General Notes with Respect to Technical Information
Grades are shown as contained metal before mill recoveries are applied. All samples provided in this news release were prepared and analyzed by SGS in Durango, Mexico using acid digestion with ICP finish for silver, lead, zinc, and copper. Pan American implements a quality assurance and quality control ("QAQC") program including the submission of certified standards, blanks, and duplicate samples to the laboratories. The results of the QAQC samples submitted to SGS demonstrate acceptable accuracy and precision. 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 any future 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. SGS is independent from Pan American.
Mineral reserves and mineral resources are as defined by the Canadian Institute of Mining, Metallurgy and Petroleum.
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.
See the Company's Annual Information Form dated February 17, 2021, 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 27-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/170/2021-05-12-pan-american-silver-provides-drill-results-and-a-project-update-for-the-la-colorada-skarn-deposit
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